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What is the issuance and circulation of XVG coins?

As of February 2023, approximately 87% of the total supply of Verge (XVG) coins, which is set at 16.5 billion, is in circulation.

Oct 02, 2024 at 07:41 pm

Issuance and Circulation of Verge (XVG) Coins

1. Initial Coin Offering (ICO)

Verge (XVG) was launched through an ICO in May 2014, raising approximately 1,100 BTC (worth around $450,000 at the time).

2. Total Supply

The total supply of XVG coins is fixed at 16.5 billion coins.

3. Distribution

50% released through the ICO
25% reserved for the Verge Foundation
25% distributed to the development team

4. Pre-Mine and InstantSend

XVG uses a pre-mine of 1.25 billion coins to facilitate its InstantSend feature, which allows for near-instantaneous transactions.

5. Block Reward Structure

5 XVG per block
Reward halved every two years
Next halving expected in 2029

6. Circulation

As of February 2023, the circulating supply of XVG is approximately 14.5 billion coins, representing around 87% of the total supply.

7. Mining Algorithm

XVG is mined using the Scrypt mining algorithm, making it accessible to a wide range of miners with consumer-grade hardware.

8. Inflation Rate

The current inflation rate of XVG is approximately 2.9% per year, due to the ongoing block rewards.

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