X1 Labs has published the genesis allocation of XNT on the official XNT page. It is the number the community has been asking for since before X1's testnet went live: how the 1,000,000,000 XNT created at genesis is split, who holds what, and when it unlocks.
For years people mined, staked, ran validators and built on X1 without knowing what share of the token they were working for. Now the table is public. Most of it answers old questions. One line opens a new one: 250 million XNT, a quarter of genesis, is set aside for the community, and nobody knows yet who gets it or how.
The genesis allocation
This is the table as X1 published it, in XNT, as a share of the 1 billion genesis supply:
| Pool | XNT | % of genesis | Schedule |
|---|---|---|---|
| Foundation reserve | ≈ 464M | ≈ 46.4% | No vesting |
| Community onboarding | 250M | 25% | Earmarked, timing TBD |
| Team, aggregate | 210M | 21% | Cliff + monthly |
| Solana liquidity | 50M | 5% | Earmarked, timing TBD |
| Investors | ≈ 20M | ≈ 2% | Cliff + monthly |
| Validator vesting | ≈ 5.4M | ≈ 0.54% | Cliff + uptime |
| Validator genesis claims | ≈ 690K | ≈ 0.069% | Released Oct 6, 2025 |
The team and investor lines share one schedule: a 25% cliff on October 6, 2026, then monthly vesting through October 6, 2029. Validator vesting had an October 6, 2026 cliff, subject to uptime. The page marks the investor figure as approximate because "investor reconciliation" is still ongoing.
The fine print matters. X1 states that none of this is enforced on chain: the schedules are contractual, with no protocol-level locks, and transfer restrictions end by October 6, 2029 under the Token Warrant.
250 million XNT: the big question mark
The community onboarding pool is the second largest line in the table, bigger than the team's. The page says only that it is "earmarked per X1 Foundation launch plan" and that the "distribution mechanism and timing" are still to be decided.
The strongest hint so far points to XCORE, the token Jack Levin has been designing for Solana. It is widely expected that XCORE will receive part of the 250 million, but no one has said how much, and the official page does not mention XCORE at all. Treat any split you see quoted as a guess until X1 announces it.
Levin spoke about XCORE again on Sunday, October 25, in an X Space, "Something Nothing Sunday", hosted by Simple Waters. His idea of value is attention:
“The value is the attention of the troops that you have.”
He pointed back to XEN, the project that brought most of today's X1 community together:
“XEN was meant to capture attention... It did really well. I think that it got more wallets than HEX did.”
And he went further: “The top protocol on Ethereum is XEN.”
Who could claim XCORE
According to Levin, the communities lined up to claim XCORE are:
- the XEN community
- VMPX holders
- HEX stakers and holders
- XENCAT holders on Solana and X1
- XNM miners
- the Doginal Dogs community on X
- BONK holders on Solana
More communities may be added. On Doginal Dogs he was direct: “Doginal Dogs X community should also be the receivers of XCORE as well.”
He also said where he wants XCORE to live: “I really want XCORE to be the majority of the holders on Solana.” The claim mechanics, amounts and dates are not public yet. Our interview with Levin from October 22 covers the bonding-curve design he is leaning towards, and the original XCORE proposal explains the wXNT pool behind it.
50 million XNT for Solana
The second earmarked line, 50 million XNT for Solana liquidity, matches what Levin said in the Space: “We want 50M of liquidity on Solana.” He described what he wants that money to do:
“I want wrapped XNT on Solana, a good amount of tokens, something around 50M, and Solana becoming that trading platform for XNT that you can quickly convert and send back to X1, and do all sorts of things on X1 too.”
Today wXNT, the bridged version of XNT on Solana, trades in thin pools, so a large buyer moves the price against themselves. Like the community pool, the page lists the mechanism and timing for this line as undecided.
Why Levin built the Terminal
Levin spent a large part of the Space on the Terminal and why he built it. XNT is not listed on any centralized exchange, and outside XDEX there is no other market for it. That makes it scarce in practice. Anyone who wants to buy has to go through thin liquidity, and even a small order pushes the price up fast.
The Terminal is his answer. It is a fixed-rate exchange counter: it sells XNT at a set price and buys it back at a lower one, so a buyer gets the size they want with no price impact. The difference between the two prices, the spread, is kept in USDC, and Levin wants that USDC used to buy XNT back. Buyers get a clean entry, and the spread turns into steady buy pressure on the open market.
We covered how the counter works, with the demo Levin showed on screen, in our October 22 interview. He wants a version on Solana as well. He had hoped for an early November launch, but that date is not confirmed.
Validators: “a huge airdrop”
“Validators got a huge airdrop,” Levin said in the Space. Two lines in the table cover them: about 690,000 XNT in genesis claims, released on October 6, 2025, and about 5.4 million XNT in validator vesting. The second figure lines up with the 5.39 million XNT testnet rewards airdrop we reported in October. Together that is about 0.6% of genesis, a small share of supply but a meaningful sum for a single operator.
“Huge” looks different once costs are counted. The median address in that airdrop received about 8,410 XNT, roughly $2,150 at today's price of about $0.26. Against that, operators have paid for a dedicated bare-metal server since testnet: X1 asks for 12 cores, 192 GB of RAM and 4 TB of NVMe, a class of machine that rents for hundreds of dollars a month. Add the time spent on upgrades and keeping a node online, and most validators have so far roughly broken even or lost money. The airdrop paid for part of the work, not all of it.
The Foundation's 464 million
The Foundation reserve is the largest line, about 464 million XNT with no vesting. The 85 million XNT burn announced on October 21 comes out of the Foundation's allocation. That would leave roughly 379 million XNT, and X1 has not said where the rest goes.
The burn has still not landed. We read X1 mainnet on October 25: total supply was 1,081,660,349 XNT and the incinerator address held nothing, so the 85 million are still in circulation for now.
A team of four, and no development line
X1 Labs is a very small company: four people, Jack Levin, Axel Eckerbom, Nick Pettas and Leo. The team line is 210 million XNT, 21% of genesis, published as one aggregate figure without a breakdown.
What the table does not have is a line for development: no ecosystem fund, no builder grants, no treasury set aside for the apps X1 needs. Whether that work is meant to come out of the Foundation reserve, the community pool or somewhere else has not been said.
No venture capital
The investor line is the smallest of the big pools, about 20 million XNT, roughly 2% of genesis. That is a deliberate choice. Most new chains, including nearly every Ethereum layer 2, launched on venture money, and many of those tokens never recovered from their investors' unlocks. X1 went the other way. It ran a small funding round that was mostly open to its own community: more than $3 million from investors worldwide, with $1.11 million coming from 106 people on Wefunder. Our explainer on the investment round walks through how it worked.
Supply today
The page also shows live supply. Total supply is 1.08 billion XNT, above the 1 billion at genesis because of staking issuance. 995.3 million XNT, 92%, is staked, mostly by the Foundation and its delegation program rather than by individual holders. Circulating supply, which excludes Foundation and treasury wallets, is 42.6 million XNT, 3.9% of the total. In September we recorded about 14 million, and the October 6 cliffs fall between the two readings.
New XNT is issued every epoch as staking rewards. Issuance started at 8% a year, falls 15% each year, and stops at a long-term floor of 1.5%. Today it is 6.7%. Every transaction also burns half its fee, priority fees included.
What we still don't know
- How the 250 million community XNT will be distributed, when, and how much of it goes to XCORE.
- How and when the 50 million XNT for Solana liquidity will be deployed.
- Where the rest of the Foundation reserve goes after the 85 million burn.
- Whether any of the supply is set aside for ecosystem development.
The table settles the question people waited years to ask. The next one is who gets the community's quarter, and we will update this story when X1 announces it.