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:

  $ chain-maind query mint annual-provisions
  109573801550200370

implies that the current minting annual provisions will be 109573801550200370 basecro ( 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:

  $ chain-maind 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

$ chain-maind query mint params --output json | jq

  {
    "mint_denom": "basetcro",
    "inflation_rate_change": "0.013000000000000000",
    "inflation_max": "0.020000000000000000",
    "inflation_min": "0.007000000000000000",
    "goal_bonded": "0.670000000000000000",
    "blocks_per_year": "6311520"
  }

Easy to use endpoints to query CRO supply and emissions

The current supply of CRO and its emission projections can be easily queried directly from URLs, as described in this section.

Supply

The current total supply of CRO can be obtained from https://rest.mainnet.cronos-pos.org/cosmos/bank/v1beta1/supply/by_denom?denom=basecro. Note - This number is provided in basecro, where 1 CRO = 10^8 basecro on the Cronos POS chain.

Emissions

Under the Cosmos SDK x/mint module, the CRO inflation is determined by multiple parameters such as min and max inflation and the percentage of staked CRO at any point in time.

At any point, the inflation, in annualized percentage increase of CRO supply, can be queried from https://rest.mainnet.cronos-pos.org/cosmos/mint/v1beta1/inflation.

This results in annualized emissions that can be queried from https://rest.mainnet.cronos-pos.org/cosmos/mint/v1beta1/annual_provisions (in basecro).

Annualized emissions can also be seen on the Blockchain Explorer at https://cronos-pos.org/explorer under "Events" of each block.

This annualized emission value can be derived into a per-block value by using the block per year value provided by the following endpoint: https://rest.mainnet.cronos-pos.org/cosmos/mint/v1beta1/params

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	string (uint64)	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%)	basecro

	inflation_max	inflation_min	inflation_rate_change
Type	string (dec)	string (dec)	string (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%)