2024-03-11 21:55:27 +00:00
|
|
|
---
|
|
|
|
|
title: Economics
|
|
|
|
|
layout: default
|
|
|
|
|
nav_order: 4
|
|
|
|
|
has_children: true
|
|
|
|
|
---
|
2024-03-12 03:51:44 +00:00
|
|
|
|
|
|
|
|
# Economics
|
|
|
|
|
|
|
|
|
|
Serai's economics change depending on which of three eras is currently
|
|
|
|
|
occurring.
|
|
|
|
|
|
|
|
|
|
## Genesis Era
|
|
|
|
|
|
|
|
|
|
The network starts with the "Genesis" era, where the goal of the network is to
|
|
|
|
|
attract the liquidity necessary to facilitate swaps. This period will last for
|
|
|
|
|
30 days and will let anyone add liquidity to the protocol. Only with its
|
|
|
|
|
conclusion will SRI start being distributed.
|
|
|
|
|
|
|
|
|
|
After the Genesis era, the network enters the "Pre-Economic Security" era.
|
|
|
|
|
|
|
|
|
|
## Pre-Economic Security
|
|
|
|
|
|
|
|
|
|
{: .definition-title }
|
|
|
|
|
> Definition: Economic Security
|
|
|
|
|
>
|
|
|
|
|
> Economic security is derived from it being unprofitable to misbehave.
|
|
|
|
|
> This is by the economic penalty which is presumed to occur upon misbehavior
|
|
|
|
|
> exceeding the value which would presumably be gained.
|
|
|
|
|
> Accordingly, rational actors would behave properly, causing the protocol to
|
|
|
|
|
> maintain its integrity.
|
|
|
|
|
>
|
|
|
|
|
> For Serai specifically, the stake required to produce unintended signatures
|
|
|
|
|
> must exceed the value accessible via producing unintended signatures.
|
|
|
|
|
|
|
|
|
|
With liquidity provided, and swaps enabled, the goal is to have validators stake
|
|
|
|
|
sufficiently for economic security to be achieved. This is primarily via
|
|
|
|
|
offering freshly minted, staked SRI to would-be validators who decide to swap
|
|
|
|
|
external coins for their stake.
|
|
|
|
|
|
|
|
|
|
## Post-Economic Security
|
|
|
|
|
|
|
|
|
|
Having achieved economic security, the protocol changes its economics one last
|
|
|
|
|
time (barring future upgrades to the protocol) to a 'normal' state of
|
|
|
|
|
operations.
|
