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Mint Module

/babylon/x/mint

The mint module is responsible for managing the Babylon Genesis's token supply and inflation. It controls the minting of new tokens based on pre-defined infaltion schedules.

This module has a few key functions in implementing economic policies:

  • Token supply management and inflation control
  • Network security and economic stability

The module is important because it:

  • controls network-wide token emission and inflation
  • provides sustanable rewards for validators and stakers
  • enable monetary policy flexibility via governance processes

The module is the key to long-term economic sustainability of the network.

Token Supply Management​

The mint module manages network's token supply via:

  • calculate new token issurance based on inflation rate
  • Tracking annual provisions to maintain target inflation rate
  • Adjust token supply based on network parameters
  • Manage bond denomination of minted tokens

Note that this module requires initial state configuration at genesis, including bond denomination and minting parameters.

State Management​

The mint module maintains the following state variables:

  • inflation_rate: current inflation rate (e.g. 10% per year)
  • annual_provisions: current annual token provision to be minted
  • pre_vious_block_time: timestamp of the last block
  • bond_denom: denomination of toekns. A genesis state of determins the initial denomination for miniting.

Endpoints​

The mint module exposes the following endpoint:

  • GET /cosmos/mint/v1beta1/inflation_rate - to query current inflation rate
  • GET /cosmos/mint/v1beta1/annual_provisions - to query current annual token provisions
  • GET /cosmos/mint/v1beta1/genesis_time - to query chain's genesis timestamp