KITE · no new coins can be made, and the first cliff since launch opens this quarter.

No new KITE is created. The whole 10,000M was made once, at the start, and the token contract has no function that can add a coin — the full list of what the contract can do was read this session and there is nothing in it that mints. Validators, stakers and module builders are paid out of coins that already exist, from the pre-made ecosystem pool. The count of KITE on Ethereum did move by 217,790 over the 90 days, and that is coins arriving from another chain, not new ones: the bridge destroys on the way out and recreates on the way in, so the worldwide total never changes. Owner powers are real but do not touch supply — pause, unpause and blacklist.

This is the entire supply story, and it has two halves. The first is a drip: 99 project multisigs were read at both ends of the window and exactly four of them moved, paying out 161.0M KITE into the market between Jun 10 2026 and Sep 8 2026. Every coin was already made; what changed is that it stopped sitting in a safe. The calendar billed about 327.8M over the same stretch, so under half of what was due actually left. The second half is a cliff. On Nov 3 2026, one year after launch, the team and investor allocations open for the first time and release 800.0M KITE in a single step — 500.0M for the team, 300.0M for investors, a quarter of each pot. Neither pot has released a single coin to date.

Nothing discretionary left in the window, but the watched pile is very large: 8,628.7M KITE — 86% of everything that will ever exist — still sits inside 99 project multisigs. Four of them are the distribution vaults at 3,035.0M, and they are behind their own calendar by roughly 477.6M that was billed and never drawn. One holds exactly 1,200.0M and has not sent a coin since Oct 23 2025 — that is the investor pot, and it opens on Nov 3 2026. Another 2,290.6M sits across five further team multisigs that did not move at all, and 600.0M more sits in twenty module-operator wallets holding 30.0M each. None of these is on a release calendar of its own. No public evidence of release in window — monitored.

There is no bankruptcy estate, no trustee and no court-ordered distribution attached to KITE. Nothing sits in this row and nothing is expected to.

The project describes taking a commission on AI-service payments and swapping it for KITE on the open market. Nothing has run. There is no contract, no dashboard and no wallet published for it, and not one address in the enumerated holder set accumulated KITE across the window except exchange wallets. Because the destination has never been disclosed, the size of any future pile is unknown — that gap is carried on the sell side above.

Nothing was destroyed, and this was checked on both surfaces at both ends rather than trusting either alone. The two unspendable addresses held zero KITE on both dates. The count of KITE in existence rose slightly, by 217,790, which is the opposite of a burn — it is coins arriving over the bridge. The same check was run on the two other networks the token lives on, where the unspendable address holds a fraction of one coin and has not changed, and on the project's own Layer 1, which publishes no fee-burn at all. The token contract has no burn function in the first place.

The foundation bought no KITE on the market. Every project multisig either stood still or paid out over the window; not one took coins in.

Nothing new was locked away. There is no staking contract holding a meaningful balance anywhere in the enumerated holder set, and the staking design the project has published pays a target yield out of the existing pool rather than taking coins off the market.