What is the issuance and circulation of CFX coins?

CFX Coin Issuance and Circulation1. Issuance

The CFX (Conflux Network) coin was first issued through a token sale in September 2018. The sale raised approximately 87,000 ETH, which was then converted into CFX tokens. The initial circulating supply of CFX was 1 billion tokens.

2. Circulation

After its initial issuance, CFX tokens have been distributed through various channels:

• Exchanges: CFX is listed on several cryptocurrency exchanges, including Huobi, OKEx, and Binance. This allows users to buy, sell, and trade CFX.
• Mining: New CFX tokens are created through a proof-of-work mining process. Miners are rewarded with CFX for verifying and adding blocks to the Conflux Network.
• Unlocking: Some CFX tokens were locked up during the token sale and have been gradually released over time.
• Staking: Users can stake their CFX tokens to earn rewards. Staking helps to secure the network and validate transactions.

3. Current Circulation

As of August 2023, the circulating supply of CFX is approximately 750 million tokens. The remaining CFX tokens are held by the Conflux Foundation and other entities.

4. Future Issuance

The total supply of CFX is capped at 10 billion tokens. However, the issuance schedule for the remaining tokens has not been announced.

5. Tokenomics

The distribution of CFX tokens is designed to align incentives and ensure the long-term success of the Conflux Network. The following is a breakdown of the tokenomics:

• Foundation: 15%
• Community: 65%
• Ecosystem Development: 15%
• Investors: 5%

The Foundation's tokens are used to support the development and maintenance of the Conflux Network. The Community tokens are distributed to users, miners, and stakers. The Ecosystem Development tokens are used to fund projects and initiatives that support the growth of the Conflux ecosystem.