module_mint

mint module

Introduction

The mint module is responsible for creating token in a flexible way to reward the validator who participate in the proof of stake consensus process (see also the distribution module). It is also designed in a way to bring a balance between market liquidity and staked supply.

Overview

Network parameters

Below are all the network parameters for the mint module:

• "blocks_per_year" - The expected number of blocks being produced per year;

• "goal_bonded" - Goal of bonded token in percentage;

• "inflation_max" - Maximum annual inflation rate;

• "inflation_min" - Minimum annual inflation rate;

• "inflation_rate_change" - Maximum annual change in inflation rate;

• "mint_denom" - Token type being minted.

The target annual inflation rate is recalculated for each previsions cycle. The inflation is also subject to a rate change (positive or negative) depending on the distance from the desired ratio ("goal_bonded"). The maximum rate change possible is defined to be "inflation_rate_change" per year, where the annual inflation is capped as between "inflation_min" and "inflation_max".

mint module: Queries

Queries

query mint params - Query the current minting annual provisions value

We can query the current minting annual provisions value, for example:

  $ cronosd query mint annual-provisions
  109573801550200370

implies that the current minting annual provisions will be 109573801550200370 basetcro ( i.e. 1,095,738,015 cro)

query mint inflation - Query the current minting inflation value

We can query the current minting inflation value, for example:

  $ cronosd query mint inflation
  0.013687008526984104

implies that the current minting annual provisions will be 0.013687008526984104( i.e. 1.368%)

query mint annual-provisions - Query the current minting parameters

We can query the current query parameters by

$ cronosd query mint params --output json | jq

REST endpoint

The parameters can also be checked by browsing to the following REST endpoint on Mainnet:

https://rest.cronos.org/cosmos/mint/v1beta1/params

{
  "params": {
    "mint_denom": "stake",
    "inflation_rate_change": "0.000000000000000000",
    "inflation_max": "0.000000000000000000",
    "inflation_min": "0.000000000000000000",
    "goal_bonded": "1.000000000000000000",
    "blocks_per_year": "6311520"
  }
}

Appendix

gov module: Network Parameters and configuration

The following tables show overall effects on different configurations of the mint related network parameters:

	blocks_per_year	goal_bonded	mint_denom
Type	array (coins)	string (dec)	string
Higher	More expected blocks per year	Higher target bonding ratio	N/A
Lower	Less expected blocks per year	Lower target bonding ratio	N/A
Constraints	Value has to be a positive integer	Value has to be less or equal to 1	N/A
Sample configuration	5256000 (5,256,000 blocks)	0.66 (66%)	basetcro

	inflation_max	inflation_min	inflation_rate_change
Type	string (dec)	string (dec)	string (dec) (dec)
Higher	Higher ceiling for the inflation rate	Higher floor for the inflation rate	Higher yearly rate of change to the inflation
Lower	Lower ceiling for the inflation rate	Lower floor for the inflation rate	Lower yearly rate of change to the inflation
Constraints	Value has to be less or equal to 1	Value has to be less or equal to 1	Value has to be less or equal to 1
Sample configuration	0.02 (2%)	0.01 (1%)	0.01 (1%)