What is the issuance and circulating supply of Highstreet (HIGH) coins

The initial issuance of Highstreet (HIGH) coins was primarily through an ICO in August 2021, with approximately 30 million HIGH sold at $0.25 per coin, comprising 30% of the total supply.

Dec 16, 2024 at 07:50 am

Understanding the Issuance and Circulating Supply of Highstreet (HIGH) Coins

Highstreet (HIGH) is a utility and governance token that powers the Highstreet metaverse, an immersive virtual world where users can socialize, shop, play games, and access exclusive experiences. The total supply of HIGH coins is capped at 100 million, and the current circulating supply is approximately 67 million.

Issuance of HIGH Coins:

1. Initial Coin Offering (ICO): The initial issuance of HIGH coins occurred through an ICO held in August 2021. Approximately 30% of the total supply (30 million HIGH) was sold during the ICO at a price of $0.25 per coin.
2. Private Sales: Before the ICO, Highstreet conducted private sales to strategic investors and early backers. These private sales accounted for an additional 15% of the total supply (15 million HIGH).
3. Ecosystem Fund Allocation: 10% of the total supply (10 million HIGH) has been allocated to the Highstreet ecosystem fund, which supports the development and growth of the metaverse.
4. Team and Advisors: 20% of the total supply (20 million HIGH) has been allocated to the Highstreet team and advisors as rewards for their contributions to the project.

Circulating Supply:

1. Unlocked Coins: At the time of launch, approximately 50% of the total supply (50 million HIGH) was released into circulation. This included coins sold during the ICO, private sales, and coins allocated to the team and advisors that had been unlocked over time.
2. Locked Coins: The remaining 50% of the total supply (50 million HIGH) has been locked and released gradually over time through mechanisms such as staking and ecosystem incentives. These locked coins are released on a monthly basis until the full 100 million HIGH coins are in circulation.
3. Burned Coins: A portion of HIGH coins generated through in-game transactions and other activities are burned periodically, reducing the total circulating supply. This mechanism helps maintain the value of HIGH coins and rewards active users of the metaverse.

Implications of Issuance and Circulating Supply:

1. Market Value: The issuance and circulating supply of HIGH coins influence the token's market valuation. A high circulating supply dilutes the value of each coin, while a limited circulating supply can increase its scarcity and value.
2. Liquidity: A high circulating supply ensures that there is sufficient liquidity for trading and exchange. This is important for the stability and accessibility of the token.
3. Staking and Rewards: HIGH coins can be staked to earn rewards, such as additional HIGH coins or access to exclusive benefits. A limited circulating supply can increase the potential rewards for staking.
4. Tokenomics: The issuance and circulating supply policies are an integral part of the Highstreet tokenomics. They shape the value, liquidity, and distribution of HIGH coins, which can have long-term implications for the success of the metaverse.