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After the genesis supply, additional tokens are issued at the end of each epoch (one day). Osmosis differs in this regard from other Cosmos SDK chains, in which tokens are distributed on a per block basis.
Osmosis’ token issuance follows a thirdening schedule. Similar to Bitcoin’s halvening in which new token issuance is reduced by half every four years, Osmosis’ token release is cut by one-third every year. In other words, the daily issuance of OSMO remains stable for 365 epochs (one year), then the amount decreases by one-third.
In the first year, 300 million new OSMO will be issued. In year two, 200 million OSMO will be issued. By year three, the amount decreases to 133 million new tokens. This process continues until Osmosis reaches an asymptotic maximum supply of 1 Billion.