Regarding Circulation of Algos

There have been many questions regarding Algorand’s circulating supply. More detail can be found below, but at the simplest level:

  • There are currently approximately 40 million Algos (as of June 24) that CAN be actively traded on secondary markets.
  • There are approximately 2.5 billion Algos from founders rewards that can participate in consensus, support the protocol, but are NOT traded on secondary markets. Approximately 1 billion are currently online participating in consensus in order to maintain the early stage integrity and security of the Algorand network. The remaining Algos will be brought online as circulating supply grows to continue support of the network.
  • Every day additional tokens are generated from participation and relay node running across the network. These rewards, plus the additional tokens from the Algorand Foundation auctions, means that the total circulating supply will constantly change every day. Official circulating supply numbers can be checked anytime on the AlgoExplorer.
  • The Algorand Foundation has outlined that there is a total supply of 10 billion Algos that will be minted in the genesis block and will take AT LEAST 5 YEARS to distribute and be fully circulating.

There are many other numbers to understand when looking at Algorand’s token dynamics (which are explained at

Breaking this down in more detail:

1. Circulating Supply

The official place to see circulation on the blockchain is the AlgoExplorer. This is updated dynamically and will always show the most up to date information. The AlgoExplorer also shows the number of Algos that are online at any given time.

The circulating supply consists of founders rewards (which are online and supporting the safety of the network), reward tokens which all users are eligible for, relay node running incentives, and Foundation token sales (auctions). As a result, the circulating supply changes every day.

In addition to Foundation token sales, there are currently three ways that Algos enter circulation, these add up to the total you see on AlgoExplorer:

  1. Rewards: Participation rewards accrue to users over time, and are accumulated on a block by block basis. Helpful hint: not all wallets show the accumulated rewards, but you can always see your accumulated rewards by entering your address in AlgoExplorer.
  2. Relay node Incentives: Each day tokens are earned by relay node runners, The Algorand Foundation has clearly outlined and explained these here. Approximately 2 billion of these incentive tokens will enter circulation daily over a two year period. The same number of tokens enters circulation every day.
  3. Algos Held by the Algorand Foundation & Algorand Inc. (2.5 billion):Although they are available to transact with, the Algorand Foundation Algorand Inc. will use these to contribute to the overall governance of the network to ensure stability and responsible decentralization over time due to the nature of the Algorand protocol being Pure Proof-of Stake.

2. Total Supply

The Algorand Foundation has outlined that there is a total supply of 10 billion Algos that will be minted in the genesis block and will take AT LEAST 5 YEARS to be fully circulating:

For a more comprehensive breakdown of token supply, please refer to the Foundation’s token dynamics page.

For the translated version of this article, please visit 关于Algo流通供应量的问题。