TEL · the supply is fixed, but the treasury keeps handing it out.

Telcoin cannot create new TEL. All 100.00B were minted once in 2017 and the live token contracts have no mint function, so there is no block reward, no staking emission and no issuance above the cap. The mobile-operator chain that would pay validators in TEL is still on its public test network, not live. A token-upgrade proposal filed on Jul 18 2026 would add mint and burn functions, so this row is watched rather than closed.

The 2017-18 sale and the team allocation finished vesting years ago. No unlock tracker carries a TEL schedule and no cliff sits in this window or after it, so there is nothing left to release on a calendar.

This is the whole story for TEL. The Telcoin Association pays platform incentives out of pre-minted council wallets, and those wallets drained 51.1M TEL into the market over the 90 days. The liquidity-mining safe alone fell from 142.4M to 86.7M with no top-up, sending 15.1M to liquidity providers, 25.0M to three app staking-reward contracts in three monthly rounds, and 15.6M to an operations wallet that swaps TEL for dollars. The application-network safe sent a further 2.2M in weekly trading-fee rebates and still holds 162.5M. Behind them sits the Treasury: 4.92B TEL that has never entered the market, with a 900M budget voted for 2026 and no per-release schedule.

No bankruptcy estate, court-ordered distribution or expiring lock-up contract touches TEL. Nothing in this row exists for this token.

There is no buyback. Telcoin has never authorised one, and the flow runs the other way — the Association's operations wallet sells TEL for dollars to fund the platform. No public evidence of release in window — monitored.

No TEL is destroyed. The gas mechanism designed for the mobile-operator chain destroys a share of each block's fees and re-issues the same amount to the Treasury, so it is supply-neutral even once it runs, and that chain is still on its test network. The token supply did not fall by a single unit over the window.

The Association bought no TEL on the open market. Its 2026 budget is denominated in TEL it already holds, and the treasury flow observed in the window is outward. No public evidence of release in window — monitored.

No new lock contract or escrow with an announced size was deployed. Wallet staking inside the Telcoin app did grow by about 70.0M TEL, but that is user-elective, redeemable at will and already inside the circulating count, so it is not supply taken off the market.