ATOM · continuous staking emission, no supply cap.
ATOM is the staking token of the Cosmos Hub, the original inter-chain hub — no hard cap, ~512M circulating.
Sell pressure. Dynamic PoS staking emission — a 7-20% band tied to the bonded ratio (~67% staked), recently ~11% — about 14.6M ATOM / 90D.
Buy pressure. No buyback, no fee burn (the ATOM-2.0 burn proposal is not adopted) — zero structural absorption.
Net. Pure staking inflation at face value — new supply to market is ~+2.9% over 90 days, among the higher-emission L1s in coverage.
Tendermint-PoS staking emission. Dynamic inflation band 7–20% annual tied to bonded ratio (target ~2/3). Recent realised pace ~12% annualized ≈ ~15.7M ATOM / 90D. 2026 tokenomics-overhaul proposals (10% inflation cap, EIP-1559-style fee burn, ATOM 2.0 path to 2–7%) under research but not yet adopted.
No active vesting cliffs in window. Genesis ICP and Foundation allocations vested over the first 2 years post-2019 launch — completed long before this window.
Interchain Foundation + Cosmos Hub Community Pool treasury exist but per-wallet sales registry not separately disclosed. No on-record discretionary market sales in window. Treated as 0 with monitored note.
No bankruptcy estate. Cosmos Hub staking has a 21-day unbonding delay (operational, not long-term per framework definition).
No revenue-funded buyback on the Cosmos Hub. Staking rewards are funded by new emission, not by purchasing ATOM back from market.
No EIP-1559 base-fee burn on Cosmos Hub native ATOM. Transaction fees go to validators / Community Pool, not destroyed. 2026 ATOM-2.0-track proposals include a fee-burn mechanism but are not yet adopted.
No on-record Interchain Foundation accumulation programme.
Bonded staking ATOM (~60–70% of supply) is operationally locked but withdrawable after the 21-day unbonding delay — not a long-term lock per framework definition.
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