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What is the issuance amount of LOOM coins?
The total issuance amount of LOOM coins, the native cryptocurrency of the Loom Network, is 1 billion, distributed through seed rounds, private sales, and a public sale.
Dec 02, 2024 at 07:00 pm
What is the Issuance Amount of LOOM Coins?
loom network is a blockchain platform that enables the development and deployment of decentralized applications (dApps). The LOOM token is the native cryptocurrency of the Loom Network and is used to pay for transaction fees, staking, and other network operations.
Issuance Amount of LOOM Coins:
The total issuance amount of LOOM coins is 1,000,000,000 (1 billion).
Distribution of LOOM Coins:
- Seed Round (2017): 15% (150,000,000 LOOM)
- Private Sale (2018): 35% (350,000,000 LOOM)
- Public Sale (2018): 50% (500,000,000 LOOM)
Token Distribution Use Cases:
- Transaction Fees: LOOM coins are used to pay for transaction fees on the Loom Network.
- Staking: LOOM coins can be staked to participate in network governance and earn rewards.
- Network Operations: LOOM coins are used to fund network operations, such as development and maintenance.
Token Release Schedule:
- Seed Round: Released immediately after the sale in 2017.
- Private Sale: 20% released immediately after the sale in 2018, with the remaining 80% released over 24 months with a 6-month cliff.
- Public Sale: 10% released immediately after the sale in 2018, with the remaining 90% released over 36 months with a 12-month cliff.
Current Circulating Supply of LOOM Coins:
As of January 2023, the circulating supply of LOOM coins is approximately 649 million.
Factors Influencing LOOM Coin Value:
- Network Adoption: The number of dApps built on the Loom Network and the usage of LOOM coins for transactions and staking.
- Market Conditions: The overall cryptocurrency market conditions, including supply and demand for cryptocurrencies.
- Development and Partnerships: The pace of development on the Loom Network and partnerships with other projects and companies.
- Competition: The presence of other blockchain platforms and cryptocurrencies that offer similar services.
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