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72 lines
3.6 KiB
Markdown
72 lines
3.6 KiB
Markdown
# Appendix A: Emission Curve & Halving Schedule
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## Parameters
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- **Total supply:** 210,000,000 $ORAMA (hard cap)
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- **Block time:** 6 seconds
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- **Blocks per day:** 14,400
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- **Blocks per year:** 5,256,000
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- **Block reward split:** 80% to block proposer, 20% to bonding curve inventory (capped at 21M total to curve)
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- **Halving interval:** Every 2 years (~10,512,000 blocks)
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## Detailed Emission Table
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| Era | Years | Block Reward | Blocks in Era | Era Emission | To Miners (80%) | To Curve (20%) | Cumulative Supply | % of Total |
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|-----|-------|-------------|---------------|-------------|-----------------|----------------|-------------------|-----------|
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| 1 | 1–2 | 100 $ORAMA | 10,512,000 | 105,120,000 | 84,096,000 | 21,024,000 | 105,120,000 | 50.03% |
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| 2 | 3–4 | 50 $ORAMA | 10,512,000 | 52,560,000 | 42,048,000 | 10,512,000 | 157,680,000 | 75.04% |
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| 3 | 5–6 | 25 $ORAMA | 10,512,000 | 26,280,000 | 21,024,000 | 5,256,000 | 183,960,000 | 87.52% |
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| 4 | 7–8 | 12.5 $ORAMA | 10,512,000 | 13,140,000 | 10,512,000 | 2,628,000 | 197,100,000 | 93.76% |
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| 5 | 9–10 | 6.25 $ORAMA | 10,512,000 | 6,570,000 | 5,256,000 | 1,314,000 | 203,670,000 | 96.88% |
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| 6 | 11–12 | 3.125 $ORAMA | 10,512,000 | 3,285,000 | 2,628,000 | 657,000 | 206,955,000 | 98.44% |
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| 7 | 13–14 | 1.5625 $ORAMA | 10,512,000 | 1,642,500 | 1,314,000 | 328,500 | 208,597,500 | 99.22% |
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| 8 | 15–16 | 0.78125 $ORAMA | 10,512,000 | 821,250 | 657,000 | 164,250 | 209,418,750 | 99.61% |
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| 9 | 17–18 | 0.390625 $ORAMA | 10,512,000 | 410,625 | 328,500 | 82,125 | 209,829,375 | 99.81% |
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| 10 | 19–20 | 0.195313 $ORAMA | 10,512,000 | 205,313 | 164,250 | 41,063 | 210,034,688 | 99.90% |
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*Emission continues halving indefinitely. When the remaining emittable supply is less than the block reward, the block reward equals the remaining supply — ensuring the 210,000,000 hard cap is never exceeded.*
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## Cumulative Supply Over Time
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```
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Year 1: 52,560,000 $ORAMA (25.0%)
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Year 2: 105,120,000 $ORAMA (50.0%) ← First halving
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Year 4: 157,680,000 $ORAMA (75.0%) ← Second halving
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Year 6: 183,960,000 $ORAMA (87.5%)
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Year 8: 197,100,000 $ORAMA (93.8%)
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Year 10: 203,670,000 $ORAMA (96.9%)
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Year 20: ~210,000,000 $ORAMA (99.9%)
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```
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## Daily Emission by Era
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| Era | Daily Total Emission | Daily to Miners | Daily to Curve |
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|-----|---------------------|----------------|----------------|
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| 1 | 1,440,000 $ORAMA | 1,152,000 | 288,000 |
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| 2 | 720,000 $ORAMA | 576,000 | 144,000 |
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| 3 | 360,000 $ORAMA | 288,000 | 72,000 |
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| 4 | 180,000 $ORAMA | 144,000 | 36,000 |
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| 5 | 90,000 $ORAMA | 72,000 | 18,000 |
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## Per-Node Earnings Estimates (Era 1)
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Assumes equal Effective Power across all nodes (simplified):
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| Total Nodes | Daily per Node | Monthly per Node |
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|-------------|---------------|-----------------|
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| 300 | 3,840 $ORAMA | 115,200 $ORAMA |
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| 500 | 2,304 $ORAMA | 69,120 $ORAMA |
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| 1,000 | 1,152 $ORAMA | 34,560 $ORAMA |
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| 5,000 | 230 $ORAMA | 6,912 $ORAMA |
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| 10,000 | 115 $ORAMA | 3,456 $ORAMA |
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*Actual earnings vary by Effective Power (stake × contribution × infrastructure multiplier).*
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## Key Properties
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1. **50% emitted in first 2 years** — rewards early risk-takers who secure the network when it's most vulnerable.
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2. **75% emitted by year 4** — strong incentive to join early.
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3. **96.9% emitted by year 10** — after a decade, the network runs primarily on transaction fee revenue.
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4. **Never reaches 210M exactly** — the halving creates an asymptotic approach, just like Bitcoin's 21 million.
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5. **Predictable at every block** — anyone can calculate the exact circulating supply at any block height with simple arithmetic.
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