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What is the issuance and circulation of Stacks (STX) coins?
The Stacks (STX) blockchain boasts a circulating supply of approximately 1,187,000,000 tokens, a figure that has increased gradually due to the mining and staking of new STX.
Dec 08, 2024 at 08:20 pm
Issuance and Circulation of Stacks (STX) Coins
Stacks (STX) is a layer-1 blockchain that aims to bring smart contracts and decentralized applications (dApps) to the Bitcoin network. The STX token is the native cryptocurrency of the Stacks blockchain and is used for paying transaction fees, staking, and governance.
Issuance
The total supply of STX is 1,818,204,036 tokens. The initial distribution of STX tokens was as follows:
- 40% to the Stacks Foundation
- 20% to Stacks venture funds
- 20% to Stacks team members and advisors
- 20% to the public through a token sale
The Stacks Foundation is responsible for the development and governance of the Stacks blockchain. The venture funds will be used to invest in projects that build on the Stacks blockchain. The team members and advisors will receive their tokens over a four-year period.
Circulation
The circulating supply of STX is approximately 1,187,000,000 tokens. The remaining tokens are held by the Stacks Foundation, venture funds, and team members and advisors.
The circulating supply of STX has been increasing gradually over time. This is because new STX tokens are being minted to reward miners and stakers. The issuance rate of STX is determined by the Stacks Foundation and is currently set at 2.5% per year.
Use Cases
STX tokens have a number of use cases, including:
- Transaction fees: STX tokens are used to pay transaction fees on the Stacks blockchain. The transaction fee is determined by the size and complexity of the transaction.
- Staking: STX tokens can be staked to earn rewards. Staking helps to secure the Stacks blockchain and process transactions.
- Governance: STX token holders can participate in the governance of the Stacks blockchain. They can vote on proposals to change the protocol and elect members of the Stacks Foundation.
Conclusion
The Stacks blockchain is a promising new platform for smart contracts and dApps. The STX token is the native cryptocurrency of the Stacks blockchain and has a number of use cases. The total supply of STX is 1,818,204,036 tokens, and the circulating supply is approximately 1,187,000,000 tokens.
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