GNO · hard-capped supply, no net mint, a redemption-burn ahead.

GNO supply is hard-capped at 3M and total already sits at the cap, so no new coins can be issued on net. Validator consensus rewards are paid in GNO, but they largely re-stake rather than reach the tradable float, and the cap holds — the realized supply change is flat.

The original 8-year vesting contract that began in Nov 2020 had its tokens burned under the 2022 supply-reduction vote that cut the cap from 10M to 3M — no dated team, seed or investor cliff reaches the market inside the window.

No public evidence of release in window — monitored. GnosisDAO holds ~1.34M GNO and Gnosis Ltd ~0.36M GNO (non-circulating) as tracked overhangs, but the DAO holdings are being drawn down by the pro-rata redemption, which burns redeemed GNO, rather than sold into the market.

No bankruptcy estate or court-ordered distribution applies to GNO.

No active open-market buyback in the window — an earlier treasury-funded buyback program has lapsed, and supply removal now runs through the redemption-burn rather than a market buy (see the redemption row).

Gnosis Chain gas is paid in a separate stable gas token, not GNO, so there is no EIP-1559-style GNO base-fee burn.

No discretionary open-market GNO buying by the DAO or Gnosis Ltd outside the redemption mechanism — monitored.

Validator staking locks 1 GNO per validator across 145,000+ validators, but no new net lock event lands in the window — the staked base is stable.

A DAO pro-rata treasury redemption passed on Jun 27 2026: holders can redeem GNO for a share of the ~$223M treasury, and redeemed GNO is permanently burned. Up to ~1.3M GNO is eligible, but no GNO had been redeemed or burned yet at the last refresh — this is the key forward deflationary force to watch.