Fair-Launch Tokenomics: Minted Emission Without a Premine

Most chains pay their block subsidy out of a finite premined treasury — which both concentrates genesis supply and eventually runs dry. Anemos does neither.

No premine, no treasury balance

The inherited design premined coins to insider accounts plus a large treasury and paid the subsidy from it. Anemos replaces this with a fair launch: the Treasury address is a zero-balance sentinel that exists only as a minting source. The block subsidy is minted — credited to recipients with no sender debit — so there is no premine to draw down and no insider allocation.

A minted emission curve with a perpetual tail

The per-block reward follows a smooth geometric decay (a Kaspa-style “chromatic halving” in monthly steps) from an initial reward toward a small perpetual tail. The tail matters: without it, reserve and yield funding would trend to zero as emission tapers. Because emission is a pure function of block height, it stays deterministic across every node. There is no supply cap — the tail is the deliberate, sustainable alternative.

Splitting the reward: proposer + reserve

Each block’s reward splits between (a) the proposer (and, under delegation, the delegate owner’s share) and (b) the stablecoin reserve. Crucially, the reserve slice is not a fixed cut — it is health-dependent, routed by the collateral-ratio EMA: build the buffer at a base rate in the comfort band, taper toward zero as the ratio weakens, and divert surplus to stablecoin-holder interest only when the system is strongly overcollateralized. A hard floor guarantees the proposer always keeps a majority of every block, so emission can never starve validators below BFT liveness.

Conservation, proven

Per-block conservation — total ANM increases by exactly the schedule reward R(h), regardless of the transaction mix or delegation state — is proven in the whitepaper and checked in consensus. Fees are net-neutral: re-minted to the proposer, never destroyed or double-counted. Genesis itself is a fair bootstrap distribution with the parameters frozen into the genesis hash and validated at node startup.