🗣️Metis SRB

Metis Staking Rewards Benchmark (METISSRB™) Methodology

METISSRB is a benchmark representing the mean, annualized staking rate across all active Metis validators.

METISSRB is calculated and published by Staking Rewards via the Metis Profile and Staking Data API.

METIS Staking Rewards Rate: METISSRB

$$METISSRB = trd / ast*t_w$$

Formula key	Metric name	Description
trd	Total Rewards Difference	The amount of rewards accrued over the 7-day period.
ast	Average Staked Tokens	The 7-day average of sequencer's staked tokens.
$t_w$	Week Constant	52w

Slashing

• METISSRB does not factor in the possibility of slashing occurrences.

• It's important to note that if validator entities face slashing, rewards will increase, as the slashed tokens are reallocated among validators.

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METIS Validator Staking Reward Rate: METISSRB(v)

Token holders cannot delegate assets directly to sequencers, therefore sequencers don't distribute rewards by design. Unless the sequencer is a liquid staking provider.

$$METISSRB(v) = METISSRB$$

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Observation Period:

• The METISSRB is determined based on the latest generated block at the point of evaluation.

• This data is then annualized for a comprehensive year-long projection.

Calculation

The calculation happens every 1o minutes and is immediately published via Staking Data API.

Limitations

• METISSRB excludes rewards accrued from on-chain fees.

• METISSRB employs a 365-day convention for annualizing current slot times. This convention remains consistent and does not accommodate adjustments for leap years.

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METIS Real Reward Rate: METISSRB^R

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

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

Formula key	Metric name	Description
ir	Inflation Rate	The annual provisions divided by the circulating supply.

Inflation Rate Behavior

• Metis inflation is influenced by Sequencer Mining, which allocates 3M METIS from the Ecosystem Development Fund to staking rewards. The Mining Rewards Rate is set at 20% for the first 12 months to incentivize participation in network security.

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Other Metis metrics calculated by Staking Rewards:

Metric	Description
Self Staked Tokens	The number of STRK tokens self-staked by validators directly.
Network Control	The Network Control shows what percentage of all staked tokens are delegated to a particular sequencer.

Data Sources:

• Staking Rewards from indexed Metis Blockchain RPC Endpoints

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References:

• https://docs.metis.io/dev

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Last updated on 12/03/2024