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docs(constitution): $GNOT vesting schedule and inflation #5566

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docs(constitution): $GNOT vesting schedule and inflation #5566

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18 changes: 12 additions & 6 deletions docs/CONSTITUTION.md
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Expand Up @@ -125,7 +125,12 @@ At Gno.land Genesis there will be one billion $GNOT tokens.

$GNOT will not be transferrable initially except for whitelisted addresses.
Whitelisted addresses include "Ecosystem" and "Investors" funds and any
additional addresses needed for the operation of the chain.
additional addresses needed for the operation of the chain. Whitelisted
funds remain subject to the vesting schedule below.

All Genesis $GNOT allocations vest on a common schedule: 7% released on the
day $GNOT becomes transferrable (aka the mainnet), 7% each subsequent month,
and 9% in the final month (fully vested 13 months after the mainnet).

The 7% (qualified, private) investors allocation will be held by NT,LLC in a
segregated account. Proceeds of sales of these tokens will go toward NT,LLC for
Expand Down Expand Up @@ -205,16 +210,17 @@ $GNOT, or even those forked of Gno.land and the GnoVM in the future.

## $GNOT (Deflationary) Inflation

From the date of launch every year 33.33*(0.9^Y) million $GNOT will be inflated
continuously (where Y is the year from launch starting from 0). This is 3.333%
Starting one year after $GNOT becomes transferrable (aka the mainnet), every
year 33.33*(0.9^Y) million $GNOT will be inflated continuously (where Y is the
year from inflation start, starting from 0). This is 3.333%
of the Gno.land Genesis $GNOT supply in the first year, decaying by 10% each
subsequent year. Any inflationary $GNOT not
transferred will accrue until the Gno.land software is updated to transfer such
funds.

* After 3 years this represents 90.32 million $GNOT.
* After 10 years this represents 217.09 million $GNOT.
* After 100 years this represents 333.29 million $GNOT.
* After 3 years of inflation this represents 90.32 million $GNOT.
* After 10 years of inflation this represents 217.09 million $GNOT.
* After 100 years of inflation this represents 333.29 million $GNOT.

At most there will be 1.333... billion $GNOT, representing a total inflation of
one third of the genesis $GNOT distribution. This amount cannot change even
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