CFX Inflation Analysis · October 2026 · Mixed flows · supply roughly steady

CFX supply grows slowly and steadily: the MrNasdog Pressure Framework reads Conflux as mixed flows with supply roughly steady. In the 90 days to Oct 10 2026, Conflux paid 23,055,419 new CFX to miners and stakers while its fee and storage burns destroyed only 7,625 CFX, so net supply rose +0.44%, against +0.61% on our monitor. There is no supply cap, no vesting left and no buyback, so the pace is set by two rates that CFX stakers vote on.

The verdict, in one paragraph

Against 5.25B CFX in circulation, 23.06M new coins minus 7,625 burned is a net rise of +0.44% over 90 days, and the next 90 days project the same +0.44% because neither reward rate changed in the window and the last vote kept them as they are. Our monitor, which reads the classified supply from the market side, shows +0.61%. The gap is 0.17 percentage points, inside our 0.5-point tolerance, so no warning chip is shown. In one line: Conflux is a quiet, steadily inflating chain whose new coins go mostly to stakers.

Sell pressure: where new CFX comes from

Protocol inflation is the whole sell side: 23,055,419 CFX in 90 days, about 256,000 CFX a day. Conflux runs proof of work and proof of stake on one chain, and both are paid in fresh CFX. Miners earn a base reward of about 0.40 CFX per block, and the chain makes roughly two blocks a second, which came to about 6.25M CFX in the window. That reward was cut in half, from 0.8 CFX, on Apr 7 2026 after a holder vote, so this whole window already ran at the lower rate.

Stakers took the larger share, about 16.82M CFX. The staking interest grows with the square root of everything staked, so a bigger stake means more new coins in total. The stake rose from 850.6M CFX to 930.2M CFX during the window, and the published staking yield sits near 8.2% a year. We read the chain's own issued-supply counter at both ends of the window and added back the burns, which gives the new-coin figure exactly; the reward records from the block explorer land within 0.05% of it.

Vesting unlocks are zero. The 5B CFX created at launch in 2020 finished unlocking in 2024, and the chain's own unlock pools now read zero. Foundation and unscheduled unlocks are also zero on our ledger: Conflux's large fund contracts did pay out coins this window, but every one of those coins was already counted as circulating, so moving them adds nothing new to the market count. Long-term locks and bankruptcy estates are zero too; no estate, trustee or long lock-up pays CFX out.

Buy pressure: where new CFX goes

Conflux has no programmatic buyback, so that row is zero. The foundation announced a one-time 76M CFX burn from the ecosystem fund back in 2025, but nothing like it happened in this window.

The protocol fee burn is the only buy-side flow: 7,625 CFX in 90 days. Part of every transaction's base fee is destroyed (2,224 CFX), and CFX locked to pay for storage is destroyed when it is turned into storage points (5,401 CFX). Both burns lower the chain's issued-supply counter directly. Fees on Conflux cost a tiny fraction of a cent, so the burn removes only about one CFX for every 3,000 created.

The foundation did not buy CFX on the market this window, so that row is zero. New long-term locks are zero as well: staking grew by 79.6M CFX, but staked CFX still counts as circulating, so a bigger stake removes nothing from the float. It only raises the interest Conflux pays out.

Foundation and overhang

Four large fund contracts hold about 2.31B CFX between them: 1.35B, 557.6M, 302.9M and 104.7M. Each month they send coins to one project wallet, which passes them on, much of it into the Conflux eSpace side of the chain where rewards and partner deals are paid. About 67.2M CFX left the funds in these 90 days, including 25.0M on Jul 15 2026 and 26.6M on Aug 14 2026 from the largest one. A fifth contract holds 665.0M CFX with no public label and did not move at all.

These balances are already part of the 5.25B circulating CFX, so their payouts book zero on our ledger, but they are the largest pool of coins that could reach the market quickly. About 573M CFX also sit at the zero address, which counts as gone. We read the fund balances straight from the chain at every rebuild. If any fund's balance falls between refreshes in a way that takes coins from outside the circulating count, that outflow enters Sell #3 at the next refresh.

How CFX compares to other uncapped proof-of-work and proof-of-stake chains

Conflux sits between two families. Like a proof-of-work coin it pays miners a fixed reward per block, but unlike Bitcoin or Kaspa there is no halving clock or hard cap: the block reward changes only when CFX stakers vote to change it. Like a proof-of-stake chain it pays stakers interest that grows with the stake, which is the same shape as Ethereum's validator pay. The difference is the burn. Ethereum's fee burn offsets a real slice of its new coins, while Conflux's burn is so small that almost all new CFX stays in supply.

Against other uncapped Layer-1 chains, +0.44% per 90 days, about 1.8% a year, is mild. Chains that pay staking rewards from a fixed reserve, such as Cardano, inflate on a falling curve set in code; Conflux's rate is set by holder votes every few months instead, which means it can move down, as it did in April 2026, or up. There is no unlock calendar to watch, as there is on younger chains with team and investor coins still locked.

What to watch in the next 90 days

The next parameter vote settles around Dec 3 2026. No votes had been cast in the current round when we checked on Oct 10 2026, and the round before kept the block reward and the staking rate unchanged. A cut would lower new CFX; a rise would add to it.

The size of the stake is the second dial. Every new CFX staked lifts the total interest paid, so if the stake keeps climbing from 930.2M CFX, the 90-day figure will creep above 23.06M even with no vote.

The monthly fund payouts, usually around the middle of each month, are the third line to watch. They do not change our count while the coins stay inside the circulating supply, but a large payout into exchanges is still coins that can be sold.

Finally, any new company-treasury deal from the ecosystem fund, which was proposed in 2025 with a lock-up of at least four years, would be worth noting: a long lock would hold those coins back from the market.

Summary

Conflux (CFX) adds about 0.44% to its supply every 90 days: 23.06M new CFX for miners and stakers against a 7,625 CFX fee and storage burn. The vesting era is over and there is no buyback, so the only real dials are the block reward and the staking rate that CFX holders vote on, plus the size of the stake itself. The main risk is the 2.31B CFXheld in project fund contracts, which pay out every month. There is no supply cap; the ceiling is whatever the next vote allows.

MrNasdog Pressure Framework analysis of CFX, Metric 1 — Inflation. Data + explanation only. Not financial advice. Checked Oct 10 2026.