Every number, in one place.

The monetary base is inherited from the Zcash design and is fixed in the code. Nothing on this page is a projection — it is arithmetic you can check yourself against the source.

Parameters

The rules of the hive.

Consensus and monetary parameters. Inherited from the upstream Zcash design and left unmodified.
Target block time	75 seconds
Block reward (era 0)	6.25 coins
Halving interval	1,680,000 blocks — about 4 years
Maximum supply	20,999,987.3152 coins
Premine	None. The genesis block contains no spendable coins.
Coinbase maturity	100 blocks
Proof of work	Equihash. CPU-mineable on the testnet.
Privacy	Optional. Shielded transactions keep sender, receiver and amount encrypted on-chain, using zero-knowledge proofs.
Lineage	Forked from open-source Zcash software — the Zebra full node, the Zaino indexer and the Zingo desktop wallet — with consensus rules and cryptography left unmodified.
Status	Testnet only. Test coins have no monetary value.

Emission

The first five eras.

An era is the stretch between two halvings: 1,680,000 blocks, or roughly four years at a 75-second target block time. In each era the block reward is half of what it was in the era before, which is why the total supply approaches 20,999,987.3152 coins without ever reaching it.

Coins issued per era and the running total.
Era	Block heights	Block reward	Issued in era	Cumulative supply
0	1 – 1,679,998	6.25	10,499,987.5	10,499,987.5
1	1,679,999 – 3,359,998	3.125	5,250,000	15,749,987.5
2	3,359,999 – 5,039,998	1.5625	2,625,000	18,374,987.5
3	5,039,999 – 6,719,998	0.78125	1,312,500	19,687,487.5
4	6,719,999 – 8,399,998	0.390625	656,250	20,343,737.5

Mining rewards mature after 100 blocks before they can be spent. There is no premine: the genesis block contains no spendable coins, so every coin in the table above has to be mined.

Reward allocation

Where every block reward goes.

Every block reward is split four ways, in the same proportions, for the whole emission schedule. Each halving reduces all four amounts together — the 80 / 8 / 4 / 8 structure never changes, all the way down to the block where the reward reaches zero.

The percentages are hard-coded in the genesis rules. Each allocation is paid automatically to its predefined destination address. Destinations can only be changed through a formal protocol upgrade; the percentages themselves cannot be changed. The three destinations are script addresses held by the project, and they are published together with the genesis rules.

No premine, no hidden treasury — every allocation is visible in every block.

Fixed in the genesis rules for the whole emission schedule. Paid block by block as part of each block reward — not a premine.

Per block in era 0 — block heights 1 – 1,679,998, at 6.25 coins per block.
Recipient	Share	Per block (era 0)	Total in era 0
Miner	80%	5.00	8,399,990
Core Development	8%	0.50	839,999
Grants & Ecosystem	4%	0.25	419,999.5
Community & Development Reserve	8%	0.50	839,999
Total	100%	6.25	10,499,987.5

Per block, by era. Every halving halves all four amounts together, so the shares stay at 80 / 8 / 4 / 8.
Era	Block reward	Miner	Core Development	Grants & Ecosystem	Reserve
0	6.25	5.00	0.50	0.25	0.50
1	3.125	2.50	0.25	0.125	0.25
2	1.5625	1.25	0.125	0.0625	0.125
3	0.78125	0.625	0.0625	0.03125	0.0625
4	0.390625	0.3125	0.03125	0.015625	0.03125

Lifetime totals (exact), across the whole emission schedule.
Recipient	Coins
Miners	16,799,990.4872
Core Development	1,679,998.7648
Grants & Ecosystem	839,999.2984
Community & Development Reserve	1,679,998.7648
Total	20,999,987.3152

Amounts are exact to the smallest unit for the first seven eras (about 28 years). After that the inherited rounding rule rounds each allocation down to a whole unit and the miner receives the remainder, which is why the lifetime miner share is fractionally above 80%.

At every halving

The block reward halves and the 80 / 8 / 4 / 8 split stays exactly the same. The percentages are fixed in the genesis rules and cannot be changed.

Over the whole life of the chain that is 80% to miners, 8% to Core Development, 4% to Grants & Ecosystem and 8% to the Community & Development Reserve.

The reserve

Paid block by block to its own predefined address, like the other allocations. How it is governed and spent will be defined separately and published before any mainnet.

Precedent

How Zcash did it.

SWARM did not invent the idea of funding development out of the block reward. The upstream project has run three different arrangements, in public, over nearly a decade. SWARM’s arrangement is simpler than any of them: one fixed split for the whole emission schedule.

Zcash block reward arrangements over time, for context.
Period	Split
2016 – 2020	80% miners / 20% Founders’ Reward
2020 – 2024	80% miners / 7% / 5% / 8% development fund
2024 onward	80% miners / 8% grants / 12% lockbox

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