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