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What is the circulation amount of Loopring (LRC) coins?
As of 2023, the circulating supply of Loopring (LRC) coins is approximately 1.36 billion LRC, representing freely tradable tokens available in the market.
Dec 08, 2024 at 01:35 pm
What is the Circulation Amount of Loopring (LRC) Coins?
Understanding Loopring and Its Function
Loopring is a decentralized exchange protocol that allows users to trade tokens directly between themselves without relying on a third-party exchange. It employs a zero-knowledge proofs (ZKPs) technology, known as Loopring 3.0, to provide scalability and privacy to the transactions.
Circulating Supply of Loopring (LRC) Coins
The circulating supply of Loopring (LRC) coins, as of 2023, is approximately 1.36 billion LRC out of a total supply of 1.38 billion LRC. The limited supply of LRC coins contributes to its scarcity and potential value appreciation.
Distribution of LRC Coins
The LRC coins are distributed among various stakeholders, including:
- Project Team and Advisors (14%): A portion of the coins is allocated to the project team and advisors who have contributed to the development and operation of Loopring.
- Token Sale (30%): Loopring raised funds through a token sale in 2017, distributing LRC coins to early investors and supporters.
- Ecosystem Incentives (20%): A significant portion of LRC coins is reserved for various ecosystem incentives, such as rewards for staking, liquidity provision, and protocol usage.
- Reserved (36%): The remaining LRC coins are held in reserve by the Loopring team for future development, partnerships, and strategic initiatives.
Determining Circulating Supply
To determine the circulating supply of LRC coins, it is essential to exclude coins held in reserve or locked in staking contracts. The circulating supply represents the freely tradable portion of the total LRC supply.
Importance of Circulation Supply
The circulating supply of LRC coins is a crucial factor in understanding the liquidity and value of the token. It reflects the actual number of coins available for trading and influences the supply and demand dynamics in the market.
Monitoring LRC Circulation
The circulating supply of LRC coins is constantly monitored and updated by various exchanges, trackers, and blockchain explorers. These platforms provide real-time information on the number of coins in circulation, enabling users to make informed trading decisions.
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