Kaspa (KAS) has a maximum supply of approximately 28.7 billion coins, distributed through a smooth, exponentially decaying emission schedule. Unlike Bitcoin’s sharp four-year halvings, Kaspa’s block rewards decline gradually every month by about 1 %. This approach prevents sudden supply shocks, stabilizes miner incentives, and leads the network toward near-total coin issuance by around 2038 — after which new supply becomes negligible and Kaspa effectively enters a deflationary phase.
Why Kaspa Has a Maximum Supply
Kaspa’s design philosophy combines fairness, predictability, and sustainability. The total supply cap of roughly 28.7 billion KAS ensures long-term scarcity, while the continuous reward decay guarantees miners a consistent, declining emission rather than sudden halving events.
This design helps:
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Avoid market volatility caused by abrupt halvings.
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Provide a fair, transparent distribution to early participants.
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Maintain steady network security through balanced miner incentives.
Kaspa Supply Overview
| Metric | Details |
|---|---|
| Token Name | Kaspa (KAS) |
| Consensus Mechanism | Proof-of-Work (kHeavyHash + GHOSTDAG) |
| Maximum Supply | ~28.7 billion KAS |
| Circulating Supply (2025) | ~26 billion KAS |
| Initial Block Reward | 440 KAS per block |
| Emission Type | Continuous exponential decay |
| Block Time | ~1 second |
| Near-Max Supply Reached | Around 2038 |
How the Emission Curve Works
Kaspa’s emission model reduces miner rewards by roughly 1 % each month, equating to about 12 % less each year.
This creates a gradual downward curve in new coin creation instead of sharp halvings.
Simplified progression:
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Year 1–3: Rapid coin distribution as network bootstraps.
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Year 4–10: Inflation slows significantly; over 90 % of supply mined.
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Year 10–15: Inflation rate falls below 1 % per year.
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Year 15–20 (~2038): Around 99 % of KAS in circulation.
Beyond this point, emissions are so small they become economically insignificant — effectively locking in the 28.7 billion KAS cap.
Why the Gradual Model Matters
1. Smoother Market Behavior
Bitcoin’s halving events often cause speculative hype and sudden price movements. Kaspa’s steady emission avoids those shocks, promoting gradual, organic growth.
2. Stable Mining Incentives
Miners experience predictable revenue declines, allowing for better long-term planning and network stability.
3. Sustainable Scarcity
As the new supply slows, Kaspa becomes increasingly scarce, supporting potential long-term value appreciation.
4. Continuous Network Security
The emission curve ensures the network remains well-secured without drastic reward reductions that might drive miners away.
Kaspa vs. Bitcoin: Supply Models
| Feature | Kaspa | Bitcoin |
|---|---|---|
| Max Supply | 28.7 billion KAS | 21 million BTC |
| Emission Model | Smooth exponential decay | Fixed halvings every 4 years |
| Block Time | ~1 second | ~10 minutes |
| Halving/Decay Frequency | Continuous (~1 % per month) | Every 210,000 blocks (~4 years) |
| Supply Saturation | ~2038 | ~2140 |
| Volatility Impact | Low | High during halving cycles |
Kaspa’s model achieves the same long-term scarcity as Bitcoin but distributes it more evenly across time.
The Long-Term Outlook
By around 2038, roughly 99 % of all KAS will be in circulation.
At that stage, the network will rely primarily on transaction fees to reward miners — similar to Bitcoin’s post-halving economy.
Once the emission slows to near zero, Kaspa effectively transitions into a deflationary digital asset, where scarcity and utility determine its long-term value.
Key Takeaway
Kaspa’s total supply of ~28.7 billion KAS is governed by a mathematically precise decay curve, ensuring sustainable distribution and long-term scarcity.
By 2038, the network will have released nearly all its coins — entering a low-inflation, deflationary era designed for stability, fairness, and longevity.
In short:
Kaspa’s maximum supply is about 28.7 billion KAS and will be nearly fully mined by 2038. Its continuous, predictable emission schedule ensures smooth scarcity without the disruptive halving shocks seen in Bitcoin’s model.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice.