Stress test
Split one distribution under a hypothetical pool or bond book, in pox-5's payout order.
The stress test takes the latest distribution as its base and applies:
- Miner BTC commit drop: cuts the pool directly.
- STX price drop: cuts the pool (assuming miner bids scale with price) and lowers the price used for the APY.
- Book: the current bonds, or a hypothetical book of 1–6 equal bonds (3% target, stx-value-ratios stepped 5% apart).
pool = base_pool × (1 − commit_drop) × (1 − price_drop), then bonds are paid in pox-5 order, 15% of the remainder goes to the reserve, and the rest to STX-only stakers.
Examples (live)
- No stress reproduces the realised figures: coverage 16.68×, STX-only APY 6.67% hypothetical (
/stress, base distribution 286 (cycle 143, calculation height 967399)) - 50% commit drop: pool 115,163,917 sats, coverage 8.34×, STX-only APY 3.12% hypothetical (
/stress?commit_drop=0.5, base distribution 286 (cycle 143, calculation height 967399)) - 3,000 BTC book, 30% price drop: coverage 0.90×, shortfall 18,770,516 sats, bonds full / full / full / full / full / partial hypothetical (
/stress?book_btc=3000&bonds=6&price_drop=0.3, base distribution 286 (cycle 143, calculation height 967399))
What the miner-commit model rests on
The pool per interval is the sum of confirmed miner commits to the sBTC deposit address. That is roughly 1,050 blocks × the paying fraction × per-block spend. See Missing-blocks finding.