Kusama (KSM)
Unlock Schedule
Kusama (KSM) Token Unlock & Vesting Schedule
As of October 16, 2026, 18.85 million KSM have been released. The schedule is ongoing, with no final release date. Over the next 12 months it releases 1.63 million KSM (all estimated) from Measured net supply change after canonical genesis, worth about $7.35 million at today's price (8.58% of the market cap). Today's release is an estimated 4,655 KSM from Measured net supply change after canonical genesis.
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
KSM has several jobs within the network. It pays for transactions, backs validators through staking, and gives holders a way to take part in governance. Teams also use it to purchase coretime. Governance participants may place KSM deposits when submitting or supporting proposals. These uses connect demand for the token to activity on the network, from a simple transfer to running a connected chain. (wiki.polkadot.com)
KSM has an inflationary supply model. Kusama’s documented annual issuance rate is 10%, with newly issued tokens directed toward stakers and the on-chain treasury. The share going to each depends on how much KSM is staked compared with the network’s target staking level. Governance can change the issuance setting, so the rate is a network rule rather than a permanent supply cap. (wiki.polkadot.com)
The treasury provides a way to fund work approved through governance. Staking rewards, meanwhile, encourage people to help secure the chain. Together, these features form Kusama’s incentive structure: the token supports day-to-day operations, decisions about the network, and the people who maintain it. (wiki.polkadot.com)
Upcoming KSM Releases
| Period | Allocation | Type | Amount | Value |
|---|---|---|---|---|
| Oct 16 – 31, 2026 | Measured net supply change after canonical genesis | Issuance, estimated | 74.5K | $335.9K |
| Nov 2026 | Measured net supply change after canonical genesis | Issuance, estimated | 139.7K | $629.8K |
| Dec 2026 | Measured net supply change after canonical genesis | Issuance, estimated | 144.3K | $650.8K |
| Jan 2027 | Measured net supply change after canonical genesis | Issuance, estimated | 144.3K | $650.8K |
| Feb 2027 | Measured net supply change after canonical genesis | Issuance, estimated | 130.3K | $587.8K |
| Mar 2027 | Measured net supply change after canonical genesis | Issuance, estimated | 144.3K | $650.8K |
| Total, next 12 months | 1.6M | $7.3M | ||
Values at $4.51 per KSM (October 16, 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
Kusama's initial allocation was about 10 million KSM in holdings and claim entitlements, but the available historical chain analysis indicates that substantially fewer KSM existed as account balances at the current chain's genesis. New KSM also enters through staking-related inflation, divided between participants and the treasury according to network conditions; individual claims and reward amounts cannot be separated from the available historical supply totals. The JAM prize and Bifrost loan are budgets for distributing existing KSM, with milestone-dependent or limited payment information. The chart can show the approximate opening balance and estimated growth between sparse total-supply observations, but its intervening months and future growth are not a verified release schedule.
- Initial KSM allocation and claim entitlements: Releases depend on recipients claiming tokens or on grants being awarded.
- DOT sale participants' KSM entitlements: Releases depend on recipients claiming tokens or on grants being awarded.
- Web3 Foundation initial allocation: The sources give the amount but no release dates.
- Initial future-sales reserve: The sources give the amount but no release dates.
- Initial SAFT investor allocation: The sources give the amount but no release dates.
- Initial private-sale investor allocation: The sources give the amount but no release dates.
- PoS validator and nominator rewards: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Inflation directed to the Kusama treasury: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
- Web3 Foundation JAM implementers' prize — KSM component: Releases depend on recipients claiming tokens or on grants being awarded.
- 1. https://medium.com/kusama-network/kusama-network-7446706b8f4c
- 2. https://wiki.polkadot.com/kusama/kusama-timeline/
- 3. https://wiki.polkadot.com/kusama/kusama-inflation/
- 4. https://github.com/paritytech/polkadot/blob/master/runtime/common/src/claims.rs
- 5. https://www.reddit.com/r/Kusama/comments/1imwqw7
- 6. https://kusama.subscan.io/block/0
- 7. https://hackmd.io/0yZtRVuDQva4T509lUwkVQ
- 8. https://kusama.subsquare.io/referenda/457
- 9. https://assethub-kusama.subscan.io/
- 10. https://wiki.polkadot.com/learn/how-to/asset-hub-migration/
- 11. https://assets-cms.kraken.com/files/51n36hrp/facade/d93323b56958d2946cecdec9ffa9d217b262cad3.pdf
- 12. https://jam.web3.foundation/
- 13. https://jam.web3.foundation/rules
- 14. https://kusama.subsquare.io/referenda/654
- 15. https://kusama.polkassembly.io/root
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 · $2.3M open interest
 Binance (CEX) | 317K | 22K/29K |
 Kraken (CEX) | 188K | 65K/78K |
 MEXC (CEX) | 83K | 20K/28K |
Kraken (CEX) | 66K | 33K/81K |
 Coinbase (CEX) | 59K | 16K/20K |
 HTX (CEX) | 56K | 1.3K/1.2K |
 OKX (CEX) | 48K | 2.4K/4.1K |
 Bybit (CEX) | 38K | 1.1K/2.7K |
 KuCoin (CEX) | 35K | 1.4K/1.1K |
Binance (CEX) | 24K | 7.9K/14K |
 Bitget (CEX) | 18K | 14K/15K |
 Gate.io (CEX) | 8.5K | 8.8K/7.3K |
Kraken (CEX) | 2.6K | 1K/1.2K |
OKX (CEX) | 575 | 72K/33K |
OKX (CEX) | 87 | 69K/61K |
Allocations
Estimated from the last observation onward: about 4,655 per day (141,688 per month), the rate between the observations of August 2024 and September 2026.
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 · $2.3M open interest
Binance (CEX) | 317K | 22K/29K |
Kraken (CEX) | 188K | 65K/78K |
MEXC (CEX) | 83K | 20K/28K |
Kraken (CEX) | 66K | 33K/81K |
Coinbase (CEX) | 59K | 16K/20K |
HTX (CEX) | 56K | 1.3K/1.2K |
OKX (CEX) | 48K | 2.4K/4.1K |
Bybit (CEX) | 38K | 1.1K/2.7K |
KuCoin (CEX) | 35K | 1.4K/1.1K |
Binance (CEX) | 24K | 7.9K/14K |
Bitget (CEX) | 18K | 14K/15K |
Gate.io (CEX) | 8.5K | 8.8K/7.3K |
Kraken (CEX) | 2.6K | 1K/1.2K |
OKX (CEX) | 575 | 72K/33K |
OKX (CEX) | 87 | 69K/61K |