What is the issuance and circulation of SUPRA coins?

SUPRA coins enter circulation through an ICO process in which pre-mined coins are sold to investors and the proceeds are used to fund network development.

Dec 03, 2024 at 09:26 am

What is the Issuance and Circulation of SUPRA Coins?

SUPRA is a decentralized, open-source, and permissionless blockchain protocol that aims to provide a secure, scalable, and efficient way for developers to build decentralized applications (dApps). The native token of the SUPRA network is the SUPRA coin, which is used to pay for transaction fees, participate in governance, and stake for rewards.

Issuance of SUPRA Coins

The issuance of SUPRA coins is controlled by a smart contract on the SUPRA blockchain. The smart contract creates a fixed number of SUPRA coins, which are gradually released into circulation through a process known as mining.

Mining

Mining is the process of verifying and adding transactions to the SUPRA blockchain. Miners use specialized computer hardware to solve complex mathematical problems. The first miner to solve a problem receives a reward in the form of SUPRA coins.

The mining process is designed to be energy-efficient and secure. The difficulty of the mathematical problems increases as more miners join the network, ensuring that the blockchain remains secure even in the face of a large number of attackers.

Initial Coin Offering (ICO)

In 2021, the SUPRA Foundation conducted an ICO to raise funds for the development of the SUPRA network. The ICO sold a portion of the pre-mined SUPRA coins to investors.

The proceeds from the ICO were used to fund the development team, purchase equipment, and expand the SUPRA ecosystem.

Circulation of SUPRA Coins

Once SUPRA coins are mined or purchased through an ICO, they enter circulation. SUPRA coins can be used for a variety of purposes, including:

Transaction Fees

SUPRA coins are used to pay for transaction fees on the SUPRA blockchain. Transaction fees are paid to miners who verify and add transactions to the blockchain. The transaction fee is determined by the size of the transaction and the current demand for blockchain resources.

Governance

SUPRA coin holders can participate in the governance of the SUPRA network. Coin holders can vote on proposals that affect the future of the network, including changes to the protocol, the addition of new features, and the distribution of funds.

Staking

SUPRA coin holders can stake their coins to earn rewards. Staking involves locking up SUPRA coins for a period of time to support the security and stability of the network. In return for staking their coins, stakers receive a portion of the transaction fees generated on the blockchain.

Current Supply and Distribution of SUPRA Coins

As of [date], the total supply of SUPRA coins is [total supply]. The current circulating supply of SUPRA coins is [circulating supply]. The majority of SUPRA coins are held by the SUPRA Foundation, early investors, and active stakers.