Difference between revisions of "Economics"

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== BiblePay Economics: ==
 
== BiblePay Economics: ==
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== Gross Block Breakdown: ==
 
== Gross Block Breakdown: ==
  
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* Block Emission Level: Variable rate between 20000 and 5000, based on the network difficulty level (higher diff, lower block subsidy), deflating at 19.5% per year
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* Block Emission Level: Starting at 20,000 BBP at inception and decreasing by 19.5% per year.
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* 20% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT, 2.5% P2P, 2.5% PR)
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* 15% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT)
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* 37.5% is escrowed for Proof-of-distributed Computing (our Cancer Mining Research Budget - emitted in one daily superblock)
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* 85% is rewarded to our Sanctuaries for Services and block security
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* 38.5% is given to the next due Sanctuary
 
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* 4% is allocated to heat-mining (Proof-of-BibleHash POW mining), out of this 4% allocation, 80% goes to the POG Pool (the Sowers) and 20% goes to the one who solved the block (the Reaper)
 
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== How to calculate a BiblePay reward schedule: ==
 
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* Block 70,000 has a gross reward of 11,645
 
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* Multiply 11645 * .20 to find the governance budget (2329)
 
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* Multiply 11645 * .375 to find the PODC budget (4308)
 
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* Multiply 11645 * .385 to find the Sanctuary payment (4492)
 
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* Multiply 11645 * .042 to find the POW heat miner allocation (499)
 
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* Multiply 499 * .20 to find the Reaper Reward (100).
 
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* Multiply 499 * .80 to find the POG Pool allocation (399).
 
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* Total : 100%
 
  
  
 
== Gross breakdown of Governance Budget: ==
 
== Gross breakdown of Governance Budget: ==
  
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* Charity and Recurring Orphanage expenses (compassion.com, BLOOM, Cameroon One, Kairos, etc): 50%
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* Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 66%
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* IT Expenses and Payroll: 25%
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* IT Expenses and Payroll: 33%
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* PR and Campaigns: 12.5%
 
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* Peer-to-Peer (Letter writing, gospel links, pay to preach): 12.5%
 
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== Gross breakdown of mining operations (Allocation of 80% of Gross Coinbase Reward): ==
 
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* 46.5% is given to PODC cancer miners</li>
 
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* 48.5% is given to the Sanctuary</li>
 
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*  5% is given to POW/POG Pool</li>
 
  
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== Gross breakdown of Sanctuary Service reward: ==
  
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* 99% is given for POVS (Proof of video storage)
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* 1% is given to the sanctuary for Block Security (POW mining)
  
 
== Deflation: ==
 
== Deflation: ==
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See [[Emission Schedule|BiblePay Emission Schedule]] for more details.
 
See [[Emission Schedule|BiblePay Emission Schedule]] for more details.
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[[Category:BiblePay Economics]]
 
[[Category:BiblePay Economics]]

Latest revision as of 14:52, 27 November 2022

BiblePay Economics:

Gross Block Breakdown:

  • Block Emission Level: Starting at 20,000 BBP at inception and decreasing by 19.5% per year.
  • 15% is escrowed for governance for expenses paid via our sanctuary voted budget - emitted as one monthly superblock (10% for charity, 5% IT)
  • 85% is rewarded to our Sanctuaries for Services and block security


Gross breakdown of Governance Budget:

  • Charity and Recurring Orphanage expenses (compassion.com, Cameroon One, Kairos, etc): 66%
  • IT Expenses and Payroll: 33%

Gross breakdown of Sanctuary Service reward:

  • 99% is given for POVS (Proof of video storage)
  • 1% is given to the sanctuary for Block Security (POW mining)

Deflation:

The deflation rate of our emission is 1.5% Per Month, or 19.5% per year compounded.

See BiblePay Emission Schedule for more details.

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