# 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
```

| Name        | Range                 | $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                  |

<div align="left" data-full-width="false"><figure><img src="https://2494788280-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F17jRXxLDjawvPpo0QLa6%2Fuploads%2FV4ji3VbTagmz7yjszLls%2Fb9807ae1b34ae14c5cc49a554dace74.jpg?alt=media&#x26;token=2bdbfc09-944d-4279-994c-7f5d3a81344d" alt=""><figcaption></figcaption></figure></div>

### <br>

## Index Rules&#x20;

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

* [x] Develop and launch the POI indexer
* [x] Claim, transfer & Marketplace
* [ ] Merged with ORC-20 protocol
* [ ] Rune proof


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