FAQ: Blurt Tokonomics

In this post I want to share some raw facts and figures so that the users would understand a few things about the Blurt token and it's supply.

A few users have been writing about the amount of Blurt tokens in existence and it is clear that most of these people do not know much about how many Blurt tokens are created and what is the total supply of tokens in existence.

What is a Blockchain Explorer?

Blockchain explorer is what the Quran is to the Muslims, the Bible to the Christians and the tin foil hat is to the conspiracy junkies.

The explorer holds all the information about a particular Blockchain.

A typical Blockchain explorer has the following information:

1. Total supply
2. Circulating supply
3. Price
4. Transaction fees
5. Reward Fund (Blurt, Hive, Steem)
6. Last transaction
7. Validator/witness list
8. Market Cap

There can be more information but I think these are pretty much common to all the chains.

Let me give you a few examples of Blockchain Explorers:

• https://www.blockchain.com/explorer
• https://etherscan.io/

Blurt Blockchain Explorer

Like most Blockchains Blurt also has a Block Explorer where you can find all the information about the Blockchain.

Blurt has two explorers one is run by the Blurt Core and the other is run by the Ecosynthesizer team.

Here are the links:

1. https://blocks.blurtwallet.com/#/
2. https://ecosynthesizer.com/blurt/

Let us now try to find out some information about Blurt.

What is the total supply of Blurt?

There are around 479,425,773.135 Blurt tokens ever created. These tokens are on exchange wallets or in user's wallet. The total number of tokens represent both Powered up Blurt and Liquid Blurt.

What's the difference between Circulating Supply and Total Supply?

Total supply means the total number of tokens ever created or will be created on a blockchain. When there is a total supply mentioned that means that this is the max tokens that will be out there.

Example: The max supply of Bitcoin is 21 million and they will be slowly created over the several years.

While circulating supply means the amount of tokens in circulation and there might be more tokens that will be eventually created.

Total Supply & Circulating Supply on Blurt

Blurt is an inflationary token where new tokens are created and distributed amongst the users on a daily basis.

So, there is no total supply or max supply for Blurt because users are rewarded with tokens each day and this adds up to the circulating supply.

I remember reading a post recently where a user claimed that Blurt might have more tokens than mentioned in the Blockexplorer but that is not the case. The Blurt Blockchain is public and anyone can gather information from the Blockchain.

If there were more tokens than the amount mentioned in the Blockexplorer then I guess users with enough knowledge can audit the Blockchain and get the exact number.

Most of these claims come from users who have no idea what a blockchain is and are usually those that have just heard rumours and believe them to be facts.

Most Blockchains are public and you can get all the information about the chain and if you are not so techy then you can hire someone to get you all the information you need.

Reward Fund

Before we go ahead and talk more I think it is really important to know about the reward fund or reward pool.

Blurt is a social media site where users can publish content and get rewarded.

So, that means that each post will have to be rewarded and new Blurt tokens have to be created so that users can be rewarded.

The Blurt Blockchain creates a fixed number of tokens per block and are then collected in the reward fund which will be later distributed to the users as and when their posts reaches 7 days.

Here's the break down of what happens with the Blurt tokens created.

1. 65% of new Blurt created goes to the reward pool to be distributed to authors.
2. 15% of the new Blurt created goes to staking rewards. It is the interest paid on staked Blurt.
3. 10% goes to the DAO fund.
4. 10% goes to the witnesses as producer reward.

Here is a screenshot from the Blurt explorer:

Each time a post reaches 7 days the amount of votes recieved is then sent to the author and the curators.

Inflation

The current inflation on Blurt is around 9% and each year 9% more tokens are created.

How many tokens were created this year?

I read a post or a comment somewhere where a user mentioned that 40 million tokens were created in the last six months but this is not the fact.

If you take a look at the Reward Fund you will know that 1,934,723.164 were created for the next 15 days.

For the sake of simplicity we can divide 1,934,723.164 by 15 and get the per day value. Each day more or less 128,981.544 tokens are distributed among the users. This number can be slightly more or less depending on various factors.

Now let's see how many tokens are created in a month:

128,981.544x30 = 3,869,446.32 Blurt tokens per month.

Now let's see how many tokens were created in a year:
128,981.544x365 = 46,680,458.9 Blurt tokens created in a year and this number can be slightly more or a bit less due to various factors.

So, it is safe to say that there are around 47 million tokens created in a year.

Staked Supply & Liquid Supply of Blurt

Staked supply means the Blurt tokens that have been powered up by users normally called Blurt Power and it takes 4 weeks to power down or convert this staked supply into liquid Blurt.

Total supply or circulating supply is around: 479,524,371.353

Total Staked Supply of Blurt is around: 269637891.728

56% of Blurt tokens ever created are staked and this is huge. More than half of the tokens are powered up. One thing that tells me about this stat is that most uses here are for the long term.

But wait... How did I come up with the number 56%? Well, I could have calculated it myself but I might have got the numbers wrong so I used an online calculator that helps me get % of whatever number I give.

Here's the link and the screenshot:

https://www.calculatorsoup.com/calculators/math/percentage.php

Want more information?

I guess I have covered a lot of information and I will share more information in the days to come.

Before I go I will share a few links that can help you understand the Blurt Tokonomics better.

Blurt Core team member and resident mathematician @rycharde writes a weekly post explaining the Blurt Economics Indicators. It is a must read for anyone who is interested in knowing more about Blurt or crypto economics in general.

And I know there can be a lot of words used in his posts and not everyone can know them so Rycharde created this post where he explained all the jargons.

Take a look at these post:

https://blurt.blog/blurt/@rycharde/blurt-economic-indicators-explained#

https://blurt.live/blurt/@rycharde/blurt-economic-indicators-6-november-2022

Questions?

Ask your questions and I'll answer them to the best of my ability.

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1. https://blurtwallet.com/~witnesses?highlight=imransoudagar
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4. https://blurtwallet.com/~witnesses?highlight=tekraze

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1. Blurt front-end : https://blurt.live/
2. RPC Node : https://rpc.blurt.live
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4. COAL list : https://coal.blurt.live

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