What is the issuance volume of NYM (NYM) coins?

NYM tokens, with a total issuance capped at 1 billion, are allocated to various stakeholders, including 25% for early investors and the founding team, and 20% earmarked for the NYM Foundation and community treasury.

Dec 23, 2024 at 10:05 pm

Key Points:

• The total token issuance of NYM (NYM) is 1 billion.
• Of the total issuance, 25% is allocated to the founding team and early investors, 20% to the NYM Foundation, 20% to the ecosystem, 15% to the community treasury, and 20% is reserved for future issuance.
• NYM tokens are used as a medium of exchange within the NYM network to incentivize node operators and auditors for their contributions to the privacy-preserving ecosystem.

Issuance Volume of NYM (NYM) Coins

The issuance volume of NYM (NYM) coins is capped at 1 billion. The distribution of these tokens is as follows:

• Founding Team and Early Investors: 25% (250 million NYM)

• NYM Foundation: 20% (200 million NYM)

  • The NYM Foundation is a non-profit organization that supports the development and adoption of privacy-enhancing technologies. The foundation's mission is to promote privacy rights and improve the security of online communications.

• Ecosystem: 20% (200 million NYM)

  • The ecosystem allocation is reserved for initiatives that support the development and growth of the NYM network. This includes funding research and development, promoting adoption, and supporting community projects.

• Community Treasury: 15% (150 million NYM)

  • The community treasury is controlled by a decentralized governance system that allows token holders to vote on how funds should be utilized. The funds in the treasury can be used to support a variety of purposes, such as funding grants, supporting community initiatives, and providing financial assistance to individuals and organizations that contribute to the NYM ecosystem.

• Future Issuance: 20% (200 million NYM)

  • The reserve allocation is intended for potential future issuance, such as rewarding long-term contributors, supporting future development initiatives, and responding to unforeseen needs.

FAQs:

• What is the purpose of NYM tokens?

  • NYM tokens are used to incentivize node operators and auditors within the NYM network. Node operators are responsible for verifying and relaying transactions on the network, while auditors verify the authenticity of transactions and help ensure the integrity of the system.

• How are NYM tokens distributed?

  • NYM tokens are primarily distributed through mining rewards to node operators and auditors. A portion of tokens is also allocated to the founding team, the NYM Foundation, the ecosystem, and the community treasury.

• How do I acquire NYM tokens?

  • NYM tokens can be acquired through cryptocurrency exchanges that offer the token. They can also be earned by participating in the NYM network as a node operator or auditor.