Network Economics
The developers of Solis Network have explored and formulated a tokenomics model that marries the explosive growth of Decentralized Finance (DeFi) DApps, Gaming, NFTs related projects and Marketplace. It is to allow monetized incentive for the community to take part in the Solis Network Governance for greatest achievement in the blockchain community, which in return will make the candidates earn $SOLS as rewards for the successful staked as Signers and Elected Delegators.
$SOLS is the Solis Network native coin that will be issued per block production. However, to make the overall Solis Network more appealing to the blockchain mainstream community, the developers had decided to mint 52,000,000 $SOLS in their Genesis Block. The distribution and schedule of issuance will be further explained in the following section at Genesis Block.
In the tokenomics model, the $SOLS will be required to pay network fee in Solis Network. To balance the increase of circulating for the long-term, there will be a burning mechanism in place to deflate its growth rate. There are few sources of $SOLS for the burning mechanism as below:
$SOLS paid as network fee;
Candidates and Delegators’ entry fee'
Partners’ project commitment - Mechcraft, a blockchain play-to-earn game which has committed their certain number of sales to burn $SOLS
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