由此化身资本

All existing tokens are already in circulation. New KAIA is issued at ~5.2% annually through block rewards, with emissions distributed as follows:
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- Validators & Stakers - 50%
- Ecosystem Fund (KEF) - 25%
- Infrastructure Fund (KIF) - 25%
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This supports network security, liquidity, and long-term ecosystem growth. Emission parameters can be adjusted through governance.