CFX · a halved mint, an idle burn, and supply that barely moves.
CFX is the gas and staking token of Conflux, a Tree-Graph proof-of-work and proof-of-stake hybrid — about 5.21B circulating, with no maximum supply and no vesting left: the token finished unlocking in 2024, so under 0.3%of supply sits outside the market. What is left is a mint that was cut in half in April and a burn that isn't firing.
Sell pressure. About 22M CFX was minted over 90 days from block rewards and staking rewards. A governance vote halved the mining reward from 0.8 to 0.4 CFX per block on Apr 7 2026, and it has held there ever since.
Buy pressure. Zero. There is no buyback, and although a fee burn exists, the chain is quiet enough that the burn address did not move a single CFX all window.
Net. About +0.42% to market over 90 days, and +0.42% projected for the next 90 — nearly flat, the calmest reading Conflux has shown since the reward cut.
New CFX comes from two mints — proof-of-work block rewards and proof-of-stake finalization rewards — on an uncapped supply. A DAO vote halved the PoW reward from 0.8 to 0.4 CFX per block on Apr 7 2026, and the reward has held at 0.40133 CFX per block ever since, unchanged through the whole window. Together the two mints created about 22M CFX over 90 days, roughly 0.42% of supply, with no cap to slow it.
There is no unlock calendar left. The Ecosystem Fund, Genesis Team, private-investor and Foundation allocations all finished releasing in 2024, and the chain's total supply now sits within about 14.5M CFX of the circulating figure — under 0.3% is non-circulating, and none of it is scheduled.
Two team-controlled pools are tracked: the roughly 14.5M CFX non-circulating Foundation and ecosystem residual, and the 500M CFX the Foundation staked into proof-of-stake in a 2025 governance round. Neither moved to market in this window. No public evidence of release in window — monitored.
There is no Conflux estate, no trustee and no court-ordered distribution. Nothing can enter the market from this row.
Conflux runs no buyback. There is no protocol contract that buys CFX and no revenue-funded purchase programme; the supply reductions it does run are one-off governance burns, not a standing programme, so nothing offsets the mint from this row.
A base-fee burn does exist, but the chain is too quiet to feed it — the burn address held 572,964,410 CFX and did not move by a single unit across the window, so the realised burn is zero. The 76M CFX governance burn people remember was carried out in 2025, more than a year before this window.
The Conflux Foundation has not disclosed any open-market CFX purchase. No public evidence of purchase in window — monitored.
No new lockup was created in the window. The 500M CFX the Foundation staked into proof-of-stake dates to a 2025 governance round, and staked CFX stays inside the circulating figure, so nothing came off the market here.
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