For everyone / PKL
Allocation and unlocks
Ten billion PKL, twelve allocations, every cliff and vesting term, and the month-by-month schedule of what could circulate. Insiders hold 25 percent, and that figure is published as the upper bound rather than presented as modest.
Allocation
| Category | Share | PKL | Launch unlock | Cliff | Vesting |
|---|---|---|---|---|---|
| Community and user incentives | 17.0% | 1,700,000,000 | 0% | - | 60 months linear |
| Core contributors | 15.0% | 1,500,000,000 | 0% | 12 months | 36 months linear |
| Builder incentives and grants | 13.0% | 1,300,000,000 | 0% | - | 60 months linear |
| Ecosystem treasury | 12.0% | 1,200,000,000 | 0% | 6 months | 54 months linear |
| Private round investors | 10.0% | 1,000,000,000 | 0% | 12 months | 24 months linear |
| Liquidity incentives | 8.0% | 800,000,000 | 0% | - | 48 months linear |
| Public sale, community round | 5.0% | 500,000,000 | 50% | - | 6 months linear |
| Security, audit and insurance | 5.0% | 500,000,000 | 0% | - | 60 months linear |
| Protocol-owned liquidity | 5.0% | 500,000,000 | 100% | - | - |
| ABX migration, direct | 4.0% | 400,000,000 | 10% | - | 12 months linear |
| Market-making and listing | 4.0% | 400,000,000 | 50% | - | 24 months linear |
| ABX loyalty pool, earned | 2.0% | 200,000,000 | 0% | 12 months | 12 months linear |
| Total | 100.0% | 10,000,000,000 |
Think of the ten billion coins as a pie cut into twelve slices. The biggest slices go to rewarding people who use the chain and people who build on it, and those are handed out slowly over five years. The team and early investors together get a quarter of the pie, and they get nothing at all in the first year. A few slices are available straight away so the coin can be traded and so the community that came from ABX can claim theirs. Nothing is ever added to the pie.
The largest allocations are to the ecosystem: community and user incentives, builder grants, liquidity incentives and the treasury together take 50 percent and vest over four to five years. Core contributors and private-round investors hold 25 percent between them, both behind a twelve-month cliff, so nothing vests to either in year one. The community round receives half its tokens at launch and the rest over six months, while the private round is locked for a year and then vests over two more with nothing liquid at launch, so community buyers are never the exit liquidity for the private round. The ABX community receives 6 percent across a direct migration and an earned loyalty pool.
Launch unlock is the fraction liquid at month zero; cliff is the period before linear vesting begins; vesting is the linear period that follows. The investor allocation was funded from a former strategic reserve, from community incentives and from builder grants, never from the migration. Contributor and investor PKL is non-transferable until vested, with schedules and addresses disclosed. Treasury, incentive and unvested balances cannot vote; investor tokens vote only once vested and staked. There are no PKL emissions to stakers anywhere in this design.
Grouped by who receives it
- 28 percent to users and the ABX community.
- 38 percent to building the ecosystem.
- 25 percent to insiders: 15 percent core contributors and 10 percent private-round investors.
- 9 percent to liquidity and market operations.
Insiders hold 25 percent, published as the upper bound
That figure is published as the upper bound rather than presented as modest. The two rounds are laddered so that community buyers are never the exit liquidity for the private round: the private round is locked for a year and then vests over two more with nothing liquid at launch, while the community round receives half its tokens at launch and the rest over six months. Nothing vests to contributors or investors in year one.
Custody
- The migration sits in an audited Merkle claim contract with a twelve-month window, and unclaimed PKL returns to the treasury.
- Incentive pools sit behind per-epoch caps and timelocks.
- Contributor and investor PKL is non-transferable until vested, with schedules and addresses disclosed.
- Treasury, incentive and unvested balances cannot vote; investor tokens vote only once vested and staked.
The unlock schedule
| Month | Unlocked, could circulate | Share of supply |
|---|---|---|
| M0 | 990M | 9.9% |
| M6 | 1,920M | 19.2% |
| M12 | 2,733M | 27.3% |
| M18 | 3,967M | 39.7% |
| M24 | 5,200M | 52.0% |
| M36 | 7,367M | 73.7% |
| M48 | 9,033M | 90.3% |
| M60 | 10,000M | 100.0% |
Unlocked counts everything that could circulate, including treasury and incentive balances still held in contracts; actual float is lower, and the two are always published together where float is reported, because publishing only the lower one is the standard way a tokenomics table misleads.
On day one 990M PKL is liquid: 250M from the community round, 200M for market-making, 500M of protocol-owned liquidity and 40M released to migration claimants. None of it is insider-held. Unlocked supply rises by 1,683M PKL in the first year, then by 2,467M, 2,167M, 1,666M and 967M in the four that follow; the second and third years, where investor and contributor vesting overlap, are the steepest.
Float, and the buyback against it
Circulating supply rises during the vesting years
Against those unlocks, the modelled combined buyback is denominated in dollars rather than PKL. The conclusion that holds at any plausible price: circulating supply rises during the vesting years, and the buyback offsets a small fraction of that rise rather than reversing it. The whitepaper deliberately assumes no PKL price, so it publishes both sides for a reader who wants to do that arithmetic at a price of their choosing.
The buyback page has the mechanism, and the migration page has how the 6 percent for the ABX community is computed and claimed.