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  • Tokens

    • Penumbra (UM)

    10/23/2025 04:00 UTC

    $0.041

    % Today
    -1.51%

    Unlock Schedule

    Penumbra (UM) Token Unlock & Vesting Schedule

    The unlock chart above provides a clear visual overview of the Penumbra (UM) token release schedule, showing when and how tokens enter circulation across investor, team, treasury, and community allocations. Understanding these tokenomics dynamics is critical for evaluating potential supply pressure, inflation impact, and market liquidity over time — key factors that can influence UM price performance.

    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

    Penumbra tokenomics are described publicly through the project’s forum and docs.

    • Genesis supply: 100,000,000 UM. The distribution includes 16% airdrop (8% to active Cosmos DeFi users and 8% to developers), 25% community pool (earmarked for future community use and distribution via governance), 20% to IAN, 12.5% to contributors, 12.1% to seed investors, 5.1% to strategic investors, 4.5% to Radiant Commons, and 3.65% to Penumbra Labs. Investor and team allocations follow time‑bound lockups and cliffs for transparency and alignment. (forum.penumbra.zone)

    • Fees and burning: Penumbra prices four resources (block space, compact block space, verification, execution) and burns the base fee of every transaction. Initially, the proposer tip is also burned for implementation simplicity. This design makes UM structurally deflationary relative to on‑chain activity. (forum.penumbra.zone)

    • Multi‑asset gas: To streamline onboarding, users can pay fees in certain non‑UM assets (e.g., USDC, ATOM, OSMO — and through governance, TIA), which are swapped into UM and then burned, keeping UM at the center of the economy. UM remains the most cost‑efficient fee token, encouraging users to hold it. (penumbra.zone)

    • Staking issuance: Staking issuance is intentionally modest and set by governance (initially around 2% per year) to avoid outsized rewards to locked holders, with rewards accruing to delegation pools and realized at undelegation. (forum.penumbra.zone)

    • Governance and incentives: UM holders vote on proposals, including parameter changes and upgrades. In 2025, Penumbra introduced a Liquidity Tournament (LQT) that directs DEX incentives based on community voting, rewarding both delegators and liquidity providers according to real trade execution. (vote.penumbra.zone)

    In short, Penumbra tokenomics favor sustainable utility: UM anchors fees (and burns), staking, governance, and liquidity incentives — the core drivers behind long‑term network usage and, by extension, the UM price narrative. (forum.penumbra.zone)

    Assumptions

    • Supply is uncapped; ongoing PoS issuance continues indefinitely.

      Protocol uses fixed per-block issuance set by governance; no max supply disclosed.

    • PoS rewards modeled at current parameter of 0.063411 UM per block and ~17,280 blocks/day.

      UIP notes 63,411 upenumbra/block and epochs of 34,560 blocks (~2 days). Converted to a daily rate to generate a linear monthly schedule.

    • Genesis date set to 2024-07-05.

      Forum post announcing Phase 0 genesis and allocations was published July 5, 2024 with language indicating the chain existed; exact timestamp of block 0 not explicitly published.

    • Team-distributed schedules modeled as: Contributors over 3 years with 1-year cliff; Radiant Commons and Penumbra Labs over 4 years with 1-year cliff.

      Genesis guidance states team buckets vest on 3- or 4-year schedules with 1-year cliff; specific per-entity durations were not itemized publicly.

    • Community Pool distributions modeled only for passed tranches (LQT tranches 1–2).

      At genesis the Community Pool was frozen by parameter; only governance-approved spends actually release tokens into circulation. Dates approximate based on community-call notes and governance portal.

    • Percentages for genesis buckets follow the textual breakdown in the mainnet Phase 0 forum post.

      The accompanying chart image shows slightly different percentages; absent an official reconciliation, we used the textual amounts and noted lower confidence.

    Allocations

    Airdrop
    16.00%
    Percentage of total token supply
    95%
    How certain we are about this information
    16,000,000 tokens
    Cliff: Jul 5, 2024 — NaN% of allocation
    Genesis airdrop totaling 16% of supply to Cosmos DeFi users and developers; claim staking multipliers did not change total tokens.
    Institute for Applied Numogrammatics (IAN)
    20.00%
    Percentage of total token supply
    90%
    How certain we are about this information
    20,000,000 tokens
    Cliff: Jul 5, 2024 — NaN% of allocation
    Foundation allocation at genesis intended for grants and ecosystem support. Not subject to team/investor lockups.
    Contributors
    12.50%
    Percentage of total token supply
    75%
    How certain we are about this information
    12,500,000 tokens
    Linear vesting: Jul 5, 2025 - Jul 5, 2027 (monthly)
    Team-distributed tokens modeled per genesis guidance: 3-year schedule with 1-year cliff (thus 24 months linear after the first year). Exact per-recipient schedules are encoded in genesis accounts but not itemized publicly.
    Radiant Commons
    4.50%
    Percentage of total token supply
    75%
    How certain we are about this information
    4,500,000 tokens
    Linear vesting: Jul 5, 2025 - Jul 5, 2028 (monthly)
    Team-distributed bucket; modeled as 4-year vest with 1-year cliff (36 months linear after the first year) per genesis guidance of '3 or 4 year' team schedules.
    Penumbra Labs
    3.65%
    Percentage of total token supply
    75%
    How certain we are about this information
    3,650,000 tokens
    Linear vesting: Jul 5, 2025 - Jul 5, 2028 (monthly)
    Team-distributed bucket; modeled as 4-year vest with 1-year cliff (36 months linear after the first year) per genesis guidance of '3 or 4 year' team schedules.
    Seed Investors
    12.10%
    Percentage of total token supply
    85%
    How certain we are about this information
    12,100,000 tokens
    Linear vesting: Jul 5, 2025 - Jul 5, 2027 (monthly)
    2-year linear vest with a 1-year cliff from genesis, per investor lockup terms.
    Strategic Investors
    5.10%
    Percentage of total token supply
    85%
    How certain we are about this information
    5,100,000 tokens
    Linear vesting: Jul 5, 2025 - Jul 5, 2027 (monthly)
    2-year linear vest with a 1-year cliff from genesis, per investor lockup terms.
    PoS Validator Rewards
    0.80%
    Percentage of total token supply
    70%
    How certain we are about this information
    799,891.718 tokens
    Linear vesting: Jul 5, 2024 - Jul 5, 2026 (monthly)
    Network issuance to validators/delegators at a fixed per-block rate set by governance. Current chain params cited: 63,411 upenumbra (0.063411 UM) per block; 34,560 blocks per ~2-day epoch. Modeled for first 2 years from genesis (≈1,095.74208 UM/day → 399,945.8592 UM/year). Future rates may change by governance.
    Community Pool Distribution: Liquidity Tournament (Tranche 1)
    0.10%
    Percentage of total token supply
    75%
    How certain we are about this information
    100,000 tokens
    Linear vesting: Jun 25, 2025 - Jul 9, 2025 (monthly)
    Governance-funded liquidity mining via the Liquidity Tournament; first tranche over ~14 days, split between LPs and delegators, disbursed each epoch from the Community Pool.
    Community Pool Distribution: Liquidity Tournament (Tranche 2)
    0.15%
    Percentage of total token supply
    70%
    How certain we are about this information
    150,000 tokens
    Linear vesting: Jul 9, 2025 - Jul 30, 2025 (monthly)
    Governance-funded Liquidity Tournament tranche 2; parameters set via governance with an intended ~10 epochs (~21 days) and approximately 150k UM budget from the Community Pool.
    Last Updated: 10/18/2025 00:06 UTC

    Description

    #3493

    Penumbra is a private proof-of-stake network and decentralized exchange for the Cosmos ecosystem. It integrates privacy with proof-of-stake through a novel private delegation mechanism, enabling private transactions, staking, and governance with sealed-bid batch auctions and concentrated liquidity positions.

    Sector: Layer 1
    Blockchain: Cosmos
    2024
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