Joystream Handbook
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$JOY

Our mainnet asset.

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, however both are dynamic and constrained.

Genesis Block

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
The investors acquired $JOY allocations, subject to vesting, across rounds in 2018 and 2021 at implied valuations of $40M and $60M, or equivalently token prices of $0.04 and $0.06 respectively.