What is the issuance price and issuance volume of Artyfact (ARTY) coins?

The Artyfact platform utilizes ARTY tokens as a core component for asset registration, data storage, transaction fees, governance, and staking within its ecosystem.

Dec 03, 2024 at 10:41 am

Issuance Price and Volume of Artyfact (ARTY) Coins

Artyfact (ARTY) is a utility token that powers the Artyfact ecosystem, a comprehensive platform for tracking, managing, and authenticating physical assets on the blockchain. The ARTY token plays a crucial role in various operations within the platform, including asset registration, data storage, and transaction fees.

Issuance Price:

The issuance price of ARTY coins refers to the price at which they were first offered to the public during the initial coin offering (ICO). The ICO for ARTY took place from December 1, 2021, to December 31, 2021, and the coins were sold at a price of 0.008 USD per ART Y.

Issuance Volume:

The issuance volume of ARTY coins refers to the total number of coins created and released into circulation during the ICO. The initial supply of ARTY coins was 200,000,000, out of which 50,000,000 were sold during the ICO, raising a total of 400,000 USD.

Distribution of ARTY Coins:

The 200,000,000 ARTY coins are distributed as follows:

• ICO sale: 50,000,000 (25%)
• Team: 30,000,000 (15%)
• Reserve: 70,000,000 (35%)
• Partnerships and advisors: 20,000,000 (10%)
• Ecosystem development: 30,000,000 (15%)

Utility of ARTY Coins:

Within the Artyfact ecosystem, ARTY coins hold significant utility:

1. Asset Registration: ARTY coins are used to register physical assets on the Artyfact platform. The cost of registration is determined by the value of the asset.
2. Data Storage: Data associated with registered assets, such as maintenance records, certifications, and ownership history, is stored on the blockchain. The storage fee is paid in ARTY.
3. Transaction Fees: All transactions within the Artyfact ecosystem, including asset transfers, data updates, and verification requests, incur a transaction fee payable in ARTY.
4. Governance: ARTY holders have the right to participate in the governance of the Artyfact platform through voting on proposals related to ecosystem development and token distribution.
5. Staking: ARTY holders can stake their coins to earn rewards and support the security of the Artyfact network.

Conclusion:

The issuance price of ARTY coins was 0.008 USD during the ICO, and the initial supply was 200,000,000 coins. ARTY is a crucial utility token that plays a vital role in the functioning of the Artyfact ecosystem, offering various benefits and application.