Coverage
The reward pool divided by what bonds are owed.
Now: 16.68× mirrored (distribution 286)
Definition
coverage = gross pool ÷ obligation, for one distribution interval or, on-chain, over the distributions computed so far in a cycle.
- Unit: × (a ratio).
- Below 1.0× bonds are short-paid, and STX-only stakers and the reserve get nothing.
- n/a when there are no bonds (nothing is owed). Cycles 141 and 142 had no bonds.
Sources
| Figure | Label | Source |
|---|---|---|
| Coverage for a cycle | onchain | get-coverage-for-cycle → coverage-bps |
| Coverage per distribution | mirrored | calculate-rewards event (gross-accrued-rewards) ÷ Σ target-yield of the bond-distribution events |
The on-chain figure rebuilds the pool from rewards-per-token × shares. Integer truncation makes it accurate to within ±2 sats per computed interval.
Not Hiro's waterfall.bonds
Hiro's rewards.btc.waterfall.bonds is the amount paid to bonds, not the amount owed. In a shortfall, coverage computed from it would read 1.0×. Metacenter always uses the target.
Reference lines
- 1.0×: bond yield is impaired.
- 2.0×: the coverage target cited in the Bitcoin Staking SIP discussion.