The HX team has made the decision to slow down the initial HX block generation plan. This decision has been made in order to further protect the interests of HX holders and enhance investor confidence, as well to maintain the long-term growth of the HX community.
The original plan was to generate up to 0.98 billion HX over 7 years. This has been adjusted to 0.97 billion over 100 years. After this period, no more additional tokens will be issued. After the execution of the revised plan, HX tokens which are used for Citizen or Senator registrations will continue to be fully destroyed.
In the first year, a single block will genereate a reward of 27 HX, which will decrease by 1 to 2 HX per year, with a reward of 17 HX in the seventh year.
Soon after the revision, this rule will expire.
When the block height reaches 2,500,000, the new rule will be formally implemented, and the single-block reward attenuation rule will be adopted accordingly.
Among them, the attenuation reward X = 6.5 * (0.99 ^ n), namely the initial yield of 6.5, 0.99 per 1 million piece of diminishing a cycle, the initial value of n is 0.
The block height reaching 3,500,000 marks the end of the first cycle, when n=0.
The block height reaching 3,500,001 marks the beginning of the 2cd cycle, when n=1.
The initial yield of 2nd circle, (also is the end of first cycle) = 0.4 + 6.5 * 0.99 ^ (1) = 6.835.
Note: This HX revision does not target any specific address or role on the chain. The process of revising rules in HX is open, fair and democratic, and is decided by Senator’s votes.