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Author: Admin | 2025-04-28
In Chia, the issuance schedule, also referred to as the block reward schedule, determines how many XCH get created with every block that gets farmed on the network. 1 XCH, or 1 Chia, is equivalent to 1,000,000,000,000 or 1x10^12 or 1 trillion mojos. All consensus code uses mojos; XCH is used as a conveniently larger unit.Strategic Reserve (pre-farm)The first block of the network pays out 21 million XCH, divided into a 1/8 coin and a 7/8 coin, to an address that Chia Network Inc controls. The purpose and future usage of the funds is described in the business white paper.HalvingsAll other coins go through a formula, where the block reward starts at 2 XCH per block, and halves every 3 years, a total of 4 times. The exact block at which halvings occur is 32 * 6 * 24 * 365 * 3 * x, where x is the index of the halving, starting at 1.0-3 years: 2 XCH3-6 years: 1 XCH6-9 years: 0.5 XCH9-12 years: 0.25 XCH12+: 0.125 XCHAfter the start of year 12, 0.125 XCH is created in perpetuity.Reward claimsIn most cryptocurrencies, the creator of a block pays themselves based on the current block reward. In Chia, there is a slight difference -- block rewards are paid in a future block, depending on whether the farmer's block is a transaction block or not.Option 1: If the farmer's block is a transaction block, the farmer will get paid on the next transaction block.Option 2: If the farmer's block is not a transaction block, the farmer will get paid on the next transaction block after the next transaction block (next next).Fees are also paid at the same time. Let's say a farmer creates a transaction block with 4.9 XCH of outputs, but 5 XCH of inputs (excluding reward claims). In this case, they will receive the remaining 0.1 XCH as a fee, plus their block reward, for a total of 2.1 XCH, in the next transaction block.Therefore, Chia coins are never destroyed. In a given block, any portion of a spent coin that is not added into a new coin
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