Nervos Network

CKB launched in November 2019 at about $0.009. The coin didn’t trade above a full cent – indeed, it fell to lows of $0.002 in March 2020 – until the crypto boom of 2021, when CKB reached highs of $0.043 in March of that year, and a market capitalization of $1 billion.

The coin crashed along with the rest of the crypto market in the summer and had fallen back to $0.009 by July 2021. A second wave in the autumn brought CKB to $0.034 in November, and again a market cap of about $1 billion, but the market for the coin withered away shortly thereafter. It continued to fall, and by June 2022, had slumped to $0.004.

Nervos launched with a supply of 33.6 billion CKB. It burned 25% of these immediately, so the total supply at launch was 25.2 billion CKB.

This initial supply included the approximately 7 billion CKB that Nervos sold to investors in its $72 million November 2019 public initial coin offering (ICO). It also includes two-thirds of the 14% sold to private ICO investors, a third of the 15% given to the team, and less than 1% allocated as testnet incentives. The rest, including 5% for the founding team, and 19.5% was reserved for developing the ecosystem.

Another 33.6 billion CKB will be issued as mining rewards. The amount issued halves every four years. The network will issue 16.8 billion tokens in the first four years until late 2023. Half of what remains will be issued in the following four years, and so on, until the network has run out of coins from the primary issuance – similar to Bitcoin’s issuance model.

A secondary, constant issuance of 1.344 billion tokens per year will persist indefinitely – this is generated by collecting rent for storage space on the blockchain. The funds will go to miners, long-term holders and, eventually, a treasury fund for the protocol’s DAO.