CORE Token

CORE is the utility and governance token of the Core network. Its abilities include, but are not limited to:

  • Paying for transaction/gas;

  • Staking on the Core network;

  • Participating in on-chain Core network governance;

Sound Supply

Following Bitcoin’s example, CORE’s supply has a hard cap of 2.1 billion tokens. On top of the hard cap, a percentage of all block rewards and transaction fees will be burned in a manner similar to Ethereum’s “Ultra Sound Money” model [12]. The exact percentage burned will be determined by the DAO. In effect, the total number of CORE tokens will asymptotically approach, but never fully reach, the hard cap of 2.1 billion.

CORE Emissions

The block rewards of CORE tokens will be paid out over an 81-year period. This longer period increases the likelihood of success by properly incentivizing all network participants before the network eventually transitions to compensation transaction fees alone.

The CORE block reward can also be thought of as a way for Bitcoin miners to supplement their income. It’s well known that the Bitcoin block rewards will stop altogether around 2140, at which point a combination of transaction fees and payouts from networks like Core Chain will help incentivize the miners to continue their work. But the hard ratchet of Bitcoin’s monetary policy – particularly its halvings – will likely make such payouts necessary long before then. By becoming validators on the Core network and delegating their existing hash power, Bitcoin miners can be paid from both Bitcoin transactions and CORE token rewards.

[12] This refers to a popular understanding of Ethereum after its merge and after EIP1559, in which Ethereum is deflationary on net.

Last updated