Most token schedules are written as a table: year one, so many tokens; year two, so many fewer. EmpoorioChain's is written as a single formula evaluated by the runtime once every era, and the numbers fall out of it. This post explains the formula and the design decisions around it, from the canonical tokenomics document.
The era
An era is 24 hours — 365 per year. It is the unit of economic time: staking rewards are calculated per era, and emission is minted per era. Eras are counted from block timestamps, which are themselves agreed by consensus, so the economic calendar cannot drift or be manipulated by any single validator.
The gap-decay formula
emission_per_era = (supply_cap − current_supply) × 0.0083446 %
Each era the chain mints a fixed fraction — 83,446 parts per billion — of the remaining gap between the current supply and the cap. Three consequences follow directly:
- Emission decreases every era, forever, because the gap shrinks.
- The cap is never reached. The curve is asymptotic. Documents that said the supply "reaches its cap in 65 years" were describing a different, discarded model.
- Annual emission is about 3 % of the gap — not 3 % of the supply. As the gap closes, the same rule mints ever less.
An earlier proposal of a flat ~2 % annual emission over the outstanding stock was considered and discarded; it is recorded in the tokenomics file under a _descartado key precisely so nobody reintroduces it by accident.
Where emission goes
The minted DMS is split among validators and nominators (staking), the treasury and ecosystem allocations under the governance rules. The split is a parameter, not a promise: it is in TOKENOMICS.json and changes only through the economic-upgrade class of runtime upgrade, which carries a 28,800-block timelock and requires an economic simulation and a dry-run migration.
Why there is no published APY
Staking yield depends on how much DMS is staked, how much is emitted this era, and how it is split. None of those is fixed. Publishing "X % APY" would be promising something the protocol does not fix — the tokenomics document says so in those words. What is fixed is a ceiling: nominal staking APY is capped at 20 %. That is a limit, not a target, and anything in the ecosystem that presents it as a target is wrong.
Supply
- Initial supply at genesis: 1,000,000,000 DMS (the live testnet reports 1,000,826,129 DMS including emission since genesis).
- Decimals: 18.
- Public sale: 150,000,000 DMS (15 % of initial supply) at $0.65, raising $97.5 M if fully subscribed, in a single public phase. An earlier two-round plan — a private round at $0.35 and a public round at $0.85 — was cancelled and replaced by this single round; the private-sale bucket in the chain spec is zero.
Encoding time as data
Because eras derive from consensus timestamps and the emission rule is deterministic, anyone can recompute the entire supply curve from the genesis block forward with nothing but the chain. There is no off-chain schedule to trust. That is the property the title refers to: the chain's economic history is a function of its block history, and both are verifiable by a light client with a BEEFY proof.
Based on TOKENOMICS.json (the single source of truth for pricing and emission, enforced by a CI gate), TOKENOMICS_CANONICO.md and RED.json.