Tail Emission

Instead of letting the subsidy reach zero like Bitcoin will around 2140, tail-emission chains guarantee miners a perpetual minimum payment. Monero activated its 0.6 XMR tail in May 2022; inflation declines asymptotically (below 1% annually and falling forever) while the security budget never disappears.

The design sidesteps an open question for Bitcoin's far future — whether transaction fees alone can fund adequate security. For miners, tail emission means revenue predictability: no halving cliffs, ever.