Kada is an implementation of a Cosmos SDK Module that allows for governance controlled minting of coins into a module account. Coins are minted during inflationary periods, which each period have a governance specified APR and duration. This module does not provide functionality for spending or distributing the minted coins.
The minting mechanism in this module is designed to allow governance to determine a set of inflationary periods and the APR rate of inflation for each period. This module mints coins each block according to the schedule such that after 1 year the APR inflation worth of coins will have been minted. Governance can alter the APR inflation using a parameter change proposal. Parameter change proposals that change the APR will take effect in the block after they pass.
There are no messages in the kavadist module. All state transitions are controlled by parameters, which can be updated via parameter change proposals.