$XPL has a fixed total supply of 10 billion tokens. Allocation is split roughly as 40% Ecosystem and Growth, 25% Team, 25% Investors, and 10% Public Sale. The structure mixes immediate unlocks with long linear vesting to prevent a large circulating supply at launch.
The public sale accounts for 1 billion XPL. Non US buyers receive their tokens fully unlocked at the Plasma public mainnet beta launch. US buyers face a 12 month lockup, with their public sale tokens unlocking fully on July 28, 2026.
The Ecosystem and Growth allocation totals 4 billion XPL. About 8 to 20% of this bucket unlocks at or near mainnet beta. The remaining portion, roughly 32% of total supply, vests monthly over three years from the public mainnet beta. This creates a steady monthly increase in circulating supply until the three year mark.
Team and investor allocations together make up 5 billion XPL. Both follow the same structure. A one year cliff from mainnet beta, followed by two years of monthly linear vesting. All team and investor tokens are fully unlocked three years after mainnet beta.
At present, roughly 20 to 21% of total supply is unlocked. About 2.07 billion XPL is circulating, while 7.93 billion XPL remains locked. Some trackers flag a future unlock of around 1.67 billion XPL, or 16 to 17% of total supply, tied mainly to ecosystem and vested allocations. Events of this size could cause short term market pressure.
Specific unlocks are also tracked. For example, 88.89 million XPL unlocked on November 25, about 0.89% of total supply, allocated entirely to ecosystem growth.
In addition to vesting, XPL has validator reward emissions and a fee burn mechanism. Base transaction fees are burned, similar to EIP 1559, helping offset inflation from rewards. Any changes to emissions require validator governance approval.
