Reference
What it does
BME exposes conversion interfaces between native VE (uve) and VirtEngine Compute Credit, VCC (uvcc). The conversion message handlers currently return pending without executing oracle-priced bank conversion. Generic bank mint/burn helpers exist, but a credit name does not establish a peg or redemption guarantee.
Primary human-led issuance is a separate proposed policy: zero initial supply, no fixed cap, and a 14:1 human/public-benefit batch split. Service-credit conversion is not a second personhood allocation. BME billing transfers funds to providers and burns only a configurable fee, which defaults to zero.
Why it exists: Separate monetary units from service accounting and make conversion flows inspectable. Net native burning must account for reissuance, refunds, and reserves before any recurring-demand or equilibrium claim can be evaluated.
State
Primary objects
| Concept | Definition |
|---|---|
VirtEngine Compute Credit | VCC (uvcc), the service-accounting unit named by VirtEngine's conversion interfaces, distinct from native VE (uve). |
Net native burning | Native units destroyed minus native units reissued over a defined interval. A gross burn alone does not establish a permanent sink or an equilibrium. |
Messages
Messages & queries
Message and query surfaces are documented at implementation level in the module docs ↗ and the source ↗. The objects above are the state those messages create and transition.
Connections
Module interactions
-
x/settlementPays the full agreed amount in VCC from escrow. -
x/issuancepolicyMint schedules operate under governed issuance policy. -
x/stakingIssuance funds staking rewards alongside the inflation mechanism.
Flows
Core flow
- Specify — Define the conversion. A source amount and destination denomination describe intended conversion; primary personhood issuance is separate.
- Integrate — Complete the missing execution. The handlers still require bank/oracle execution, authorization, collateral safeguards, and atomic failure tests.
- Account — Track both sides. Measure native units burned and reissued, outstanding credits, redemptions, and actual provider transfers.
- Govern — Review policy and scope. Test governance protection, human benefit, reserves, and outside-market alternatives before claiming an equilibrium.
Questions
Asked about x/bme
What is burn-and-mint equilibrium?
A proposed supply-and-demand relationship to evaluate. Current BME handlers do not establish an equilibrium or a permanent monetary sink; net burning requires subtracting native reissuance from native destruction.
Is there a maximum supply?
No fixed maximum and zero initial supply. New tokens issue only through verified human identities, with continued issuance as new identities are verified and the verified population grows.
What still needs work here?
Conversion execution, credit/redemption rules, oracle and collateral integration, failure atomicity, and policy-aligned simulations. Current pending handlers are not evidence that conversion or human–machine coupling works.
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