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Milestones

Milestones are block heights that trigger economic parameter changes in Monolythium. This guide explains the milestone system and inflation schedule.

Milestone Overview​

MilestoneTriggerEffect
GenesisBlock 0Network starts, 0% inflation
rewards_start_heightConfigured heightInflation begins at 0.9%
switch_8pct_heightConfigured height + GuardInflation increases to 8%

Inflation Phases​

Phase 0: Genesis Period (0% Inflation)​

From genesis until rewards_start_height:

  • Inflation rate: 0%
  • Staking rewards: Transaction fees only (10% of fees)
  • Purpose: Allow network stabilization and initial delegation

Phase 1: Initial Rewards (0.9% Inflation)​

From rewards_start_height until switch_8pct_height:

  • Inflation rate: 0.9% annually
  • Daily mint: ~19,200 LYTH (at 780M supply)
  • Purpose: Encourage staking with modest initial rewards

Phase 2: Full Inflation (8% Inflation)​

From switch_8pct_height onward (with Guard cleared):

  • Inflation rate: 8% annually
  • Daily mint: ~170,000 LYTH (at 780M supply)
  • Purpose: Sustainable long-term validator economics

!!! important "Guard Requirement" Phase 2 activation requires both reaching switch_8pct_height AND clearing the Guard threshold. See Guard for details.

Network-Specific Heights​

Sprintnet (Accelerated)​

MilestoneHeightApproximate Time
Genesis0Day 0
rewards_start_height129,600~3 days
switch_8pct_height216,000~5 days

Sprintnet uses accelerated milestones for rapid testing of economic transitions.

Testnet (Mainnet-Mirror)​

MilestoneHeightApproximate Time
Genesis0Day 0
rewards_start_height604,800~14 days
switch_8pct_height7,862,400~6 months

Testnet mirrors mainnet parameters for realistic rehearsal.

Mainnet​

MilestoneHeightApproximate Time
Genesis0Day 0
rewards_start_height604,800~14 days
switch_8pct_height7,862,400~6 months

!!! note "Block Time Assumption" All time estimates assume the target 2-second block time. Actual times may vary.

Why This Schedule?​

Delayed Rewards Start​

The 14-day delay before rewards begin allows:

  1. Validators to set up and stabilize
  2. Initial token distribution to complete
  3. Delegators to evaluate and choose validators
  4. Network security to establish baseline

Gradual Inflation Increase​

Starting at 0.9% then increasing to 8%:

  1. Prevents early inflation from overwhelming limited liquidity
  2. Gives time for ecosystem development
  3. Rewards early participants while protecting late joiners
  4. Allows Guard mechanism time to be satisfied

Querying Milestone Status​

Check Current Height​

curl -s localhost:26657/status | jq '.result.sync_info.latest_block_height'

Check Inflation Parameters​

# Current inflation rate
monod query mint inflation

# Mint parameters
monod query mint params

Check Guard Status​

monod query guard status

Milestone Events​

At each milestone, the following occurs:

At rewards_start_height​

  1. Inflation rate changes from 0% to 0.9%
  2. Block rewards begin minting
  3. Validators start receiving inflation rewards
  4. No action required from operators

At switch_8pct_height (if Guard cleared)​

  1. Inflation rate changes from 0.9% to 8%
  2. Block rewards significantly increase
  3. Higher incentive for staking
  4. No action required from operators

Monitoring Milestones​

Pre-Milestone​

Track upcoming milestones:

# Current height
HEIGHT=$(curl -s localhost:26657/status | jq -r '.result.sync_info.latest_block_height')

# Blocks until rewards start
echo "Blocks until rewards: $((604800 - HEIGHT))"

Post-Milestone Verification​

Verify the transition occurred:

# Check inflation changed
monod query mint inflation

# Verify in block explorer
# Look for inflation rate in network statistics

FAQ​

What if I start staking before rewards begin?

You'll earn only the 10% of transaction fees distributed to stakers. Once rewards_start_height is reached, you'll start earning inflation rewards.

Can milestones be changed?

Milestone heights are set at genesis and cannot be changed without a chain upgrade via governance.

What happens if Guard isn't cleared at switch_8pct_height?

Inflation remains at 0.9% until the Guard condition is met. See Guard.

Do all networks use the same milestones?

No. Sprintnet uses accelerated milestones for faster testing. Testnet and Mainnet use identical production parameters.