Bonds & payout order
pox-5 pays bonds first, in descending stx-value-ratio; ties go to the lower bond index (pox-5 L2285–2299). Each bond gets min(target, what is left), so the last bonds in the order absorb a shortfall first. Within a bond, every staked sat earns the same.
Payout order, cycle 143
mirroredThe live order comes from pox5-reader::get-bond-payout-order once it is deployed on mainnet. The latest distribution (286) paid bond #1 (Genesis Bond) 13,810,222 sats against a target of 13,810,222 sats.
bond-distribution events, calculate-rewards tx 0x4a0218d7b13de29ae47015e72345876d362c47159216675d40d03cd09ad1cc5d
What a shortfall looks like
hypotheticalWith one bond active, a shortfall simply short-pays it. With several, pox-5 fills them in order until the pool runs out. The stress test shows both: the current book, and a hypothetical multi-bond book with the SIP's 3,000 BTC launch size.
The reserve does not step in: pox-5 cannot pay bonds from it without a SIP.
Open the stress test