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RE: Why There Is No Such Thing As "Draining The Reward Pool"
In case anyone is interested in the math:
- 230,348,857 STEEM currently in circulation
(coinmarketcap.com) - 9.5% inflation = 21,883,141 STEEM generated per year
- 75% of that to rewards pool = 16,412,356
- Divide that by 365 - 44,965 STEEM per day.
When you factor in compound interest, this number will go up slightly over time.
Precisely, thanks for clarifying the numbers. I was just using approximations, 46,000 is an average of what we should expect for the next 1-3 years, I guess.
I think you might be wrong here. the "interest" is not compounding. because the rate of inflation is declining.
That is to say, the 21,883,141 STEEM is fixed amount, but a progressively smaller percentage of the money supply.
That's a good point. I haven't done the math to see if the rate at which the inflation is decreased is <, >, or = to the rate at which new STEEM is generated. It would be an interesting thing to know!