-
bitcoin $87959.907984 USD
1.34% - ethereum
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-2.87%
When was LOOM coin issued?
In June 2018, LOOM Network raised $46 million through an ICO, selling 60% of its LOOM tokens at $0.40 each.
Dec 01, 2024 at 01:04 pm
- June 2018: Initial Coin Offering (ICO)
- LOOM Network conducted its ICO from June 28 to July 12, 2018.
- The ICO raised a total of $46 million, with each LOOM token sold at $0.40.
- Approximately 60% of the tokens were offered during the ICO.
- September 2019: Token Swap
- LOOM Network announced a token swap for its ERC-20 LOOM tokens to native LOOM tokens on its own blockchain in September 2019.
- The token swap allowed LOOM holders to convert their ERC-20 tokens to native LOOM tokens on a 1:1 basis.
- The token swap was necessary for LOOM Network to transition to its own blockchain and become independent of the Ethereum platform.
- March 2021: LOOM Coin Burn
- LOOM Network implemented a coin burn mechanism in March 2021 as part of its tokenomics strategy.
- The coin burn removed a portion of LOOM tokens from circulation, reducing the overall supply.
- The coin burn was intended to increase the scarcity of LOOM tokens, potentially driving up their value.
- Ongoing: Staking and Rewards
- LOOM Network allows users to stake their LOOM tokens to earn rewards.
- Staking contributes to the security and operation of the LOOM blockchain.
- Stakers earn rewards in the form of additional LOOM tokens, which are distributed prorated to the amount of tokens staked.
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