Kaspa pays its miners about 1.9 million KAS a day in new coins, derived from the remaining supply and the fixed halving schedule. That reward halves every twelve months and never restarts, because the supply is capped with no tail emission. So over time, security has to be paid for by something other than new coins, mainly transaction fees. How large fees are today, we count on this page every week. What happens next is the most legitimate open question about every capped chain, Bitcoin included, and we treat it as exactly that, an open question with countable inputs.
A miner's income has exactly two sources, and it helps to keep them apart, because they behave in opposite ways.
| Source | How it behaves |
|---|---|
| New coins | about 1.9 million KAS a day, as of late august. fixed schedule, halves every twelve months in small monthly steps, ends when the last unit is mined. this is the overwhelming share of miner income today, the exact split is printed below, and it is the part that is guaranteed to shrink |
| Fees | whatever users actually pay to transact. no schedule, no cap, no guarantee. today this is a rounding error next to the reward, we publish the exact count below. it is also the only source that can grow |
The shape of the problem follows directly. The guaranteed part shrinks on a timetable, the open part has to grow into its place. That is not a flaw someone discovered, it is the explicit design of every capped supply chain. Kaspa just runs the timetable faster than Bitcoin, a halving every year instead of every four.
Kaspa's reward does not drop in one cliff per year. It shrinks a little every month, twelve small steps that multiply to exactly one half per year. From the coins still unmined, the schedule pins down everything else. As of 28 August 2026, 1,036,420,062 KAS remain. Because each year emits half of what is left, the coming twelve months emit about 518 million KAS. At that date it runs at about 1.9 million KAS a day, about 2.2 KAS per block at ten blocks a second, and the daily rate itself declines a little every month. One year after that date the daily figure is roughly half. Two years after it, a quarter. 99% of all KAS will exist by May 2028, and the tail thins out until the reward falls below the smallest unit, decades away. There is no tail emission, no restart, no council that can change it without a hard fork that holders would have to accept.
So, can Kaspa pay for its own security once the reward is small? Here is what can be said honestly today, in three parts.
First, what is countable. Fees today cover about 0.06% of miner income, roughly 1,190 KAS on the last full day against about 1.9 million in new coins. Put plainly, almost the entire security budget is still paid by new coins, and fees are close to nothing so far. We print the number below and update it weekly. Anyone who tells you the fee market is already carrying the chain has not counted. Anyone who tells you it never will is predicting, and predictions are not what this site does.
Second, what would have to happen. For fees to replace the reward, usage has to grow while the reward shrinks. The Toccata hard fork is relevant here for one sober reason. Covenant transactions carry compute budgets and runtime pricing, which means more complex activity pays more than simple transfers. More things the chain can do, more reasons to pay fees. Whether that happens is exactly what our weekly counts are for.
Third, what else is on the table. Merged mining lets other chains pay Kaspa's miners for security they already produce, which would add a third income source that is neither emission nor Kaspa fees. It exists as a mechanism, its contribution today is small, and we treat it the same way as fees, as something to count rather than to promise.
A chain's security budget is what it pays miners to secure it, in new coins plus transaction fees. Kaspa pays miners about 1.9 million KAS a day in new coins, derived from the roughly 1.04 billion KAS still unmined as of late August 2026 and the fixed schedule that halves the reward every twelve months. Fees add a small amount on top, which Kaspa Pulse counts weekly on the chain.
No. Kaspa's supply is capped at about 28.7 billion KAS and the emission schedule halves every year in small monthly steps until the reward falls below the smallest unit, decades away. There is no tail emission that keeps paying miners afterwards. Long term security therefore has to come from transaction fees, and potentially from merged mining income, rather than from new coins.
There is no hard end date. Because the reward halves every year, each year adds half of what is left. 99% of all KAS will exist by May 2028, and the remaining tail thins out over decades until the reward drops below the smallest unit. The often repeated sentence that mining ends in 2028 is wrong in both directions. Most of the emission is already finished today, and formally the schedule runs for decades.
That is an open question, and the honest answer has three parts. Today, fees cover only a very small share of miner income, which Kaspa Pulse counts weekly. For fees to replace the shrinking reward, usage has to grow, which is what the Toccata programmability upgrade makes possible but does not guarantee. And merged mining could add a third income source by letting other chains pay Kaspa miners. Bitcoin faces the same question on a slower clock, and it is unresolved there too.
As of late August 2026 the reward is about 2.2 KAS per block at ten blocks per second, which is about 1.9 million KAS per day. The figure is derived from the remaining unmined supply and the fixed halving schedule, so anyone can recompute it. It shrinks a little every month, twelve steps that multiply to exactly one half per year.
follow kaspa pulse