Price$0.00662OTC desk quote (NonKYC, Neoxa)
Market value$1.79M269.82M ZKAS circulating
HoldersShieldedbalances are private by design
dawns' reading
Open questionsMarketWatch—OTC quotes only
Exit in a dayWatch—no measured market
HoldersNotePrivateshielded by design
New supply, 12 monthsWatch+158%on its emission schedule
Block producers for 50%Watch2largest makes 34%
DeFi venuesNote0only holding
All findings (7) and questions to investigate (6)
- Watch No independent external audit of the chain's code yet, per its own site.
- Note Shielded by construction: holder concentration and flows cannot be measured on-chain. That is the design, not a data gap.
- Watch Priced from OTC desk quotes only (NonKYC, Neoxa). No DEX pool or public order book dawns reads.
- Watch New supply over the next 12 months, on its schedule: about 158% of today's circulating supply.
- Note Hashrate equals 15.8% of Kaspa's. With merged mining, that is at most the share of Kaspa's work also securing ZKAS.
- Watch Block production: 2 payout addresses made over half of 160 sampled blocks; the largest made 34%. 24 distinct producers seen in 1 day.
- Note No coins have ever left the shielded pool: every coin minted is still shielded.
- How much security comes from merged mining, and how stable is that share?
- How concentrated is mining? Which pools produce the blocks?
- What will the perpetual tail do to supply once the front-loaded phase ends?
- How deep is ZKAS liquidity beyond two OTC venues?
- How much economic activity is there beyond mining? What leaves the shielded pool?
- What depends on a few operators: wallets, the explorer, the OTC desk?
Research, not advice: dawns shows what the data says and what it cannot show. It never says buy or sell.
Supply
269.82M ZKASNew supply, 12 monthson its emission schedule
- Next reduction
- 2026-10-03 to 35.6762 ZKAS/block
- Maximum
- No cap: perpetual tail emission
- Launched
- 2026-07-26
Network
52.8 PH/sOf Kaspa's hashratemerge-mined work
Left the shielded pool5,695,184 notes
Who produces the blocks · 160 sampled
Hover a segment
Producer 4f514534%Producer 610c7019%Producer 92d27f19%Producer 1949246.3%Producer 1b82f15.0%Everyone else16%
From each block's payout address. One operator can use several, so real concentration can only be higher.
- Consensus
- Proof of work, GHOSTDAG BlockDAG
- Hash function
- kHeavyHash, merge-mined with Kaspa
- Block rate
- 1 block per second (target)
- Privacy
- Mandatory shielded transfers (Orchard / Halo 2)
- Launch
- 26 July 2026, no premine (per its documentation)
- Emission
- 60 ZKAS/block at launch, roughly halving each quarter; tail of 6 ZKAS/block from ~month 10, 0.6 ZKAS/block forever from month 24
- Split
- 95% to miners, 5% to development, enforced by consensus
- Supply cap
- None: the tail pays for security
- Audit
- No independent external audit yet (per its site)
Where capital can go with ZKAS
No pool or lending market dawns reads holds it. Today the only position is holding it. All opportunities