Documentation

The $KERNE Token

$KERNE is the native governance and value accrual token of Kerne Protocol. It gives holders a direct stake in the protocol through governance rights and revenue sharing.

Supply

The canonical KERNE token (v2, 0x230f3a63...186c) has a fixed total supply of 1,000,000,000 KERNE, minted once at genesis to the 2-of-3 Kerne Safe on June 7, 2026. It has no MINTER_ROLE and no mint() function, so the 1,000,000,000 cap is cryptographically enforced: no party, including the Safe, can ever mint more. The retired v1 contract (0xfEA3D217...) held only 100,000,000 KERNE and is non-canonical, its supply EIP-7702-trapped; a procedural claim adapter with zero claimable supply honors the migration commitment.

After TGE the only supply changes will be permanent burns from the buyback program and scheduled vesting unlocks from existing allocations. Because there is no mint function, circulating supply can only fall over time and can never rise above the fixed 1,000,000,000 cap.

Read the full disclosure of the deployed source vs. earlier marketing copy at /security/kerne-token-disclosure.

All team and investor allocations are subject to multi-year vesting with cliffs. A meaningful portion is reserved for the community through the Opal Rewards program.

How $KERNE Captures Value

$KERNE accrues value through multiple mechanisms on a fixed, shrinking supply:

Buyback and Burn: A portion of protocol revenue buys $KERNE on the open market and permanently burns it, creating continuous buying pressure while reducing total supply.
Governance: $KERNE holders participate in protocol governance, including decisions on collateral types, risk parameters, and protocol upgrades.
Revenue Share (veKERNE, Planned): In a future phase, users will be able to lock $KERNE for one to four years to receive veKERNE. In return, they will earn a direct share of protocol revenue, with longer lock durations earning a greater share. This structure will prioritize long term protocol health over temporary inflationary rewards. veKERNE holders will also direct yield emissions across protocol vaults through gauge voting.
Supply Lock: Tokens locked as veKERNE will be removed from circulating supply for the lock duration, creating structural scarcity.

TGE Timing

TGE is targeted after the protocol has sustained meaningful TVL and paid out yield for multiple months without adverse events. It is not a fixed calendar date.