Tokenomics
The following is a brief outline of the tokenomics of BlockX, its supply and distribution, use cases within the ecosystem and beyond, and the use of funds.
Last updated
The following is a brief outline of the tokenomics of BlockX, its supply and distribution, use cases within the ecosystem and beyond, and the use of funds.
Last updated
MNV, the native token of Metanovaverse Network, is the core of our ecosystem that powers all of the low-cost gas fees, rewards for Validators & Delegators, as well as dApp & protocol developers.
MNV is compatible with ERC20 and other Ethereum standards, in addition to powering our Community Pool, gas fees, and staking on the Ethereum Virtual Machine (EVM).
The Initial Supply of MNV Token in the Metanovaverse Network is 100 Billion.
The basic distribution of the initial supply is as follows:
10% is for the Metanovaverse Reserve
50% go to Initial Token Sales
15% is for Angel Investors
25% is set for the Team & Advisors
Gas Fees
All gas fees within the Metanovaverse ecosystem will be paid using MNV tokens, creating locality and high efficiency.
Staking Rewards
Delegators (stakers) on our network can earn an APY of up to 10% — depending on factors like choice of Validator.
In-app Payments
Partners, affiliated projects, dApp & protocol developers can make MNV a form of payment in their own ecosystems.
Node Operation
Validators, who help keep the network running, will use MNV for charging fees on-chain.
MNV inflation is fixed at 10% per year.
Metanovaverse tracks and manages its ecosystem's gas the exact same way Ethereum does to ensure proper execution.
Around 1% of gas fees will be burned per each transaction within the ecosystem.
Calculating Gas Fees
Gas fees are calculated using the sum of all gas in a from the sum of all gas consumed in a message execution. So, the fee is equivalent to the gas multiplied by the gas price.
Validators are participants in PoS (Proof-of-Stake) networks who keep the blockchain running by creating new blocks and confirming transactions.
In the Metanovaverse ecosystem, Validators receive the highest rewards of all participants for preserving the foundation of the chain. The Metanovaverse ecosystem has a total inflation rate of 20%, and Validators earn 20% additional MNV tokens per annum on top of the gas fees paid by smart contract users.
Validators have the freedom of setting their own fees that Delegators (stakers) would pay to access nodes on the network.
Validators must first be approved by the Metanovaverse team, as the minimum requirement of holdings is 100,000 MNV, and their computer hardware must be compatible.
Delegators, in PoS chains, are users who fill the role of stakers. They must choose a Validator to help delegate their tokens for node access, and pay a certain amount in fees.
Like validating, delegating can be configured and started using either a CLI on users’ personal computers or a browser-based GUIs built by Metanovaverse that connect to their wallet and allow them to set delegation parameters, then displaying potential earnings.
