What is the issue volume of FLOW coins? One article to introduce the application scenarios of FLOW coins

The Flow blockchain's native token, FLOW, has diverse functions, including NFT ownership, transaction fees, governance, and staking, facilitating the ecosystem's operations.

Oct 23, 2024 at 11:52 pm

Understanding FLOW Coin: Applications and Issue Volume

About FLOW Coin

FLOW is the native token of the Flow blockchain, a high-throughput, scalable platform designed specifically for NFTs and dApps. It serves various functions within the Flow ecosystem.

Applications of FLOW Coin

FLOW coins have a diverse range of applications, including:

1. NFT Ownership: FLOW is used to purchase, sell, and store NFTs on Flow.
2. Transaction Fees: Users pay transaction fees in FLOW when interacting with smart contracts or transferring NFTs on the Flow blockchain.
3. Governance: FLOW holders can participate in governance decisions through FLOW governance votes.
4. Staking: FLOW can be staked to earn rewards and support the Flow network's security.

Issue Volume of FLOW Coins

The total supply of FLOW coins is 1.34 billion, with an initial circulation of 500 million coins. The remaining coins will be released gradually over time through staking rewards and network usage.

As of January 2023, the circulating supply of FLOW coins is approximately 860 million.

Conclusion

FLOW coins play a crucial role in the Flow blockchain ecosystem, facilitating NFT ownership, transaction fees, governance, and staking. With its growing adoption and diverse applications, FLOW has emerged as a prominent cryptocurrency in the NFT and dApp space.