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What is the issuance and circulation of KMD coins?

The circulation of approximately 49,000,000 KMD as of January 2023 is maintained through a combination of pre-mining, block rewards, and a burn and mint mechanism.

Oct 13, 2024 at 06:18 pm

Issuance and Circulation of KMD Coins

1. Issuance

Pre-mine: 50% of the total KMD supply (98,000,000) was pre-mined and distributed to the Komodo Development Team.
Block Reward: The remaining 50% of KMD is issued through block rewards. New blocks are mined approximately every 5 minutes, and each block reward consists of 1 KMD.
Proof-of-Work (PoW) Consensus: KMD uses a PoW consensus mechanism, known as Equihash, to secure the network and validate transactions.

2. Circulation

Current Supply: As of January 2023, approximately 49,000,000 KMD is in circulation.
Burn and Mint Mechanism: KMD employs a burn and mint mechanism to control its supply. When the Komodo blockchain forks, a portion of the KMD supply is burned (destroyed). New KMD is then minted to maintain a constant supply.
Listing on Exchanges: KMD is listed on various cryptocurrency exchanges, including Binance, Coinbase, and Kraken.
Market Capitalization: As of January 2023, KMD's market capitalization is approximately $1.1 billion, making it one of the top 100 cryptocurrencies by market capitalization.
Transaction Costs: KMD transactions have relatively low transaction costs (typically around $0.01).

Advantages of KMD Issuance and Circulation

Pre-mine Distribution: The pre-mine distribution provided funding for the Komodo Development Team to develop and maintain the platform.
Block Reward Incentives: The block rewards incentivize miners to validate transactions and secure the network.
Burn and Mint Mechanism: This mechanism helps control the supply and prevent inflation.
Exchange Listings: Listing on major exchanges provides increased accessibility and liquidity for KMD holders.
Low Transaction Costs: The low transaction costs make KMD suitable for daily transactions.

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