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What is the issuance and circulation of Cartesi (CTSI) coins?
Cartesi (CTSI) issued 100 million tokens through an ICO in 2018, currently has a circulating supply of 389 million, and its total supply is 1 billion, with vestings ensuring a gradual release of tokens into circulation.
Dec 12, 2024 at 10:10 pm
What is the Issuance and Circulation of Cartesi (CTSI) Coins?
Cartesi (CTSI) is a decentralized operating system that allows developers to build and deploy high-performance, scalable blockchain applications. The CTSI token is the native utility token of the Cartesi platform, used for staking, transaction fees, and governance.
Issuance of CTSI Coins
- Initial Coin Offering (ICO): Cartesi distributed 100 million CTSI tokens through an ICO in 2018, raising approximately $11.6 million.
- Token Generation Event (TGE): The CTSI token was launched and distributed to ICO participants in November 2018.
- Private Sale: Cartesi allocated 20 million CTSI tokens for private investors, which were sold prior to the ICO.
Circulation of CTSI Coins
- Circulating Supply: As of April 2023, there are approximately 389 million CTSI tokens in circulation.
- Total Supply: The total supply of CTSI tokens is 1 billion, out of which 400 million tokens were reserved for future development and ecosystem growth.
- Vestings: A significant portion of the CTSI token supply is vested, with the majority of tokens locked up for 6-12 months after the TGE to ensure a gradual release into circulation.
Distribution of CTSI Coins
- Team and Advisors: 150 million CTSI tokens were allocated to the Cartesi team and advisors as compensation.
- Foundation: 100 million CTSI tokens were allocated to the Cartesi Foundation for research, development, and ecosystem support.
- Early Backers: 50 million CTSI tokens were allocated to early backers and supporters of the Cartesi project.
Tokenomics and Utility
- Staking: CTSI tokens can be staked to earn rewards and secure the Cartesi network. Stakers receive a percentage of transaction fees generated on the platform.
- Transaction Fees: CTSI tokens are used to pay for transactions within the Cartesi ecosystem, including the deployment and execution of dApps.
- Governance: CTSI token holders can participate in the Cartesi network's governance process, proposing and voting on changes to the protocol and ecosystem.
CTSI Token Value and Market Cap
The value of CTSI tokens fluctuates based on market conditions and demand. The token's market capitalization (as of April 2023) is approximately $1.2 billion.
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