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Inflation

The system smart contract that initiate inflation. Can be started by any account, but the network will only accept one transaction every 7 days.

The operation creates XATs to the extent of 1% per year of the total amount of XATs in circulation and places the created tokens in an inflationary system pool.

Pseudocode

inflationPool.amount += (totalTokens - lockedPool.amount) * 0.000190721

Description

  • inflationPool is replenished by an amount equal to 0.0190721% of the number of XATs in circulation. This is about 1% per year, since the inflation operation is being triggered once a week
  • the number of XATs in circulation is the total number of XATs had beenissued (including tokens issued during inflation) minus the number of locked tokens (i.e., the amount of tokens in lockedPool)