Epoch and Reward Schedule
How the Flow protocol manages the schedule of an epoch and rewards payments
This information covers the current state of how epoch phases are ran and how rewards are calculated and distributed to node operators and delegators. All of the information in the document is still being designed and is subject to change based on research and discussion by the Flow core team and community. If any changes are proposed, the Flow community will be notified in advance.
An Epoch is a period of time when the node operators in the network are constant. At epoch boundaries, newly staked node operators are able to join the network and existing node operators which have unstaked may exit the network.
Each epoch lasts approximately a week, and the Epoch Switchover is defined as the point in time when one epoch ends and the next epoch begins, marking a possible change in the list of valid nodes.
The exact timing of the epoch end is influenced by the number of blocks proposed during the epoch. All quoted epoch end times are estimates and subject to some variance. See Epoch Preparation Protocol for details.
Epoch Switchovers will happen at approximately 8:00 am PT on Tuesday (3:00 pm UTC) every week. Please note that all staking operations that interact with staked tokens will be processed by the protocol at the start of each epoch.
Rewards are also paid at 8:00 am PT on Tuesday (3:00 pm UTC), every week, to all users that have tokens staked. This is the same time as the Epoch Switchover. See the Rewards Distribution section below for more information about rewards calculation and schedule.
The first, and longest phase of an epoch is the staking auction. This phase is when nodes and delegators can register to stake and perform other staking operations such as staking more tokens or unstaking their existing tokens. None of these operations are fully executed until the Epoch Switchover though.
The Staking Auction lasts for at least the first 90% of the length of an Epoch
The Epoch Setup and Epoch Commit phases are the final phases of the epoch, when node operators who have been included in the next epoch perform important setup functionailty to prepare for the next epoch.
The Epoch Setup and Epoch Committed phases last less than 10% of the time of an epoch.
Staking Operations will be rejected during the Epoch Setup and Epoch Commit phases. This is because the staking information has been finalized in preparation for the next epoch and cannot be changed because these final phases rely on the staking information being constant.
The rewards distribution schedule has been designed to ensure there is enough liquid supply of FLOW available in the ecosystem to empower a wide variety of use cases and promote fair and diverse participation in the Flow ecosystem.
The numbers in this table represent the total amount of tokens that are paid as staking rewards at each epoch to the entire pool of participants in the Flow network as a whole. While total staking reward per epoch is known and fixed, individual rewards are variable depending on many factors.
The total rewards for each epoch are fixed for that epoch, but where those rewards come from can change. When the protocol pays rewards, it first pulls from the central pool of all the transaction fees that have been paid by every user in the network since the last rewards payment. Once that pool has been depleted, the protocol mints new tokens that are used as rewards.
Please see the next section on how to calculate an individual staking reward.
|Dec 22||Dec 29, Jan 5, 12, 19, 26||Feb 2 weekly on Tuesdays until Dec 21, 2021||Weeks 53+|
|Total Rewards % (Annual)||5%||20%||5%||TBD|
|Total Rewards Amount Per Week||~1.2M FLOW||~4.4M FLOW||~1.2M FLOW||TBD|
Each user gets a percentage of the total rewards during each epoch that is proportional to their percentage of all the tokens that are staked by all participants.
The full reward calculation on a per-user basis is equal to:
New Reward(user) = Tr * (Sn / St)
Tr= Total staking rewards to be paid out during the current epoch. (See table above)
Sn= Amount of FLOW Staked by the target user for the current Epoch. (Different for each staker)
St= Sum of all the FLOW staked by all the participants in the network. (Changes every epoch)
Rewards for delegators are also calculated in the exact same way that rewards for node operators are calculated, with one difference in that 8% of the staking reward amount is given to the node operator being delegated to (effected as a protocol layer fee, which is the same for all node operators). The remaining 92% is awarded to the delegator. Note: the 8% fee is only applied to the staking reward, not to the tokens delegated.
With this calculation, the node you choose to run or delegate to DOES NOT affect the amount of rewards you receive every week. The only variable that you can control is the number of tokens you have staked. The more tokens you stake, the more rewards you will receive.
Because of the variable nature of the rewards calculation, we cannot provide an expected weekly/yearly return for a single staker. You can plug your own numbers into the formula to see some sample calculations, but you won't be able to know exactly what you will earn until the beginning of the epoch in which you are participating in staking or delegation.
|Epoch Start||Epoch End||Reward Payout Transaction ID|
|December 16, 2020||December 22, 2020||1ab22491777fb3c75333135c82b90a9f56ede8e0d18d43ecf6c5589d06353f95|
|December 23, 2020||December 29, 2020||d7a8daca55dcadddd21dc9b63e71c515032584e9cf126b74744f676a1196e3c8|
|December 30, 2020||January 5, 2021||9e377e6818d19b7a26d65b076120b2681d512111d397c617cac0843060437fc9|
|January 6, 2021||January 12, 2021||29886f7cdbbb47b96dfa05ad277fcb3c8876c4ee32954269a926061aa4157af7|
|January 13, 2021||January 19, 2021||83d585f3fa1368258cf317690e4bf82d4f841bfe2ccbc6c191838b73371b6e66|
|January 20, 2021||January 26, 2021||487759099a09fc088943aac45909cca37d6b5bed418feab502ff37bd1b93346f|
|January 27, 2021||February 2, 2021||c2f29629040ae6fca12e103f676bf112200f24f0fc8b4cb99c92f9287ce6195f|
|February 3, 2021||February 9, 2021||e29a22e29297fcd8f67a030ae641405e14a889167a639f54b05f48fe1142bd5b|
|February 10, 2021||February 16, 2021||d775735a1d9a8574faaa2b82b9dea0833d5bf48e43845c9c6bf5a42eb96414f2|
|February 17, 2021||February 23, 2021||eed4f38fe4fec2bf9b60eba7708ff7d41fa654942ccc20cb1fc86872813f5b93|
|February 24, 2021||March 2, 2021||3650b50994719480b8358a507afa30d58c232a30a6cfd947a94b62a78d25c849|
|March 3, 2021||March 9, 2021||e4db187672cf545c865850840ff66d34c43cb298d8aae687c209c7f2fef44ea1|
|March 10, 2021||March 16, 2021||2791557e2bdf4be66f69eeb919c5c3da94f2af4baf9c1e6953aedd887715bd7e|
|March 17, 2021||March 23, 2021||15ac2d8ee73eae3483da10370dcc6f432d928d4631be22f8c7f0f85a8a62e1fd|
|March 24, 2021||March 30, 2021||a60e812b005100290a4657f7022f1e2d3dc4745e25a0373b82d807c77471e069|
|March 31, 2021||April 6, 2021||7674a088faa2b30ace3c798c2273face4e2b41970ca1990ad9d96a1bb7e2c2b2|
|April 7, 2021||April 13, 2021||4addbcc17f8a5e9ecf1eb0d78a5c59332cde9d11ce347da676009284247565dd|
|April 14, 2021||April 20, 2021||86917dcf3055d1aa21d898ccd4b8d1f55fd0924c7f5b7ce708dd92e69094e83d|
|April 21, 2021||April 27, 2021||5c46cc3ff35a522d9439f26023e11a0f8697bf04b418e9e019a95ab3f49231ce|
|April 28, 2021||May 4, 2021||7c79febe209178851e4c6b0c1d9bf89955f89783ea8f9ace65e4c442ddd16e7d|
|May 4, 2021||May 11, 2021||df60fda0991410b871b80437840e461ecd5b35decc6da201a1e5d62ae23b0cec|
|May 11, 2021||May 18, 2021||a0ea12fe8166b3d3b10cb221cbc3dd236dba5990274e9a90c32e6a904f72d96f|
|May 18, 2021||May 25, 2021||5a3093f7e577ba8e6dc3c6241c7b3a0c09d3068a91a684a477277d4f792e19da|
|May 25, 2021||June 1, 2021||9b0e38d3b1fba1194e6d4bb441e095013ab9c2a634f9d18d7250a7e4f62a620d|
|June 1, 2021||June 8, 2021||8d06b6d75fd315cdbe0caf035fb42b8503aef5f12b875fb18c38b9329cf10b83|
|June 8, 2021||June 15, 2021||9b86013070876210c5ff04c5518d7698d21be2c3d4525cf985a82b311e7bb217|
|June 15, 2021||June 22, 2021||207f908a7e949c1094dee63f71bf9f8487e07d8a2d904265b358ee03dc59441a|
|June 22, 2021||June 29, 2021||f9cc19931aa131511951ff339dd3c454cdc7d956611cf0271e68c0ed50f6fca2|
|June 29, 2021||July 6, 2021||406c3fe36fb4eb05cb3ba830cb0a8b66b6fc6d6f3d56e237eef201fe3b7b9821|
|July 6, 2021||July 13, 2021||ade3ad62894c99798876b0c8fb9db84e978a14e23095944abcf76d614e5c018b|
|July 13, 2021||July 20, 2021||51dab505c0bd843af3c3e43d5502cdc21c2f6dbb5765383b0a285f0578f859d4|
|July 20, 2021||July 27, 2021||8730f4ff3552ca1e47777e51eda0169f49880bf49da19106839a8e20ae6bbec6|
|July 27, 2021||August 3, 2021||d8a85bdd767f56a63bcb627bd74b1fe47f6e0d50b9c19b32c47895ca8373d208|