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What is the issuance and circulation of Ethena (ENA) coins?
The Ethena blockchain network's native ENA coin, issued in a 2019 public token sale, plays a vital role in powering blockchain operations and facilitating participation in the decentralized Ethena ecosystem.
Dec 11, 2024 at 05:15 am
What is the Issuance and Circulation of Ethena (ENA) Coins?
Introduction
Ethena (ENA) is a decentralized blockchain network that aims to provide a secure, transparent, and efficient platform for the development and deployment of decentralized applications (dApps). The ENA token is the native cryptocurrency of the Ethena network and is used to power various blockchain operations, including transaction fees, staking rewards, and governance rights.
Issuance of ENA Coins
The initial issuance of ENA coins occurred through a public token sale that took place in 2019. During this sale, a total of 100 million ENA coins were released into circulation, accounting for 100% of the token's total supply. The distribution of ENA coins during the token sale was as follows:
- Seed Sale: 15 million ENA coins (15% of total supply)
- Private Sale: 30 million ENA coins (30% of total supply)
- Public Sale: 55 million ENA coins (55% of total supply)
Circulation of ENA Coins
Since its initial issuance, ENA coins have been traded on various cryptocurrency exchanges and are widely used within the Ethena ecosystem. The current circulating supply of ENA coins is approximately 75 million, representing 75% of the total supply. The remaining 25% of the total supply is held in reserve by the Ethena Foundation and is used to support ecosystem development, marketing, and other operational expenses.
Tokenomics of ENA Coins
The following are key tokenomics features of the ENA token:
- Token Symbol: ENA
- Total Supply: 100 million tokens
- Circulating Supply: 75 million tokens
- Issuance Method: Public token sale
- Utility: Transaction fees, staking, governance
Conclusion
ENA coins are the backbone of the Ethena blockchain network. Their issuance and circulation have played a crucial role in the growth and development of the Ethena ecosystem. With a significant portion of the total ENA supply already in circulation, the token is well-established and widely adopted within the cryptocurrency market.
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