What is the issuance and circulation of Marlin (POND) coins?

The circulating supply of Marlin (POND) coins increases over time as new tokens are unlocked from various allocations, including team, early investors, and the Marlin Foundation.

Dec 06, 2024 at 12:56 pm

Understanding the Issuance and Circulation of Marlin (POND) Coins

1. Introduction to Marlin (POND)

Marlin is a decentralized network that aims to enhance the reliability, security, and speed of internet connectivity. It leverages blockchain technology to incentivize node operators for providing bandwidth and guaranteeing network performance. The POND token is the native utility token of the Marlin network, playing a pivotal role in its operations and governance.

2. Issuance of Marlin (POND) Coins

The initial issuance of POND coins took place in July 2021 through a public sale. A total of 10 billion POND tokens were created, with 30% allocated to the sale. The remaining supply was distributed among team members, early investors, and the Marlin Foundation.

3. Distribution of Marlin (POND) Coins

• Public Sale (30%): 3 billion POND tokens were offered to the public through various exchanges and launchpads.
• Team (23%): 2.3 billion POND tokens are reserved for the core team and early contributors to the Marlin project.
• Investors (22%): 2.2 billion POND tokens are allocated to strategic and private investors who supported the project's development.
• Marlin Foundation (15%): 1.5 billion POND tokens are held by the non-profit Marlin Foundation, responsible for supporting the network's long-term growth and sustainability.
• Community (10%): 1 billion POND tokens are designated for community initiatives, partnerships, and ecosystem development.

4. Circulation of Marlin (POND) Coins

The circulating supply of POND coins represents the tokens that are currently in the market and available for trading. The initial circulating supply was approximately 3 billion tokens from the public sale. Over time, the circulating supply increases as new tokens are unlocked from the various allocations.

5. Token Release Schedule

Marlin employs a lockup and release schedule for the team, early investors, and the Marlin Foundation shares. These tokens are gradually unlocked over a period of time to ensure orderly distribution and market stability. The specific details of the release schedule are as follows:

• Team: 50% unlocked at launch, with the remaining tokens vesting over a three-year period.
• Early Investors: 25% unlocked at launch, with the remaining tokens vesting over a two-year period.
• Marlin Foundation: 25% unlocked at launch, with the remaining tokens vesting over a five-year period.

6. Tokenomics of Marlin (POND) Coins

Utility:

• Staking: POND holders can participate in staking by bonding their tokens, contributing to the security and reliability of the network. In return, they receive rewards in the form of additional POND tokens.
• Network Fees: Users pay POND tokens to access and utilize the Marlin network's bandwidth services.
• Governance: POND holders have voting rights in the Marlin decentralized autonomous organization (DAO), enabling them to influence network decisions and development.

Scarcity:

• Limited Supply: Only 10 billion POND tokens have been created.
• Burn Mechanism: A portion of the POND tokens collected as network fees is burned, reducing the overall supply and contributing to its scarcity.

7. Factors Influencing POND Token Circulation

• Staking Activity: The amount of POND staked impacts the circulating supply as it locks up tokens.
• Network Adoption: Increased adoption of the Marlin network for bandwidth services leads to higher demand for POND tokens.
• Market Conditions: General market trends and investor sentiment can influence the price and circulation of POND tokens.