What is the issuance price and issuance volume of REN coins?

REN coins, initially offered at $0.047 in a 2017 token sale, are used to pay platform fees, incentivize staking and Darknode operation, and promote ecosystem expansion.

Nov 29, 2024 at 12:12 pm

Understanding REN Coins: Issuance Price, Issuance Volume, and Tokenomics

REN is a decentralized platform that enables secure and scalable cross-chain liquidity for tokenized assets. At its core, the platform seeks to bridge the liquidity divide among different blockchains, allowing for seamless movement of value across diverse ecosystems. To facilitate these cross-chain transactions, REN utilizes its native cryptocurrency, REN coins.

REN Coin Issuance Price

The issuance price of a cryptocurrency represents the initial price at which it was offered to the public during an initial offering. In the case of REN coins, they were introduced through a token sale in 2017.

• The token sale aimed to raise funds for the development and implementation of the REN platform.
• REN coins were sold at a price of $0.047 during the token sale.

REN Coin Issuance Volume

The issuance volume of a cryptocurrency refers to the total number of coins that were created initially. This designated amount determines the initial supply of the coin in the market.

• The initial issuance volume of REN coins was 1 billion coins, representing the total supply at launch.
• Over time, the issuance volume may change through processes such as coin burns or additional issuance via protocols, if applicable.

REN Coin Tokenomics

Tokenomics encompasses the economic and technical characteristics of a cryptocurrency, including its distribution, usage, and incentives. REN coins are designed with specific tokenomic properties that align with the platform's objectives:

• Platform Fees: REN coins are utilized to pay transaction fees on the REN platform. This fee mechanism incentivizes validators to participate in the network and maintain its security.
• Staking: REN coin holders can stake their coins to support the platform's operations. Validators are randomly selected based on the amount of REN coins they stake, contributing to the network's decentralized and secure nature. Staking rewards encourage coin holders to maintain their investment in the REN ecosystem.
• Darknodes: Darknodes are specialized servers that operate the REN Virtual Machine (RVM). Users must stake a minimum of 100,000 REN coins to run a Darknode.
• Ecosystem Growth: REN coins are also used to incentivize ecosystem growth and adoption. Developers and partners can participate in the REN ecosystem by building applications and integrating REN services, potentially receiving rewards in REN coins for their contributions.