Permuto Timeline

Unofficial countdown to Key SEC and Trust Milestones

A clean public timeline for the expected formal start, SEC review window, notice period, and possible launch dates for the Microsoft and Broadcom Trusts.

Community-made reference page based on public information. Not sponsored by or affiliated with Chia Network Inc. or Permuto Capital LLC.

Public EDGAR Filing

Through May 12, 2026
LA time
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Countdown runs from March 31 for six full weeks, through the end of May 12.

90-Day SEC Review Window

August 10, 2026
Review
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Approximate end of the stated 90-day review period for exemptive relief.

25-Day Notice Period Ends

September 4, 2026
Notice
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Final notice-stage milestone before the earliest indicated launch date.

Earliest Microsoft Trust Launch

September 4, 2026
Launch
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Earliest published target for the Microsoft Trust to go live.
Projected sequence

Broadcom Trust and Additional Timeline

Roughly September 18, 2026
Broadcom Trust Expected roughly two weeks after the earliest Microsoft launch.
~ Sep 18, 2026
SEC process sensitivity Any additional comments or delays could move all projected dates.
Variable
Use this page carefully These counters are based on stated projected dates, not guarantees.
Important
Next Phase: Scaling

Permuto 85 Trusts Rollout (2026–2027)

Permuto may expand to up to 85 institutional trusts, potentially covering a large portion of the S&P 500 by value. Over ~24 months, this scaling could significantly increase on-chain dividend activity and create sustained demand for Chia blockspace.

Expansion Phase
Projected rollout horizon
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Max scale
Up to 85 trusts
Market coverage
Up to ~90% S&P 500 value
Time horizon
~24 months
Network impact
Potential blockspace saturation
Scaling phase Transition from initial launch to broad institutional coverage.
Scale
On-chain dividends Increasing number of trusts may drive recurring blockchain usage.
Flow
Chia demand Higher activity could create structural demand for blockspace.
Demand
Important This is a forward-looking scenario, not a confirmed rollout schedule.
Forward-Looking
Revenue Watch

Chia Network IPO Outlook

The Permuto Trusts are expected to play a key role in enabling Chia Network’s IPO. Once the first trusts go live and begin generating revenue, Chia will be able to demonstrate real financial performance in its filings.

IPO Watch

According to recent statements, only a short period of measurable Permuto revenue may be needed before analysts and institutional investors can properly evaluate the model.

🚀 Expected timeline: IPO targeting Q4 2026 after initial Permuto Trusts go live and revenue is reflected.
Network Roadmap

Chia Network Timeline

Separate roadmap view for key Chia Network milestones across 2026–2027, including software upgrades, network transition, and the next halving cycle.

Chia Network
Period Event Description
Spring 2026 Chia 3.0 Release Launch of the new software suite, including advanced plotting tools and final technical standards for Proof of Space 2.0.
H2 2026 Pre-Halving Sentiment Market attention may build ahead of the 2027 halving, alongside potential updates related to the S-6 and IPO trajectory.
Soon 2026 Chia Gaming Launch The full launch of Chia Gaming is expected during 2026.
November 2026 Hard Fork Activation Block 9,562,000 marks the start of the Plot v2 transition, with farmers beginning gradual replotting into the updated format.
This section is a roadmap-style reference and should be treated as an informational timeline rather than a guarantee of execution dates.
Protocol Event

Next Chia Halving

March 7, 2027
Upcoming
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Halving ETA date: 2027-03-07
XCH Emissions

XCH Issuance Schedule

EOY means End of Year.

Supply Table
Mainnet launch · March 19, 2021
Swipe to view years
EOY 1 (2021) EOY 2 (2022) EOY 3 (2023)
Farming rewards 3,363,840 3,363,840 3,363,840
Cumulative farming rewards 3,363,840 6,727,680 10,091,520
Farming % of all XCH 13.81% 24.26% 32.46%
Running total XCH 24,363,840 27,727,680 31,091,520
Halving · March 2024
Swipe to view years
EOY 4 (2024) EOY 5 (2025) EOY 6 (2026)
Farming rewards 1,681,920 1,681,920 1,681,920
Cumulative farming rewards 11,773,440 13,455,360 15,137,280
Farming % of all XCH 35.92% 39.05% 41.89%
Running total XCH 32,773,440 34,455,360 36,137,280
Halving · March 2027
Swipe to view years
EOY 7 (2027) EOY 8 (2028) EOY 9 (2029)
Farming rewards 840,960 840,960 840,960
Cumulative farming rewards 15,978,240 16,819,200 17,660,160
Farming % of all XCH 43.21% 44.47% 45.68%
Running total XCH 36,978,240 37,819,200 38,660,160
Halving · March 2030
Swipe to view years
EOY 10 (2030) EOY 11 (2031) EOY 12 (2032)
Farming rewards 420,480 420,480 420,480
Cumulative farming rewards 18,080,640 18,501,120 18,921,600
Farming % of all XCH 46.26% 46.84% 47.40%
Running total XCH 39,080,640 39,501,120 39,921,600
Final halving · March 2033
Swipe to view years
EOY 13 (2033) EOY 14 (2034) EOY 15 (2035) EOY 16 (2036) EOY 17 (2037)
Farming rewards 210,240 210,240 210,240 210,240 210,240
Cumulative farming rewards 19,131,840 19,342,080 19,552,320 19,762,560 19,972,800
Farming % of all XCH 47.67% 47.95% 48.22% 48.48% 48.75%
Running total XCH 40,131,840 40,342,080 40,552,320 40,762,560 40,972,800
Trailing emissions · March 2034
Swipe to view years
EOY 18 (2038) EOY 19 (2039) EOY 20 (2040) EOY 21 (2041) EOY 22 (2042)
Farming rewards 210,240 210,240 210,240 210,240 210,240
Cumulative farming rewards 20,183,040 20,393,280 20,603,520 20,813,760 21,024,000
Farming % of all XCH 49.01% 49.27% 49.52% 49.78% 50.03%
Running total XCH 41,183,040 41,393,280 41,603,520 41,813,760 42,024,000
50 Year Total XCH 47,910,720
Swipe to view columns
BTC XCH
First Halving Period 10,500,000 10,091,520
Second Halving Period 5,250,000 5,045,760
Third Halving Period 2,625,000 2,522,880
Fourth Halving Period 1,312,500 1,261,440
End of Year 11* 18,593,393 18,501,120
Market Catalyst Watch

Potential Major Exchange Listings

A possible listing on a top-tier exchange could become one of the most meaningful market catalysts for XCH before the end of 2026.

Speculative Watch
Scenario
Potential XCH Listings by End of 2026

New exchange access could improve visibility, liquidity, accessibility, and overall market participation for XCH.

Binance
High-impact watch
Coinbase
High-impact watch
Kraken
Major liquidity watch
Bybit
Derivatives / liquidity watch
Why it matters Broader exchange access can materially improve market reach and trading activity.
Catalyst
Monitoring window Tracking potential listing developments through December 2026.
2026 Watch
Important This is a speculative watchlist only, not a confirmed exchange roadmap or announced plan.
Unconfirmed
Exchange listing decisions are made independently by each platform and may never occur.
Live XCH Metric

Current XCH Circulating Supply

Live estimate pulled automatically from spacescan.io

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XCH in circulation
XCH Price
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Market Cap
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Source
SpaceScan
Refresh
Every 2 hours
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Informational only. API availability and response format may change over time.
Business Whitepaper

CNI Investors & Funding

Capitalization and ownership notes reported in CNI Business Whitepaper v2.0.

As of Feb 2, 2022
Capital raised
$77M

CNI reported approximately $77M raised across four financing rounds. The last round was $61M, raised shortly before transaction launch in May 2021.

Source: Chia-Business-Whitepaper-2022-02-02-v2.0, page 35, Capitalization section.
Last round
$61M before May 2021 transaction launch
Convertible note
$10M uncapped note from a strategic partner
Investor group
Listed 5%+ stockholders: 23.4%
Largest listed investor
Slow Ventures affiliates: 8.6%
Funding composition: equity vs. note
Equity rounds
$77M
Series D
$61M
Convertible note
$10M
The $10M strategic partner note is shown separately because it was not part of the four equity financing rounds. Note, not equity
Named investors
Richmond Global Ventures a16z Crypto Slow Ventures Naval Ravikant Breyer Capital Collaborative Fund IDEO Colab True Ventures Galaxy Digital Cygni Capital Greylock Partners DCM Metastable StillMark Capital Kamal Ravikant
Historical company capitalization information from the February 2, 2022 whitepaper. It may not reflect later financing, ownership, or disclosure changes.
Beneficial Ownership

Chia Network Inc. Major Holders Before Offering

Source: Amendment No. 2 to Draft Registration Statement on Form S-1, submitted August 12, 2024. CIK: 0001730166.

Before offering
Largest named holder
Bram Cohen: 36.8%
Officers & directors
10,014,868 shares, 49.6%
Largest 5%+ stockholder
Slow Ventures affiliates: 8.6%
Swipe to view columns
Name of beneficial owner Shares before offering % before offering
Named executive officers and directors
Bram Cohen 6,937,814 36.8%
David Frazee 1,574,926 8.3%
Gene Hoffman, Jr. 1,046,470 5.3%
Misha Grabol 245,833 1.3%
Thomas C. Chow 147,118 *
Chuck Stoops 57,499 *
Effie Datson 2,708 *
Noor Menai 2,500 *
Subtotal listed <1% officers/directors 209,825 ~1.0%
All executive officers and directors as a group 10,014,868 49.6%
Other 5% or greater stockholders
Entities affiliated with Slow Ventures 1,619,611 8.6%
Entities affiliated with Richmond Global Ventures 1,574,926 8.3%
Entities affiliated with AngelList-Ravikant 1,218,851 6.5%
Total listed 5%+ stockholders 4,413,388 23.4%
Other non-listed stockholders ~5,450,000 ~27.0%
Asterisk indicates less than 1%. Other non-listed stockholders are estimated as the remainder after listed officers, directors, and 5%+ stockholders.