Cardano Monetary Policy
Disclaimer: The actual number of Ada Vouchers sold will be updated after the Sale ends. The numbers shared in this document will be updated when actual number has been finalized.
There will never be more than 45,000,000,000 ADA
Ada Available at the Launch of the Cardano Protocol
Although the actual number of Ada Vouchers sold will be determined after the Ada Sale ends, 25,016,796,935 Ada Vouchers are planned to be sold. After the Ada Sale ends, an amount equal to 20% of the Ada Vouchers sold during the Sale period, or 5,003,359,387 Ada Vouchers, will be generated and distributed to three entities of the Cardano ecosystem that are part of the Technical and Business Development Pool: IOHK, CGG Limited and the Cardano Foundation. The total amount of Ada available at Launch will therefore be equal to 30,020,156,322 ADA.
Ada to Be Issued During the Operation of the Cardano Protocol
Because there will never be more than 45,000,000,000 ADA ever issued, an additional 14,979,843,678 ADA (approximately 33% of the total amount of Ada to ever exist) will be issued gradually for the operation of the Protocol.
The block rewards will be introduced into the Cardano Protocol 20 epochs (approximately 3.5 months) after its Launch and the rate of issuance of Ada will be follow the schedule below:
- 2,000 ADA per block for the initial 3,744,961 blocks,
- 1,000 ADA per block for the subsequent 3,744,961 blocks,
- 500 ADA per block for the subsequent 3,744,961 blocks,
- and so on and so forth, in such a way that the ADA per block will be halved every 3,744,961 blocks.
Given that 3 new blocks will be generated every minute, 99.95% of the additional 14,979,843,678 ADA necessary to reach the 45,000,000,000 ADA will be issued in approximately 24 years.
Of the ADA that will be issued per block:
- 75% of it will be given to the protocol participants as a block reward.
- 25% of it will be directed to a special address that is earmarked for the Cardano Treasury, from which developers and ecosystem participants could request the funding of their projects, and the stakeholders of the system would vote to approve or reject their proposals. (The mechanism by which the Cardano Treasury will operate will not be available at the launch of Cardano but the mechanism and its implementation are currently under research and development.)