# Mina SRB

MINASRB is a benchmark representing the mean, annualized staking rate across all active Mina validators.

MINASRB is calculated and published by Staking Rewards via the [Mina Profile](https://www.stakingrewards.com/asset/mina) and [Data API](https://www.stakingrewards.com/data-api).

> **TL;DR:** Mina staking rewards are determined by the inflation rate (from a hardcoded schedule based on days since genesis) multiplied by circulating supply and divided by total staked tokens. Validator-level rates factor in performance and commission.

$$
MINASRB = ir \* cs / st
$$

<table data-full-width="false"><thead><tr><th width="141">Formula key</th><th width="176">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>ir</td><td>Inflation Rate</td><td>The current annual inflation rate, determined by a hardcoded schedule based on days since genesis (see Inflation Rate Behaviour below).</td></tr><tr><td>cs</td><td>Circulating Supply</td><td>The total number of MINA tokens currently in circulation.</td></tr><tr><td>st</td><td>Staked Tokens</td><td>The total number of MINA tokens staked across all active validators.</td></tr></tbody></table>

* MINASRB takes into account all accumulated rewards, whether they have been claimed or remain unclaimed.
* MINASRB operates on a non-compounded basis, meaning it excludes returns generated from the reinvestment of rewards.
* MINASRB is based on an assumption of 100% validator performance. For a MINASRB adjusted according to individual validator metrics, please refer to MINASRB(v).

#### Slashing

{% hint style="info" %}
Mina Protocol does not implement slashing. Validators and delegators do not risk losing staked funds due to validator misbehavior or downtime.
{% endhint %}

***

### Mina Validator Staking Rewards Rate: MINASRB(v) <a href="#mina-validator-staking-rewards-rate-minasrb-v" id="mina-validator-staking-rewards-rate-minasrb-v"></a>

Staking Rewards calculates the MINASRB for each validator based on their individual commission rate and block production performance.

$$
MINASRB(v) = MINASRB \* (1 - cr) \* p
$$

<table data-full-width="false"><thead><tr><th width="129">Formula key</th><th width="176">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>cr</td><td>Commission Rate</td><td>The percentage commission rate the validator has set as a delegation fee for all delegators.</td></tr><tr><td>p</td><td>Performance</td><td>A binary indicator (0 or 1) representing whether the validator has successfully produced blocks.</td></tr></tbody></table>

***

**Observation Period:**

1. MINASRB is determined based on the latest generated block at the point of evaluation.
2. This data is then annualized for a comprehensive year-long projection.

**Calculation**

The calculation happens every 2 hours and is immediately published via [Data API](https://www.stakingrewards.com/data-api).

**Limitations**

* MINASRB employs a 365-day convention for annualizing staking rewards. This convention remains consistent and does not accommodate adjustments for leap years.
* MINASRB does not account for transaction fee rewards, as Mina's staking rewards are entirely inflation-based.
* Individual validator returns may differ based on commission rates and block production activity.

***

### MINA Real Reward Rate (MINASRB^R) <a href="#mina-real-reward-rate-minasrb-r" id="mina-real-reward-rate-minasrb-r"></a>

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

$$
MINASRB^R = (1+MINASRB) /(1+i)-1
$$

<table data-full-width="false"><thead><tr><th width="150.33333333333331">Formula key</th><th width="265">Metric name</th><th>Description</th></tr></thead><tbody><tr><td>i</td><td>Inflation Rate</td><td>The annual inflation rate of the MINA token supply, determined by a hardcoded schedule based on days since genesis.</td></tr></tbody></table>

**Inflation Rate Behaviour**

Mina uses a hardcoded, time-based inflation schedule that decreases in steps based on the number of days elapsed since the genesis block (March 16, 2021):

| Period (days since genesis) | Inflation Rate |
| --------------------------- | -------------- |
| 0 - 365                     | 12%            |
| 365 - 547.5                 | 9%             |
| 547.5 - 730                 | 8%             |
| 730+                        | 7%             |

The network is currently in the final phase with a fixed 7% annual inflation rate.

***

### Other Mina metrics calculated by Staking Rewards:

<table><thead><tr><th width="190">Metric</th><th>Description</th></tr></thead><tbody><tr><td>Delegated Tokens</td><td>The number of MINA tokens delegated to validators by external delegators.</td></tr><tr><td>Self Staked Tokens</td><td>The number of MINA tokens staked by validators directly from their own balance.</td></tr><tr><td>Staking Wallets</td><td>The total number of unique delegations on-chain. It doesn't distinguish based on unique delegator addresses.</td></tr></tbody></table>

***

#### Data Sources:

* MinaScan Node GraphQL (on-chain total supply, block height, current epoch, staking-ledger hash)
* Mina Foundation Staking Ledger Snapshots (per-validator stake, self-staked tokens, delegator counts — published per epoch by Mina Foundation)
* CoinGecko (price, circulating supply)

***

#### References:

* <https://docs.minaprotocol.com/>
* <https://minaprotocol.com/>

***

:books: [Learn more about MINA Staking](https://www.stakingrewards.com/asset/mina)

:bar\_chart: [Calculate your MINA Staking Rewards](https://www.stakingrewards.com/calculator?asset=mina)

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

```
Last updated on 05/06/2026
```


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