What is the issuance amount of Request (REQ) coins?

The REQ token is used for various purposes on the Request Network, such as paying transaction fees, funding dispute resolution services, earning rewards through staking, and facilitating governance (in future versions).

Dec 26, 2024 at 03:01 am

Key Points:

Request (REQ) is an Ethereum-based ERC-20 utility token that powers the Request Network, a decentralized payment and invoicing platform.
The REQ token is used to pay for transaction fees, dispute resolution services, and other services on the Request Network.
The issuance amount of REQ coins is 1,000,000,000.

Issuance Amount of Request (REQ) Coins:

The issuance amount of Request (REQ) coins is 1,000,000,000. Of this total supply, 15% was allocated to the development team, 15% to early contributors, and 70% to a token sale held in 2017.

Token Distribution:

Development Team: 150 million REQ (15%)
Early Contributors: 150 million REQ (15%)
Token Sale: 700 million REQ (70%)

Token Sale:

The Request Network token sale was held from October 18 to October 31, 2017. The sale raised approximately $48 million in ETH and BTC. The tokens were sold at a price of 0.0025 ETH or 0.00025 BTC per REQ.

Token Use Cases:

The REQ token is used for a variety of purposes on the Request Network, including:

Paying transaction fees
Paying for dispute resolution services
Staking to earn rewards
Governance (in future versions of the Request Network)

FAQs:

What is the current price of REQ?
- The current price of REQ can be found on cryptocurrency exchanges such as Binance, Coinbase, and Kraken.
What is the market capitalization of REQ?
- The market capitalization of REQ is approximately $100 million.
What is the future of REQ?
- The future of REQ depends on the adoption and growth of the Request Network. If the Request Network becomes a widely used platform for payments and invoicing, the value of REQ is likely to increase.

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