EVT, PEVT and Econimic Model

Fuel (EVT)

In order to avoid such attacks on the system as DDoS, to provide stake for the DPOS vote, and to give a reasonable reward to the producers, we will issue EVT as our fuel. Any operation will charge a certain EVT as a transaction fee, which will be a reward for the producer. The number of EVT charged will float automatically, and the fees collected are primarily to prevent malicious attacks and will not affect most users’ regular use.

We say that R represents the Adjusting Rate of transaction fees. BP nodes can independently decide at any time to make a rate hike when the chain is busy or under attack. They can also make a rate cut if the price of EVT is too high. Actual R is calculated as the median number of all BPs.

EVT is only used to reward the resources provided by producers and to prevent malicious behavior and has no other value.

All of the services that will cause an action to be included in a block will cost transaction fee.

Pinned EVT

A Pinned EVT is similar to EVT but cannot be transferred. It can only be used as a fuel fee. Converting from EVT to Pinned EVT is allowed. EVT’s exchange rate against the Pinned EVT is always 1. Since pinned EVT is not currency, it is safe enough to airdrop pinned EVT to someone.

Generally, one should not convert EVT to Pinned EVT, as they are able to use EVT to pay for fuel fees. If one decides to convert EVT to Pinned EVT, the Pinned EVT will automatically bind to the receiver, hence its name Pinned EVT.

Pinned EVT belongs to an account and cannot be transferred to others. It is convenient and safe to airdrop Pinned EVT to users. Companies and organizations are able to convert EVT to Pinned EVT and post them to specific accounts. Pinned EVTs cannot be transferred across addresses.

Payer

A Payer is an account who pays for a transaction. everiToken allows users specify payers in a transaction. This is useful for creating accounts. For safety, payers should have extra signatures in the transaction.

If the Payer is set, pinned EVT is not allowed for the fee.

Domain's Pinned EVT Balance

Each domain has a special pinned EVT balance.

The chain prefers consuming the domain’s pinned EVT balance (if not zero) during actions like transferring and destroying tokens within the domain. Users are able to prepay for a domain’s pinned EVT balance via their EVT.

Distribution of EVT / Extra EVT issuance / other information

Please refer to our whitepaper.