Hedera · HBAR

All 50B HBAR were created at launch and the ledger has no way to issue more — the total read exactly the same at both ends of the window, to the last unit. Staking rewards are paid out of a pool that already sits inside the circulating float, so they move coins between holders instead of adding any.

No dated team or investor cliff falls inside the window. The old investor-agreement rounds are spent to a rounding error — 0.18M released in the first quarter of 2026 and nothing in the second. What is left to release sits with the Governing Council and moves at its own discretion, so it is booked in row 3 rather than counted twice.

The float grew 458.04M HBAR between Jun 2 2026 and Aug 31 2026, read straight off the network's own supply record at both ends and confirmed a second way from the treasury side: the Council's own reserve accounts fell 458.04M over the same window. Every unit came out of the allocated reserve, which drained from 2.76B to 2.31B; the unallocated pool of 3.86B did not move. It arrived in three lumps — about 117M in late June, 300M in early July and 40M in late August — not as a drip. That leaves 6.17B HBAR, about 12% of the cap, still held by the Council. Its own quarterly report guides a further 3.48B before Sep 30 2026, but the same ecosystem line has now been guided and missed four quarters running, so it is watched rather than counted.

No bankruptcy estate or court-ordered distribution holds HBAR, so there is no trustee release to track.

The pool paying stakers fell from 191.2M to 145.4M HBAR across the window, but it already sits inside the circulating float, so payouts move coins around instead of adding any. At this drain rate it has roughly three quarters left before a top-up from reserve would add real supply.

Hedera runs no buyback. Neither the network nor the Governing Council operates a contract or programme that repurchases HBAR.

Nothing is destroyed, and it was checked from both sides: the 50B total read identical at each end of the window, and there is no unspendable address for fees to pile up in — the network has none. Fees are collected instead. Node operators take their share, the rest lands in a treasury account, and a documented tenth of it tops up the staking and node reward pools. That treasury account took in 0.04M HBAR across the whole window. Measured transaction by transaction, the entire network charges about 5.1K HBAR a day.

No public evidence of release in window — monitored.

No new lockup contract or staking cap landed in the window, and native staking is not a lock at all — every node accepts a zero minimum, the staked balance stays liquid at all times, there is no bonding period and there is no slashing, so the coins never leave the holder's own account. A US spot fund custodies a small slice of the float, but its shares redeem on demand, so it counts as demand rather than a lock.