The Nervos Network follows a unique, fixed, and predictable issuance model for its native token, CKBytes (CKB). This model ensures stability and security for all network participants, including miners, developers, and investors.

How CKB Issuance Works

CKB issuance is divided into two parts: Primary Issuance and Secondary Issuance.

Primary Issuance

• Total Supply: Capped at 33.6 billion CKBytes, similar to Bitcoin’s hard cap of 21 million.

• Halving Schedule: Rewards are halved approximately every 4 years to gradually reduce new token issuance.

• Distribution: Tokens are distributed to miners as rewards for protecting the network.

• Current Status: The first halving occurred in November 2023, reducing the annual issuance from 4.2 billion to 2.1 billion CKBytes.

Secondary Issuance

• No Cap: 1.344 billion CKBytes are issued every year indefinitely. This doesn't happen on a fixed annual date; the issuance is a continuous process, meaning that, it happens everyday.

• Purpose: Designed as a "state rent," this ensures miners are incentivized even after primary issuance decreases.

• Who It Affects:

  • Users who store their CKBytes in the Nervos DAO are shielded from this inflation.

  • Those holding liquid CKBytes or using them to occupy blockchain state bear the inflation effects.

The Genesis Block

When Nervos launched in 2019, the genesis block issued 33.6 billion CKBytes, but 25% (8.4 billion CKBytes) were burned immediately. This means the circulating supply started at 25.2 billion CKBytes.

Why This Model Matters

1. Predictability: Both primary and secondary issuances follow fixed rules, providing clarity to participants.

2. Security: Secondary issuance ensures miners remain incentivized long-term, even when transaction fees fluctuate.

3. Fairness: Long-term holders can lock their CKBytes in the Nervos DAO to avoid inflation, effectively converting their holdings into a capped supply like Bitcoin.

What This Means for You

• If you’re a long-term holder, use the Nervos DAO to protect your holdings from inflation.

• If you’re a miner, rewards are guaranteed through both primary and secondary issuance.

• If you’re a user, this model ensures a secure and reliable blockchain network.

The increase in the supply of CKBytes happens continuously and predictably, with new tokens being issued daily through mined blocks, rather than a large annual unlock. This system ensures a steady issuance to reward miners and maintain the network's security over time.

Sources:

You can find detailed and reliable information about CKByte (CKB) issuance and supply from the following official Nervos Network resources:

Nervos Official Documentation

• The Nervos website provides a comprehensive explanation of the issuance model:

  • Understanding the Nervos CKB Issuance Model

  • CKB Economics

Blockchain Explorers

Blockchain explorers offer real-time data on total supply, daily issuance, and other statistics:

• Nervos Explorer: Check circulating supply, block rewards, daily issuance of new CKBytes, and transaction details.

• CKB Node Probe: Provides insights on network status and CKB issuance.

Community and Forums

For specific questions or deeper insights, you can connect with the Nervos community:

• Nervos Talk Forum: A platform for technical and economic discussions.

• Nervos GitHub: To explore the protocol's code and issuance rules directly.

Marketplaces and Supply Data

For current supply and circulation data, you can check crypto tracking platforms:

• CoinMarketCap - Nervos Network

• Coingecko - Nervos Network

These resources will give you access to both the theoretical and real-time data about the daily issuance model and total supply of CKBytes ($CKB).

Always DYOR!