Here’s New Plan of Block Reward Distribution and Firo Token Emission
2024-09-02
Bittime - Firo confirmed new plans for token emission and block reward distribution. This plan was finalized through a community governance process and includes several changes.
New Firo Block Reward Distribution
One change; The biggest thing in Firo's new plan is block reward distribution. Block reward distribution will be allocated as follows:
- 70% for masternodes
- 5% for miners
- 15% for the development team
- 10% for the community
With a large allocation to masternodes, Firo wants to provide better incentives for users who support and secure the network.
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Firo Token Emission
In addition to block reward distribution, Firo also introduces new token emissions. Until the total supply reaches 21.4 million FIRO, there will be fixed emissions of 6.25 FIRO per block.
Once this supply amount is reached, there will be a further emission of 1 FIRO per block. These advanced emissions are designed to ensure that there is always a stable security subsidy for the network.
Impact of Firo Changes
These changes have a major impact in providing better incentives for masternodes over the next 4 years. With a 70% block reward allocation, masternodes will have an important role in the Firo network.
Although miners will get a smaller share of rewards, the PoW/masternode hybrid consensus mechanism will still be maintained, keeping the Firo network protected from cyberattacks.
Once the initial supply of 21.4 million FIRO is reached, subsequent emissions of 1 FIRO per block will ensure that network security remains stable, without excessive inflation or significant deflation.
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