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What is the issuance and circulation of TFUEL coins?
TFUEL coins, the native cryptocurrency of the Theta Network, are issued through an ICO and mining, with a total supply of 5 billion coins, of which 3 billion are currently in circulation.
Nov 22, 2024 at 01:34 am
What is the Issuance and Circulation of TFUEL Coins?
Theta Fuel (TFUEL) is the native cryptocurrency of the Theta Network, a blockchain-based video streaming platform. TFUEL is used to pay for transactions on the Theta Network, such as streaming videos, and to reward users who contribute to the network.
Issuance of TFUEL Coins
TFUEL coins were initially issued through an initial coin offering (ICO) in 2018. In the ICO, 1 billion TFUEL coins were sold, raising $20 million. The ICO participants were given a 25% discount on the purchase price of TFUEL coins.
After the ICO, TFUEL coins were also issued through mining. Mining is the process of verifying and adding transactions to the Theta blockchain. Miners are rewarded with TFUEL coins for their work.
The total supply of TFUEL coins is 5 billion. Of this total supply, 1 billion coins were issued through the ICO and 4 billion coins will be issued through mining. The mining rewards will be halved every 5 years until all 4 billion coins have been issued.
Circulation of TFUEL Coins
As of January 2023, there are approximately 3 billion TFUEL coins in circulation. This means that 60% of the total supply of TFUEL coins has been issued and is in circulation.
The remaining 40% of the total supply of TFUEL coins is held by the Theta Network Foundation. The Theta Network Foundation is a non-profit organization that is responsible for the development and promotion of the Theta Network.
Use Cases of TFUEL Coins
TFUEL coins are used to pay for transactions on the Theta Network. This includes the following:
- Streaming videos: Users can pay to stream videos on the Theta Network using TFUEL coins.
- Creating and uploading videos: Users can pay to create and upload videos to the Theta Network using TFUEL coins.
- Running a node on the Theta Network: Users can pay to run a node on the Theta Network using TFUEL coins.
- Staking: Users can stake their TFUEL coins to earn rewards.
Conclusion
TFUEL coins are an important part of the Theta Network ecosystem. They are used to
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