Constellation (DAG)
Constellation ranks #128 of 484 cryptocurrencies. On a list that also counts tokens, memecoins, wrapped coins, staked derivatives and stablecoins it appears at #958: 830 of the 957 assets ahead of it are not native coins but tokens or claims. A token is issued on a host blockchain rather than running its own; a claim stands for an asset already counted. Of the 984 non-native assets CoinSpectrum lists above it by market cap, about 56% are tokens, 34% are claims on other assets, 9% are memecoins and 1% are NFT collections.
| CoinSpectrum Grade | B · 52/100 · provisional, C to B |
|---|---|
| Rank among cryptocurrencies | #128 |
| Rank counting claims | #958 |
| Market capitalisation | $15M |
| Price | $0.00382 |
| Circulating supply | 3,947,436,724 DAG |
| Maximum supply | no fixed cap |
| Consensus family | Proof of Stake |
| Consensus mechanism | Proof of Reputable Observation (Hypergraph) |
| Ledger type | Multi-asset ledger |
| Launch distribution | Presale |
Market figures from the 10 November 2026 build. Open the live view for every exchange's price, and charts.
CoinSpectrum Grade (Source)
B — 52 out of 100, provisional (from 10 of 10 sections, 10 November 2026 build). With what is not yet measured anywhere from nothing to full marks, the score would be 45 to 59 (C to B).
| Section and criteria | Score | Basis |
|---|---|---|
| Consensus | 9.1 | average of 2 criteria |
| By leader (its largest chain's market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of consensus families ranked by their largest chain's market cap |
| By family (all its chains' market cap) (Source) | 9.1 | Proof of stake: 9.1 of 10 on the ladder of families ranked by the combined market cap of their chains |
| Supply | 6.9 | the supply scale times 0.9, and a point for a fixed cap that holds |
| Supply (21 million scores 10) | 7.7 | no fixed maximum; 3.95 billion in circulation |
| Distribution | 6.4 | average of 2 parts |
| Holder concentration (Source) | – | Not yet measured |
| Active addresses | – | Not yet measured |
| Premine (allocated at launch) | 4.6 | 53.6% of today's supply allocated at launch to founders, a company, a foundation or investors. Original 4B ERC-20 allocation: partners and advisors 537.065M, private sale 730.125M, community (including the 30M airdrop) 80M, foundation 764.81M, founders 288M (burned July 2019); validator rewards pool 40% (1.6B). Insider total after the founder burn is 2,112.0M, against current supply of 3,941.1M (CoinGecko, 2026-10-23). source |
| Fundraising (share sold) (Source) | 8.1 | Sold by its issuer or insiders: 18.5% of supply sold. 2018 private round: 730.12M DAG at about $0.046 for about $33.7M (DropsTab; investors include MW Partners, Connect Capital, TLDR Capital, ChainRock). CoinCodex lists a $0.034 price and a hard cap of about $33.7M. source |
| Developer share (after launch) | – | Developer share: 55% of each new block reward goes to them today. Since 16 Oct 2026 (tessellation v3.6.0, epoch 2,913,350) the fixed 2%/yr emission is split Protocol wallet 30%, Stardust Treasury 10% and AI Inference 15% (both to the Stardust Collective's primary wallet), validators 10% and delegators 35%, so 55% is a cut. Under the earlier Metanomics model (from Q1 2025) the split was Protocol 30% (ramping up 6%/quarter with the Foundation taking the rest during the ramp) and Stardust Collective 5% (a 35% cut), plus a flat 3% inflation to delegators; before that, a 'Stardust tax' of 10% (7% from Aug 2024) went to the Stardust Collective out of validator rewards. The cumulative share is not established; the Metanomics period alone gives roughly 35% of ~200M variable emission = ~70M, ~1.8% of 3,941M supply, as a floor. source |
| Decentralisation | 4.3 | average of 3 parts |
| Governance (Source) | 10 | No authority can halt the chain or freeze funds: The Metanomics and network docs describe no freeze or blacklist power over DAG balances. source |
| No central team (Source) | 0 | A central team directs it: Constellation Network, Inc. maintains the only node software, Constellation-Labs/tessellation (Apache-2.0). source |
| Who can mint (Source) | 3 | Gated by representatives: witnesses or representatives chosen by weight confirm the ledger |
| Nodes (Source) | – | Not yet counted |
| Security | 4.7 | 2.8 of 6 points, 2 not yet measured source |
| Pool diversity (Largest pool 50% 0 to 20% 10, largest three 90% 0 to 50% 10; 2 points) | – | |
| Network activity (Transactions a day, 250 0, 500,000 or more 10; 2 points) | 0 | about 185 transactions a day |
| Hashrate (Own work 5, its power 1 kW 0 to 10 GW 5; 1 point) | 1 | not mined: another consensus, 1 |
| Clients (Separate code and teams 10, separate code or teams 9, a fork by the same team or a stale second 8; one client: a new version within 12 months 7, 24 months 6, none in 24 months 5, none in 48 months 3; a second in development +0.5, a second seen running +1, 8 at most with one client; chain ended 0; 1 point) | 7 | one client, latest version Oct 2026 |
| Open source (Node software) | ✓ | |
| No 51% attack (Nor a deep reorganisation, five years) | ✓ | |
| Scalability | 4.6 | average of 3 parts source |
| Fees ($0.001 or less 10, $1 or more 0) | 10 | typical fee $0 |
| Throughput (2,478 a second, the busiest network's peak day, 10; 121, the median of the ten busiest, 5) | – | not yet measured |
| Block time (10 minutes 10, less either side) | 3.7 | a block every 10.5 seconds |
| Block space per 10 minutes (24 MB or more 10: the ten busiest networks' median demand, 16.4 MB, and half again for growth) | – | not yet measured |
| Features (3 checks) | 0 | 0 of 1 passed, 2 not yet researched |
| Fast payments (Safe to accept within seconds · Whitepaper abstract, §1, §2 and §11) | ✗ | Global L0 snapshots that finalise transactions arrive about every 11 s (100,000 ordinals in 12.9 days). |
| Pruned nodes (Old history dropped, every rule checked · Whitepaper §7) | – | Not established. |
| Light clients (Payments verified from headers · Whitepaper §8) | – | Not established. |
| Privacy | 3.5 | 3.5 of 10: whitepaper privacy 3.5 of 7, extra features 0 of 3, 1 not yet researched source |
| Protocol level privacy (Keys not tied to an identity · Whitepaper §10) | 10 | Anyone can create keys and receive and send coins; the protocol carries no identity check. |
| UTXO ledger (Separate outputs, change to a new address · Whitepaper §2, §9) | 0 | An account ledger: one running balance for each address, so the remainder stays at the sending address and its payments share one public history. |
| HD addresses (A new address for each payment, unlinked · Whitepaper §10) | – | |
| Hidden amounts (Amounts confidential) | 0 | Transfers are public. |
| Hidden parties (Sender and receiver hidden) | 0 | Addresses are public. |
| Network privacy (Origin hidden by default) | 0 | Tessellation nodes gossip transactions directly; no Dandelion or built-in Tor. |
| Programmability | 0 | 0 of 9 points source |
| Token issuance | 0 | No token issuance on the chain itself |
| Smart contracts | 0 | The Global L0 and DAG L1 carry fixed transaction types (transfers, AllowSpend and SpendTransaction, TokenLock); programmable logic runs on metagraphs, which are separate networks. |
| Multisig and time locks (Without a third party) | ✗ | TokenLock locks funds for a duration, but no native multisig exists; multisig wallets are a metagraph-managed use case. |
| Atomic swaps (With other chains) | ✗ | No hash lock on L0; token swaps through AllowSpend rely on a metagraph as delegate. |
| Native DEX (Trades the coin itself, not a claim) | ✗ | No DEX found trading the coin itself: none on its own chain (DefiLlama), and not on THORChain, Maya, Chainflip, Komodo DeFi, BasicSwap, Bisq or Haveno (checked 2026-11-04). |
| Cross-chain messaging (Verified by the chain itself) | ✗ | Metagraphs anchor snapshots to the Hypergraph, but no messaging to external chains. |
| NFTs (Carried by the chain's rules) | ✗ | NFTs are issued on metagraphs, not by the Global L0. |
| Demand | 4.6 | average of 7 measures |
| Exchanges (10 or more: 10) | 5 | 5 exchanges |
| Daily volume ($10K 0, $1B or more 10) | 2.5 | $171,023 traded in 24 hours; #1237 by volume on the exchanges the site reads (scored on the median day of the last 30, $183,408) |
| Turnover (volume ÷ market cap, 5% a day: 10) | 5.9 | 0.85% of its market cap a day, median of the last 30 days |
| Order-book depth (±2% of the price ÷ market cap, 1%: 10) | 5.2 | $5,323 within 2% of the price on 3 exchanges, 0.04% of its market cap, median of the last 15 days |
| Market cap ($1M 0, $10B or more 10) | 2.9 | $15M, 2.9 on a scale of 2.5 points per tenfold |
| Paper trading (futures, options and margin ÷ market cap, 0%: 10, 100%: 0) | 10 | no futures, options or margin on the exchanges read |
| Wallet support (wallets that hold it, 10 or more: 10) | 1 | its own node and wallet, counted as 1: no wallet in the site's directory lists it yet |
| Record | 8.3 | average of 3 criteria |
| Age (years since genesis) (Source) | 8 | 8 full years since 2018-06-20, the first day with a recorded price (genesis not yet researched, so the age can only be understated). |
| Development (work, fixes, vulnerabilities) | 7 | 2 positive, 0 negative source |
| Positive | ||
| Steady work, 6 of 6 | ✓ | 760 commits in 12 of the last 12 months (github.com/Constellation-Labs/tessellation); Constellation-Labs/tessellation 3.6.1, 2026-10-20; 62 stable releases in 24 months. |
| Shipped a new capability for users in two years, +1 | ✓ | Tessellation 3.x on mainnet (2025–2026): allow-spends with global settlement (fixed in 3.5.29, Aug 2026) and metagraph tokens such as USDC.dag. |
| Conduct (origin, claims, halts) | 10 | 3 positive, 0 negative source |
| Positive record | ||
| Launched with a stated purpose, not as a joke | ✓ | |
| No claims by its founders that contradict its own design | ✓ | |
| No halt, freeze or reversal in five years | ✓ | |
Ten sections, weighted equally, each 0 to 10: consensus (the two ladders), supply (the supply scale and a fixed cap that holds), distribution (premine, fundraising, developer share, holders), decentralisation (governance, no central team, who can mint, nodes), security, scalability, privacy, programmability (what the scripting layer can do beyond the whitepaper's payment system), demand, and record (age, development, conduct). They are built from the criteria in the second table: privacy, scalability, security and decentralisation are the Cryptocurrency Standards among them, as follows: privacy (the whitepaper's three checks a base of 7 of 10, three extra features up to 3 more), scalability (four measures and three features), security (pool diversity, network activity, hashrate, clients and two checks) and decentralisation (governance, no central team, who can mint, nodes, holders, premine, fundraising and developer share); programmability (token issuance, smart contracts and five checks) follows them, and supply and demand are two: the supply, scored against 21 million, and demand, the average of seven measures of the market and the wallets. Provisional: parts marked — are not yet measured and are left out of the average. A rating of structure and market depth, not a price forecast or investment advice. How the grade is built · Highest-graded cryptocurrencies.
Proof of Stake coins
Ethereum 
BNB 
Solana 
tx 
Symbol 
Divi 
Fogo Proof of Work coins
Bitcoin BTCA+
Zcash ZECA+
Dogecoin DOGEA+
Monero XMRA+
Bitcoin Cash BCHA++
Litecoin LTCA+
Ethereum Classic ETCAAll Proof of Work chains →Supply
3,947,436,724 DAG are in circulation, against no fixed cap — issuance has no defined end.
Launch and allocation
| Premine (allocated at launch) | 53.6% of today's supply |
|---|---|
| Sold by the issuer or insiders | 18.5% of today's supply |
| Developer share of new coins today | 55% |
| Fundraising | Private or venture funding |
Original 4B ERC-20 allocation: partners and advisors 537.065M, private sale 730.125M, community (including the 30M airdrop) 80M, foundation 764.81M, founders 288M (burned July 2019); validator rewards pool 40% (1.6B). Insider total after the founder burn is 2,112.0M, against current supply of 3,941.1M (CoinGecko, 2026-10-23).
2018 private round: 730.12M DAG at about $0.046 for about $33.7M (DropsTab; investors include MW Partners, Connect Capital, TLDR Capital, ChainRock). CoinCodex lists a $0.034 price and a hard cap of about $33.7M.
Since 16 Oct 2026 (tessellation v3.6.0, epoch 2,913,350) the fixed 2%/yr emission is split Protocol wallet 30%, Stardust Treasury 10% and AI Inference 15% (both to the Stardust Collective's primary wallet), validators 10% and delegators 35%, so 55% is a cut. Under the earlier Metanomics model (from Q1 2025) the split was Protocol 30% (ramping up 6%/quarter with the Foundation taking the rest during the ramp) and Stardust Collective 5% (a 35% cut), plus a flat 3% inflation to delegators; before that, a 'Stardust tax' of 10% (7% from Aug 2024) went to the Stardust Collective out of validator rewards. The cumulative share is not established; the Metanomics period alone gives roughly 35% of ~200M variable emission = ~70M, ~1.8% of 3,941M supply, as a floor.
Aggregators disagree on the supply base (3B, 3.71B or 3.89B) and on the private-sale price. Current supply (3.94B) is above the 3.712B post-burn total, so issuance has grown beyond the original model, and that new issuance is treated here as open validator rewards. soldPct = 730.12M / 3,941.1M.
Sources: github.com · github.com · docs.constellationnetwork.io · constellationnetwork.io · dropstab.com · coincodex.com. Researched 2026-10-24, medium confidence.
What a regulator has said
No SEC/CFTC determination — unclassified.
The regulator's position, reported as stated, not CoinSpectrum's. Assets nobody has ruled on are left unclassified rather than sorted by a guess.
How CoinSpectrum ranks Constellation
Constellation is #128 among cryptocurrencies and #958 in the market ranking, which lists wrapped coins, staked derivatives, stablecoins and tokens alongside them. CoinSpectrum counts an asset once, and counts only cryptocurrencies: assets with their own blockchain and their own consensus. A wrapped coin, a staked derivative or a stablecoin is a claim on something already counted; a token, memecoin or otherwise, runs on another chain's blocks. All of them are listed, each in its own section, and none is added to the total. The 830 places between Constellation's two ranks are held by claims and tokens, not by other networks. The methodology sets out the rule and the counting rule argues for it.
The price above is the median of the exchanges the site reads live, checked every minute and cross-checked against a market snapshot (how market data is gathered). The grade is scored on published criteria, each with its source (the method). The site is independent, nothing on it is a paid placement, and its statements are signed (about CoinSpectrum, the manifesto).
See the 1 wrapped and staked claim on Constellation →