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How much is The Sandbox (SAND) currency in circulation?

The Sandbox's (SAND) circulating supply, currently at 1.04 billion, is influenced by token distribution, staking rewards, treasury management, token burning, DEX listings, and platform adoption.

Dec 12, 2024 at 10:28 pm

Understanding The Sandbox (SAND) Currency Circulation

Introduction

The Sandbox (SAND) is the native currency of The Sandbox metaverse, a decentralized gaming and virtual world platform. As a utility token, SAND serves various purposes within the ecosystem, including purchasing digital assets, staking, and governing the platform. Its circulation supply plays a crucial role in determining the token's value and scarcity.

Step 1: Defining Circulating Supply

The circulating supply of a cryptocurrency refers to the number of tokens that are currently in public circulation and can be actively traded. In the case of SAND, this includes tokens held in exchanges, wallets, and by users participating in the platform.

Step 2: Initial Token Distribution

The initial supply of SAND tokens was predetermined during the token generation event (TGE) in August 2020. A total of 3 billion SAND tokens were created, with the distribution divided as follows:

25.2% (756 million) – Seed sale
18.9% (567 million) – Strategic sale
43.3% (1.299 billion) – Ecosystem and liquidity
12.6% (378 million) – Team and advisors

Step 3: Staking and Rewards

The Sandbox ecosystem incentivizes token holders to stake their SAND tokens and participate in the governance process. Stakers earn rewards in the form of additional SAND tokens, further increasing the circulating supply.

Step 4: Treasury and Buybacks

The Sandbox has established a treasury fund to hold a portion of the SAND tokens. The treasury can be used for various purposes, including buying back SAND tokens from the market, which effectively reduces the circulating supply.

Step 5: Token Burning

As part of its deflationary measures, The Sandbox has implemented a token burning mechanism. Periodically, a percentage of the transaction fees collected within the ecosystem is used to purchase and burn SAND tokens, thereby decreasing the circulating supply.

Step 6: DEX Listings and Accessibility

The accessibility and liquidity of SAND tokens on decentralized exchanges (DEXs) also influence the circulating supply. When SAND is listed on more DEXs, it becomes easier for users to buy and sell the tokens, potentially increasing the circulating supply.

Current Circulating Supply

As of March 8, 2023, the circulating supply of SAND tokens is approximately 1.04 billion, out of the total supply of 3 billion. This represents an increase from the initial circulating supply of 829 million tokens at the time of the TGE. The continued growth in circulating supply is primarily driven by staking rewards and platform adoption.

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