FBX halving countdown

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What is a Bitcoin block halving event?
A Bitcoin block halving event occurs approximately every four years, or every 210,000 blocks on the Bitcoin blockchain. Initially, the block reward for mining Bitcoin was 50 BTC. This reward has gradually decreased and is currently 3.125 BTC. The next reduction will bring the reward down to 1.5625 BTC. This programmed reduction slows the rate at which new Bitcoins are generated.

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Why was this done?
Traditional fiat currencies are prone to inflation because governments and banks can increase the money supply. Bitcoin, on the other hand, has a capped total supply of 21,000,000 BTC, ensuring no more coins can be created beyond this limit. This finite supply, combined with increasing demand as more people adopt Bitcoin, makes it similar to gold—a resource with a limited supply that cannot be artificially increased.

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What about FBX?
Unlike Bitcoin, which experiences halving events every four years leading to market volatility and speculation, FBX has a continuously decreasing emission rate. This method avoids the supply shock observed after each Bitcoin halving.
Every day, 1/1336th of the remaining FBX can be claimed by EP stakers. This means that roughly every two and a half years, the emission received by EP stakers is halved. At our second FBX halving in 2027, only 5,250,000 FBX will remain to be distributed. This steady decrease in supply is programmed into FBX's emission smart contract and is unstoppable, much like Bitcoin’s halving mechanism but more gradual and stable.

The FireBot ecosystem

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FireBot aims to maximize the potential of DeFi strategies, and yield-generating protocols to offer tokenized investment vehicles for its users. We engineer and structure investment strategies available through smart-contracts deployed on the Polygon blockchain. Their objectives range from high yield to principal protection.

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Ultra-Sound Money Tokenomics 🦇🔊

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The maximum FBX supply is 21,000,000. However, the protocol has already burned 7,001,288, and only 6,056,497 are currently in circulation. The remaining 8,183,500 are locked in the emission contract.

The only way to unlock FBX is to acquire and stake Elemental Particles, our Proof-Of-Burn tokens. Anyone can create (mint) new EP tokens by burning FBX at 300 FBX per EP. In total, this currently removes about 578 FBX from circulation per day.

Each day, the contract emits 1/1336th of the remaining locked FBX. Like Bitcoin, which goes through a halving every four years, the emission contract will release fewer tokens over time.

Today, the owners of the 33,886 EP tokens staked in the contract will share 5,513 FBX. 1 EP currently yields 0.1627 FBX per day.

These mechanisms ensure a decreasing inflation for the FBX token as the contract distributes fewer tokens every day. Additionally, a regular burn reduces the existing supply as users compete to get the highest share of the emission by burning FBX to acquire and stake more EPs.

If capped-supply gold is sound, decreasing-supply FBX is ultra-sound.