fix: update total STX supply to the year 2050 projected amount #1531

zone117x · 2023-01-26T11:09:11Z

The liquid stx amount that is calculated from the postgres db is accurate (or at least it matches the total_liquid_supply_ustx value reported by the stacks-node):

/extended/v1/stx_supply - unlocked_stx: 1357774888442244 matches:
/v2/pox - total_liquid_supply_ustx: 1357774888442244

However, the total_stx value is incorrect, and is currently greater than the liquid stx supply.

The total_stx value is a constant that was copied from the Stacks 1.0 codebase, see #466

This was copied from the legacy 1.0 API codebase.

stacks-blockchain-api/src/helpers.ts

Lines 220 to 222 in b6018dc

    
           export const TOTAL_STACKS = new BigNumber(1320000000) 
        
             .plus(322146 * 100 + 5 * 50000) // air drop 
        
             .toString();

Here's what the Stacks 2.0 whitepaper states about about the STX supply:

Block reward: 1000 STX/block for first 4 yrs; 500 STX/block for following 4 yrs; 250 for the 4 yrs after that; and then 125 STX/block in perpetuity after that.
...
The Stacks cryptocurrency has a predefined future supply that reaches approx 1,818M STX by year 2050 ...

This PR changes the total_stx value to the year 2050 projected STX amount, because "125 STX/block in perpetuity" means the total supply is not a constant.

…d in the Stacks 2.0 whitepaper

github-actions · 2023-01-26T11:12:17Z

🚀 Deployed on https://deploy-preview-1531--stacks-blockchain-api.netlify.app

zone117x · 2023-01-26T11:44:46Z

src/helpers.ts

+// See the Stacks 2.0 whitepaper: https://cloudflare-ipfs.com/ipfs/QmaGgiVHymeDjAc3aF1AwyhiFFwN97pme5m536cHT4FsAW
+//   > The Stacks cryptocurrency has a predefined future supply that reaches approx 1,818M STX by year 2050
+//   > Block reward: 1000 STX/block for first 4 yrs;
+//   > 500 STX/block for following 4 yrs;
+//   > 250 for the 4 yrs after that; and then 125 STX/block in perpetuity after that.


@kantai does the Stacks implementation match this whitepaper description?

Yes, though it uses bitcoin block height as opposed to calendar years:

See:

let effective_ht = burn_block_height.saturating_sub(first_burn_block_height); let blocks_per_year = 52596; let stx_reward = if effective_ht < blocks_per_year * 4 { 1000 } else if effective_ht < blocks_per_year * 8 { 500 } else if effective_ht < blocks_per_year * 12 { 250 } else { 125 };

from

https://github.com/stacks-network/stacks-blockchain/blob/master/src/chainstate/stacks/db/blocks.rs#L4136-L4171

first_burn_block_height is 666050

codecov-commenter · 2023-01-26T11:44:52Z

Codecov Report

Merging #1531 (9ecd869) into master (b6018dc) will increase coverage by 0.09%.
The diff coverage is 100.00%.

📣 This organization is not using Codecov’s GitHub App Integration. We recommend you install it so Codecov can continue to function properly for your repositories. Learn more

@@            Coverage Diff             @@
##           master    #1531      +/-   ##
==========================================
+ Coverage   77.87%   77.97%   +0.09%     
==========================================
  Files         105      105              
  Lines       10443    10443              
  Branches     2245     2245              
==========================================
+ Hits         8133     8143      +10     
+ Misses       2201     2192       -9     
+ Partials      109      108       -1

Impacted Files	Coverage Δ
src/helpers.ts	`68.46% <100.00%> (+0.76%)`	⬆️
src/datastore/pg-write-store.ts	`92.04% <0.00%> (+0.12%)`	⬆️
src/event-stream/event-server.ts	`79.81% <0.00%> (+1.55%)`	⬆️

Help us with your feedback. Take ten seconds to tell us how you rate us. Have a feature suggestion? Share it here.

zone117x · 2023-01-26T11:45:11Z

src/helpers.ts

+// We are going to use the year 2050 projected supply because "125 STX/block in perpetuity" means the total supply is infinite.
+export const TOTAL_STACKS = new BigNumber(1_818_000_000n.toString());


@diwakergupta thoughts on using this value?

Yeah anchoring on 2050 supply makes sense. I would also update the docs for this endpoint to include this qualified in big bold letters.

Docs updated 👍

coveralls · 2023-01-26T12:02:07Z

Coverage: 77.723% (+0.1%) from 77.624% when pulling 9ecd869 on fix/total-stx-supply into b6018dc on master.

rafaelcr

LGTM

## [6.3.3](v6.3.2...v6.3.3) (2023-01-27) ### Bug Fixes * update total STX supply to the year 2050 projected amount ([#1531](#1531)) ([0689f60](0689f60))

blockstack-devops · 2023-01-27T08:25:58Z

🎉 This PR is included in version 6.3.3 🎉

The release is available on:

Your semantic-release bot 📦🚀

## [7.0.0-beta.4](v7.0.0-beta.3...v7.0.0-beta.4) (2023-02-03) ### Features * add `smartContractUpdate` and `smartContractLogUpdate` to `PgWriteStore` event emitter ([#1462](#1462)) ([bce0ef9](bce0ef9)) ### Bug Fixes * add block_height index to contract_logs ([#1534](#1534)) ([dc53af2](dc53af2)) * add contract_identifier index on contract_logs table ([#1523](#1523)) ([1f16513](1f16513)) * avoid selecting `raw_tx` column on read queries ([#1453](#1453)) ([5acfc96](5acfc96)) * build rosetta with node 16 ([654b64f](654b64f)) * datastore tests ([bb96507](bb96507)) * is_unanchored property on /extended/v1/tx/:tx_id ([#1487](#1487)) ([4b85058](4b85058)) * lint docs ci dependencies ([#1458](#1458)) ([19c3a0d](19c3a0d)) * stop resolving revoked BNS names ([#1519](#1519)) ([095c4fc](095c4fc)) * test tx types ([11b9013](11b9013)) * update total STX supply to the year 2050 projected amount ([#1531](#1531)) ([0689f60](0689f60))

blockstack-devops · 2023-02-03T19:16:19Z

🎉 This PR is included in version 7.0.0-beta.4 🎉

The release is available on:

Your semantic-release bot 📦🚀

fix: update total STX supply to the year 2050 projected amount define…

dc483af

…d in the Stacks 2.0 whitepaper

zone117x requested review from rafaelcr and kantai January 26, 2023 11:09

github-actions bot temporarily deployed to pull request January 26, 2023 11:12 Inactive

zone117x requested a review from diwakergupta January 26, 2023 11:12

zone117x self-assigned this Jan 26, 2023

test: update unit tests for stx supply

8dd785d

github-actions bot temporarily deployed to commit January 26, 2023 11:44 Inactive

github-actions bot temporarily deployed to pull request January 26, 2023 11:44 Inactive

zone117x commented Jan 26, 2023

View reviewed changes

zone117x marked this pull request as ready for review January 26, 2023 11:52

rafaelcr approved these changes Jan 26, 2023

View reviewed changes

docs: note the year 2050 total STX supply

9ecd869

github-actions bot temporarily deployed to pull request January 26, 2023 15:30 Inactive

github-actions bot temporarily deployed to commit January 26, 2023 15:30 Inactive

kantai approved these changes Jan 26, 2023

View reviewed changes

diwakergupta mentioned this pull request Jan 26, 2023

100.40% is unlocked hirosystems/explorer#975

Closed

zone117x merged commit 0689f60 into master Jan 27, 2023

zone117x deleted the fix/total-stx-supply branch January 27, 2023 08:18

blockstack-devops pushed a commit that referenced this pull request Jan 27, 2023

chore(release): 6.3.3 [skip ci]

e9eca08

## [6.3.3](v6.3.2...v6.3.3) (2023-01-27) ### Bug Fixes * update total STX supply to the year 2050 projected amount ([#1531](#1531)) ([0689f60](0689f60))

blockstack-devops added the released label Jan 27, 2023

blockstack-devops added the released on @beta label Feb 3, 2023

Provide feedback

Saved searches

Use saved searches to filter your results more quickly

fix: update total STX supply to the year 2050 projected amount #1531

fix: update total STX supply to the year 2050 projected amount #1531

zone117x commented Jan 26, 2023 •

edited

Loading

github-actions bot commented Jan 26, 2023 •

edited

Loading

zone117x Jan 26, 2023

kantai Jan 26, 2023

codecov-commenter commented Jan 26, 2023 •

edited

Loading

zone117x Jan 26, 2023

diwakergupta Jan 26, 2023

zone117x Jan 26, 2023

coveralls commented Jan 26, 2023 •

edited

Loading

rafaelcr left a comment

blockstack-devops commented Jan 27, 2023

blockstack-devops commented Feb 3, 2023

	export const TOTAL_STACKS = new BigNumber(1320000000)
	.plus(322146 * 100 + 5 * 50000) // air drop
	.toString();

		// We are going to use the year 2050 projected supply because "125 STX/block in perpetuity" means the total supply is infinite.
		export const TOTAL_STACKS = new BigNumber(1_818_000_000n.toString());

fix: update total STX supply to the year 2050 projected amount #1531

fix: update total STX supply to the year 2050 projected amount #1531

Conversation

zone117x commented Jan 26, 2023 • edited Loading

github-actions bot commented Jan 26, 2023 • edited Loading

zone117x Jan 26, 2023

Choose a reason for hiding this comment

kantai Jan 26, 2023

Choose a reason for hiding this comment

codecov-commenter commented Jan 26, 2023 • edited Loading

Codecov Report

zone117x Jan 26, 2023

Choose a reason for hiding this comment

diwakergupta Jan 26, 2023

Choose a reason for hiding this comment

zone117x Jan 26, 2023

Choose a reason for hiding this comment

coveralls commented Jan 26, 2023 • edited Loading

rafaelcr left a comment

Choose a reason for hiding this comment

blockstack-devops commented Jan 27, 2023

blockstack-devops commented Feb 3, 2023

zone117x commented Jan 26, 2023 •

edited

Loading

github-actions bot commented Jan 26, 2023 •

edited

Loading

codecov-commenter commented Jan 26, 2023 •

edited

Loading

coveralls commented Jan 26, 2023 •

edited

Loading