Where Do HIVE Rewards come from? - #IAmAliveChallenge - Day 26 - #HiveIsAlive
One of the biggest questions I couldn't answer when onboarding people to Hive is that I didn't know where the funds for the Hive reward pool were coming from.
Luckily @mraoul took some time to research it and found the answers in the Hive FAQs :).
You can read more about it here:
https://hive.blog/faq.html#Where_do_the_new_HIVE_tokens_come_from
In short:
But there is not a fixed supply of Hive. Starting with the network's 16th hard fork in December 2016, Hive began creating new tokens at a yearly inflation rate of 9.5%.
Out of the new tokens that are generated:
65% go to the reward pool, which is split between authors and curators.
15% of the new tokens are awarded to holders of Hive Power.
10% of the new tokens are awarded to the Hive Proposal System.
The remaining 10% pays for the witnesses to power the blockchain.
▶️ 3Speak
Awesome information, @jeanlucsr! I've had a hard time wrapping my brain around this since I first joined that other blockchain almost 3 years ago...lol! I'm actually bookmarking this for future reference, when someone asks me about it.
And to help boost the signal a bit...
@tipu curate
Upvoted 👌 (Mana: 36/45)
Thanks for the boost! 🙏
Having a hard time adjusting back since my break.
You're very welcome. And I hear that, even though I haven't been on a break... 😂
No... you have been on fire for the Hive community. Your name keeps popping up every I am on hive. It's like spraypaint on the wall '@traciyork was here' on the whole blockchain 😂😂😂
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LOL! Thanks for saying so, but I feel like I've been spending so much time promoting Hive elsewhere, that I'm neglecting my commenting & curating here. For example, I used to place at least in the top 50 of @abh12345's The Hive Engagement League 🏆 (with some top 20 action here and there), but lately I'm barely even making it on the chart... 😝
Oh, and speaking of spray paint...
Yeah. I do feel you. I mean, we have 24 hours. You can't do both full time 😅.
But what I mean is your name pops up as a sponsor, a delegator or just someone that has contributed in so many places. Just think that is super awesome.
I don't think I've ever cracked the top 50. I also feel that engagement in general is way up (don't have actual stats so I could be wrong) which I'm really glad about.
❤ the gif 😍
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Just like with BTC, the interesting part of the Hive economy will begin when all the blocks have been produced and rewards are generated from what's in circulation alone. I wonder if they have already thought about that scenario that will occur in about 20.5 years apparently.
To be brutally honest. I haven't even considered that.
Tried to do some research on the matter, with no significant results so far.
But don't worry. We have about two decades to figure this out 😅
Lol...
Wow...I'll be seventy and still Hiving?
@faustofraser Wait... You're 50 right now?? 😱
An interesting question, and interesting explanation... All in an interesting short video that you have made... Thanks for sharing! :)
Made in Canva
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Thanks! Glad you like it. The question had been stuck in my head for about a month.