Hello world! We got very positive reaction to Ashton’s inaugural post as our most recent hand on deck. Many questions were asked, and we are happy to elaborate.
Background
As of now, less than 14% of Kaspa’s final supply remains un-emitted. Kaspa’s emissions have a half-life of 1 year (it takes exactly 12 monthly “chromatic” reductions to accumulate a 50% reduction), so a year from now only 7% will remain, and a year after that, only 3.5%.
As block rewards approach zero, the need for alternative miner revenue sources becomes pressing.
Naturally, block rewards are a crutch meant to be replaced by usage rates sufficient to cultivate an active transaction-fee market. However, while in theory BlockDAG enables efficient fee-market dynamics, in practice, the implied mechanisms are far from being implemented in Kaspa. (The upcoming Monopolistic Fee Market by Lavi-Sattath-Zohar improves fee predictability under high load, but relies on sustained near-capacity utilization to generate meaningful fee revenue.)
Another important potential revenue source is subsidies from services operating on Kaspa (this idea was already voiced before: https://t.co/pb6f1KAaeW). These services are incentivized to pay more fees than required by the base layer to contribute to the security of the base layer they rely on.
This is why we propose an Igra subsidy plan for Kaspa miners.
Igra’s Subsidies via Cross-Layer Revenue Sharing.
We propose rewarding those who double as Kaspa miners and Igra Attesters. Currently, Kaspa mining is rewarded with block rewards, while Igra attestation is rewarded with Kaspa gas fees (paid in $ikas) and staking fees (paid in $igra). The Igra Association proposes rewarding miners-attesters with additional funds for a limited time. This subsidy will incentivize Kaspa miners to increase Kaspa activity, providing Kaspa with the runway it needs to deliver features that will increase adoption sufficiently for self-sustainability.
A collaboration between Kaspa and external layer providers who are willing to subsidize mining, such as Igra, could be key to funding the development and commercialization of crucial features, including vProgs, oracles, and fee mechanisms.
To distribute the subsidy as effectively as possible, we are now collecting feedback. Miners: talk to us. What do you need? What might be a deal breaker?
Please reach out to Ashton @argonmining and let us know.
From the miners securing the network to the developers writing code, from the X and YouTube creators spreading the word to the community members answering questions in Discord and Telegram, and to those simply talking about Kaspa in the real world - every contribution matters.
The strength of Kaspa lies not in any single person or team, but in the collective effort of thousands who believe in the vision of a truly decentralized, scalable, and fair monetary system.
This report captures only a fraction of what happened in the Kaspa ecosystem this year. It is impossible to mention every builder, every developer, every community member, and every event that shaped Kaspa in 2025.
Kaspa community is one of the most active, passionate, and technically engaged communities in all of crypto - a decentralized army of contributors working tirelessly across time zones to push the boundaries of what Proof-of-Work can achieve: https://t.co/9AgN27BBL7
Let’s test something.
If $KAS really has one of the strongest communities in crypto, this post should explode.
No hype. No words needed. I don’t want followers, I want this post to explode.
Like. Comment. Repost. 🚀 #KASPA
Kaspa feels like the continuation of #Bitcoin, explains James Lee.
@KaspaFinance founder @cryptojameslee breaks down the tech during @token2049 — blockDAG architecture, proof-of-work consensus, and 10 blocks per second throughput. 🔽 https://t.co/YwjR1BDhMv
📣New Spot Listing Alert: $KAS Kaspa @kaspaunchained@Kaspa_KEF
Kaspa is a decentralized and fully scalable Layer-1, based on the GHOSTDAG protocol.
🪙Deposits Opened,
📈Trading Starts Soon!
https://t.co/7BXhMQRX8C
$KAS just got pitched to Dubai's biggest energy companies at a Ministry of Energy event.
Think about that for a second.
When enterprises need actual efficiency at scale, they're not messing around with legacy chains anymore.
What's your play here?
I’m going to take the liberty and repost the brilliant creator of $KAS, my friend (and idol) Yoni @hashdag’s letter to @Binance here for visibility.
I found myself nodding and screaming “yes” “exactly” at every sentence. Before you flame me, yes I work for a platform @UpholdInc and I’m proud of that. I try to keep the OG crypto embers burning inside a system that has changed the value and ethics proposition. Yes, we are all guilty in some way or other of perverting the original crypto spirit, and not all elements of OG cyberpunk were good, reasonable, morally acceptable or even realistic. But Yoni’s letter deserves more attention. I’m going to handwrite it in ink and hang it on my wall.
(For the younger readers: handwriting is an old form of “texting” when you use a pen, pencil or other implement to draw letters on a medium such as paper using only your fingers and your own brain. See https://t.co/8Jws3rXOs5)
Here it the letter. It’s the crypto version of Jean-Paul Sartre rejecting the Nobel in 1964.
————
@binance,
Thanks for including me in the top 100 blockchain people list, appreciate the signal!
I must decline the Dubai invite though. I do not wish to disrespect, but many of the award voters are avid kaspians who rooted for my kaspa status at least as much as for my research. Let them win or count me out.
Crypto has turned from a euphoric cypherpunk project to a house-friendly casino. You may not be the culprit, but as a top player you hold the lion’s share of the responsibility to correct this, and the October crash your USDe oracle glitch helped trigger adds to what needs to be addressed.
There are three classes of crypto, as @mert put it recently: commercial crypto, casino crypto, cypherpunk crypto. <<Binance should hold a privilege policy for the latter.>> A TBTF CEX should know better and play a different game with hardcore crypto projects.
When binance lists a green frog three weeks post its “launch” but skips a fair-launched-Nakamoto-Consensus-100ms-upgrade-ATH-top-20-the-only-nonbitcoin-marathon-mined project, this is not merely binance rationally calculating; it is also binance molding the market in a way that is alas misaligned with the roots of the movement. (Hear hear!!!!!)
You may feel that kaspa’s sovereign money thesis is boring – that bitcoin is already money and that implementing an internet-speed bitcoin is useless - fine. Wrong but fine. But what’s the thesis for the green frog?
Money is a classic chicken-and-egg product. It is a scam up until one moment before tipping point, “most of the value comes from the value that others place in it.” Considering your resources and influence, I think it's safe to say you can serve as both the egg and the chicken and make it worth your while to push sound attempts towards tipping point.
@cz_binance tweeted recently that “strong projects will be listed.” But binance is part of what defines "strong", it bears responsibility for the market’s compass and impulse and definition of strong. It is not a read-only entity.
Binance listing fees are legit, they are just unfit for category cypherpunk. Kaspa devs and early supporters fairly mined less than half what Satoshi and Hals mined. We don’t have a 20% ZEC-style founders’ reward or protocol-enforced dev fund; this is not a jab at ZEC and the wonderful @Zooko, who was crashing in my car on a late Thursday back in the low ZEC MC days – if somebody deserves to win it is zooko – but assuming binance is not taking a maxi bet, it should revisit its relationship with hardcore crypto.
We are here through bull and bear, ICOs NFTs XYZs; and we are the source of confidence that restores faith and capital inflow post meme-induced or CEX-induced crashes.
Please fix this.
Yonatan Sompolinsky
We stand with Yonatan Sompolinsky.
His message is a needed reminder: crypto was born from the cypherpunk spirit - built on proof and ingenuity, not privilege.
At Kii, we carry that principle into the world of energy.
Building new markets for new commodities in old fragmented, siloed systems monetary or otherwise takes courage and the humility to challenge systems written by those who never built one.
Global infrastructure like Kaspa lets us reimagine what open, verifiable markets can be not just for money, but for energy itself.
Energy = Money.
That’s not a slogan; it’s a signal of what’s next.
🎯 $KAS is not here to fit in. Its here to make change. $KAS has been exposing how ridiculous exchanges operate in this day and age. If you truly care about cryptoCURRENCY, the cypherpunk movement, PoW, and being able to USE this in our daily lives $KAS is at the forefront.
Let’s make sure @cz_binance sees this
Actions speak louder than words
If Binance really cares about fundamentally strong projects, $KAS will be listed soon
@binance,
Thanks for including me in the top 100 blockchain people list, appreciate the signal!
I must decline the Dubai invite though. I do not wish to disrespect, but many of the award voters are avid kaspians who rooted for my kaspa status at least as much as for my research. Let them win or count me out.
Crypto has turned from a euphoric cypherpunk project to a house-friendly casino. You may not be the culprit, but as a top player you hold the lion’s share of the responsibility to correct this, and the October crash your USDe oracle glitch helped trigger adds to what needs to be addressed.
There are three classes of crypto, as @mert put it recently: commercial crypto, casino crypto, cypherpunk crypto. <<Binance should hold a privilege policy for the latter.>> A TBTF CEX should know better and play a different game with hardcore crypto projects.
When binance lists a green frog three weeks post its “launch” but skips a fair-launched-Nakamoto-Consensus-100ms-upgrade-ATH-top-20-the-only-nonbitcoin-marathon-mined project, this is not merely binance rationally calculating; it is also binance molding the market in a way that is alas misaligned with the roots of the movement.
You may feel that kaspa’s sovereign money thesis is boring – that bitcoin is already money and that implementing an internet-speed bitcoin is useless - fine. Wrong but fine. But what’s the thesis for the green frog?
Money is a classic chicken-and-egg product. It is a scam up until one moment before tipping point, “most of the value comes from the value that others place in it.” Considering your resources and influence, I think it's safe to say you can serve as both the egg and the chicken and make it worth your while to push sound attempts towards tipping point.
@cz_binance tweeted recently that “strong projects will be listed.” But binance is part of what defines "strong", it bears responsibility for the market’s compass and impulse and definition of strong. It is not a read-only entity.
Binance listing fees are legit, they are just unfit for category cypherpunk. Kaspa devs and early supporters fairly mined less than half what satoshi and hals mined. We don’t have a 20% ZEC-style founders’ reward or protocol-enforced dev fund; this is not a jab at ZEC and the wonderful @Zooko, who was crashing in my car on a late Thursday back in the low ZEC MC days – if somebody deserves to win it is zooko – but assuming binance is not taking a maxi bet, it should revisit its relationship with hardcore crypto.
We are here through bull and bear, ICOs NFTs XYZs; and we are the source of confidence that restores faith and capital inflow post meme-induced or CEX-induced crashes.
Please fix this.
Thanks again,
hashdag
cc @michaelsuttonil
Exhibit A: Binance Innovation Zone
Exhibit B: 10 bps Nakamoto Consensus
@binance,
Thanks for including me in the top 100 blockchain people list, appreciate the signal!
I must decline the Dubai invite though. I do not wish to disrespect, but many of the award voters are avid kaspians who rooted for my kaspa status at least as much as for my research. Let them win or count me out.
Crypto has turned from a euphoric cypherpunk project to a house-friendly casino. You may not be the culprit, but as a top player you hold the lion’s share of the responsibility to correct this, and the October crash your USDe oracle glitch helped trigger adds to what needs to be addressed.
There are three classes of crypto, as @mert put it recently: commercial crypto, casino crypto, cypherpunk crypto. <<Binance should hold a privilege policy for the latter.>> A TBTF CEX should know better and play a different game with hardcore crypto projects.
When binance lists a green frog three weeks post its “launch” but skips a fair-launched-Nakamoto-Consensus-100ms-upgrade-ATH-top-20-the-only-nonbitcoin-marathon-mined project, this is not merely binance rationally calculating; it is also binance molding the market in a way that is alas misaligned with the roots of the movement.
You may feel that kaspa’s sovereign money thesis is boring – that bitcoin is already money and that implementing an internet-speed bitcoin is useless - fine. Wrong but fine. But what’s the thesis for the green frog?
Money is a classic chicken-and-egg product. It is a scam up until one moment before tipping point, “most of the value comes from the value that others place in it.” Considering your resources and influence, I think it's safe to say you can serve as both the egg and the chicken and make it worth your while to push sound attempts towards tipping point.
@cz_binance tweeted recently that “strong projects will be listed.” But binance is part of what defines "strong", it bears responsibility for the market’s compass and impulse and definition of strong. It is not a read-only entity.
Binance listing fees are legit, they are just unfit for category cypherpunk. Kaspa devs and early supporters fairly mined less than half what satoshi and hals mined. We don’t have a 20% ZEC-style founders’ reward or protocol-enforced dev fund; this is not a jab at ZEC and the wonderful @Zooko, who was crashing in my car on a late Thursday back in the low ZEC MC days – if somebody deserves to win it is zooko – but assuming binance is not taking a maxi bet, it should revisit its relationship with hardcore crypto.
We are here through bull and bear, ICOs NFTs XYZs; and we are the source of confidence that restores faith and capital inflow post meme-induced or CEX-induced crashes.
Please fix this.
Thanks again,
hashdag
cc @michaelsuttonil
Exhibit A: Binance Innovation Zone
Exhibit B: 10 bps Nakamoto Consensus