Fixed supply. Fair from day one.

Emission follows cut height, not the calendar. Every 34,560 cuts, one day at the target pace, the subsidy drops by 0.3 %. Rewards keep flowing for 34.6 years, until the last atom on day 12,650. No halving cliffs and no surprises: every future day can be computed today.

1. 50 % Day 231 about 7.6 months
2. 90 % Day 767 about 2.1 years
3. 99 % Day 1,533 about 4.2 years
4. 99.9 % Day 2,300 about 6.3 years
5. 100 % Day 12,650 about 34.6 years, the last atom

Each cut's new TRAI and every fee are split in half. Miners earn the work half for the blocks they find, paid about four minutes later; stakers earn the stake half once a day. Nothing goes to developers or a foundation: there is no developer fee.

Fees are priced by size, not by amount: every byte a transaction carries adds to its fee, and a simple payment costs from about 0.00004 TRAI. Messages and notes pay for every byte too, and text weighs extra. A TSP-2 stealth payment pays at least ten times the normal fee, and half of it is burned for good. Proof of Useful Work, in research, would add a job fee: half to the miners, a quarter to the stakers and a quarter burned.

How much a stealth payment pays: the larger of two amounts. Either ten times the normal fee for its size, or 0.1 TRAI for every new cell it opens, multiplied by how full the cells already are, from ×1 up to ×34. Payments that reuse their cells pay no cell charge.

Block rewards shrink by 0.3 % every day, fastest at the start, and run out after about 34.6 years. That is by design: over time, miners and stakers live on the real use of the network instead of new coins. Fees from every payment, message and note carry on, and Proof of Useful Work, which we are researching, is meant to take over from block rewards as the miners' main income: customers pay for verified compute jobs on the miners' hardware, and every job fee is planned to go half to the miners and a quarter to the stakers, with the last quarter burned.

Tenrai has one allocation: 20 million TRAI, 10 % of the maximum supply, created in the genesis block. Six developers receive 1 % each, 2 million TRAI. The other 4 %, 8 million TRAI, pay for marketing, exchange listings, servers and other costs. After the official release, some of these coins will be offered through an exchange listing, so users can buy TRAI to stake right away.

Tenrai is secured by proof of stake: every cut needs the signatures of validators holding more than two thirds of the stake. Without validators and staked coins in the genesis block, the network would not only lack security, it could not start at all, because no cut could ever become final. That is why we stake 1 million TRAI in the two validators that start the network, and no more at first, so every user has a fair chance to stake and earn rewards. We will not stake unrealistic amounts at the expense of users.

Measured against the rewards, 10 % is small. Block rewards start high and shrink by 0.3 % a day, so in the first 30 days alone miners and stakers receive about 15.5 million TRAI, 7.8 % of the maximum supply. After 40 days they have received more than the whole allocation.

In return, there is no developer fee: every reward and every fee goes to miners and stakers. Our mining software is free and takes no fee. It mines solo on your own node, through the stratum bridge or in a pool.

It also supports GPUs with CUDA and OpenCL from day one. Some launches give the public only a CPU miner while insiders mine on graphics cards, or in secret with special hardware, and still call it a fair start. Tenrai does neither: TenQ, our own hash, aims to take away the edge of special hardware, and we will not mine with special hardware in secret, because TenQ was designed to resist it. No tricks, nothing hidden.