Kite · a hard cap, but the unlocks are the whole story.

Kite has a hard cap of 10 billion KITE and every unit was minted at launch on Nov 3 2025, so the chain creates no new supply — it is not an emission network. On-chain total supply held flat across the window, so this row is structurally zero and stays there; all of Kite's supply growth is vesting, not minting.

This is the only real source of new float in Kite. Only about 24% of the 10B supply circulates, and the ecosystem and module allocations release a slice every month. The published calendar bills roughly 328M for a 90-day window, but the tokens sit in readable on-chain escrows and the calendar overstates what actually leaves them: reading the four vesting contracts at both ends of the window shows a realised outflow of about 152M — the honest sell figure, since tokens that vested on paper but never left the contract are not on the market yet. The escrows did not move until about Jun 5 2026, so all of that release landed in the back half of the window, and with no cliff before Nov 3 2026 the same monthly pace carries forward at about 152M next quarter.

No discretionary release was seen this window, but the overhang is the whole story in KITE. The investor vault holds exactly 1,200M and has not moved a single token; the team and early-contributor wallets hold roughly 2,000M and are equally still — both sit behind a 12-month cliff that opens around Nov 3 2026, so together about 3,200M begins releasing just past this window. On top of that, the difference between the calendar and the realised release — around 176M — is still inside the vesting escrows. None of it is booked, because capacity is not a schedule, but if any of these balances falls between refreshes it lands here.

There is no Kite estate, no trustee and no court-supervised seller. The long-dated insider locks are covered by the vesting and Foundation rows above.

Kite runs no buyback. No buyback contract has executed and fee revenue is not routed back into KITE on the open market, so there is no programmatic counter-flow to the monthly vesting.

There is no burn path. Kite charges network gas in stablecoins rather than in KITE, so activity on the chain never removes KITE from supply the way an EIP-1559 base-fee burn would. This row is structurally zero — the buy side has no mechanism to shrink supply.

No open-market buying by the Kite foundation. It is a holder and distributor of supply, not a buyer.

Staking will lock KITE as the network matures, but no new lock-up programme, staking cap or dedicated lock contract with a stated quantum was announced in the last 90 days.