Kaia to Burn 2.46 Million Tokens After 98.5% of First CR Mission Budget Went Unused
Summary
- The Kaia Foundation said it plans to burn 2,463,579 KAIA tokens, equal to 98.5% of the total reward budget for its first CR mission.
- Actual rewards distributed in Epoch 1 totaled 36,421 KAIA, and the tokens allocated to 708 wallets will unlock linearly over the next six months.
- The CR system replaced the existing Proposal Reward (PR), which accounted for 10% of block rewards, with compensation based on actual contribution, and any undistributed tokens will be burned.
Forecast Trend Report by Period
Kaia will burn about 2.46 million KAIA tokens left undistributed in its first Contribution Reward, or CR, mission.
The Kaia Foundation said in an operations report released Sept. 9 for "CR Mission 1 Epoch 1" that it will burn 2,463,579 KAIA tokens from a total reward budget of 2.5 million KAIA. The amount equals 98.5% of the total reward budget. Those tokens are not included in circulating supply.
Actual rewards distributed in Epoch 1 totaled 36,421 KAIA. A total of 708 wallets participated, and reward claims began Sept. 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 compensation based on actual contribution. Monthly rewards are allocated to participants who stake KAIA and deposit Tether's USDT from the same wallet. Any undistributed tokens are burned.
Burns will be carried out across three epochs. The first burn, including the undistributed allocation from Epoch 1, is scheduled for November.
Meanwhile, Epoch 2 is underway under the same conditions as Epoch 1. Existing participants can continue without taking any additional steps.
