What is the issuance and circulation of ENJ coins?

Launched in 2017, Enjin's (ENJ) Ethereum-based token is primarily used as a gaming token within the Enjin ecosystem for managing in-game items and digital assets.

Oct 02, 2024 at 01:29 am

Issuance and Circulation of Enjin (ENJ) Coins

1. Issuance

Enjin (ENJ) is an Ethereum-based token that was launched in 2017.
It was created by the Enjin company, a provider of gaming software and blockchain services.
A total of 1,000,000,000 ENJ tokens were created at the time of launch.

2. Initial Distribution

8% of the total supply (80 million ENJ) was distributed through a token sale in 2017.
20% of the supply (200 million ENJ) was reserved for the Enjin team and advisors.
52% of the supply (520 million ENJ) was set aside for community development and ecosystem growth.

3. Circulation

As of August 2023, approximately 893 million ENJ tokens are in circulation.
The remaining 107 million ENJ are held in reserve by the Enjin company.

4. Token Use Cases

ENJ is primarily used as a gaming token within the Enjin ecosystem.
It is used to create and manage in-game items, such as weapons, armor, and collectibles.
ENJ can also be used for staking, voting, and purchasing digital assets.

5. Market Value

ENJ's market capitalization as of August 2023 is approximately $322 million.
Its price has fluctuated over time, reaching an all-time high of $4.08 in April 2021.

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