What is the issuance and circulation of FLOW coins?

FLOW's initial supply of 1.25 billion coins was distributed through public token sales, with a circulating supply of approximately 900 million and a planned inflation rate of 5% per year.

Nov 03, 2024 at 04:58 am

What is the Issuance and Circulation of FLOW Coins?

FLOW is the native token of the Flow blockchain, a decentralized platform designed for gaming, NFTs, and other digital assets. The token serves several functions within the ecosystem, including:

1. Transaction Fees: FLOW is used to pay for transactions on the Flow blockchain, including the creation and transfer of NFTs.
2. Staking Rewards: FLOW token holders can stake their coins to secure the network and earn rewards.
3. Governance: FLOW holders have voting rights in the Flow network's governance system, allowing them to participate in decision-making on the platform's future development.

Issuance and Circulation

1. Initial Supply: The initial supply of FLOW coins was 1.25 billion.
2. Distribution: The FLOW coins were initially distributed through a series of public token sales in 2020 and 2021.
3. Circulating Supply: As of February 2023, the circulating supply of FLOW is approximately 900 million coins.
4. Planned Inflation: FLOW has a built-in inflation rate of 5% per year to incentivize staking and secure the network.
5. Burn Mechanism: A portion of the fees collected from transactions on the Flow blockchain are burned, gradually decreasing the total supply of FLOW coins.

Overall, the issuance and circulation of FLOW coins are designed to maintain the long-term stability and growth of the Flow ecosystem while supporting its core functions.