What is the issuance and circulation of SOL coins?

Solana Lab's team holds approximately 1.2% of the 500,000,000 SOL coin supply, allocated to ecosystem development and incentives.

Oct 11, 2024 at 10:53 am

1. Issuance of SOL Coins

Solana (SOL) coins are issued by the Solana Foundation, a Swiss-based non-profit organization dedicated to the development and maintenance of the Solana blockchain. The total supply of SOL coins is capped at 500,000,000.

Initial Coin Offering (ICO)

• Held in April 2019
• Raised approximately $25.8 million
• 489,000,000 SOL coins sold (97.8% of the total supply)

Seed and Private Sale

• Held before the ICO in 2018-2019
• Raised an additional $21 million
• Approximately 11,000,000 SOL coins sold (2.2% of the total supply)

Remaining Coins

• 2.2% reserved for the Solana Foundation for ecosystem development
• 1.2% reserved for the Solana Labs team
• 1.2% allocated to advisors

2. Circulation of SOL Coins

As of November 2023, approximately 362,561,268 SOL coins (72.5%) are in circulation.

Distribution of Circulating Supply

• Exchanges: 44.3%
• Staking rewards: 38.9%
• Solana Foundation: 6.0%
• Solana Labs: 5.3%
• Advisors: 2.2%
• Other: 3.3%

Average Daily Trading Volume

The average daily trading volume of SOL coins has fluctuated significantly over the past year, ranging from a high of approximately $3 billion in November 2021 to a low of approximately $1 billion in June 2022.

Current Market Price

As of November 2023, the price of SOL is approximately $32.25, with a market capitalization of approximately $11.7 billion.