AVAX, the native token of Avalanche, is minted on its X-Chain, and has a hard cap of 720,000,000 tokens. Half of that supply was minted during the chain's genesis block, which allocated vesting schedules for the platform's seed, private and public sales, Ava Labs team, ecosystem grants, Testnet programs and the Avalanche Foundation. The rest of its supply is minted continuously as staking rewards for those validating the network.