What is the issuance and circulation of Highstreet(HIGH) coins?

Highstreet (HIGH) coin employs an inflationary issuance mechanism, periodic token burns, and staking rewards to manage its supply dynamics and maintain its long-term value within the Highstreet ecosystem.

Nov 29, 2024 at 05:29 am

Highstreet (HIGH) Coin: A Comprehensive Guide to Issuance and Circulation

1. Genesis and Initial Distribution

• Highstreet's genesis occurred on March 18, 2021, with a total supply of 100,000,000 HIGH coins minted.
• Initial distribution was conducted through a series of private and public sales, raising over $5 million.
• Approximately 20% of the total supply was allocated to the project team and advisors, while the remaining 80% was distributed to investors and the public.

2. Inflationary Issuance Mechanism

• HIGH has an inflationary issuance rate of 5% per year, with an additional 2.5% distributed to stakers.
• This issuance mechanism is designed to reward long-term holders and encourage network participation.
• The inflation rate is subject to adjustment by the Highstreet community through governance proposals.

3. Token Burning and Deflationary Measures

• Highstreet implements periodic token burning events to reduce the total circulating supply.
• A portion of transaction fees collected on the Highstreet Marketplace is designated for token burns.
• Token burns aim to increase the scarcity of HIGH coins and enhance their long-term value.

4. Staking and Earning Rewards

• HIGH holders can stake their coins to earn rewards and support the network's security.
• Staked HIGH coins are used to validate transactions and secure the blockchain.
• In return for staking, participants receive rewards in the form of additional HIGH coins.

5. Circulation and Market Cap

• As of September 2023, approximately 60,000,000 HIGH coins are in circulation.
• The market capitalization of HIGH is determined by multiplying the circulating supply by its current market price.
• HIGH is currently ranked among the top 200 cryptocurrencies by market capitalization.

6. Use Cases for HIGH

• Governance: HIGH is used for voting on proposals that shape the future of the Highstreet platform.
• Payment: HIGH can be used to purchase virtual land and other digital assets in the Highstreet Marketplace.
• Staking Rewards: HIGH can be staked to earn rewards and support the network.
• Community Contributions: HIGH can be used to support community-led initiatives within the Highstreet ecosystem.

Note: This article does not provide investment advice. Please conduct thorough research before making any investment decisions.