Kaspa Halving & Emission Schedule Explained (2025-2030)

Kaspa has no halving — at least not in the way Bitcoin does. Instead, it uses a smooth, disinflationary emission schedule that reduces new issuance every single month. Here's exactly how it works and what to expect between now and the end of emission.

Updated 2026 · ~4 min read

One of the most common questions new Kaspa users ask is, "When is the next Kaspa halving?" The short answer is that Kaspa doesn't have one. Kaspa's developers deliberately chose a different monetary model: instead of sudden halvings every four years, Kaspa's block reward declines continuously through monthly reduction steps. This creates a smoother supply curve and avoids the sharp, event-driven shocks that Bitcoin experiences.

No Halving: How Kaspa's Emission Actually Works

Bitcoin's halving cuts the block reward by 50% every 210,000 blocks, roughly every four years. It's a sudden, dramatic event that reshapes miner economics overnight. Kaspa takes a fundamentally different approach: it uses a geometric, disinflationary emission schedule in which the block reward decreases by a fixed fraction on a monthly basis.

The current phase of this schedule is called the Chromatic phase, launched in May 2024. Under Chromatic, the monthly emission rate is reduced by a factor of 1/256 per month. In practical terms, that means each month's new issuance is slightly lower than the month before — a gentle, predictable downward slope rather than a cliff.

Because the block reward adjusts monthly according to the emission schedule, miners always know exactly how much KAS will be issued in the future. There are no surprises, no countdown clocks, and no sudden drops. This is one of the design choices that makes Kaspa's tokenomics distinctive and, for many, more predictable than Bitcoin's.

The Kaspa Emission Timeline (2024-2031)

The supply picture is already very advanced. By mid-2026, roughly 96% of all KAS will have been mined, leaving only a thin sliver of new coins to be emitted over the following years. Emission then winds down gradually until it reaches zero around 2031.

The August 2026 block reward adjustment is worth highlighting because it arrives right around the time the network crosses the 96% mark. As emission continues its monthly step-down, each adjustment further reduces the amount of new KAS entering circulation — reinforcing the disinflationary trend as the network approaches its final supply cap.

Kaspa vs. Bitcoin: Two Different Monetary Models

The contrast between Kaspa and Bitcoin comes down to discreteness versus smoothness. Bitcoin's halving is a discrete, high-visibility event that recurs every four years and can trigger volatility, miner capitulation, and intense speculation. Kaspa, by contrast, distributes its supply reduction evenly across time.

• Bitcoin: block reward halves every ~4 years; final halvings approach zero around 2140; max supply 21 million BTC.
• Kaspa: block reward reduces monthly by a fixed factor; emission tapers to near zero around 2031; max supply 28.7 billion KAS.

Kaspa's faster emission curve is intentional. It front-loads supply to miners in the early years — securing the network and distributing coins widely — and then tapers off rapidly. By 2031, Kaspa will have a fully capped supply with zero ongoing inflation, whereas Bitcoin's final coins will continue trickling out for over a century more.

Is Kaspa Inflationary or Deflationary?

Kaspa is best described as disinflationary: its issuance rate steadily declines on a fixed schedule until it reaches zero. Once emission tapers to near zero around 2031, the network becomes non-inflationary — no new KAS will ever be created, and the supply becomes permanently capped at 28.7 billion.

For miners and investors, this matters. As the monthly reduction steps continue through 2025, 2026, and beyond, each new KAS becomes progressively scarcer. By understanding the emission schedule, you can plan around a supply curve that is fully transparent from day one — no halving speculation required.