Cryptocurrencies

Text

Introduction to the total issuance of SNX coin and the online exchanges

The total supply of SNX coins is 250 million, with 50% distributed through an ICO, 20% held by the foundation, and 10% allocated to each of the team, ecosystem fund, and community reserve.

Oct 09, 2024 at 12:53 pm

The Total Supply and Distribution of SNX Coins

1. Total Supply

The total supply of SNX coins is capped at 250 million. Once this limit is reached, no new SNX coins will be created.

2. Distribution

Initial Coin Offering (ICO): 50% of the total SNX supply (125 million SNX) was sold through an ICO in 2018.
Foundation Reserve: 20% of the total SNX supply (50 million SNX) is held by the Synthetix Foundation.
Team and Advisors: 10% of the total SNX supply (25 million SNX) is allocated to the project's team and advisors.
Ecosystem Fund: 10% of the total SNX supply (25 million SNX) is reserved for the development of the Synthetix ecosystem.
Community Reserve: 10% of the total SNX supply (25 million SNX) is allocated for community initiatives and incentives.

3. Online Exchanges

SNX coins are available for trading on the following online exchanges:

Binance
FTX
Coinbase
Kraken
Uniswap
Sushiswap

Conclusion

The total supply and distribution of SNX coins play a crucial role in the stability and growth of the Synthetix ecosystem. By maintaining a capped supply and allocating a significant portion to the community, Synthetix ensures that the interests of all stakeholders are aligned over the long term.

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