What is the issuance and circulation of WOO coins?

In March 2023, with a circulating supply of 1.9 billion WOO coins and a market capitalization of $200 million, WOO coins are primarily utilized for transaction fees, staking rewards, and voting rights within the WOO Network ecosystem.

Nov 12, 2024 at 07:24 am

What is the Issuance and Circulation of WOO Coins?1. Issuance

The initial total supply of WOO coins is 3 billion.
1.5 billion WOO coins (50%) were released during the initial coin offering (ICO) in June 2019.
The remaining 1.5 billion WOO coins will be released over a period of 5 years, with a monthly release schedule.

2. Circulation

As of March 2023, there are approximately 1.9 billion WOO coins in circulation.
The remaining coins will continue to be released according to the monthly schedule.
The current market capitalization of WOO coin is approximately $200 million.

3. Use Cases

WOO coins are a utility token that can be used for the following purposes:

Transaction fees: WOO coins can be used to pay transaction fees on the WOO X decentralized exchange.
Staking rewards: WOO coins can be staked to earn rewards.
Voting rights: WOO coins can be used to vote on governance proposals related to the WOO ecosystem.

Conclusion

The issuance and circulation of WOO coins is a key part of the WOO Network ecosystem. The controlled release of coins over time helps to ensure the long-term stability and growth of the network.

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