MINA is the native token for transacting within Mina Protocol which uses recursive zk-SNARKS to ensure the blockchain network remains the world’s lightest blockchain, about 22kb, the size of a couple of tweets. Participants within the network could be either or both block producers or SNARK producers.

Unlike Bitcoin or other cryptocurrencies with a supply cap per tokenomics, MINA is an inflationary currency with no supply cap. However, it has an initial supply upon launch, which is 1 billion MINA and will be fully unlocked over 8 years since the token distribution date. Block rewards are minted separately from the initial supply, increasing the total supply to 1.5+ billion in 2029. Anyone within the network can stake or delegate their MINA without the risk of bonding or slashing to help protect the network while earning rewards as compensation for their good deeds.

MINA Initial Supply Token Circulation Schedule

See chart showing targeted inflation rate generated every time the network issues block rewards for a coinbase transaction. These rates are subjected to changes as to consensus from the Mina community.

Block-Reward-Schedule-and-Inflation-

The initial supply of 1 billion MINA tokens is distributed according to the following format:

Mina Foundation – 6.0% translating to 60,000,000 MINA

o(1) Labs – 7.5% translating to 75,000,000 MINA

Backers (Investor community) – 20.5% translating to 205,000,000 MINA

Community – 42.3% translating to 423,000,000 MINA

Core contributors – 23.6% translating to 236,000,000 MINA

The Mina Foundation Endowment and O(1) Labs Endowment tokens are scheduled to be delegated to block producers run by community members.

To further help incentivise block producers, Mina Foundation will reward them with extra rewards called Supercharged rewards. Those rewards are assigned to block producers that stake with unlocked tokens during the first 15 months after launch. This will of course be minted and distributed mechanically as programmed into Mina Protocol to pay out extra block rewards via coinbase transactions, whenever a block is produced by an address that does not have any time-locked tokens. According to the schedule displayed below, supercharged Rewards do not exist at the Genesis Block and are only minted by the protocol itself. Summarily, Supercharged Rewards are not a part of the Initial Supply, but are a guaranteed part of Initial Distribution.

 Supercharged_Rewards_Distribution_Table

A key point to note in MINA tokenomics is the difference between the network circulating supply and staking supply. From their nomenclature, as most MINA tokens are time-locked, the Circulating Supply of MINA starts off small, and increases over time. There are factors that influence the MINA circulating supply and they are:

  • When time-locked tokens are unlocked
  • When block rewards are minted, creating new tokens
  • When new distribution categories are proposed and adopted via hard forks

On the other hand, staking supply represents all tokens that are in existence comprising time-locked and unlocked MINA tokens: Indeed, existing tokens are eligible for staking, no matter their lock status. Hence, the staking supply increases only with block rewards and other freshly minted tokens.

MINA staking supply

Check out other resources on Mina Protocol like What is Mina Genesis Founding Program, A collection of Mina Resources, A look into Mina Technical Paper Vol. 1 and more.


Mina Magazine is an independent publication not affiliated to Mina Foundation / O (1) Labs.

Mina Magazine is supported by Openbitlab.

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