Transparency request — where's the 30% premine actually at, before Council takeover?

[0xhra]

G’day all,

With the Tari Council about to take the reins, reckon now’s the time to get some hard numbers on the table about premine distribution — before it gets murkier to trace down the track.

Per the official tokenomics page ( Tari / Tokenomics ), here’s what’s documented:

Premine: 6.3 billion XTM total = 30% of total supply, broken down as:

• Community — 5%: unlocks monthly over 12 months, starting 6 months post-mainnet
• Protocol Infrastructure & Grants — 9%: 40% of this bucket (756 million XTM) was available upfront at launch for protocol liquidity; the rest unlocks monthly over 4 years, starting 6 months post-launch
• Contributors — 4%: unlocks monthly over 5 years, starting 12 months post-launch
• Participants — 12%: early supporters/investors, unlocks monthly over 2 years, starting 12 months post-launch

Total supply target: 21 billion XTM, emitted via exponential decay over roughly 27.8 years, then a perpetual 1% tail emission kicks in indefinitely.

What I (and I reckon a fair few others) want

1. Exact XTM amount already unlocked/distrib four premine buckets, not just thepercentages.
2. Whether unlock/vesting events are publishard, quarterly report) that the community can cross-check against total circulating supply figures.
3. Whether any of the “upfront” 756M protocoen deployed, and a general description of where (exchanges, LPs, treasury, etc.).
4. What changes (if any) to premine custody,re planned once the Council takes over.
5. A public commitment to keep publishing unlock data post-handover, on a regular schedule, not just a one-off snapshot.

Not trying to start a witch hunt here — just a board or regular report on premine unlocks isn’t too much to ask, especially with a governance handover on the cards. Happy to be corrected if this info’s already out there and I’ve missed it.

Cheers.

[Alex]

That’s a good initiative!

One thing I’m especially curious about is the Contributor’s allocation.

The Tari / Tokenomics page says: “For over six years, contributors have developed meaningful innovations and made substantial efforts to build the Tari protocol from the ground up. 4% of the initial XTM supply is being set aside to reward people for their contributions to the development of the Tari network.”

This all sounds very past tense. So the whole allocation goes to the people who have coded at Tari Labs in the past? Or is there any allocation left over for future developments?

[blackwolfsa]

Here are all the genesis block utxos:

base_layer/core/src/blocks/pre_mine/mainnet_pre_mine.json

They all have reveal value proofs on them, so you can check the values. Their lock heights are also publicly visible.
Some of the funds were spent at genesis to new lock height funds, but you can see those in the genesis blocks.

You can check this your self, and verify by running a base node and checking which ones where spent.

[0xhra]

I pulled the actual mainnet_pre_mine.json from the tari-project/tari repo (development branch) and cross-checked it against a live, currently-synced Tari node to verify current spent/unspent status. A few corrections and additions to what’s public:

Total genesis pre-mine: 6,300,000,000 XTM across 421 original outputs, all with revealed-value range proofs (publicly auditable amounts).

The file itself documents 253 of those outputs (262,525,385 XTM) as already spent — restructured on-chain into 253 new outputs that use confidential Bulletproof+ range proofs. So one correction to the “you can check the values” premise: once an output goes through that restructuring, its new value is no longer publicly visible — only the new lock height is.

But checking live chain state directly (individually verifying all 421 original outputs against the current UTXO set, not just relying on the repo’s own audit trail) turns up more:

• 126 outputs (4,269,493,902.67 XTM) are still genuinely unspent today.
• 295 outputs (2,030,506,097.33 XTM) have been spent, total.
• Of that spent total, only 253 (262,525,385 XTM) are documented in the repo’s own embedded spend records.
• 42 outputs, worth 1,767,980,712.33 XTM, have already been spent on live mainnet but are NOT recorded anywhere in that repo file.

That undocumented 1.77B includes the entire immediate 756,000,000 XTM “protocol” upfront-release tranche (maturity 0 — spendable from genesis day one) plus a run of subsequent maturities (129,600 / 151,515 / 173,430 / 195,345 / 217,260 / 239,175 / 261,090 / 262,800 / 283,005 / 284,715) that have matured and been claimed since.

So roughly 32% of the total pre-mine (2.03B of 6.3B) has moved, but the repo’s own paper trail only accounts for about 13% of that — the rest happened live on-chain with no corresponding record checked into the source file.

Happy to share the raw commitment lists (still-unspent 126, or the undocumented-spend 42) if useful for verification.

So now we know the total spent is around 2b. Can we get more details about how much of this 2b was spent and how much is in the treasury

[0xhra]

made a repo : GitHub - chironbuilds/tari-premine-audit: Reconciliation audit: mainnet_pre_mine.json vs live chain state for the Tari genesis pre-mine · GitHub

If the community wants it to be updated. I can update it once a month.

[blackwolfsa]

@0xhra

The file itself documents 253 of those outputs (262,525,385 XTM) as already spent — restructured on-chain into 253 new outputs that use confidential Bulletproof+ range proofs. So one correction to the “you can check the values” premise: once an output goes through that restructuring, its new value is no longer publicly visible — only the new lock height is.

Those 253 went to individuals, hence, the now private BP+, but for tax reasons, it was sent before launch, but it’s still locked using the correct lock cycle.