NYM (NYM) coin issuance time

NYM's initial coin offering (ICO) in November 2020 raised approximately $10 million, with 50% of the tokens distributed to ICO participants.

Dec 23, 2024 at 08:23 pm

NYM (NYM) Coin: Issuance Timeline and Key Details

Key Points

• NYM is a privacy-focused blockchain protocol that enables anonymous communication and data sharing.
• NYM's native cryptocurrency, NYM, is used for staking, governance, and transaction fees.
• NYM's issuance timeline includes several key milestones, such as the initial coin offering (ICO), mainnet launch, and staking rewards distribution.
• The NYM ICO was held in November 2020 and raised approximately $10 million.
• NYM's mainnet launched in September 2021, marking the official commencement of the NYM network.
• NYM staking rewards began to be distributed to token holders in October 2021.

Issuance Timeline

Initial Coin Offering (ICO)

• Held in November 2020
• Raised approximately $10 million
• Token distribution: 50% to ICO participants, 30% to the NYM Foundation, 20% to the development team

Mainnet Launch

• Launched in September 2021
• Marked the official commencement of the NYM network
• Enabled the use of NYM tokens for staking, governance, and transaction fees

Staking Rewards Distribution

• Began in October 2021
• Distributed to token holders who stake their NYM tokens on the NYM network
• Staking rewards are generated through transaction fees and inflation

Token Economy

Total Supply: 1 billion NYM
Circulating Supply: Approximately 300 million NYM (as of January 2023)
Token Allocation:

- ICO: 50%
- NYM Foundation: 30%
- Development team: 20%

Use Cases for NYM

Staking:

• Staking NYM tokens helps secure the network and validate transactions.
• Stakers earn rewards in the form of additional NYM tokens.

Governance:

• NYM token holders have the right to vote on proposals that affect the development and governance of the network.
• Proposals can include changes to protocol parameters, new features, and partnerships.

Transaction Fees:

• NYM tokens are used to pay for transaction fees on the NYM network.
• The fees are designed to cover the cost of network operations and incentivize validators.

FAQs

Q: What is the purpose of NYM?
A: NYM is a privacy-focused blockchain protocol that enables anonymous communication and data sharing.

Q: When was the NYM ICO held?
A: The NYM ICO was held in November 2020.

Q: How many NYM tokens are in circulation?
A: Approximately 300 million NYM tokens are currently in circulation (as of January 2023).

Q: How can I stake NYM tokens?
A: You can stake NYM tokens by participating in the NYM Staking Program. Detailed instructions are available on the NYM website.

Q: How do I earn staking rewards?
A: Staking rewards are distributed to token holders who stake their NYM tokens on the NYM network. Rewards are generated through transaction fees and inflation.

Q: What are the benefits of staking NYM tokens?
A: Staking NYM tokens helps secure the network and validate transactions. Stakers also earn rewards in the form of additional NYM tokens.