# On-Chain Rent Calculation

At 0xequity, token holders of a specific property receive monthly rent proportional to the number of tokens they own—the more tokens, the higher the rent. The rent per month is being calculated on-chain using the formula provided below.

## Average Number of Days in a Month

To accurately compute the average number of days in a month, accounting for leap years in the Gregorian calendar, follow these steps:

### Understanding Leap Years

The Gregorian calendar has two types of years:

**Common years**: These have 365 days.**Leap years**: These have 366 days, occurring every 4 years, except for years divisible by 100 but not divisible by 400.

### Calculating Average Days Per Year

The Gregorian calendar system we use cycles every 400 years, which is 4800 months. In a cycle, there are 7 x 400 = 2800 months of 31 days, there are 4 x 400 = 1600 months of 30 days, there are 300 +3 = 303 months of 28 days, and there are 100 - 3 = 97 months of 29 days. Taking the weighted mean, the average number of days in a month is (2800 x 31 + 1600 x 30 + 303 x 28 + 97 x 29) / 4800 = 30.436875 days exactly.

We rounded the days from 30.436875 days to 30.43684 days.

So in 1 Month (30.43684 days) = 2629743 Seconds approximately

Finally we calculate

**The Importance of On-Chain Rent Calculation**CommentCalculating rent on-chain offers numerous advantages compared to off-chain methods. Let’s explore these benefits:

1.

**Transparency:**On-chain calculations allow all transactions and computations to be publicly verified, building trust among investors.2.

**Accuracy:**Automated smart contracts eliminate human error in rent calculations, ensuring accurate distribution of rental income.3.

**Security:**Blockchain technology provides robust security, safeguarding the integrity of rent calculations against tampering or fraud.4.

**Efficiency:**Smart contracts simplify the process, reducing administrative workload and enabling quicker, real-time rent distributions.5.

**Immutable Records:**The blockchain’s unchangeable ledger guarantees that all calculations and transactions are permanently recorded, offering a dependable audit trail.

By leveraging on-chain calculations, 0xequity ensures a transparent, accurate, secure, efficient, and immutable method for distributing rental income to its token holders.

Last updated