ICP · mint exceeds burn, but Mission 70 cuts the rate.
Internet Computer is a PoS layer-1 governed by the NNS DAO. ~552M ICP total — no max cap, total equals circulating. Mission 70 (passed Jan 2026) cuts NNS voting reward 5.88% → 3.45% (−41%) and node-provider reward 3.84% → 1.97% (−49%) over a 12-month glide; we're at mid-glide for the full 90D window. Last 90D: ~5.16M minted vs ~0.22M cycles burned (the only structural buy mechanism). Net ~+0.89% to market. Next 90D projects lower as Mission 70's glide continues (rate falls 5.42% → 5.22%) and cycle burn rises with adoption.
NNS voting + node-provider mint at Mission 70 mid-glide. Mission 70 (passed Jan 2026) cuts the voting reward rate from 5.88% → 3.45% (−41%) and node-provider rate from 3.84% → 1.97% (−49%) over a 12-month glide. Current effective gross ~3.78%/yr → ~5.16M ICP / 90D.
All genesis cliffs completed May 2024 (3-year strategic round ended). No remaining published vesting schedule for ICP.
DFINITY Foundation endowment proxy is a cluster of seed-bucket neurons (~73M ICP). No published deployment cadence, no on-chain ICP-flow disclosure, no observable dissolves in the window. Foundation transparency is quarterly aggregate USD reporting.
No bankruptcy estate. No long-term-locked ICP scheduled to unlock in the window.
Internet Computer has no protocol buyback mechanism. No Reserve-style accumulator, no revenue-funded buyback, no on-chain treasury that buys ICP from market.
Cycles burn. Cycles are the network's gas unit — every canister computation burns cycles, which are minted from ICP and destroyed on use. An ICP burn happens whenever a canister executes work. Smoothed rate ~57.32B cycles/s × 90D ÷ 1.9963 XDR/ICP ≈ 223K ICP / 90D. The only structural demand-side mechanism for ICP.
DFINITY does not run a Foundation-led ICP accumulation programme. The Foundation is a net disburser — grants are funded from the seed-bucket endowment outward, not from market buying.
Community Fund total staked stable at ~15.18M ICP — no fresh long-term lock-up in the window. Voting neurons can be locked for 8-year dissolve delays but the aggregate net change is historically near zero.
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