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What is the issuance and circulation of KSM coins?
KSM coins are issued through genesis block allocation, staking rewards, and inflation, with a circulating supply traded on exchanges, stored in wallets, and utilized for network transactions and governance.
Nov 27, 2024 at 01:40 pm
What is the Issuance and Circulation of KSM Coins?
Kusama (KSM) is a Proof-of-Stake (PoS) blockchain platform designed to serve as a testbed for Polkadot, a next-generation blockchain network. KSM coins are the native cryptocurrency of the Kusama network, used for transaction fees, staking, and governance.
Issuance of KSM Coins:
- Genesis Block Allocation: During the launch of the Kusama network, an initial supply of 10 million KSM was created and allocated to the genesis block. This initial allocation served as the foundation for the KSM ecosystem.
- Staking Rewards: New KSM coins are created through staking, a process where KSM holders delegate their coins to validators who maintain the network's security. Validators receive staking rewards in the form of newly minted KSM.
- Inflation: The Kusama network is designed with an inflationary issuance model, where a percentage of the total KSM supply is released annually to reward validators and incentivize network participation. The inflation rate is currently set at 10%.
Circulation of KSM Coins:
- Circulating Supply: The circulating supply of KSM refers to the number of coins that are currently in circulation within the cryptocurrency market. The circulating supply is calculated by subtracting the coins held by the Kusama Foundation and early investors from the total supply.
- Exchanges and Wallets: KSM coins are primarily traded on cryptocurrency exchanges, such as Binance, Coinbase, and Kraken. They can also be stored in hardware wallets like Ledger and Trezor, as well as software wallets such as Exodus and Atomic Wallet.
- Network Use: KSM coins are used to facilitate transactions on the Kusama network, pay for gas fees, and participate in governance through voting on proposals. KSM holders who stake their coins also contribute to the security of the network and earn staking rewards.
Conclusion:
The issuance and circulation of KSM coins are fundamental aspects of the Kusama ecosystem. The genesis block allocation, staking rewards, and inflation mechanism ensure a steady supply of KSM coins to support network operations and incentivize participation. The circulating supply represents the availability of KSM within the cryptocurrency market, influencing its price and liquidity.
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