Tokenomics
The whole supply of L2P is fixed at genesis. There is no mint function anyone can call, no inflation switch and no way to create a coin that was not accounted for on day one.
Total supply: 164,745,000,010 L2P.
Every coin that will ever exist was written into the first block of the chain, at a known address. The largest share, by a wide margin, pays the validators that secure it.
Where the supply goes
| Allocation | Share | L2P | Address |
|---|---|---|---|
| Validator and staking emissions | 30.35% | 50,000,000,000 | 0x0000000000000000000000000000000000001000 |
| Future public distribution | 17.60% | 29,000,000,000 | 0x9dcf2B6c2e4D7B19A0E01f2567a5016eA8d2b64c |
| Ecosystem and grants | 15.17% | 25,000,000,000 | 0xfF92dEFc41bf0e35Af7370Af381dE797f4e89133 |
| Team, vesting annually | 15.17% | 25,000,000,000 | 0x5Cf2362A30CDc47006Af86A0555e968687C7522d |
| Treasury and reserve | 9.10% | 15,000,000,000 | 0x0894Dd24ECf50eA464E1cEb13443bCcC9684D314 |
| Liquidity, phased | 6.07% | 10,000,000,000 | 0xd96092d82E601457b4f215F9F8eabd75AF63b4B6 |
| Presale | 4.55% | 7,500,000,000 | 0xea9277800E88D8fd8292197d2235DDbf8A3Ab1B0 |
| Advisors | 1.94% | 3,200,000,000 | 0x2f7D41e6E260C8F3c2D9393713032CE2C45Ef1cd |
| Validator 1 | 0.005% | 8,000,000 | 0xaE11fB1F89C83c3AD49636A283732A3692dE76f9 |
| Validator 2 | 0.005% | 8,000,000 | 0x98803ED812D591B5dcc319652645036B6ca32d1B |
| Validator 3 | 0.005% | 8,000,000 | 0xDa209d1508a1680Be75751d0a9923d74997D90F2 |
| Reserve | 0.01% | 21,000,010 | 0x63Ae79C826b9FD64cd5D59520987A062240240D3 |
What each allocation is for
Validator and staking emissions, 50 billion. The largest slice, and it is not held by anyone. It sits in the validator set contract and is paid out block by block to the validators securing the chain, and through them to the people who delegate. It is released over ten years on a schedule the contract enforces. See The emission schedule.
Future public distribution, 29 billion. Reserved for distribution later. It is not circulating and it is not being sold into the market today.
Ecosystem and grants, 25 billion. For the projects, tools and integrations built on the chain. This is what pays for the chain being worth using rather than merely existing.
Team, 25 billion. Vesting annually rather than unlocking at once, so the people building this are paid over the years they keep building it.
Treasury and reserve, 15 billion. Working capital, and a buffer for what nobody planned for.
Liquidity, 10 billion. Phased in rather than deployed in one go, so that trading L2P is possible without a single deployment setting the price on its own.
Presale, 7.5 billion. Deliberately modest for a chain of this size. It keeps the share sold early low, and it means the project is not funded mainly by the people least able to judge the risk.
Advisors, 3.2 billion. For the people advising the project.
The three validators, 8 million each. The validators the chain started with, funded so they could meet the seven million self delegation a validator needs to run at all. Together they are five thousandths of a percent of the supply.
Reserve, 21 million. The operational float that paid for setting the chain up.
Check it yourself
This is the part that matters more than the table. Every allocation is an address on a public chain, so you do not have to believe any of it: open the links above and read the balances.
A caution about what you will see. A balance today is not the allocation, because coins move. The three validators have most of theirs staked, so their balances look small while the stake sits in the staking contracts. The treasury and the reserve have spent some on running the chain. That is the difference between what an address received at genesis and what it happens to hold this afternoon, and both are true at once.
What cannot change is the total. If you add up every coin on the chain, it comes to the number at the top of this page, today and in twenty years.
What "fixed supply" does and does not mean
It does not mean the number goes down. The fee burn moves coins to an address nobody controls, permanently out of circulation, but they are still counted in the total supply figure. Fee burn explains the mechanism and Questions about the burn is honest about the bookkeeping.
It does not mean everything is circulating. Most of the supply starts locked, vesting or held in a contract. Emissions arrive over ten years, team coins vest annually, the public distribution is reserved and liquidity is phased. What circulates today is a fraction of the total, and it grows on schedules rather than on decisions.
It does mean nobody can print more. The allocations were written into the genesis state. There is no governance parameter that raises the total, and no key that mints.
Reading these numbers honestly
A percentage of a supply tells you nothing about a price. It tells you how the coins are divided and roughly when they arrive, which is what you need in order to think about the rest for yourself.
The two figures worth watching are the emissions, which are on a public schedule anyone can check block by block, and the burn, which runs against them and is driven by how much the chain is actually used. Both are visible on-chain, and neither depends on anyone keeping a promise.