Explore the tokenomics of Polymesh(POLYX) and review the project details below.

What is the allocation & supply schedule for Polymesh(POLYX) ?

• Supply and Inflation: POLYX uses a variable inflation model. When the total supply is under 1 billion tokens, the inflation rate can go up to 14% annually. This incentivizes staking, with rewards adjusting based on the percentage of tokens staked. Once the supply exceeds 1 billion, the annual minting is capped at 140 million tokens.
• Fees: The network charges various fees in POLYX:Transaction Fees: Calculated based on size and complexity, and distributed to node operators.Protocol Fees: Applied for specific functions, like reserving a token ticker, managed by the Polymesh Governing Council.Developer Fees: Developers can set fees for the use of their smart contracts and extensions.
• Staking and Rewards: Node operators and stakers work collaboratively, securing the network by staking POLYX. Rewards and penalties are determined based on node performance, ensuring stability and reliability. Staked POLYX also allows participants to engage in governance activities, influencing decisions and protocol updates.
• Allocation Mechanism:Upgrading POLY to POLYX: Tokens can be transitioned via an upgrade mechanism.Network Treasury: Newly minted POLYX is managed by the treasury, with grants provided for external projects.Node Operators: Earn block rewards, incentivizing network security.