# Mavryk Network SRB

MVRKSRB is a benchmark representing the mean, annualized staking rate across all active Mavryk Network bakers.

MVRKSRB is calculated and published by Staking Rewards via the [Mavryk Network Profile](https://www.stakingrewards.com/asset/mavryk-network) and [Data API](https://www.stakingrewards.com/data-api).

> **TL;DR:** Mavryk Network staking rewards are based on maximum theoretical block rewards (block reward + bonus slots + endorsement rewards) multiplied by blocks per year, divided by total baking power across all active bakers.

$$
MVRKSRB = maxRewardsPerBlock \* blocksPerYear / totalBakingPower
$$

<table data-full-width="false"><thead><tr><th width="141">Formula key</th><th width="210">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>maxRewardsPerBlock</td><td>Max Rewards Per Block</td><td>The maximum rewards issuable per block, composed of the fixed block reward, block bonus slots, and endorsement reward slots (see breakdown below).</td></tr><tr><td>blocksPerYear</td><td>Blocks Per Year</td><td>The annualized number of blocks, calculated as 365 * 86400 / minimalBlockDelay. With a ~10s block time this yields approximately 3,153,600 blocks per year.</td></tr><tr><td>totalBakingPower</td><td>Total Baking Power</td><td>The aggregate baking power across all active bakers in the current cycle, representing the total stake-weighted consensus participation.</td></tr></tbody></table>

* MVRKSRB is non-compounded, excluding returns from reinvestment of rewards.
* MVRKSRB takes into account all accumulated rewards, whether they have been claimed or remain unclaimed.
* MVRKSRB is based on maximum theoretical block rewards assuming full consensus participation.

#### Max Rewards Per Block Breakdown

The maximum rewards per block are derived from three components defined by the Boreas protocol constants:

$$
maxRewardsPerBlock = blockReward + blockBonus + endorsementRewards
$$

<table data-full-width="false"><thead><tr><th width="141">Formula key</th><th width="210">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>blockReward</td><td>Block Reward</td><td>The fixed base reward for producing a block.</td></tr><tr><td>blockBonus</td><td>Block Bonus</td><td>bonusPerSlot * (endorsersPerBlock - consensusThreshold). Additional reward for attestation slots above the consensus threshold.</td></tr><tr><td>endorsementRewards</td><td>Endorsement Rewards</td><td>endorsersPerBlock * endorsementRewardPerSlot. Total endorsement rewards assuming all attestation slots are filled.</td></tr></tbody></table>

#### Slashing

1. Mavryk implements slashing for bakers who double-bake (sign two different blocks at the same level) or double-endorse (sign two different endorsements at the same level). However, MVRKSRB does not factor in the possibility of slashing occurrences, as these are exceptional events requiring malicious or faulty behavior.

***

### MVRK Baker Staking Reward Rate: MVRKSRB(v)

Staking Rewards calculates the MVRKSRB for each baker based on their individual performance and commission rate.

$$
MVRKSRB(v) = (rewardsPerYear\_v / bakingPower\_v) \* (1 - c)
$$

<table data-full-width="false"><thead><tr><th width="150.33333333333331">Formula key</th><th width="210">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>rewardsPerYear_v</td><td>Baker Rewards Per Year</td><td>The annualized total rewards for a specific baker, derived from the previous cycle's actual reward split data (block rewards, endorsement rewards, and block fees), extrapolated to a full year: (totalCycleRewards / blocksPerCycle) * blocksPerYear.</td></tr><tr><td>bakingPower_v</td><td>Baker Baking Power</td><td>The baker's baking power in the previous cycle, representing their stake-weighted consensus participation.</td></tr><tr><td>c</td><td>Commission (edgeOfBakingOverStaking)</td><td>The fee imposed by a baker on their stakers, expressed as edgeOfBakingOverStaking / 1,000,000,000. A value of 0 means the baker keeps no extra edge; 1,000,000,000 (the default) means 100% commission. Bakers who have not explicitly configured this parameter default to 100% commission on staking rewards.</td></tr></tbody></table>

The baker-level reward rate uses actual per-cycle reward split data from the MvKT indexer rather than theoretical maximums. This captures real-world performance differences including missed blocks, missed endorsements, and varying block fee income. The reward split includes four categories: delegated rewards, own staked rewards, edge (commission) rewards, and shared staked rewards.

***

#### Observation Period:

1. The MVRKSRB is determined based on the latest cycle's reward data and current protocol constants at the point of evaluation.
2. This data is then annualized for a comprehensive year-long projection.

#### Calculation

The calculation happens every 6 hours and is immediately published via [Data API](https://www.stakingrewards.com/data-api).

#### Limitations

1. MVRKSRB employs a 365-day convention for annualizing current block times. This convention remains consistent and does not accommodate adjustments for leap years.
2. The asset-level MVRKSRB uses maximum theoretical rewards per block, assuming full consensus participation. Actual network-wide returns may be slightly lower due to missed blocks and endorsements.
3. MVRKSRB does not account for liquidity baking subsidies in the staking reward rate, though they are factored into the inflation rate calculation.
4. Baker-level rates are based on the previous cycle's actual performance and may not reflect future performance.

***

### MVRK Real Reward Rate: MVRKSRB^R

The real reward rate calculates the MVRKSRB adjusted for inflation in the network.

$$
MVRKSRB^R = 1 + MVRKSRB / (1 + ir) - 1
$$

<table data-full-width="false"><thead><tr><th width="141">Formula key</th><th width="158">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>ir</td><td>Inflation Rate</td><td>The annual rate of new MVRK token creation, calculated as totalCreatedPerYear / totalSupply. This includes both baking rewards (block rewards + endorsement rewards) and liquidity baking subsidies.</td></tr></tbody></table>

**Inflation Rate Behavior**

* Mavryk's inflation rate is determined by the protocol's block reward parameters and the liquidity baking subsidy. Total annual token creation is calculated as (maxRewardsPerBlock + lbSubsidyPerBlock) \* blocksPerYear, where the liquidity baking subsidy is computed as lbSubsidy \* minimalBlockDelay / 60 per block. The inflation rate is this total annual issuance divided by the current total supply (in mutez). Since Mavryk is a young network (mainnet launched August 14, 2025), the inflation rate may be higher initially relative to total supply and is expected to stabilize as the network matures and supply grows.

***

### MVRK Staking Model: Liquid Proof of Stake

Mavryk uses a Liquid Proof of Stake (LPoS) consensus mechanism, forked from the Tezos blockchain running the Boreas protocol. In this model:

* **Bakers** are the equivalent of validators. They produce blocks and endorse other bakers' blocks. Bakers must hold a minimum stake of 6,000 MVRK.
* **Delegators** can delegate their MVRK to a baker without transferring custody. Delegated tokens increase the baker's consensus weight but are not subject to slashing.
* **Stakers** can stake their MVRK directly to a baker, which increases the baker's baking power more efficiently. Staked tokens are subject to slashing if the baker misbehaves.
* **Baking Power** is calculated from the baker's own stake plus external staked tokens, with delegated tokens contributing at a reduced weight.

#### Capacity Limits

Bakers have two capacity limits derived from their own staked balance:

* **Staking Capacity**: ownStakedTokens \* limitOfStakingOverBaking (protocol default: 5x, configurable per baker via limitOfStakingOverBaking parameter in units of 1,000,000)
* **Delegation Capacity**: ownStakedTokens \* maxDelegatedOverFrozenRatio (protocol constant: 9x)

When a baker's external staked and delegated tokens exceed these limits, additional delegations do not increase the baker's baking power (overdelegation/overstaking).

***

### Annualization

Mavryk organizes consensus into cycles. The number of cycles per year is:

$$
cyclesPerYear = (365 \* 86400) / (blocksPerCycle \* minimalBlockDelay)
$$

<table data-full-width="false"><thead><tr><th width="150.33333333333331">Formula key</th><th width="210">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>blocksPerCycle</td><td>Blocks Per Cycle</td><td>The number of blocks in one cycle, currently 24,576 on Mavryk.</td></tr><tr><td>minimalBlockDelay</td><td>Minimal Block Delay</td><td>The minimum time between blocks in seconds, currently ~10 seconds on Mavryk.</td></tr></tbody></table>

With the current protocol constants (24,576 blocks per cycle, \~10s block time), one cycle lasts approximately 2.84 days, yielding approximately 128.4 cycles per year.

***

### Other Mavryk metrics calculated by Staking Rewards:

<table data-full-width="false"><thead><tr><th width="212.99999999999994">Metric</th><th>Description</th></tr></thead><tbody><tr><td>Delegated Tokens</td><td>The total number of MVRK tokens delegated and externally staked to bakers.</td></tr><tr><td>Self Staked Tokens</td><td>The number of MVRK tokens staked by bakers directly (own staked + own delegated balance).</td></tr><tr><td>Staking Wallets</td><td>Total number of unique delegations on-chain across all active bakers.</td></tr><tr><td>Active Validators</td><td>The number of currently active bakers producing blocks and endorsements.</td></tr><tr><td>Block Time</td><td>The minimal block delay in seconds as defined by the Boreas protocol constants.</td></tr><tr><td>Total Supply</td><td>Total MVRK supply from the MvKT indexer statistics (in mutez, converted to MVRK with 6 decimal places).</td></tr><tr><td>Circulating Supply</td><td>Circulating MVRK supply from the MvKT indexer statistics.</td></tr></tbody></table>

#### Data Sources:

* MvKT Indexer API (TzKT fork) at api.mavryk.network for baker data, cycle rewards, protocol constants, and supply statistics
* Mavryk RPC at rpc.mavryk.network for chain head and block data
* CoinGecko for price data

***

#### References:

* [Mavryk Network](https://mavryk.org/)
* [Staking Rewards Mavryk Profile](https://www.stakingrewards.com/asset/mavryk-network)

***

:books: [Learn more about MVRK Staking](https://www.stakingrewards.com/asset/mavryk-network)

:bar\_chart: [Calculate your MVRK Staking Rewards](https://www.stakingrewards.com/calculator?asset=mavryk-network)

:gear: [Access historic Mavryk Network Staking Data via API](https://www.stakingrewards.com/data-api)

```
Last updated on 03/13/2026
```


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