Threshold Network (T) Tokenomics, Unlock Schedule and Vesting Chart

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Threshold Network (T) Token Unlock & Vesting Schedule

As of November 10, 2026, 10.12 billion T have been released. The schedule is ongoing, with no final release date.

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 and Distribution

T is an ERC-20 token on Ethereum. At launch, the DAO set an initial supply of 10 billion T. Of that amount, 4.5 billion was allocated to NU holders, 4.5 billion to KEEP holders, and 1 billion to the Threshold DAO treasury. Another 1.155 billion T was minted during an early incentive period for stakers and node operators, bringing the documented final total supply to 11.155 billion T. These figures describe the token’s issuance history, not the amount held by any particular group today. (docs.threshold.network)

Staking and Governance

Operators stake T to help run the network’s services. Staking connects an operator’s participation to the system that selects signers and supports tBTC wallets. T holders also take part in DAO decisions, including decisions about the treasury and protocol direction. Threshold’s governance includes token-holder participation and an elected council that handles certain ongoing responsibilities. (docs.threshold.network)

The bridge can charge fees for minting and redeeming tBTC. The DAO restored a minting fee in April 2026 after earlier changes to the fee schedule. Eligible T stakers can also receive tBTC redemption-fee waivers. Protocol revenue may support the treasury and discretionary T purchases; that arrangement is separate from a fixed payment to everyone who holds the token. (threshold.network)

Assumptions

Threshold minted 10 billion T at launch for NU holders, KEEP holders and the DAO treasury, then minted another 1.155 billion T for its staker and node-operator bootstrap program. The issuance chart reconciles to the documented 11.155 billion T total, but its monthly bootstrap path is an estimate between dated supply observations, not a record of each mint. Holder conversions remain claim-dependent, and several named treasury programs have budgets without verified payment dates. Those transfers are listed separately so they are not mistaken for newly created tokens.

NU holders' conversion of previously minted T: Releases depend on recipients claiming tokens or on grants being awarded.
KEEP holders' conversion of previously minted T: Releases depend on recipients claiming tokens or on grants being awarded.
Staker and node-operator bootstrap issuance: Timing not yet established.
Distribution of minted bootstrap rewards to stakers: New issuance depends on network activity, such as staking, so it cannot be dated in advance.
TIP-46 Sense Capital market-making loan: Releases depend on future governance or treasury decisions.
TIP-47 liquidity bootstrapping and protocol-controlled value: Only secondary sources describe the timing, so it is not confirmed.
TIP-060 Solana Growth Partnership: Only secondary sources describe the timing, so it is not confirmed.

Sources (12)

Total Supply N/A

Unlocked Supply 10.12B

Unlock Progress —

Genesis Date Dec 31, 2021

Fully Unlocked Ongoing

Allocations 11

Marketcap Rank (#) 434

Price ($) 0.004 -2.24% (7d)

24h Volume ($) 235K -61.45% (7d)

Marketcap ($) 50M

Fully Diluted Value ($) N/A

Circulating Supply N/A

Perpetuals: 1 market on Binance · $2.3M open interest

Spot

Perp


T/USDT	193K	15K/18K
T/USDT	56K	304/271
T/USD	29K	23K/17K
T/USDT	14K	13K/16K
T/USDT	9.1K	13K/10K
T/USD	6.3K	4.7K/22K
T/USDT	5K	11K/15K
T/USDT	4.1K	3.7K/29K
T/EUR	3.3K	9.6K/25K
T/USDT	1.4K	238/992
T/WETH	563	236/235
T/EUR	22	336/336
T/USDC	17	2.7K/1.1K

Allocations

Genesis T allocated to NU holders

4,500,000,000 tokens · 1 part

Cliff: Dec 31, 2021 — 100.00% of allocation · 4,500,000,000 tokens

Sources: Threshold Launch DetailsT Token

Genesis T allocated to KEEP holders

4,500,000,000 tokens · 1 part

Cliff: Dec 31, 2021 — 100.00% of allocation · 4,500,000,000 tokens

Sources: Threshold Launch DetailsT Token

Genesis T allocated to the Threshold DAO treasury

1,000,000,000 tokens · 3 parts

Parts of this allocation with their own release dates are charted as their own allocations; the chart shows the rest here.

Cliff: Dec 31, 2021 — 100.00% of allocation · 1,000,000,000 tokens

Sources: Threshold Launch DetailsT Token

Staker and node-operator bootstrap issuance

1,155,000,000 tokens

Timing not yet established (Dec 31, 2021 - Sep 30, 2026): amount unknown

Sources: T TokenTIP-030: Mint 265m T tokens for the Council to distribute following the stable yield modelTIP-038: Mint 250m T tokens for the Council to distribute following the stable yield modelTIP-092: Make T Great Again, Part 1 (Eliminate Inflation)Onchain Bitcoin Options: The Growth of Decentralized Capital Markets

Distribution of minted bootstrap rewards to stakers

N/A tokens

Timing not yet established (2022 - 2025): amount unknown

Sources: TIP-030: Mint 265m T tokens for the Council to distribute following the stable yield modelTIP-038: Mint 250m T tokens for the Council to distribute following the stable yield model

Supply growth (CoinGecko)

Ongoing issuance

Observed release: 120,000,000 tokens

Backend estimate, not researched: the growth of CoinGecko's total supply (120,000,000 tokens) over 2024-03-30 to 2026-09-30, where the research dates no issuance

Sources: CoinGecko total supply (supply reference given to the research)

Last Updated: 2026-09-30 00:44:43 UTC

Description

#434

Threshold Network is the result of merging two decentralized protocols, Keep Network and NuCypher, combining their strengths in privacy-focused technologies and distributed node networks. It leverages threshold cryptography to provide secure, privacy-centric solutions, including proxy re-encryption services and decentralized bridging of Bitcoin to Ethereum through tBTC.

Sector:	Bridges
Blockchain:	Ethereum

2022

Total Supply N/A

Unlocked Supply 10.12B

Unlock Progress —

Genesis Date Dec 31, 2021

Fully Unlocked Ongoing

Allocations 11

Marketcap Rank (#) 434

Price ($) 0.004 -2.24% (7d)

24h Volume ($) 235K -61.45% (7d)

Marketcap ($) 50M

Fully Diluted Value ($) N/A

Circulating Supply N/A

Perpetuals: 1 market on Binance · $2.3M open interest

Spot

Perp


T/USDT	193K	15K/18K
T/USDT	56K	304/271
T/USD	29K	23K/17K
T/USDT	14K	13K/16K
T/USDT	9.1K	13K/10K
T/USD	6.3K	4.7K/22K
T/USDT	5K	11K/15K
T/USDT	4.1K	3.7K/29K
T/EUR	3.3K	9.6K/25K
T/USDT	1.4K	238/992
T/WETH	563	236/235
T/EUR	22	336/336
T/USDC	17	2.7K/1.1K

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Threshold Network (T)

$0.004

Unlock Schedule

Threshold Network (T) Token Unlock & Vesting Schedule

Tokenomics & Utility

Supply and Distribution

Staking and Governance

Assumptions

Tokenomics Overview

Market Data

Allocations

Description

#434

Tokenomics Overview

Market Data

Product

Company

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