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What is max supply?

The largest number of units of an asset that will ever exist, where the protocol sets a hard limit.

Some assets have a fixed cap written into their consensus rules — Bitcoin‘s 21 million is the best-known. Others have no cap and issue indefinitely, either at a fixed amount per block or under a policy that can change.

Why it matters: a cap is a monetary design choice, not automatically a virtue. Fixed supply supports a scarcity argument; uncapped issuance can fund ongoing security or usage. What matters more is whether issuance is predictable and whether anyone can alter it — a schedule enforced by consensus is a different thing from a policy administered by a company.

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