Gram

Every new block pays its makers in new GRAM: 1.7 per main-chain block and 1 per work-chain block. Since the network sped up to about 0.41 seconds a block in April, that adds up fast. Read against total supply at both ends of the window, with the burn added back, 50.89M new GRAM were created in 90 days — about 565,000 a day. A planned cut to the block reward was discussed in April but never passed. Since Aug 20 2026 the network makes slightly more blocks, about 575,000 GRAM a day, so the next 90 days use that rate: about 51.75M.

The Believers Fund is a lock where holders put 1.03B coins in 2023. Since Oct 12 2025 it opens one slice of about 36.6M every 30 days, for 36 slices. But holders must claim their coins, and most have not: only 21.09M left the lock in this window, and 67.46M in total, against 402.5M already opened. The fund still holds 1.25B GRAM. The next 90 days use the claimed pace, not the slice size.

A Telegram treasury wallet sent 10M GRAM four times in this window (Jul 3, Aug 8, Aug 29, Sep 21) to the wallet that pays channel owners and sellers on Telegram's marketplace. It fell from 142.4M to 102.4M, and those coins are now in the market. At about one 10M payment every 27 days, we expect three more in the next 90 days: 30M. Other Telegram and marketplace wallets (about 248M, 99M and 87M) are already counted as circulating, so their moves add nothing new. The old TON Foundation wallet holds about 1.59M and did not move.

In Feb 2023 the network froze 180 early-miner wallets holding 1.08B GRAM — about 38% of today's circulating supply. The freeze is written into the network's own settings until Feb 21 2027. None of these wallets can send coins before then, so nothing reaches the market in the next 90 days. The Feb 2027 date is the largest single supply event ahead.

Nothing is bought back. No contract, company or treasury has a program to buy GRAM off the market, and the Telegram roadmap steps announced so far do not include one. Companies that hold GRAM bought it on the open market, so those coins were already circulating.

Half of every network fee is destroyed. After fees were cut six times on May 1 2026, that is small: sampled across the main chain, about 71,000 GRAM were burned in 90 days — roughly 790 a day, about 700 times smaller than new issuance. The next 90 days use the same rate.

Telegram's treasury wallet received no coins in this window; it only paid out. No foundation or company announced buying GRAM for the project.

About 544M GRAM is staked with validators, and Telegram itself became the largest validator in May 2026. But staked coins stay inside the circulating count, so more staking removes nothing from the float.

People sometimes send GRAM to the all-zero address as a way to burn it. That address is on the frozen list, so those coins can never move again: 3,834 GRAM went there in 90 days.