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What is the issuance and circulation of Artyfact (ARTY) coins?
Issuance of ARTY is capped at 1 billion tokens with 500 million currently in circulation, used for staking, marketplace fees, and metaverse access.
Dec 06, 2024 at 04:26 pm
What is the Issuance and Circulation of Artyfact (ARTY) Coins?
Introduction
Artyfact (ARTY) is a decentralized autonomous organization (DAO) and blockchain platform that aims to empower collectors, gamers, and artists through the use of non-fungible tokens (NFTs) and the metaverse. The ARTY token is the native cryptocurrency of the Artyfact ecosystem, and it plays a crucial role in the platform's operations.
Issuance
- The total supply of ARTY tokens is 1 billion.
- The initial token distribution was conducted through a public sale and a seed round.
- A portion of the tokens are allocated to the Artyfact Foundation, which will oversee the development and governance of the platform.
Circulation
- As of [date], there are approximately 500 million ARTY tokens in circulation.
- The circulating supply is expected to increase over time as more tokens are released through staking rewards and other mechanisms.
- The price of ARTY is determined by supply and demand on cryptocurrency exchanges.
Tokenomics
ARTY tokens are used for various purposes within the Artyfact ecosystem, including:
- Staking: Holders of ARTY tokens can stake them to earn rewards and participate in governance.
- Marketplace fees: Users can use ARTY tokens to pay transaction fees on the Artyfact NFT marketplace.
- DAO governance: ARTY token holders have the right to vote on proposals that affect the development and governance of the Artyfact platform.
- Metaverse access: ARTY tokens will be used to grant users access to exclusive areas and experiences within the Artyfact metaverse.
Additional Considerations
- The issuance and circulation of ARTY tokens are governed by a set of smart contracts that ensure the transparency and fairness of the process.
- The Artyfact team is committed to maintaining a healthy and sustainable token economy by regularly monitoring the circulating supply and implementing measures to prevent inflation.
- The value of ARTY tokens is ultimately determined by the adoption and utility of the Artyfact platform and its NFTs within the broader blockchain and metaverse ecosystem.
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