ICP Burn vs Mint
Track daily ICP minting and burning and their net effect on the total supply. Indexed from every block of the ICP ledger since genesis and reconciled nightly with DFINITY’s ledger API.
Minting above zero, burning below. Mid-month peaks are node-provider rewards; select “Burned” to see burning on its own scale. Hover or tap a bar for details. Days in UTC; the last bar is today so far.
ICP minted and burned by month
Monthly totals since genesis, in ICP. The current month is in progress.
| Month | Node-provider rewards | Minted from maturity | Burned | Burn-to-mint | Net change | Supply at month end |
|---|---|---|---|---|---|---|
| Loading… | ||||||
The genesis allocation (469,213,710 ICP on May 6, 2021) is the starting supply and is not counted as minted.
Download the data
Daily data since genesis in one file: node-provider rewards, minted from maturity, burned, fees, net change and supply. The ledger is public; this compilation is licensed under CC BY 4.0 — credit “icptokens.net”.
ICP burn and mint FAQ
What does it mean to mint or burn ICP?
Minting creates new ICP and adds it to the supply; only the NNS, the network’s governance system, can mint ICP. Burning permanently removes ICP from the supply by sending it to the ledger’s minting account. The difference between the two is the net supply change — the core of ICP tokenomics.
How is new ICP minted?
Mainly in two ways:
- Node-provider rewards — paid monthly to the providers who run the network’s nodes. Rewards are set in XDR and converted to ICP at the 30-day average ICP/XDR rate, so a lower ICP price means more ICP is minted.
- Minted from maturity — neurons earn voting rewards as maturity. ICP is minted only when maturity is disbursed: after 7 days, adjusted by maturity modulation of up to ±5%.
How much ICP is burned per day?
Most burned ICP is converted to cycles, which pay for canister compute and storage: 98.5% of the ICP burned in the 90 days to October 22, 2026 followed a cycles top-up, canister creation or cycles mint through the Cycles Minting Canister. The remainder is transaction fees — every transfer or approval costs 0.0001 ICP, which is burned.
How much ICP has been burned in total?
Burned ICP cannot be recovered; it is permanently removed from the supply.
Is ICP inflationary or deflationary?
The supply grows when more ICP is minted than burned (inflationary) and shrinks when more is burned (deflationary).
This is not the staking reward rate. Maturity that remains in neurons is not yet ICP, so supply growth is lower than the NNS voting-reward rate. Both figures are correct; they measure different things.
Does staking ICP burn it?
No. Staking locks ICP in a neuron but does not burn it; staked ICP remains part of the total supply. New ICP is created only when neuron maturity is disbursed or node-provider rewards are paid.
What is the total supply of ICP?
It started from the genesis allocation of 469,213,710 ICP on May 6, 2021 and changes daily by ICP minted minus ICP burned. This figure matches DFINITY’s ledger API.
Is this data verified against DFINITY?
- Yes. We maintain a full copy of the ICP ledger. Every night, each day’s burned ICP, fees and total supply are compared with DFINITY’s ledger API — the data behind dashboard.internetcomputer.org — and match to the e8s (0.00000001 ICP).
- Node-provider rewards are DFINITY’s official payouts, each matched by account and amount to the ledger block that minted it. All other ICP minted by the NNS is counted as minted from maturity.
- DFINITY’s payout list records the June 14, 2022 reward event twice; the ledger minted it once, and we count it once. Four early payouts from June–July 2021 cannot be matched to a block and are counted as maturity.
Sources: ICP dashboard — tokenomics · ledger API · node-provider rewards API · network economics
For information only; not financial advice. See also ICP price and markets.