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What is the issuance price and issuance volume of PolySwarm (NCT) coins?
PolySwarm's native token, NCT, was initially priced at $0.01 during its ICO in September 2017, with a total issuance volume of 1 billion tokens.
Nov 29, 2024 at 10:50 am
What is the Issuance Price and Issuance Volume of PolySwarm (NCT) Coins?
PolySwarm (NCT) is a decentralized threat intelligence platform that connects security researchers with organizations seeking to improve their cybersecurity posture. The platform allows researchers to contribute their threat intelligence to a shared pool, which is then used to create a more comprehensive and up-to-date view of the threat landscape.
NCT is the native token of the PolySwarm platform. It is used to reward researchers for contributing their threat intelligence, and to incentivize node operators to provide the computing power necessary to process and analyze the data.
Issuance Price
NCT was issued at a price of $0.01 per token. This price was set during the platform's initial coin offering (ICO), which was held in September 2017. The ICO raised a total of $6 million, which was used to develop the platform and launch the NCT token.
Issuance Volume
A total of 1 billion NCT tokens were issued during the ICO. Of these tokens, 500 million were sold to the public, while the remaining 500 million were reserved for the development team and early investors.
Token Distribution
The NCT token distribution is as follows:
- Public sale: 50%
- Development team: 25%
- Early investors: 25%
Token Use Cases
NCT is used for the following purposes on the PolySwarm platform:
- Rewarding researchers: Researchers are rewarded with NCT tokens for contributing their threat intelligence to the platform. The amount of NCT tokens awarded is based on the quality and quantity of the intelligence contributed.
- Incentivizing node operators: Node operators are rewarded with NCT tokens for providing the computing power necessary to process and analyze the data on the platform. The amount of NCT tokens awarded is based on the amount of computing power provided.
- Governance: NCT token holders can participate in the governance of the PolySwarm platform by voting on proposed changes to the platform. The number of votes that a token holder has is proportional to the number of NCT tokens they hold.
Conclusion
NCT is an important part of the PolySwarm platform. It is used to reward researchers for contributing their threat intelligence, to incentivize node operators to provide the computing power necessary to process and analyze the data, and to allow token holders to participate in the governance of the platform.
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