NIX Platform: New Inflation Schedule on Transition to Proof of Stake

Hello fellow Steemians,

I'm here with yet another update and exciting news for NIX. I recently wrote about the upcoming switch from PoW to PoS and the current state of the testnet in case you want to read up more on the subject. With the most recent announcement, NIX published their aims to

• drastically improve the future economy
• significantly reduce the block rewards
• regulate inflation with a 40 year plan
• reduce the maximum supply
• ...and more

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image courtesy of pixabay

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Changes to Block Rewards

Following the transition to Proof of Stake, the Lyra2REv2 Proof of Work algorithm becomes obsolete and miners will no longer get a share of newly generated blocks. Thus, the overall block reward will be lowered and a dynamic staking reward introduced. The old and new values in comparison:

	Total	Ghost Nodes	Dev Fund	Mining	Staking	Max Supply
Old	64.000	17.92	4.48	41.6	0	175.0m
New	12.10	8.442	1.28	0	2.35~ (dynamic)	102.5m

As the newly generated NIX coming into circulation decreases by a considerable margin (over 80%) along with a much reduced max supply, it would not be unreasonable to expect the coin's value to rise accordingly. Hand in hand with the revised block rewards, the team published their inflation plan.

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40 Year Inflation Plan

As already mentioned in the previous section, the inflation schedule can be viewed here. I will also display the table here for your viewing convenience.

Year	Staking Inflation	Ghost Node Inflation	Development Fund Inflation	Total Circulating Supply
1	600,000	2,201,134	336,384	43,156,158
2	647,347	2,201,134	336,384	46,360,384
3	695,405	2,201,134	336,384	49,612,308
4	744,184	1,110,067	168,192	51,634,752
5	774,521	1,110,167	168,192	53,687,533
10	913,850	555,033	84,096	62,476,359
15	1,019,274	277,516	42,048	69,290,440
20	1,112,940	69,379	10,512	75,388,833
25	1,203,794	34,689	5,256	81,546,314
30	1,298,984	17,344	2,628	87,993,529
35	1,400,319	8,672	1,314	94,856,073
40	1,508,946	2,168	328	102,210,160

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Parting Words

As always, the NIX team continues to work their hardest and deliver on time. The community is very excited and should you want to join, you can do so by following this Discord invite link. Should you have any questions regarding this article, I am very happy to answer your comments.