What is the issuance and circulation of MINA coins?

MINA Coin Issuance and Circulation1. Tokenomics

MINA (previously known as Coda) is a cryptocurrency that aims to solve the blockchain size and synchronizing issues associated with traditional blockchain networks. It employs a unique consensus mechanism called the "Ouroboros Samasika" protocol, ensuring both security and scalability.

2. Coin Issuance

• The total supply of MINA is capped at 845,948,192 coins.
• An initial 134.7 million MINA tokens were issued during the initial coin offering (ICO) in May 2018.
• Subsequent token issuances have occurred through token generation events and mining rewards.

3. Circulation

• As of February 2023, the total circulating supply of MINA is around 648.5 million tokens (approximately 76.7% of the total supply).
• MINA tokens are widely distributed among holders, with the largest concentration held by the Mina Foundation (approximately 32%).
• The remaining tokens are distributed among miners, early investors, and users through staking, airdrops, and other incentives.

4. Mining

MINA employs a proof-of-stake consensus mechanism, where coin holders validate transactions and secure the network.

• Validators stake their MINA tokens to participate in the consensus process and earn rewards.
• The stake required to become a validator varies based on the total number of staked tokens in the network.
• Rewards are distributed proportionally to the size of each validator's stake.

5. Additional Notes

• Unlike standard blockchains, MINA's "Ouroboros Samasika" protocol allows for easy and fast synchronization, regardless of the blockchain's size.
• The "Snapps" (Smart Contracts that Adapt and Perform Simultaneously) platform enables developers to create and deploy dApps built on the Mina blockchain.
• MINA is currently listed on several major cryptocurrency exchanges, including Binance, Coinbase, and OKX.