Kaia to Burn 2.46 Million Tokens, or 98.5% of Unused CR Mission 1 Epoch 1 Budget
Summary
- The Kaia Foundation said it will burn 2,463,579 KAIA (98.5%) out of the 2.5 million KAIA allocated to the total reward budget for "CR Mission 1 Epoch 1."
- Rewards actually distributed in Epoch 1 totaled 36,421 KAIA, while 708 wallets took part and began claiming rewards. The distributed tokens will unlock linearly over six months.
- CR is a system that converted Proposal Rewards, or PR, which had accounted for 10% of block rewards, into rewards based on actual contributions. Any undistributed tokens are burned, with burns carried out across three epochs.
Forecast Trend Report by Period
Kaia will burn about 2.46 million KAIA tokens left unused from its first Contribution Reward, or CR, mission.
The Kaia Foundation said in an operating report released on September 9 for "CR Mission 1 Epoch 1" that it will burn 2,463,579 KAIA out of the 2.5 million tokens allocated to the total reward budget. That represents 98.5% of the full reward pool. The tokens will not be included in circulating supply.
Rewards actually distributed in Epoch 1 totaled 36,421 KAIA. A total of 708 wallets participated, and reward claims began on September 7. The distributed tokens will unlock linearly over the next six months.
CR is a system that converted Proposal Rewards, or PR, which previously accounted for 10% of block rewards, into payouts based on actual contributions. Monthly budgets are allocated to participants who stake KAIA and deposit Tether (USDT) through the same wallet. Any undistributed tokens are burned.
The burn will be carried out over three epochs. The first burn, including the unused allocation from Epoch 1, is scheduled for November.
Epoch 2 is now underway under the same terms as Epoch 1. Existing participants can continue without taking any additional steps.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul