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What is the issuance price and issuance volume of Symbol (XYM) coins?

The issuance price of Symbol (XYM) was initially set at $0.01 during its ICO in December 2019, with an initial issuance volume of approximately 499.95 million tokens.

Dec 15, 2024 at 08:10 am

What is the issuance price and issuance volume of Symbol (XYM) coins?

Issuance Price of Symbol (XYM) Coin

The issuance price of Symbol (XYM) coin was initially set at $0.01 during its initial coin offering (ICO) held in December 2019. The XYM coin was officially launched on March 16, 2021, with a total supply of 8.999 billion tokens.

Issuance Volume of Symbol (XYM) Coin

The initial issuance volume of XYM coins during the ICO was approximately 499.95 million tokens, raising a total of $4.999 million. The remaining 8.499 billion XYM coins were allocated as follows:

  • NEM Foundation Reserves: 30% (2.699 billion XYM)
  • Community Development Fund: 25% (2.249 billion XYM)
  • Ecosystem Fund: 20% (1.799 billion XYM)
  • Symbol Team: 15% (1.349 billion XYM)
  • Strategic Partnerships: 10% (899.9 million XYM)

Distribution of Symbol (XYM) Coins

The distribution of XYM coins follows a specific schedule, with certain portions of the supply being released over time:

  • First Year: 20% of the total supply (1.799 billion XYM)
  • Second Year: 40% of the remaining supply (1.799 billion XYM)
  • Third Year: Remaining 40% of the supply (1.799 billion XYM)

Purpose of Symbol (XYM) Coin

XYM is the native cryptocurrency of the Symbol blockchain platform, a blockchain project forked from NEM in 2021. The XYM coin serves several purposes within the Symbol ecosystem:

  • Transaction Fees: XYM is used to pay transaction fees on the Symbol blockchain.
  • Staking: XYM holders can stake their coins to validate transactions and earn rewards.
  • Governance: XYM holders can vote on proposals related to the governance of the Symbol blockchain.

Current Market Price of Symbol (XYM) Coin

As of August 2023, the current market price of XYM is approximately $0.04. The price has fluctuated significantly since its launch, influenced by market conditions and the overall performance of the blockchain industry.

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