Proof of inscription

Motivation

Since the launch of Ordinals, the number of inscriptions has surpassed 60 million and continues to grow. We need an innovative incentive mechanism to provide additional rewards to all "inscription minters", especially early participants! We call it "Proof-of-Inscription".

POI is a fungible token asset generated within the Proof-of-Inscription framework, contributing to establishing a fair tokenization model for Ordinals. It represents one of the most comprehensive indices within the Ordinals ecosystem. Leveraging the scalability of the ORC-20 protocol, $POI is poised to demonstrate even more compelling utility.

$POI Token

Token name

$POI

Total supply:

8,820,000,000

Decimal:

8

Allocation:

100% allocated to all inscription minters

Emission:

The initial allocation for each inscription is 210 $POI, halving every 21 million inscriptions.

Calculating the POI rewards for different inscription numbers:

$POI Reward = 210 * (0.5 ** (n // 21000000)) , n = inscription number

NameRange$POI / Inscription

Genesis

#0 - #20999999

210

1st halving

#21000000 - #41999999

105

2nd halving

#42M - #62999999

52.5

3rd halving

#63M - #83999999

26.25

...

...

...

End

#735000000 -

0

Index Rules

  1. Starting from inscription number 0, each inscription is rewarded with 210 tokens. After every 21 million inscriptions, the reward halves.

  2. All users can claim their $POI by inscribing a claim-inscription. If users fail to claim their rewards following the next halving cycle, the rewards will become unclaimable and permanently destroyed. The first activation of this feature will occur at inscription number #84000000.

  3. The range begins with the inscription number 0, and each inscription will receive a corresponding reward (inscriptions with numbers less than 0 will not receive the $POI). The recipients of the reward are the minters of the inscriptions. If no corresponding output address is provided in the Bitcoin transaction, the rewards will be transferred to the common Bitcoin community black hole address 1111111111111111111114oLvT2.

  4. The transfer rules for POI follow the ORC-20 protocol.

Timeline

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