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What is the issuance amount of XEM coins?
The total issuance amount of XEM coins is 8,999,999,999, with an initial issuance of 50% at the NEM blockchain's launch and the remaining 50% released gradually over 10 years.
Nov 22, 2024 at 08:56 pm
What is the Issuance Amount of XEM Coins?
XEM is the native cryptocurrency of the NEM blockchain platform. It is used to pay transaction fees, vote on network proposals, and stake for rewards. The total issuance amount of XEM coins is 8,999,999,999.
Issuance Schedule
The XEM issuance schedule is designed to gradually release new coins into circulation over time. The initial issuance of 8,999,999,999 XEM was divided into two tranches:
- 50% (4,499,999,999 XEM) was released at the launch of the NEM blockchain in March 2015.
- The remaining 50% (4,499,999,999 XEM) is being released gradually over a period of 10 years, starting from the network's launch.
Annual Issuance
The annual issuance of XEM coins is determined by a formula that takes into account the current supply and the target inflation rate. Initially, the inflation rate was set to 5%, but it has since been reduced to 3%. This means that the issuance amount decreases each year.
Current Supply
As of June 2023, the circulating supply of XEM coins is approximately 9,246,743,750. This includes both the initial issuance and the coins that have been released through the annual issuance schedule.
Purpose of Issuance
The issuance of XEM coins serves several purposes:
- Transaction fees: XEM coins are used to pay for transaction fees on the NEM blockchain. This revenue helps to support the network and incentivize miners to maintain the blockchain.
- Voting: XEM holders can vote on network proposals, such as changes to the blockchain protocol or the addition of new features. The more XEM coins a holder has, the greater their voting power.
- Staking: XEM holders can stake their coins to receive rewards. Staking helps to secure the network by encouraging users to hold their coins and participate in the consensus process.
Impact on Coin Value
The issuance of XEM coins can have an impact on the coin's value. If the supply of XEM coins increases faster than demand, the price of the coin could decrease. However, if demand for XEM coins outpaces the rate of issuance, the price could increase. It is important to note that the issuance schedule is only one factor that affects the price of XEM coins. Other factors, such as market sentiment and the adoption rate of the NEM blockchain, can also have a significant impact.
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