The KCAL supply is the result of a balance between KCAL’s inflationary and deflationary measures.
Where does KCAL come from?
The only way you can generate KCAL is to stake our governance token SOUL. Staking SOUL earns you 0.002 KCAL per SOUL staked per day. Besides what is generated through staking, there is absolutely no KCAL that can be minted or otherwise enter the supply.
Deflationary measures – limiting KCAL supply
- Transaction fees
- For every transaction there is a division of the KCAL fee into two or three shares depending on the transaction. By default, the block producer gets half the KCAL fee as part of their incentive to provide quality service and stability to the ecosystem. The other half is either split in half with one portion burned and the other paid to the dApp provider you interact with, or all burned. This ensures that every single action performed on Phantasma contributes to limiting the supply of KCAL.
- Developer fees
- Smart Contract deployment on Phantasma is pegged through Phantasma Oracles to a $10 equivalent amount of KCAL, of which all is burned. Deploying a new token incurs a cost of an additional $90 worth of KCAL for a total of $100 – of which 100% is also burned. This provides an anti spam measure for our ecosystem while increasing KCAL burn.
- NFT minting
- Minting an NFT through GhostMarket costs KCAL. The current price (adjustable in the case of significant changes in token value) is 20 KCAL, of which half is burned directly and the other half provides revenue for GhostMarket. Considering the growing popularity of GhostMarket, significant amounts of KCAL are expected to be eliminated from the circulating supply this way.
- The KCAL generation rate of 0.002 KCAL per SOUL staked per day is subject to change through governance voting. If the community of token holders deem a change to be necessary to optimize token economics, a proposal can be submitted to either increase or decrease the KCAL generation rate.
- Block producer selection
- During the selection procedure for community block producers, one of several metrics that will make a candidate attractive is a commitment to burning an amount of KCAL, contributing directly to KCAL deflation as a way to get ahead in the race