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Universal Basic Income

Concept​

The Universal Basic Income (UBI) module in the KIRA network is designed to incentivize non-sybil network participants, such as validators and governance members, through the distribution of a fixed amount of the native KEX token on a regular basis. This helps to ensure the long-term maintenance of network operations and enables these actors to perform their roles effectively. The UBI module uses Spending Pools to distribute the funds to eligible beneficiaries, who can then claim their allotted tokens. The supply of KEX tokens is inflated by a fixed amount at regular intervals, and these tokens are deposited into the designated spending pool(s) for distribution.

To prevent potential abuse or faults, a ubi-hard-cap is set in the network properties, limiting the maximum amount of additional KEX that can be created per year (6000000 KEX by default). Governance members are not allowed to create or modify UBI records in a way that would exceed this hard cap.

Dynamic Mode​

Similar to the spending pool, the UBI module provides two modes: dynamic and static, which use the dynamic field. In dynamic mode, the total amount distributed per period decreases by the amount left in the pool. In other words, if some users don't claim their UBI during a particular period, the unclaimed tokens are lost and redistributed in the next period. This is done to limit token inflation and ensure that users are actively claiming their tokens. If the dynamic parameter is set to false, the spending pool operates in static mode and distributes a fixed amount of tokens every time period. This way, users can be sure of the amount of tokens they will receive during each period, provided they still respect the target spending pool’s claim-expiry.

Parameters​

NAMETYPEEXAMPLEDESCRIPTION
namestringKEX-UBIThe name of the UBI contract.
distribution_startuint641643577600Unix timestamp of the start of the distribution period.
distribution_enduint641675113600Unix timestamp of the end of the distribution period.
distribution_lastuint641651401600Unix timestamp of the last distribution.
poolstring"community"The spending pool name where the exact amount of KEX should be deposited.
amountuint641000The amount of KEX tokens to be minted and distributed every period into pool.
perioduint6486400Time in seconds that must elapse since distribution_last for the funds to be distributed automatically into the pool.
dynamicbooltrueA boolean field that defines if UBI is dynamic true or static false.

Cli Syntax & Examples​

note

Each CLI command and proposal process in KIRA requires specific permissions. These permissions must be added to the account's whitelist or obtained as sudo permissions for direct changes. Refer to the Roles & Permissions documentation for more details. $SIGNER represents the transaction signer's account name or address. For instructions on setting common flags as environment variables, such as $FLAGS_TX and $FLAGS_QR__, see the section

Transactions​

There is no transactions other than the governance proposals for this sub-module.