What is the issuance and circulation of XCH coins?

XCH coin issuance is divided into three phases: Pre-Mining (33%), Block Rewards (41%), and Reserve for Chia Network Association (26%), with a total supply of 64,000,000,000 coins.

Oct 29, 2024 at 07:40 am

Understanding XCH Coin Issuance and Circulation1. Token Issuance

XCH (Chia) coins are created through a process known as "farming." Similar to cryptocurrency mining, farming involves dedicating computing resources to solve complex mathematical problems. The first computer to solve these problems receives a block reward in XCH coins.

2. Initial Coin Offering (ICO)

Chia Network conducted an ICO in October 2021 to raise funds for the project. During the ICO, 988,000 XCH coins were sold to investors for $0.23 each, raising a total of $226 million.

3. Pre-Mining

Before the ICO, 21 million XCH coins were pre-mined by Chia Network. These coins were allocated to the project's founders, team, and early investors.

4. Total Coin Supply

The total supply of XCH coins is 64,000,000,000. This is divided into three categories:

21,000,000 pre-mined coins (33%)
26,500,000,000 block rewards (41%)
16,500,000,000 reserved for the Chia Network Association (26%)

5. Circulating Supply

As of March 2023, the circulating supply of XCH coins is approximately 30,852,250. This includes both pre-mined coins and block rewards that have been farmed.

6. Token Distribution

The distribution of XCH coins is as follows:

6.67% - Founders and team
16.33% - Strategic partners and investors
26.33% - Chia Network Association
38.33% - Ecosystem
12.33% - Farming rewards

7. Future Coin Issuance

The issuance of XCH coins will continue through block rewards until the total supply of 64 billion is reached. The distribution of these rewards will be based on the network consensus, and it is possible that the issuance rate may change over time.

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