What is the issuance and circulation of MINA coins?

With a total supply capped at 845,948,192 tokens, MINA's circulation supply stands at around 648.5 million, distributed among holders and used for staking, incentives, and maintaining network security through proof-of-stake validation. (153 characters)

Oct 30, 2024 at 10:47 am

MINA Coin Issuance and Circulation

1. Tokenomics

MINA (previously known as Coda) is a cryptocurrency that aims to solve the blockchain size and synchronizing issues associated with traditional blockchain networks. It employs a unique consensus mechanism called the "Ouroboros Samasika" protocol, ensuring both security and scalability.

2. Coin Issuance

The total supply of MINA is capped at 845,948,192 coins.
An initial 134.7 million MINA tokens were issued during the initial coin offering (ICO) in May 2018.
Subsequent token issuances have occurred through token generation events and mining rewards.

3. Circulation

As of February 2023, the total circulating supply of MINA is around 648.5 million tokens (approximately 76.7% of the total supply).
MINA tokens are widely distributed among holders, with the largest concentration held by the Mina Foundation (approximately 32%).
The remaining tokens are distributed among miners, early investors, and users through staking, airdrops, and other incentives.

4. Mining

MINA employs a proof-of-stake consensus mechanism, where coin holders validate transactions and secure the network.

Validators stake their MINA tokens to participate in the consensus process and earn rewards.
The stake required to become a validator varies based on the total number of staked tokens in the network.
Rewards are distributed proportionally to the size of each validator's stake.

5. Additional Notes

Unlike standard blockchains, MINA's "Ouroboros Samasika" protocol allows for easy and fast synchronization, regardless of the blockchain's size.
The "Snapps" (Smart Contracts that Adapt and Perform Simultaneously) platform enables developers to create and deploy dApps built on the Mina blockchain.
MINA is currently listed on several major cryptocurrency exchanges, including Binance, Coinbase, and OKX.

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