When was the Altura (ALU) coin issued?

The Altura (ALU) coin was initially issued in November 2021 through an initial coin offering (ICO), raising approximately $22 million.

Dec 04, 2024 at 05:28 pm

When was the Altura (ALU) Coin Issued?

Introduction

Altura (ALU) is a blockchain-based platform designed to revolutionize the real estate industry by tokenizing real-world properties and facilitating secure and transparent transactions. Launched in 2021, the ALU coin serves as the native currency of the Altura ecosystem, providing a medium of exchange, governance rights, and utility within the platform. In this article, we will delve into the history and issuance details of the Altura (ALU) coin, exploring its origins, distribution mechanisms, and market performance.

Issuance Details

• Initial Coin Offering (ICO): Altura conducted its ICO in November 2021, raising approximately $22 million in funding. During the ICO, a total of 100,000,000 ALU coins were sold, representing 10% of the total supply.

• Allocation: The distribution of ALU coins upon ICO was as follows:

  • ICO Participants: 60%
  • Team and Advisors: 15%
  • Reserve: 15%
  • Ecosystem Development: 10%
• Tokenomics: The total supply of ALU coins is 1 billion, with a circulating supply of approximately 100 million as of March 2023. The distribution of tokens aims to ensure a fair and equitable allocation among participants and key stakeholders.

Market Performance

• Listing on Exchanges: ALU was initially listed on decentralized exchanges such as Uniswap and PancakeSwap. Later, it gained wider adoption and was listed on centralized exchanges like Binance and Huobi.
• Price History: The ALU coin experienced significant price volatility in its early days, reflecting the broader market conditions and the maturing of the real estate tokenization industry. Initially priced at around $0.22 during the ICO, ALU reached an all-time high of $0.78 in May 2022. However, the market downturn later in the year led to a decline in its value.
• Current Price: As of March 2023, the ALU coin is trading at approximately $0.15, exhibiting signs of consolidation and potential future growth. The market capitalization of ALU stands at around $15 million.

Utility and Value Proposition

• Transaction Medium: ALU serves as the native currency for all transactions within the Altura ecosystem, including the tokenization of real-world properties, purchase of NFTs representing property deeds, and payments for various services.
• Governance Rights: ALU holders have the right to participate in the governance of the Altura platform through voting on key decisions and proposals related to the ecosystem's development.
• Rewards and Incentives: ALU can be used to pay for transaction fees and earn rewards through participation in staking programs and liquidity pools, providing additional utility and value for holders.

Conclusion

The Altura (ALU) coin was issued in November 2021 through an ICO, raising approximately $22 million in funding. The tokenomics of ALU include a total supply of 1 billion and a circulating supply of approximately 100 million. The coin has experienced price volatility in its early stages but remains an integral part of the Altura ecosystem, providing a medium of exchange, governance rights, and utility for users. As the real estate tokenization industry matures, ALU is poised to play a significant role in shaping the future of digital real estate transactions.