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# # Begin-Block

Minting parameters are recalculated and inflation paid at the beginning of each block.

## # NextInflationRate

The target annual inflation rate is recalculated each block. The inflation is also subject to a rate change (positive or negative) depending on the distance from the desired ratio (67%). The maximum rate change possible is defined to be 13% per year, however the annual inflation is capped as between 7% and 20%.

## # NextAnnualProvisions

Calculate the annual provisions based on current total supply and inflation rate. This parameter is calculated once per block.

## # BlockProvision

Calculate the provisions generated for each block based on current annual provisions. The provisions are then minted by the `mint`

module's `ModuleMinterAccount`

and then transferred to the `auth`

's `FeeCollector`

`ModuleAccount`

.