Hey Schew - thank you for your comments.

Pmin(t+1) = R(t+1)/M(t+1): Pmin also covers all newly created redistribution. You should not minus what is taken out for redistribution.

The interim formula Pmin(t+1) =( R(t’) + W * nR(t’) ) / M(t’) is essentially looking at what % of New Reserves are being pushed to increase Pmin for the next period, where the remainder will be used for redistribution. The M(t’) also includes any new supply created over that period prior to re-distribution.

You are right, the next formula is:

rM(t’) = (R(t’)/Pmin(t+1)) - M(t’)

It is missing the all important (-)!!

Redistribution supply = (Reserves at end of period/next period Pmin) MINUS period end Rad supply

Thanks for picking up that error!