Grin’s emission rate is constant and linear to time at a rate of 1 GRIN every second. This means circulating supply increases over time, and the ratio of 1 GRIN to circulating supply decreases at a logarithmic rate. This proposal describes how a unit of measurement could reflect this relationship between a X amount of GRIN and circulating supply using two new units: Gringott and Gott with the symbols Gg and g, respectively.
1Gg = total circulating supply
1g = 1Gg / Seconds in a year
(Seconds in a year = 31,557,600 = 365.25 * 24 * 60 * 60)
A constant of only 31,557,600g and 1Gg units in circulation at all times. This does nothing to affect account balances when measured in the standard unit (ツ), but it will have an effect on balances measured in these new units in a predictable way.
1Gg represents the total of all Grin created so far. While 1g will represent a single grin for every year passing.
|Year||Grin = Gotts||Gotts = Grin|
|1||1 = 1||1 = 1|
|2||2 = 1||1 = 0.5|
|2||3 = 1||1 = 1/3|
|2||4 = 1||1 = 0.25|
1g is a dynamic unit that will increase in size over time. Pricing in this unit will account for the changes in the size of 1Gg. It will increase less and less every year on a logarithmic curve that has been called the “monetary inflation rate”:
By pricing in units of Gotts (g), the price of products and the exchange rates would remain consistent with the increasing supply circulation of Grin. This means a product priced as Xg will remain fixed to the overall market capitalization of the supply of grin (1Gg). As the market cap changes, the value of 1g will change at a fixed proportion.
Comments on implementing such unit measurements in user-facing interfaces and tools such as wallets? Could participants benefit from these measurements when pricing items in marketplaces online or rates on exchanges?
Requesting comments on the ratio between 1Gg and 1g; should the denominator be higher causing the unit of 1g to be in smaller proportion to 1Gg?.