What is the issuance and circulation of MATIC coins?

With a circulating supply of 7.22 billion tokens, MATIC is one of the most widely traded cryptocurrencies, boasting a market capitalization of approximately $7 billion.

Oct 02, 2024 at 01:29 am

1. Initial Coin Offering (ICO)

Date: April 24, 2019
Total funds raised: $5.7 million
Number of MATIC tokens issued: 3.8 billion

The MATIC ICO was conducted through the Binance Launchpad platform.

2. Post-ICO Distribution

After the conclusion of the ICO, the MATIC tokens were distributed as follows:

Team: 20% (760 million tokens)
Advisors: 5% (190 million tokens)
Founders: 5% (190 million tokens)
Public: 70% (2.66 billion tokens)

3. Tokenomics

Token name: MATIC
Token symbol: MATIC
Blockchain: Polygon Network
Token type: Utility token
Total supply: 10 billion tokens
Circulating supply: 7.22 billion tokens (as of August 2023)

4. Token Use Cases

MATIC tokens are used to pay transaction fees on the Polygon Network. They can also be used for staking, which allows users to earn rewards for securing the network.

5. Trading and Market Value

MATIC is listed on numerous cryptocurrency exchanges, including Binance, Coinbase, and Kraken. As of August 2023, the circulating market capitalization of MATIC is approximately $7 billion, making it one of the top 10 cryptocurrencies by market capitalization.

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