What is the issuance and circulation of NKN coins?

The NKN project aims to revolutionize the internet by establishing a decentralized, secure, and scalable network supported by the NKN token.

Nov 30, 2024 at 11:22 pm

What is the Issuance and Circulation of NKN Coins?

The New Kind of Network (NKN) project aims to revolutionize the internet by creating a decentralized network that is both secure and scalable. The network is powered by the NKN token, which is used to incentivize users to participate in the network and provide resources.

Issuance of NKN Coins

The NKN token was first issued in a private sale in 2018. The total supply of NKN tokens is 1 billion, with 400 million tokens being sold in the private sale. The remaining 600 million tokens were allocated to the NKN team, advisors, and ecosystem partners.

Circulation of NKN Coins

The current circulating supply of NKN tokens is approximately 470 million. The remaining 530 million tokens are held by the NKN team, advisors, and ecosystem partners.

Distribution of NKN Coins

The distribution of NKN coins is as follows:

Private sale: 40%
Team and advisors: 20%
Ecosystem partners: 10%
Founders: 10%
Community: 10%
Marketing: 5%
Operations: 5%

Use Cases for NKN Coins

NKN coins are used to incentivize users to participate in the network and provide resources. Users can earn NKN coins by:

Running a full node: A full node is a computer that runs the NKN software and stores a copy of the blockchain. Full nodes help to secure the network and process transactions.
Providing bandwidth: Users can provide bandwidth to the network by sharing their internet connection. Users are rewarded with NKN coins for providing bandwidth.
Providing storage: Users can provide storage to the network by sharing their hard drive space. Users are rewarded with NKN coins for providing storage.

NKN Coin Economics

The NKN coin economics are designed to incentivize users to participate in the network and provide resources. The token is also designed to be deflationary, meaning that the supply of tokens will decrease over time.

Conclusion

The NKN coin is a key part of the NKN ecosystem. The token is used to incentivize users to participate in the network and provide resources. The token is also designed to be deflationary, meaning that the supply of tokens will decrease over time.

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