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What is the issuance and circulation of MERL coins?
With an initial issuance of 250 million coins and a maximum supply of 10 billion, MERL coins have become the primary medium of exchange within the Metaverse Eagle (MVG) ecosystem.
Oct 13, 2024 at 08:17 pm
1. Issuance of MERL Coins
- MERL coins, the native cryptocurrency of the Metaverse Eagle (MVG) ecosystem, were first issued in March 2022.
- The maximum supply of MERL coins is capped at 10 billion, with an initial issuance of approximately 250 million coins.
- Additional MERL coins are minted through a consensus mechanism known as Proof-of-Work (PoW).
2. Circulation of MERL Coins
MERL coins are primarily circulated through the following channels:
- Exchanges: MERL coins are traded on various cryptocurrency exchanges, allowing users to purchase, sell, and exchange them.
- Mining: Miners use specialized hardware to verify transactions on the MVG blockchain and earn MERL coins as rewards.
- Staking: Users can stake their MERL coins to participate in the PoW consensus mechanism and earn additional coins as rewards.
- DEXs (Decentralized Exchanges): Decentralized exchanges allow users to trade MERL coins directly with each other without intermediaries.
- Gaming and Applications: MERL coins are used as an in-game currency and payment method within the MVG ecosystem, including games and virtual worlds.
3. Role in the MVG Ecosystem
MERL coins play a crucial role in the MVG ecosystem as:
- Native Cryptocurrency: They serve as the primary medium of exchange within the ecosystem.
- Governance: MERL coin holders can participate in the MVG governance process, including voting on proposals and roadmap decisions.
- Staking and Rewards: Users can earn rewards by staking their MERL coins to support the blockchain network.
- Deflationary Mechanism: A portion of MERL coins earned through mining is burned, creating a deflationary mechanism that helps maintain the value of the coins.
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