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What is the issuance amount of NEXO coins?
With a fixed issuance amount of 1 billion NEXO coins, the platform ensures a finite supply, influencing the value and scarcity of its cryptocurrency.
Nov 22, 2024 at 06:22 am
What is the Issuance Amount of NEXO Coins?
Introduction
NEXO is a cryptocurrency that powers the Nexo platform, a leading provider of instant crypto-backed loans and other financial products. NEXO coins are used to pay for loan interest, earn rewards, and participate in governance decisions on the platform. The issuance amount of NEXO coins is an important factor in determining their value and scarcity.
Issuance Amount
The total issuance amount of NEXO coins is 1 billion. This means that there will never be more than 1 billion NEXO coins in circulation. The issuance amount is fixed and cannot be changed by the Nexo team.
Distribution of NEXO Coins
The NEXO coins are distributed as follows:
- Pre-sale: 20%
- Public sale: 60%
- Team and advisors: 10%
- Ecosystem and development: 10%
Pre-sale
The pre-sale of NEXO coins was held in 2017. A total of 125 million NEXO coins were sold in the pre-sale, raising $52.5 million.
Public sale
The public sale of NEXO coins was held in 2018. A total of 500 million NEXO coins were sold in the public sale, raising $150 million.
Team and advisors
The Nexo team and advisors hold 10% of the total issuance amount, or 100 million NEXO coins. These coins are used to support the long-term development of the Nexo platform.
Ecosystem and development
The Nexo platform is supported by a dedicated ecosystem and development fund, which holds 10% of the total issuance amount, or 100 million NEXO coins. These coins are used to fund research and development initiatives, as well as to support the growth of the Nexo ecosystem.
Conclusion
The issuance amount of NEXO coins is an important factor in determining their value and scarcity. The total issuance amount is fixed at 1 billion coins, and the coins are distributed to various stakeholders, including the pre-sale participants, public sale participants, team and advisors, and the ecosystem and development fund. This distribution ensures that the NEXO platform has a strong foundation and a long-term vision for growth.
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