What is the max supply of AVAX?

AVAX has a hard cap of 720,000,000 tokens, fixed in the protocol. 360 million were minted at genesis in 2020; the rest is released over time as staking rewards.

How much AVAX is circulating today?

As of July 11, 2026, roughly 431,771,961 AVAX is in circulation out of a total supply of 463,441,061 AVAX. The circulating figure grows with staking rewards and shrinks with fee burning.

Is AVAX deflationary?

Partially. All Avalanche transaction fees are burned — permanently removed from supply — which offsets the new AVAX minted as staking rewards. During periods of high network activity, burning can outpace emission.

What happens to Avalanche gas fees?

They are burned. Unlike chains where fees go to miners or validators, every AVAX paid in transaction fees is destroyed, reducing the supply that will ever circulate. Validators are compensated through staking rewards instead.

AVAX Total Supply & Circulating Supply (Live)

As of July 11, 2026, AVAX has a total supply of 463,441,061 AVAX, of which roughly 431,771,961 AVAX is circulating. The hard cap is fixed at 720,000,000 AVAX — it can never be exceeded. These figures refresh hourly on this page.

How the supply is structured

Genesis: 360 million AVAX (half the cap) were minted at mainnet launch in September 2020, allocated to public sales, the team, the foundation, and ecosystem incentives on vesting schedules.
Emission: the remaining 360 million are minted over many years as staking rewards for validators and delegators. Emission slows over time — there is no fixed end date.
Hard cap: 720 million, enforced by the protocol. AVAX cannot be minted beyond it.

Fee burning: the deflationary side

Every transaction fee paid on Avalanche — on the C-Chain, P-Chain, and X-Chain — is burned, permanently removed from existence. Validators do not receive fees; they earn newly minted staking rewards instead. This means network usage directly reduces the effective supply, and millions of AVAX have already been burned since launch.

Total vs. circulating supply

Total supply counts all AVAX minted minus everything burned. Circulating supply excludes tokens that are locked or still vesting. The gap between the two narrows over the years as vesting schedules complete and staking emissions land in circulation.

Why supply mechanics matter on-chain

Supply and staking mechanics shape behavior that shows up in on-chain data: wallets that stake, hold through cycles, and pay fees over long periods leave a very different footprint than wallets that appear briefly and vanish. That long-run footprint is exactly what SOCI4L reads from the Avalanche C-Chain to build a wallet's reputation profile.