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What is the issuance price and issuance volume of KSM coins?
During its 2019 ICO, Kusama (KSM) tokens were issued at $1 per token, with a total of 10 million sold, raising $10 million.
Nov 27, 2024 at 01:28 pm
What is the Issuance Price and Issuance Volume of KSM Coins?
Understanding Kusama (KSM) Coins
Kusama (KSM) is a decentralized blockchain platform designed as a "canary network" for Polkadot, the flagship interoperability protocol. As a parachain network, Kusama allows developers to test and deploy experimental blockchain applications before they are deployed on Polkadot, offering a real-world testing ground for innovative blockchain solutions.
Issuance Price and Volume of KSM Coins
1. Initial Coin Offering (ICO)
- KSM coins were first issued through an ICO in 2019.
- The ICO price was set at $1 per KSM token.
- A total of 10 million KSM tokens were sold during the ICO, raising a total of $10 million.
2. Treasury Allocations
- A significant portion of the KSM coin supply was allocated to the Kusama Treasury.
- The Treasury funds are used to support the development and governance of the Kusama network.
- The Treasury initially held approximately 5.6 million KSM tokens (56% of the total supply).
3. Parachain Auctions
- KSM tokens are used as the bonding mechanism for parachains, which are independent blockchains connected to the Polkadot or Kusama network.
- Developers who wish to secure a parachain slot must bid in KSM tokens.
- Winning bids are locked for the duration of the parachain lease, creating a demand for KSM tokens.
Current Issuance Volume
As of February 2023, the total issuance volume of KSM coins is approximately 10.6 million tokens.
Additional Points to Note
- The KSM token supply is capped at 10 billion tokens.
- New KSM tokens are issued through a process called "staking rewards."
- Stakers earn rewards for securing the Kusama network by locking up their KSM tokens.
- The issuance rate of KSM tokens is adjusted dynamically based on the network's activity and inflation rate.
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