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When was NULS coin issued?
The NULS coin, issued on August 15, 2018 through an ICO, serves as the native cryptocurrency of the NULS platform.
Nov 29, 2024 at 08:37 am
When Was NULS Coin Issued?
Background:
NULS is a blockchain platform that enables the creation and management of custom blockchains. It was founded in 2017 by a team of experienced blockchain developers led by former Alibaba senior executives. The NULS coin (NULS) is the native cryptocurrency of the NULS platform.
Issuance Date:
The NULS coin was officially issued on August 15, 2018, through an initial coin offering (ICO). The ICO raised a total of 150,000 ETH, equivalent to approximately $30 million at the time.
Total Supply and Distribution:
The total supply of NULS is capped at 100 million coins. The initial distribution of the coins was as follows:
- 60% (60 million NULS) sold during the ICO
- 20% (20 million NULS) reserved for the NULS team and foundation
- 10% (10 million NULS) allocated to early investors and advisors
- 10% (10 million NULS) held as a community development fund
Purpose and Use Cases:
The NULS coin serves several purposes within the NULS platform:
- Transaction Fees: NULS is used as the primary currency for paying transaction fees on the NULS network.
- Staking and Rewards: NULS holders can stake their coins to support the network and earn rewards. The staking rewards are distributed in the form of NULS coins.
- Governance: NULS holders can participate in the governance of the NULS platform by voting on proposals and electing NULS delegates.
- Bridge Currency: NULS is used as a bridge currency to facilitate cross-chain transactions between different blockchains connected to the NULS network.
Current Market Value and Performance:
As of March 2023, the current market value of NULS is approximately $0.30 per coin. The all-time high price of NULS was $95.18, achieved in January 2018.
Conclusion:
The NULS coin was officially issued on August 15, 2018, through an ICO. The total supply of NULS is capped at 100 million coins, and the initial distribution was divided among the ICO, team, investors, advisors, and community development fund. NULS is used as a transaction fee currency, staking and reward mechanism, governance tool, and bridge currency within the NULS platform.
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