What is the issuance amount of HIVE coins?

The initial public offering of HIVE in 2016 issued 133.2 million HIVE tokens, representing 40% of the total supply.

Dec 01, 2024 at 07:00 am

What is the Issuance Amount of HIVE Coins?

HIVE is a blockchain-based platform for social media content curation and rewards. It is powered by the HIVE cryptocurrency, which serves as a medium of exchange, payment for services, and staking rewards within the HIVE ecosystem.

1. Initial Public Offering (IPO)

• HIVE was initially launched in 2016 through an Initial Public Offering (IPO) that raised approximately $4 million.
• During the IPO, 133.2 million HIVE tokens were issued, representing 40% of the total supply.
• The remaining 60% of the tokens were allocated to team members, early adopters, and a reserve fund.

2. Block Rewards

• New HIVE coins are created through a process called block rewards, which are distributed to users who successfully validate blocks on the HIVE blockchain.
• Initially, 9% of all block rewards were allocated to content creators and curators.
• This percentage was later reduced to 1.95% to maintain the long-term sustainability of the platform.

3. Witness Rewards

• Witnesses are responsible for maintaining the integrity of the HIVE blockchain by validating transactions and securing the network.
• They receive HIVE token rewards for their contributions to the network.
• The amount of witness rewards is determined by the number of HIVE tokens staked by each witness.

4. Staking Rewards

• Users can stake their HIVE tokens to earn interest and support the HIVE blockchain.
• Staking rewards are distributed proportionally to the amount of HIVE tokens staked by each user.
• Staking also provides users with voting power to influence platform decisions and governance.

5. Content Rewards

• HIVE users can earn HIVE tokens for creating and curating content on the platform.
• The value of these rewards is determined by the upvotes received on posts and comments.
• Content rewards incentivize users to create high-quality content and contribute to the growth of the HIVE community.

6. Dapps and Services

• Various decentralized applications (dapps) and services have been developed on the HIVE blockchain.
• These dapps and services often offer rewards to users for participating in their ecosystems.
• This includes rewards for tasks such as liquidity provision, governance participation, and content creation.

7. Community Funds

• A portion of the HIVE blockchain's block rewards is allocated to a community fund.
• This fund is used to support projects and initiatives that benefit the HIVE ecosystem.
• Community members can vote to determine how the funds are allocated.

8. Governance Token

• HIVE serves as a governance token within the HIVE ecosystem.
• Holders of HIVE tokens can vote on proposals to improve the platform and make decisions on its future development.
• This ensures that the platform remains decentralized and responsive to the needs of its community.