Inflation Rate in Hive
The inflation rate in Hive decreases at the rate of 0.01% per 250000 blocks. The current inflation rate can be calculated as per the following formula:
Current_inflation_rate = (978 - (head_block_number / 250000)) / 100
Head block number can be obtained from Hiveblocks.com. It is the latest block of the Hive chain.
The current head block number= 42,065,525
Current inflation rate in Hive= (978- (42065525/250000))/100= 809.73/100= 8.097%
Hive tokens being minted every day
The formula to calculate the number of HIVE that is being minted per block is:
new_hive = ( ( virtual_supply * current_inflation_rate ) / ( 10000 * BLOCKS_PER_YEAR ) )
Virtual supply= Total supply of HIVE including the HBD in the equivalent of HIVE at the current rate, as HBD is backed by HIVE. This figure can be obtained from Hiveblocks.com
The current total supply of HIVE= 370,786,062
Current inflation rate= 8.097% (just calculated above)
Blocks per year- One block is created every 3 seconds, so per year it will be 10,512,000 blocks.
Every 3 seconds= 1 block
Every 1 minute= 20 blocks
Every day= 20 * 60 * 24= 28800 blocks
Every year= 28800 * 365= 10,512,000 blocks
New HIVE per block= ((370,786,062 * 809.7 )/(10000 * 10512000)) = 2.856
So 2.856 new HIVE is being minted per block per day
Every 3 seconds a new block is created in Hive blockchain.
So for every day, the total number of blocks= (60/3) * 60 * 24=28,800
So the total number of new HIVE being created per day= 28,800*2.856= 82252.8
Of 82252.8 HIVE, 65% will be distributed to content creators and curators, 10% to DHF, 15% to vested token holders and the remaining 10% to witnesses.
DHF- Decentralized Hive Fund
Vested token holders- HIVE Power holders
Distribution of new Hive token every day:
- Content creator & curator- (65%)- 82252.8 * 0.65= 53464.32 HIVE
- DHF- (10%)- 82252.8 * 0.1= 8225.28 HIVE
- HP Holders- (15%)- 82252.8 * 0.15= 12337.92 HIVE
- Witnesses- (10%)- 82252.8 * 0.1= 8225.28 HIVE
Note- The new HIVE that is being added each day to the reward pool may not be fixed and may slightly vary as it depends on a number of factors, including the variables like total supply which also vary each day, although not by a big margin, but that matters while calculating the exact number of tokens per day.
Thank you.