Kaspa (KAS) Exchange

About Kaspa

KAS is the native coin of Kaspa, a proof-of-work blockDAG blockchain built on the GHOSTDAG consensus protocol. Miners compete to produce blocks and earn KAS through PoW rewards — not through staking, governance participation, or protocol fees. Kaspa launched in November 2021 with no premine, no ICO, and no insider allocation: every KAS in circulation was mined openly from genesis.

KAS tokenomics

Kaspa uses a hard-capped, deflationary supply model with a smooth monthly emission reduction rather than Bitcoin's four-year halving cycle. Approximately 27.78 billion KAS — about 96.8% of the 28.7 billion cap — had been mined as of October 2026, according to CoinGecko. The Crescendo hard fork (May 5, 2025) increased the block rate from 1 to 10 blocks per second while preserving the per-second emission rate, reducing the per-block reward proportionally.
Hard cap — 28.7 billion KAS; fixed in the protocol with no mechanism for additional issuance
Circulating supply — approximately 27.78 billion KAS as of October 2026, according to CoinGecko; about 96.8% of total supply already mined
“Chromatic” emission schedule — block reward decreases every month by a factor of (1/2)^(1/12), producing one full halving per year in gradual steps rather than an abrupt cut
Current per-second reward — approximately 27.5 KAS per second as of May–June 2026; declining continuously on schedule
Supply completion — approximately 95% of all KAS was projected to be mined by July 10, 2026, according to Kaspa's official emission schedule
No allocations — no team reserve, no investor vesting, no foundation pool; all supply enters circulation through mining exclusively
Smallest unit — sompi, equivalent to Bitcoin's satoshi; reward schedule takes approximately 36 years to fall below 1 sompi

What determines KAS's value

KAS's primary demand driver is supply compression: with over 95% of the total supply already mined and the monthly emission reduction schedule running continuously, the rate of new KAS entering circulation decreases every 30 days. Miners currently receive approximately 27.5 KAS per second — a figure that contracts month-on-month — which structurally reduces sell-side issuance pressure over time without a sudden halving shock that could destabilise miner economics.

The secondary driver is throughput growth. Kaspa's Crescendo hard fork in May 2025 raised the block rate to 10 blocks per second, positioning it as the highest-throughput PoW network by BPS. The roadmap targets 32 BPS and ultimately 100 BPS through the DagKnight protocol upgrade and a Rust rewrite of the core codebase — milestones that expand the network's capacity for payment volume and future smart contract activity. Each upgrade confirmed on schedule reinforces the technical thesis that underpins kaspa exchange demand among PoW-focused holders.