When was STEEM coin issued?

STEEM, the cryptocurrency for the decentralized social media platform STEEM, was introduced in March 2016 through an initial coin offering that raised approximately $5.5 million.

Nov 22, 2024 at 10:42 pm

When Was STEEM Coin Issued?

STEEM, a decentralized social media platform, has its native cryptocurrency called STEEM. STEEM was launched in March 2016.

Background of STEEM

STEEM is a blockchain-based social media platform that aims to reward content creators and curators for their contributions.
Users on STEEM can earn STEEM tokens for posting, commenting, and upvoting content on the platform.
STEEM tokens can be used to power up and earn rewards, or they can be traded on cryptocurrency exchanges.

STEEM Issuance

STEEM was issued through an initial coin offering (ICO) in March 2016.
During the ICO, 292.5 million STEEM tokens were sold, raising approximately $5.5 million.
The remaining supply of STEEM was distributed to the STEEMPeak Foundation, which supports the development and growth of the STEEM ecosystem.

Distribution of STEEM

The total supply of STEEM is capped at 269 million tokens, which were distributed as follows:
- 292.5 million tokens were sold in the ICO.
- 32.5 million tokens were allocated to the STEEMPeak Foundation.
- 26 million tokens were reserved for future development and growth of the STEEM ecosystem.
- 18 million tokens were distributed to early adopters and contributors.

STEEM Tokenomics

STEEM has a unique tokenomics model that rewards content creators and curators for their contributions to the platform.
Users can earn STEEM tokens by posting, commenting, and upvoting content.
They can also earn STEEM tokens by powering up their accounts, which stakes their tokens in the platform and earns rewards.

STEEM Price History

STEEM's price has fluctuated over time, reaching its all-time high of $8.49 in January 2018.
The price has since experienced several ups and downs, but it remains a valuable cryptocurrency in the blockchain and social media space.

Conclusion

STEEM is a decentralized social media platform that rewards content creators and curators for their contributions. STEEM was issued through an ICO in March 2016, and the total supply of STEEM is capped at 269 million tokens. STEEM has a unique tokenomics model that encourages user engagement and rewards content creators and curators for their contributions to the platform.

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