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What is the issuance price and issuance volume of Galxe coins?
Galxe's public launch on April 13, 2022, saw the issuance of 100 million tokens at approximately $2.25 each.
Nov 23, 2024 at 09:36 am
What is the Issuance Price and Issuance Volume of Galxe Coins?
Issuance Price
The issuance price of a cryptocurrency refers to the initial price at which it is sold to the public. In the case of Galxe (GAL), the project conducted a seed and private token sale in 2021, followed by a public launch on April 13, 2022.
During the public launch, GAL was offered through a Dutch auction, a type of auction where the initial price is set high and gradually decreases until all tokens are sold. The starting price of the auction was $2.50, and the final price at which all tokens were sold was approximately $2.25.
Issuance Volume
The issuance volume of a cryptocurrency represents the total number of tokens or coins created and released into circulation. In the case of GAL, the initial issuance volume was 100 million tokens, with a maximum supply of 1 billion tokens.
Distribution of GAL Tokens
The initial distribution of GAL tokens was as follows:
- Seed sale: 10% (10 million tokens)
- Private sale: 15% (15 million tokens)
- Public launch: 70% (70 million tokens)
- Team and advisors: 5% (5 million tokens)
Tokenomics
Understanding the tokenomics of a cryptocurrency provides insights into its economic characteristics and how it operates. Below is a breakdown of the key tokenomics of GAL:
- Token Name: Galxe (GAL)
- Token Type: Utility token
- Blockchain: Ethereum, Polygon, and Arbitrum
- Max Total Supply: 1 billion GAL
- Circulating Supply: Variable, dependent on token burns
- Use Cases: Governance, ecosystem incentives, and curation rewards
Utility of GAL Tokens
The GAL token serves various utility functions within the Galxe ecosystem:
- Governance: GAL holders can participate in governance proposals and vote on ecosystem development decisions.
- Ecosystem Incentives: GAL is used to reward users for creating and curating content on the Galxe platform.
- Curation Rewards: GAL is distributed to users who curate and vote on high-quality content, contributing to the overall quality of the platform.
Conclusion
The issuance price of Galxe (GAL) was approximately $2.25 during the public launch in April 2022. The initial issuance volume was 100 million tokens, with a maximum supply of 1 billion tokens. The tokenomics of GAL include a utility token model on multiple blockchains, with use cases in governance, ecosystem incentives, and curation rewards.
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