Skip to content

Emission#

What is the Emission Schedule?#

Ergo has a maximum supply of 97,739,925 Ergs, to be completed by 2045. The block reward lowers to 3 ERG in 2026. You can see a graph of this emission schedule on ergo.watch

When was Ergo launched?#

Mainnet July 2019. Before this, graphs are often conflated with the 'Ergo-First-Year-Token'.

What is EFYT?#

Ergo-First-Year-Token was airdropped and distributed on Waves DEX, starting with a 100,000 EFYT airdrop in May 2017. EFYT served the dual purposes of helping build an early community of stakeholders and enthusiasts for Ergo and raising a small number of funds for the platform before launch to fund development, promotion, etc. EFYT is strictly a Waves token and is not the same as an Erg; the Ergo mainnet native token is mined after Ergo's mainnet launch.

The max supply of EFYT is 1,970,945.0. This is 10% of the first year of Ergo token emission and the same number of Ergs that the Treasury will receive, meaning that the Treasury will have received 1,970,945.0 Ergs during year 1, sufficient to swap the max supply of EFYT for Erg.

Why 97,739,924?#

A pre-agreed smart contract controls emission in Ergo, so we tried to have a simple enough emission curve with the total limited supply being close to 100M (and emission to be done in 8-10 years).

The max supply is simply the amount needed to create the initial genesis state:

  • A box with proof-of-no-premine (1 ERG)
  • Foundation treasury (4,330,791.5 ERG)
  • Miner Reward Box with the required ERG for 2,080,800 Blocks according to the emission schedule until rewards equal 0 and storage rent and EIP-27-reemission-box takes over (93,409,132 ERG).

The treasury box is protected by a vesting smart contract that ensures an initial unlocked amount and then only releases an amount of ERG that provides funds for 2.5 years (never exceeding 10% of the circulating supply). All of this results in these specific amounts.

In total, this happens to be 97,739,924.5 ERG.

For proof-of-no-premine, the pre-genesis state in Ergo contains block hashes from Bitcoin and Eth and also headlines from the Guardian, Vedomosti and Xinhua around the moment of launch, which can be seen in mainnet.conf

  /**
    * Genesis box that contains proofs of no premine.
    * It is a long-living box with special bytes in registers
    */
  private def noPremineBox(chainSettings: ChainSettings): ErgoBox = {
    val proofsBytes = chainSettings.noPremineProof.map(b => ByteArrayConstant(b.getBytes("UTF-8")))
    val proofs = ErgoBox.nonMandatoryRegisters.zip(proofsBytes).toMap
    createGenesisBox(EmissionRules.CoinsInOneErgo, Constants.FalseLeaf, Seq.empty, proofs)
  }

 {
"boxId": "b8ce8cfe331e5eadfb0783bdc375c94413433f65e1e45857d71550d42e4d83bd",
"value": 1000000000,
"ergoTree": "10010100d17300",
"assets": [],
"creationHeight": 0,
"additionalRegisters": {
  "R5": "0e42307864303761393732393334363864393133326335613261646162326535326132333030396536373938363038653437623064323632336337653365393233343633",
  "R6": "0e464272657869743a20626f746820546f727920736964657320706c617920646f776e207269736b206f66206e6f2d6465616c20616674657220627573696e65737320616c61726d",
  "R8": "0e45d094d0b8d0b2d0b8d0b4d0b5d0bdd0b4d18b20d0a7d0a2d09fd09720d0b2d18bd180d0b0d181d182d183d18220d0bdd0b02033332520d0bdd0b020d0b0d0bad186d0b8d18e",
  "R7": "0e54e8bfb0e8af84efbc9ae5b9b3e8a1a1e38081e68c81e7bbade38081e58c85e5aeb9e28094e28094e696b0e697b6e4bba3e5ba94e5afb9e585a8e79083e58c96e68c91e68898e79a84e4b8ade59bbde4b98be98193",
  "R4": "0e4030303030303030303030303030303030303031346332653265376533336435316165376536366636636362363934326333343337313237623336633333373437"
}

The code for the emission schedule can be found here

What is the Ergo Foundation?#

The Ergo Foundation is a community-driven entity focused on:

  • Promoting non-breaking development of Ergo Platform protocol;
  • Promoting the widespread adoption and use of Ergo Platform and its native token (ERG);
  • Developing the ecosystem around the Ergo Platform;
  • Promoting the use of Ergo Platform and blockchain technology for social good;
  • Supporting truly decentralised infrastructure and;
  • Supporting privacy as a basic human right.

To fund development, promotion, events, and any other activities which may advance the platform, Ergo has in place a Treasury, which will receive 4.43% of the Ergs released during emission. During the first two years post‐mainnet launch, the Treasury received 7.5 Ergs per block.