Post
Topic
Board Marketplace (Altcoins)
Re: ANN GryfX Alts Options Market Release October 1st - GryfenCoin, Shares, Broker
by
baronvonclausewitz
on 28/09/2014, 20:02:20 UTC
Marechoux,

1. Class A shares pay out a higher rate because there are more, and they remain in an account that is the backup backing for gryfX.  There are 2 Billion and they just stay there and stake.
Class B shares pay out of an account that starts off as 500 Million.  It is the direct backup for gryfX.com.   This means this is the account that funds pay out from on gryfX.
So consequently; the range fluctuates between 250-450 Million Coins.  Why a fluctuation?  Sunk options and losses to the user on poor options choices  go back in to this account so there is a flow of coins both in and out.  We leave 50 Million free in Reserve to have the liquidity to back options payouts on gryfX.

The shares pay out over a month giving approx. 12,903 coins a day, over a month.  This is to reduce the footprint of additional coins and to taper them in.
Class B shares could expect anywhere from 1,000-3,500 coins a day - depending on the amount.  If the 50Million set-aside depletes then it draws from the 250-450Million coin account - thus the root of the variation in payouts.

2.The amount of coins actually in circulation right now is 72.5 Million.  We used 1 Trillion as our limit because we wanted to leave room to account for advances in computing & technology.
You're looking at it like the 1 Trillion coins has already happened, the actual situation is the number of coins in actual circulation is 72.5 Million.
Another advantage of the high coin cap is not only does the coin fight inflation but it fights dangerous deflationary pressures as well so it will be more likely to be spent and used vs. saved and dumped.
Things that bring the coin into circulation are 1.Proof of Work Mining, 2.Proof of Stake Minting, and 3.speculating on gryfX.