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Chain rules

Parameters

Unstaking takes 14 days 6 min and only the top 125 validators by stake are active. A proposal needs 8,000 CHEQ to reach a vote and 33.4% of the voting power to count.

Unbonding

14 days 6 min

to unstake

Active set

125

validators

Voting period

5 days

expedited 1 day

Inflation

1%–2%

target 60% bonded

What they meanread from the chain 12:04 UTC

If you stake

  • Unstaking locks your tokens for 14 days 6 min; they earn nothing meanwhile.
  • Up to 7 unbondings or redelegations at once per validator.
  • Validators charge at least 0% commission.
  • 10% of rewards goes to the community pool.

If you validate

  • Only the top 125 by stake sign blocks and earn.
  • Sign at least 50% of the last 25,920 blocks or get jailed for 10 min, losing 1% of the stake.
  • Double-signing burns 5% of the stake and bans the validator for good.

If you propose

  • Deposit 8,000 CHEQ within 7 days.
  • Voting lasts 5 days: 33.4% must vote, over 50% yes, under 33.4% veto.
  • Expedited: 8,000 CHEQ, 1 day and 66.7% yes.
  • A veto burns the deposit; missing quorum returns it.

Staking

Who validates and how long unstaking takes.

Unbonding TimeTime tokens remain locked after undelegating before they become liquid.
14 days 6 min1210000s
Max ValidatorsMaximum number of validators in the active set.
125
Max EntriesMax simultaneous unbonding/redelegation entries per pair.
7
Historical EntriesNumber of historical staking infos kept on-chain (used by IBC).
10,000
Bond DenomNative token denomination used for staking.
ncheq
Min Commission RateMinimum commission rate a validator can set.
0%

Slashing

What a validator loses for downtime or double-signing.

Signed Blocks WindowRolling window of blocks used to measure validator uptime.
25,920
Min Signed Per WindowMinimum share of blocks a validator must sign within the window to avoid jailing.
50%
Downtime Jail DurationHow long a validator stays jailed after being slashed for downtime.
10 min600s
Slash Fraction Double SignStake slashed when a validator double-signs.
5%
Slash Fraction DowntimeStake slashed when a validator exceeds allowed downtime.
1%

Governance

How proposals are made and decided.

Burn Proposal Deposit PrevoteWhether deposits are burned when the deposit period expires.
Off
Burn Vote QuorumWhether deposits are burned when quorum is not reached.
Off
Burn Vote VetoWhether deposits are burned when the proposal is vetoed.
On
Expedited Min DepositMinimum deposit required for an expedited proposal.
8,000 CHEQ
Expedited ThresholdYes-vote share required to pass an expedited proposal.
66.7%
Expedited Voting PeriodVoting period for expedited proposals.
1 day86400s
Max Deposit PeriodTime allowed to reach the minimum deposit before a proposal is dropped.
7 days604800s
Min DepositMinimum deposit required for a proposal to enter voting.
8,000 CHEQ
Min Deposit Ratio
1%
Min Initial Deposit RatioShare of the min deposit required at submission time.
0%
Proposal Cancel Dest
—
Proposal Cancel Ratio
50%
QuorumMinimum share of voting power that must vote for the result to be valid.
33.4%
ThresholdShare of Yes votes (excluding abstain) required to pass.
50%
Veto ThresholdShare of NoWithVeto votes that rejects the proposal and burns the deposit.
33.4%
Voting PeriodHow long a proposal stays open for voting.
5 days432000s

Distribution

Where block rewards go.

Community TaxShare of block rewards sent to the community pool.
10%
Base Proposer RewardBase reward share for the block proposer.
0%
Bonus Proposer RewardExtra proposer reward share based on included precommits.
0%
Withdraw Addr EnabledWhether delegators can set a separate withdraw address.
On

Mint

How new tokens are issued.

Mint DenomDenomination of newly minted tokens.
ncheq
Inflation Rate ChangeMax yearly speed at which inflation can adjust.
0.1%
Inflation MaxUpper bound for the inflation rate.
2%
Inflation MinLower bound for the inflation rate.
1%
Goal BondedTarget bonded ratio; inflation adjusts to push toward this goal.
60%
Blocks Per YearEstimated blocks per year used for inflation math.
5,256,000

Fee market

How the base gas price follows demand.

Alpha
0
Beta
1
Gamma
0
Delta
0
Min Base Gas Price
0.5
Min Learning Rate
0.125
Max Learning Rate
0.125
Max Block Utilization
30,000,000
Window
1
Fee Denom
ncheq
Enabled
On
Distribute Fees
Off

Bank

Whether tokens can be sent.

Send EnabledPer-denom overrides for whether transfers are allowed.
—
Default Send EnabledWhether token transfers are enabled by default.
On

Auth

Transaction limits and signature costs.

Max Memo CharactersMaximum length of a transaction memo.
512
Tx Sig LimitMaximum number of signatures per transaction.
7
Tx Size Cost Per ByteGas cost per transaction byte.
10
Sig Verify Cost Ed25519Gas cost of verifying an ed25519 signature.
590
Sig Verify Cost Secp256k1Gas cost of verifying a secp256k1 signature.
1,000

IBC transfer

IBC token transfers in and out.

Send Enabled
On
Receive Enabled
On