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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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