What is the issuance and circulation of FTM coins?

Issuance and Circulation of FTM Coins Overview

Fantom (FTM) is a high-throughput, scalable blockchain platform designed for DeFi applications. Here's an overview of its issuance and circulation:

1. Initial Coin Offering (ICO)

• Date: June 25, 2018
• Sold: 40 million FTM coins
• Raised: ~$40 million

2. Token Distribution

• Team: 35%
• Investors: 30%
• Ecosystem Development: 15%
• Public Sale: 10%
• DAO Reserve: 10%

3. Total Supply

• Maximum supply: 3,175,000,000 FTM

4. Circulating Supply

• As of May 2023: 2,549,285,043 FTM (80.2%)
• The circulating supply gradually increases as new blocks are mined on the Fantom blockchain.

5. Token Burn Mechanism

• Fantom has a token burn mechanism designed to reduce the circulating supply over time, increasing the value of remaining FTM tokens.
• A portion of transaction fees is used to buy back and burn FTM coins.

6. Deflationary Token

• Due to the token burn mechanism, FTM is considered a deflationary token, meaning its circulating supply decreases over time.

7. Staking

• FTM holders can stake their coins to secure the network and earn rewards.
• Staked FTM coins are locked for a period of time and cannot be sold or transferred during that period.

8. Utility

• FTM coins are used for:

  • Gas fees on the Fantom blockchain
  • Staking rewards
  • Governance and voting on network parameters

Conclusion

FTM coins are the native token of the Fantom blockchain, issued through an ICO in 2018. The token distribution is designed to foster a balanced ecosystem, with a maximum supply of 3.175 billion FTM. The circulating supply is gradually increasing due to block mining, but the deflationary token burn mechanism aims to reduce it over time. FTM coins have utility for gas fees, staking rewards, governance, and powering DeFi applications on the Fantom blockchain.