EthereumPoW (ETHW)
Unlock Schedule
EthereumPoW (ETHW) Token Unlock & Vesting Schedule
As of October 25, 2026, 125.36 million ETHW have been released. The schedule is ongoing, with no final release date. Over the next 12 months it releases 4.53 million ETHW (all estimated) from PoW block rewards, worth about $1.04 million at today's price (4.23% of the market cap). Today's release is an estimated 13,292 ETHW from PoW block rewards.
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
ETHW is the chain’s native coin. It exists as part of EthereumPoW’s network rules, rather than as a token issued by a smart contract. That makes it the coin used to pay transaction fees. Someone sending ETHW, moving a token, or using an application needs ETHW to cover the work their transaction requires. Miners receive rewards for producing blocks, so mining adds newly issued ETHW to the network over time. (medium.com)
The fork also shaped the coin’s starting distribution. ETH held at an Ethereum address before the split appeared as a matching ETHW balance at that address on the new chain. For coins held through an exchange, access depended on how that exchange handled the fork. This differs from a launch in which one project first creates and sells its entire supply: EthereumPoW began with balances inherited from years of Ethereum activity, followed by continued mining. (medium.com)
ETHW can serve other roles inside applications, such as paying for an on-chain name or exchanging one asset for another. Those uses come from individual projects built on the chain. At the network level, its central roles remain paying fees and rewarding miners. (ethw.domains)
Upcoming ETHW Releases
| Period | Allocation | Type | Amount | Value |
|---|---|---|---|---|
| Oct 25 – 31, 2026 | PoW block rewards | Issuance, estimated | 93K | $21.3K |
| Nov 2026 | PoW block rewards | Issuance, estimated | 398.8K | $91.2K |
| Dec 2026 | PoW block rewards | Issuance, estimated | 412.1K | $94.2K |
| Jan 2027 | PoW block rewards | Issuance, estimated | 412.1K | $94.2K |
| Feb 2027 | PoW block rewards | Issuance, estimated | 372.2K | $85.1K |
| Mar 2027 | PoW block rewards | Issuance, estimated | 412.1K | $94.2K |
| Total, next 12 months | 4.5M | $1M | ||
Values at $0.229 per ETHW (October 25, 2026), today's price, not a forecast. Releases continue after September 2027. Estimated amounts are modeled from the schedule's rules rather than dated by a source; see the Assumptions below. Releases without dates are listed under Allocations.
Assumptions
EthereumPoW inherited Ethereum balances at the September 2022 fork and continues to issue ETHW through proof-of-work block rewards. The chart shows an approximate inherited balance, estimated rewards from the launch padding blocks, and an estimated timeline for the coded 2 ETHW base reward per subsequent block. Additional ommer rewards and any later spending of the padding-block wallet have no quantified release history here. The gross chart cannot be reconciled to the supplied circulating-supply reference without an on-chain total and cumulative burn figure.
- PoW block rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Padding-block rewards directed to the 1559 multisignature wallet: Releases depend on future governance or treasury decisions.
- 1. https://github.com/ethereumpow/docs/blob/main/prepare-full-node.md
- 2. https://ethereum.org/roadmap/merge/issuance/
- 3. https://www.binance.com/en/support/announcement/detail/ff51359d19d241b08a97d82071cb891c
- 4. https://twitter.com/EthereumPoW/status/1569427804764405761
- 5. https://threadreaderapp.com/thread/1569427804764405761.html
- 6. https://github.com/ethereumpow/go-ethereum/blob/master/consensus/ethash/consensus.go
- 7. https://www.oklink.com/ethereum-pow/block/22931001
- 8. https://www.oklink.com/ethereum-pow/tx/0x04cc8fe3f674d5135995ab1c63af30645994af11f47604ee608c213ec8899e45
- 9. https://etherfair.org/EthereumFair%20Whitepaper.pdf
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Perpetuals: 2 markets on Binance and OKX · $1.4M open interest
Allocations
Open-ended per-block emission without a sourced end; dates past the last dated anchor are projected, and there is no finite total
Dates past the last dated anchor are projected at the 13-second target block interval
Description
#745
This page refers to the Ethereum Proof of Work (ETHW or ETHPOW) which tracks the spot and derivative prices of IOU markets across a growing number of exchange as the chain forks away from the original Ethereum chain that has migrated to proof of stake.
| Sector: | Layer 1 |
| Blockchain: | Other L1 |
Tokenomics Overview
Market Data
Tile coloring: Green indicates positive changes, red indicates negative changes, and neutral indicates no significant trend or unavailable data.
Perpetuals: 2 markets on Binance and OKX · $1.4M open interest