Community governance can decide which pools, programs, and initiatives to support with the emission schedule, but it cannot be increased past the
100,000,000 FXS supply max. Thus, a maximum of
60,000,000 FXS will be distributed to the community for liquidity programs and other DeFi initiatives as they appear in the space as voted by governance. New programs can be added by governance to the remaining allocation, but no more than
60,000,000 FXS can be allocated due to the hard cap of
100,000,000 FXS distributed. This is to put a hard cap on the amount of FXS as well as to put a hard duration on the number of years required to distribute the FXS. This emission rate was chosen to balance the need for a large amount of rewards for early adopters while not distributing all FXS too early which is needed for long term community sustainability. The FXS emission should be thought of and modeled more after Bitcoin mining than anything else. FXS distribution needs to be multi-year, extended, and sustainable until the protocol reaches ubiquity.