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What is the issuance amount of SUPRA coins?
The total issuance amount of SUPRA coins, a proof-of-stake cryptocurrency, is capped at 10 billion, with an initial circulating supply of approximately 1 billion coins.
Dec 02, 2024 at 06:01 pm
What is the Issuance Amount of SUPRA Coins?
SUPRA is a decentralized, open-source cryptocurrency platform that utilizes a proof-of-stake consensus mechanism. The native cryptocurrency of the SUPRA platform is SUPRA coins, which are used to secure the network, pay transaction fees, and participate in governance. The total issuance amount of SUPRA coins is capped at 10 billion, with an initial circulating supply of approximately 1 billion coins.
Key Features of SUPRA Coins:
- Proof-of-Stake Consensus: SUPRA coins are primarily used for staking, which is the process of committing SUPRA coins to the network to validate transactions and secure the blockchain. Stakers receive rewards in the form of additional SUPRA coins for their contributions to the network's security.
- Transaction Fees: A small transaction fee is required to process transactions on the SUPRA network, and these fees are paid in SUPRA coins. The transaction fees help to cover the costs of maintaining the decentralized network and incentivize validators to stake their coins.
- Governance: SUPRA coins serve as governance tokens, allowing holders to participate in the decision-making process of the SUPRA platform. SUPRA coin holders can vote on proposed changes to the network's parameters, roadmap, and features.
Issuance Schedule of SUPRA Coins:
The issuance of SUPRA coins is governed by a pre-determined schedule, which ensures a gradual and controlled release of coins into the market. The issuance schedule is as follows:
- Initial Circulating Supply: The initial circulating supply of SUPRA coins is approximately 1 billion, which was released through a public token sale in 2018.
- Block Rewards: New SUPRA coins are minted as block rewards for validators who successfully validate blocks on the network. The block reward mechanism is designed to incentivize participation and secure the blockchain.
- Halving Events: The block rewards are halved every four years, similar to Bitcoin. The halving events reduce the issuance rate of SUPRA coins, gradually decreasing the rate of inflation.
- Coin Burn Mechanism: A portion of the transaction fees collected on the SUPRA network is used to purchase and burn SUPRA coins. The coin burn mechanism helps to control the supply of SUPRA coins and increase their scarcity over time.
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