# $JOY

## Introduction

This is the native asset of the Joystream mainnet blockchain.

## Ticker

$JOY

## Supply

The initial total supply is 1,000,000,000 $JOY, however there is no supply cap.

## Hapi Units

The base unit is called *Hapi*, equivalent to Satoshis in Bitcoin. There are ten billion (10,000,000,000) Hapi in each $JOY, and hence at genesis there will be 1,000,000,000x10,000,000,000=10^19 Hapi.

## Denominations 

| Unit |     $JOY     | Hapi           |
| ---- | :----------: | -------------- |
| Hapi | 0.0000000001 | 1              |
| $JOY |       1      | 10,000,000,000 |

## Decimals

$JOY has 10 decimals for display and input purposes in UIs.

## Inflation

There are two sources of inflation, staking rewards for validators and nominators, and the council minting new tokens out of it's [#budget](https://handbook.joystream.org/system/council#budget "mention"), however both are dynamic and constrained.

## Genesis Block

The Joystream blockchain launched December 9th 2022, so all vesting durations start from this time.

| Purpose                    |  Genesis %  | Genesis Liquidity | Vesting Duration |
| -------------------------- | :---------: | :---------------: | :--------------: |
| Community Founding Members | 21.2189609% |         8%        |     24 months    |
| Jsgenesis Founding Members |   31.435%   |         8%        |     24 months    |
| Investors                  | 32.3285352% |        79%        |     12 months    |
| Membership Airdrop         |   0.21735%  |         8%        |     24 months    |
| Strategic Partners         |  3.0013001% |        100%       |     0 months     |
| Reserved 1                 | 11.7988418% |         0         |     12 months    |
| Reserved 2                 |  0.000012%  |         8         |     24 months    |

## Release Schedule

Many of the tokens in the genesis block were subject to limits on transferability, and the schedule below shows how the share of tokens in the genesis block that can be transferred increases over time. This schedule can easily be derived from the prior section on the genesis block, but it is explicitly included here for convenience.

<figure><img src="https://2572524730-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F8ujeNdjza15ubRKR1XBX%2Fuploads%2F492Bo7WJpDLx4tagdFh9%2FRelease%20Schedule.png?alt=media&#x26;token=5e7c1d13-0391-4454-870c-925259c1bc0b" alt=""><figcaption></figcaption></figure>

Here is an embed of the source calculation.

{% embed url="<https://docs.google.com/spreadsheets/d/1i3ZZydgSuyGVVYmYGWikjzNd5_VtSIhOYgkVQxBhdJ4/edit#gid=1643597195>" fullWidth="false" %}


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