Understand the NEAR coin issuance price and total issuance in one article

NEAR was initially offered at $0.10 during its ICO in April 2020, with a maximum supply of 1 billion tokens and a current circulating supply of approximately 407.6 million.

Oct 19, 2024 at 09:05 pm

NEAR Coin Issuance Price and Total Issuance

1. Issuance Price

• NEAR was initially offered at a price of $0.10 during its initial coin offering (ICO) in April 2020.

2. Total Issuance

• The maximum supply of NEAR tokens is 1 billion tokens.
• As of July 2023, there are approximately 407.6 million NEAR tokens in circulation.

3. Distribution of Tokens

• 63% of NEAR tokens were initially distributed to participants in the ICO.
• 20% of tokens were reserved for the NEAR Foundation.
• 10% of tokens were allocated to the community.
• 5% of tokens went to early contributors and advisors.
• 2% of tokens were allocated to the NEAR Protocol Treasury.

4. Token Use Cases

• NEAR tokens are used to:

  • Pay transaction fees on the NEAR blockchain.
  • Stake and participate in the network's governance.
  • Enable the creation of decentralized applications (dApps) on the NEAR platform.

5. Token Value Appreciation

• Since its ICO in April 2020, the price of NEAR tokens has significantly appreciated.
• As of July 2023, NEAR tokens trade at approximately $4.30.

6. Market Cap

• NEAR's market capitalization is approximately $1.7 billion as of July 2023.

7. Circulating Supply

• The circulating supply of NEAR tokens increases gradually as the NEAR Protocol distributes newly minted tokens to node operators and stakers.

Conclusion

NEAR coin has a limited issuance supply of 1 billion tokens, with around 407.6 million tokens currently in circulation. A significant portion of tokens were distributed during the ICO, while the remaining portions are allocated to various parties. NEAR tokens have experienced a notable increase in value since their initial issuance and are used for a variety of purposes within the NEAR ecosystem.