Cryptocurrencies

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When was SSV coin issued? Learn about the origin of SSV coin in one article

The SSV token, a governance and staking currency for the SSV Network, debuted on Binance Launchpad on March 15, 2022.

Oct 01, 2024 at 03:17 pm

1. SSV Coin: Origins and Issuance Date

1.1. Project Concept

SSV Network is a distributed validator technology platform that allows users to participate in blockchain validation without the need for expensive and dedicated hardware infrastructure.

1.2. SSV Token (SSV)

SSV is the native token of the SSV Network. It serves as a governance token for the protocol, allowing holders to vote on network decisions. Additionally, SSV is rewarded to network participants who provide computing resources and contribute to the validation process.

1.3. Issuance Date

The SSV token was officially launched on March 15, 2022, via Binance Launchpad.

2. Token Distribution

The SSV token distribution was designed to incentivize early adopters and support the long-term growth of the SSV Network:

Private Sale: 28%
Binance Launchpad: 9%
Seed Round: 18%
Team: 18%
Foundation: 9%
Ecosystem Fund: 9%
Rewards: 9%

3. Utility and Governance

The SSV token plays a vital role in the SSV Network's ecosystem:

Governance: SSV holders can propose and vote on protocol updates and changes to the distribution of rewards.
Staking: Users can stake SSV to participate in the validation process and earn rewards.
Fees: Certain network transactions may require payment in SSV.
Incentivization: Token rewards incentivize individuals and organizations to contribute their resources to the SSV Network.

4. Current Market Status (As of June 2023)

Price: $0.19
Market Cap: $19 million
Circulating Supply: 99 million
Max Supply: 500 million

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