Aztec (AZTEC)
Unlock Schedule
Aztec (AZTEC) Token Unlock & Vesting Schedule
The chart shows gross modeled releases of every allocation: vesting unlocks, new issuance and reserve distributions, each allocation counted once. These have different meanings; a scheduled release is not evidence that tokens entered circulation or were sold. Review the coverage, sources and assumptions below.
Each color segment in the chart corresponds to a specific allocation group described in the Allocations section below. Underlying assumptions and data models used to reconstruct this schedule are explained in detail under Assumptions, while broader utility insights and token use cases are covered in Tokenomics & Utility.
Tokenomics & Utility
Supply, fees, and network rewards
AZTEC is an ERC-20 token on Ethereum. Its documented initial supply is 10.35 billion tokens. The token has three main roles: it supports staking for block production, gives holders a route into governance, and provides the asset used to fund transaction fees. Aztec’s 2025 open auction offered up to 1.547 billion tokens, or about 14.95% of the initial supply. (docs.aztec.network)
Fees use an Aztec network balance called Fee Juice. A user deposits AZTEC from Ethereum into a portal and receives Fee Juice on Aztec at a one-to-one rate. Fee Juice pays for transactions; it cannot be transferred between Aztec accounts or withdrawn by a user back to Ethereum. Applications can also arrange to pay a user’s fee through a fee-paying contract. (docs.aztec.network)
Sequencers stake AZTEC to become eligible to help produce blocks. Token holders can also delegate stake to an operator. Network rewards are shared between sequencers and provers, with 70% of checkpoint rewards assigned to sequencers and 30% to provers under the documented reward design. Tokens set aside for these rewards enter circulation as participants earn them. Governance can adjust reward parameters, while the protocol places a cap on later token issuance. (docs.aztec.network)
Governance gives the token a further purpose. Eligible holders can vote on proposals concerning upgrades and network settings. Aztec uses a staged process in which block producers first signal support for a proposal and token holders then vote. (docs.aztec.network)
Assumptions
Aztec created 10.35 billion tokens in November 2025 and assigned them to sales, a liquidity pool, grants, incentives, network rewards, the Foundation, investors and the team. The pool became tradeable at the February 2026 TGE; investor tokens have a modeled two-year gradual unlock after a one-year lock, while team releases also depend on milestones. Exact sale quantities unlocked, grant payments and network-reward flows remain unresolved, so those budgets are listed without invented monthly payments. The chart can show the initial creation and supported dated unlocks, with the investor monthly curve clearly labeled as an estimate.
- Genesis Sequencer Sale — 1.93% of initial supply: Releases depend on recipients claiming tokens or on grants being awarded.
- Open Auction — 14.95% of initial supply: The sources give the amount but no release dates.
- Reserved bilateral sales — 2.44% of initial supply: Releases depend on future governance or treasury decisions.
- Ecosystem Grants — 10.73% of initial supply: Releases depend on recipients claiming tokens or on grants being awarded.
- Ecosystem grants reported as awarded: The sources give the amount but no release dates.
- Ecosystem grants reported as assigned but undistributed: Releases depend on recipients claiming tokens or on grants being awarded.
- Ecosystem grants reported as remaining in pool: Releases depend on future governance or treasury decisions.
- Future Incentives — 4.88% of initial supply: Releases depend on future governance or treasury decisions.
- PoS sequencer, prover and validator-set rewards — 2.41% initial reserve: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Aztec Foundation — 11.71% of initial supply: Releases depend on future governance or treasury decisions.
- Core team — 21.06% of initial supply: Releases depend on recipients claiming tokens or on grants being awarded.
- 1. https://aztec.network/auction-terms-conditions
- 2. https://github.com/AztecProtocol/circulating-supply-api
- 3. https://docs.aztec.network/participate/token
- 4. https://docs.aztec.network/participate/token/economics
- 5. https://aztec.network/blog/the-aztec-tge-vote-what-you-need-to-know
- 6. https://aztec.network/blog/aztec-ignition-chain-update
- 7. https://forum.aztec.network/t/reference-for-triggering-the-aztec-token-generation-event-tge/8366
- 8. https://docs.aztec.network/operate/operators/concepts/slashing
- 9. https://forum.aztec.network/t/aztec-nm-delegation-rewards-incident-post-mortem-7-2-26/8500
- 10. https://forum.aztec.network/t/alpha-upgrade-is-ready-for-proposal/8511
- 11. https://forum.aztec.network/t/introducing-the-flush-rewarder-incentivizing-validator-set-maintenance/8287
- 12. https://forum.aztec.network/t/proposal-allocate-remaining-ecosystem-grants-to-community-contributors-operator-roles-and-testnet-validators/8465
- 13. https://aztec.network/genesis-terms-conditions
Allocations
Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.
Not yet scheduled: 4,536,844,792.86 tokens of its parts have no release date yet. The chart shows them as TBD from today, not as unlocked.
Description
#477
Aztec is a privacy-focused blockchain protocol that leverages zero-knowledge proofs to enable private transactions on the Ethereum network. It aims to provide users with high-level privacy for their transactions, making financial activities on Ethereum secure and confidential.
| Sector: | Layer 2 |
| Blockchain: | Ethereum |