# Reward channels supply a small share of first sales

Emission, reward-distributor and bribe tags supply about 5.5% of CRV in the full first-sale accounts.

Most sold inventory therefore enters through other channels, chiefly earlier purchases and exchange withdrawals.

The measured reward-distributor category includes staking withdrawals that can return principal. It describes a transfer channel, rather than proving every transferred token was earned as a reward.

## Reward-channel shares agree when all sale paths are included

Combined direct emission, reward-distributor and bribe tags, weighted by CRV units. The first population retains principal-resolved first sales; the second includes unresolved-principal sale paths. Principal-resolution conventions differ between the books. Every bar keeps its stated denominator.

[Figure](../charts/engine_scope.svg) · [Data](../data/engine_scope.csv)

| Observation | FIFO (% of first-sale CRV) | Proportional (% of first-sale CRV) |
| --- | --- | --- |
| Resolved trading addresses | 5.7563 | 3.8866 |
| All sale paths | 5.5524 | 5.5345 |

## Measurement

Including unresolved-principal paths, the first-sale shares are 5.55% under FIFO and 5.53% under proportional accounting. Among principal-resolved sales alone, they are 5.8% and 3.9%. The released books use different principal-resolution conventions. These are source-account shares, not shares of all pool volume; the evidence index links both populations.