🌍Economic model
Vision Network economic model is an organic whole composed of multiple sub-models.
1. Voting Model
1.1 User voting weight
Vision Network weighted the votes of users (voters), voteCountWeight, and weighted a certain percentage according to the amount of user pledges. The current stage settings are as follows:
| start value(contain) unit:VS | end value(not contain) unit:VS | value |
|---|---|---|
0 | 1000 | voteCount * 1 |
1000 | 10000 | voteCount * 1.08(take the largest integer not greater than this number, the same below) |
10000 | 100000 | voteCount * 1.13 |
100000 | Unlimited | voteCount * 1.16 |
Vision Network calculates the number of votes obtained by the super node (witness) using the weighted number of user votes, namely sum (voteCountWeight). The number of votes obtained by the witness must not be greater than (witness pledge amount-FVFreezeLowest)/(FVFreezeLowestPercent/1,000).
FVFreezeLowest represents the minimum pledge amount of FV, Vision Network is set to 5000 * 1000_000L (5,000 VS). FVFreezeLowestPercent represents the pledge ratio conversion coefficient (the maximum number of votes that can be calculated according to the pledge amount), and the current Vision Network is set to 65.
1.2 Node pledges FVGurantee
In Vision, First Validator pledges VS in order to obtain the weight of votes. First, First Validators need to freeze 5000VS to obtain the voting weight.in order to obtain more voting weight, First Validators need to freeze VS to obtain more FV, each time Initiate a freeze, and the period will be extended by 23 days according to the current freeze time as the expiration time. The relationship between the weight of votes and the actual number of votes: (weight of votes-5000VS) * 6.5% >= actual number of votes.
freezebalance GUARANTEE
The specific operation of the Vision node pledge is executed in the wallet as above, the freezing type ResourceCode is set to 2, and the receiverAddress is not required to fill in.
1.3 Ticket type and effective point
Description of the type of voting value obtained by the First Validator voteCount The normal number of votes the user has. User voting will take effect immediately
voteCountWeight The number of votes weighted by the user, and the weighting algorithm. Effective when the First Validator pledges FV and exceeds 5000VS
voteCountThreshold According to the vote count threshold calculated by the First Validator FV, if voteCountWeight> voteCountThreshold, First Validators need more FV deposit for the user's weighted voting to take effect.
2. Incentive Model
Concept: business cycle, pledge rate (maintenance cycle), pledge rate (business cycle), inflation rate. Economic cycle: The economic cycle is based on the "maintenance cycle", and the number of "maintenance cycles" included in the "economic cycle" can be modified through the proposal. The business cycle is used to count and adjust the inflation rate and other economic model parameters.
Pledge rate (maintenance period)：the total number of pledges in the entire network (entropy + light quantum + super node freezing) / total assets (block production + voting + liuqid min reward) + vote (the total number of assets does not include the frozen part: entropy and light quantum) + Galaxy Initial Account Amount-Galaxy Balance + Initial Avalon Account Amount-Avalon Balance * 100%.
Pledge rate (business cycle)：the sum of pledge rates of each maintenance cycle in the current business cycle / the number of maintenance cycles.
Inflation rate：When the pledge rate of the current business cycle is 0, the coinage expansion rate of the next period is 0; when the pledge rate of the current business cycle is greater than or equal to 60%, the coinage expansion rate of the next period is 6.89%; when the pledge rate of the current business cycle is less than 60%, the coinage of the next period Expansion rate is 23.22%.
Relationship and influence: The relationship between these 3 concepts is Calculate the pledge rate (business cycle) through the pledge rate (maintenance cycle) Calculate inflation rate by pledge rate (business cycle). The inflation rate directly affects the number of incentives for voting and block production, namely witnessPayPerBlockInflation, witness123PayPerBlockInflation, witnessStandbyAllowanceInflation.
2.1 Block rewards produceBlockPay
The block incentives obtained by voters and Validators are converted into corresponding proportions based on the weighted votes or votes.
1. FV incentives for current block production:
FV incentive: witnessPayPerBlockInflation (system setting)(brokerage/100) Voter incentives: Voters vote for the FV's voteCountWeight/sum (voteCountWeight obtained by FV)witnessPayPerBlockInflation*(1-brokerage/100).
2. Former 123 Validators
FV incentive: witness123PayPerBlockInflation (system setting)(brokerage/100) Voter incentives: Voters vote for the FV's voteCountWeight/sum (voteCountWeight obtained by FV)witness123PayPerBlockInflation*(1-brokerage/100).
2.2 Voting rewards 123 ValidatorPay
Voting weights obtained by FV/sum (voting weights obtained by 123FV) * witnessStandbyAllowanceInflation (system setting).
2.3 Node Voting rewards CommunityVoting Pay
Vision introduces node voting incentives. Users freeze VS to get CommunityVoting rewards. When freezing, they must fill in the parent account address, and the settlement will be settled according to the proportion. Vision initially defaults to a three-level model, and the coefficient ratios for sharing rewards are 80%, 10%, 8%, and 2%. For example, when user A freezes CommunityVoting, fill in account B, fill in C, and fill in D. At this time, A will calculate the income according to 10%, 8%, and 2% when the income is settled, and give it to users B, C, and D.
1. How to participate in CommunityVoting
Freeze the acquisition of CommunityVoting, which means that the VS you will be holding will be locked and cannot be traded. It will be used as collateral to obtain rewards.
ENTROPY, 2 FVGUARANTEE, 3 CommunityVoting] [receiverAddress]
Vision promotion incentives support and only one parent can be set. The specific operation is to execute the command in the wallet as above, the freezing type ResourceCode is set to 3, and the receiverAddress is the parent address set by the current account, which is a mandatory parameter. Frozen_balance is greater than 1 VS, and receiverAddress exists when CommunityVoting is initially frozen.
Vision incentives support the modification of the parent. If the conditions are met, the operation when modifying the parent is that frozen_balance is set to 0, and the receiverAddress（In this scenario, receiverAddress is parentAddress） exists and cannot be the old parent address. Vision incentives support repeated freezing, and the repeated freezing period cannot exceed the value of CommunityVoting_LIMIT. Please refer to Proposal for specific restrictions.
READ) [receiverAddress]
Vision incentives support contact pledges. The specific operation needs to set the ResourceCode to 3, and the receiverAddress does not need to be passed in. When the user unfreezes CommunityVoting or refreezes the acquisition of CommunityVoting， the "upward multi-level" settlement will be performed, and the settlement will be terminated if there is a circle.
When the user freezes the acquisition of CommunityVoting, only one superior must be set, and repeated freezing is not allowed within 24 hours. When the user unfreezes or refreezes the acquisition of CommunityVoting, the settlement will be "upward multi-level", and if there is a ring, the settlement will be terminated.
2. Reward calculation and division By freezing the CommunityVoting obtained by VS, the user's CommunityVoting reward in each maintenance cycle = block reward total number of blocks in the maintenance cycle user frozen volume / total network frozen volume * props ratio.
3. Reward arrival and withdrawal In Vision network, CommunityVoting rewards will be credited in the following two scenarios: A. When the user repeatedly freezes CommunityVoting or modifies the superior, the incentive settlement will be carried out. B. When the user unfreezes CommunityVoting, an incentive settlement will be carried out. C. When the user withdraw rewards by themselves.
Withdrawal
Users can withdraw incentives when there is an incentive balance in the account.
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