KAS · one tap, and it closes a little every month.
KAS is the native coin of Kaspa, a proof-of-work BlockDAG that produces about ten blocks a second — 27.67B circulating against a protocol cap of 28.70B KAS. The chain opened with a supply of zero and no allocation to anyone, so there is no cap table and no calendar here. Mining is the only way a KAS has ever existed.
Sell pressure. One row carries the whole sell side. The block subsidy shrinks 5.6% every month on a fixed curve, and it stepped down three times inside the window — from 2.75 KAS a block to 2.31. New supply: 192.08M KAS in 90 days.
Buy pressure. Nothing. No buyback, no fee burn, no staking lock, no treasury — fees go to miners and the buy side is a clean 0.
Net. About +0.69% to market over 90 days, easing to +0.59% as three more step-downs land — the next on Sep 4 2026. Slow growth, and it gets slower every month by design.
- Block subsidy step-down2.18 KAS/blockSep 4 2026 · less new supply
- Block subsidy step-down2.06 KAS/blockOct 5 2026 · less new supply
- Block subsidy step-down1.94 KAS/blockNov 4 2026 · less new supply
Mining is the only mint. The block subsidy fell three times inside the window on its fixed monthly curve, from 2.75 KAS a block to 2.31 KAS, and 192.08M KAS was issued. The forward window loses three more steps, so 161.94M is projected.
There is nothing to vest. The chain opened with a genesis supply of zero and no ICO, presale or premine, so no allocation was ever created that a schedule could release.
No protocol allocation exists for any team, foundation or investor. The one identified group-controlled wallet is a donor-funded community multisig holding about 1,831 KAS, coins that were donated by miners and already circulating.
No estate, no escrow, no lock contract. The only supply not yet in the market is the 1,031.89M KAS still unmined beneath the protocol cap, released solely by mining.
The protocol takes no revenue and holds no treasury, so there is nothing that could fund a buyback and no entity that could run one.
Transaction fees are paid straight to miners in the coinbase, so nothing is destroyed. A keyless community address holds 11.23M KAS sent there voluntarily since 2021, but it took in only 328 KAS across the window.
There is no foundation treasury to buy with. The ecosystem foundation is donation and grant funded and holds no protocol allocation.
This is proof of work with no staking, no bonding and no vault, so there is no mechanism that takes coins off the market for a fixed term.
My research. My portfolio. Free.
Deep research weekly. My real holdings monthly.