55 lines
1.6 KiB
Markdown
55 lines
1.6 KiB
Markdown
<!--
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order: 3
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-->
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# Begin-Block
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Minting parameters are recalculated and inflation
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paid at the beginning of each block.
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## NextInflationRate
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The target annual inflation rate is recalculated each block.
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The inflation is also subject to a rate change (positive or negative)
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depending on the distance from the desired ratio (67%). The maximum rate change
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possible is defined to be 13% per year, however the annual inflation is capped
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as between 7% and 20%.
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```
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NextInflationRate(params Params, bondedRatio sdk.Dec) (inflation sdk.Dec) {
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inflationRateChangePerYear = (1 - bondedRatio/params.GoalBonded) * params.InflationRateChange
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inflationRateChange = inflationRateChangePerYear/blocksPerYr
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// increase the new annual inflation for this next cycle
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inflation += inflationRateChange
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if inflation > params.InflationMax {
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inflation = params.InflationMax
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}
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if inflation < params.InflationMin {
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inflation = params.InflationMin
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}
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return inflation
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}
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```
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## NextAnnualProvisions
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Calculate the annual provisions based on current total supply and inflation
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rate. This parameter is calculated once per block.
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```
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NextAnnualProvisions(params Params, totalSupply sdk.Dec) (provisions sdk.Dec) {
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return Inflation * totalSupply
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```
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## BlockProvision
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Calculate the provisions generated for each block based on current annual provisions. The provisions are then minted by the `mint` module's `ModuleMinterAccount` and then transferred to the `auth`'s `FeeCollector` `ModuleAccount`.
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```
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BlockProvision(params Params) sdk.Coin {
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provisionAmt = AnnualProvisions/ params.BlocksPerYear
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return sdk.NewCoin(params.MintDenom, provisionAmt.Truncate())
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```
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