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What is the issuance and circulation of SAGA coins?
The SAGA network's issuance and circulation mechanisms, including genesis block pre-mining, mining rewards, staking rewards, and market availability, ensure a controlled and transparent distribution of SAGA coins.
Nov 22, 2024 at 12:55 am
What is the Issuance and Circulation of SAGA Coins?
Issuance of SAGA Coins:
- Genesis Block: The first block of the SAGA blockchain, created on July 5, 2022, contained a pre-mined supply of 100,000,000 SAGA coins.
- Mining Rewards: Miners who verify and validate transactions on the SAGA network receive newly minted SAGA coins as rewards. The initial mining reward was set at 100 SAGA coins per block, gradually decreasing over time through a halving mechanism.
- Staking Rewards: SAGA holders can earn passive income by staking their coins on the network, contributing to its security and stability. Stakers receive regular rewards based on their staked amount and the network's performance.
Circulation of SAGA Coins:
- Initial Distribution: Out of the 100,000,000 pre-mined SAGA coins, 70% were allocated to the core team and early investors, while the remaining 30% were released into circulation.
- Market Availability: SAGA coins are available for purchase on various cryptocurrency exchanges, including Binance, KuCoin, and Gate.io.
- Network Adoption: As the SAGA blockchain and its ecosystem expand, the circulation of SAGA coins increases through various applications, such as decentralized finance (DeFi), non-fungible tokens (NFTs), and gaming.
Distribution of SAGA Coins:
- Core Team and Early Investors: 70% of the pre-mined coins were allocated to the SAGA core team and early investors. This allocation provides funding for blockchain development, marketing, and ecosystem growth.
- Stakers: SAGA holders who stake their coins on the network receive rewards over time, which contributes to the circulation supply.
- Miners: Miners earn newly minted SAGA coins as rewards for verifying and validating transactions, further expanding the circulation.
- Market Participants: Individuals and organizations acquire SAGA coins through exchanges and other market mechanisms, increasing the circulating supply.
Control of SAGA Coin Distribution:
- Limited Pre-Mining: The limited pre-mine of 100,000,000 SAGA coins ensures a stable and sustainable issuance model.
- Halving Mechanism: Regular halving events reduce the mining rewards, controlling the inflation rate and ensuring a gradual increase in coin circulation.
- Deflationary Measures: The SAGA network employs various deflationary mechanisms, such as coin burning and staking rewards, to regulate coin supply and maintain value.
Transparency and Accountability:
- Blockchain Ledger: All SAGA coin issuance and circulation transactions are recorded on the public blockchain ledger, providing transparency and accountability.
- Smart Contract Verification: The smart contracts governing coin issuance and distribution are open-source and auditable, ensuring fairness and preventing manipulation.
- Independent Audits: Regular independent audits by reputable third parties verify the accuracy and compliance of SAGA coin distribution.
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