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How much is the PENDLE coin issued?
The PENDLE token's initial issuance encompassed 100 million tokens, with 40 million available for public sale and the remaining 60 million allocated to various stakeholders, resulting in a current circulating supply of approximately 40 million tokens as of July 2023.
Dec 08, 2024 at 11:33 pm
How Much is the PENDLE Coin Issued?
Introduction
Pendle is a decentralized finance (DeFi) protocol that allows users to create and trade synthetic assets on the Ethereum blockchain. The PENDLE token is the native token of the Pendle protocol and is used for a variety of purposes, including:
- Governance: PENDLE holders can vote on changes to the protocol.
- Staking: PENDLE holders can stake their tokens to earn rewards.
- Fees: PENDLE is used to pay for fees on the Pendle protocol.
Token Issuance
The PENDLE token was issued through a public sale in November 2021. A total of 100 million PENDLE tokens were created, of which 40 million were sold in the public sale. The remaining 60 million tokens are reserved for the Pendle team, advisors, and other stakeholders.
Circulating Supply
As of July 2023, the circulating supply of PENDLE is approximately 40 million tokens. This means that 40 million PENDLE tokens are currently available for trading on the market.
Market Capitalization
The market capitalization of PENDLE is calculated by multiplying the current price of PENDLE by the circulating supply. As of July 2023, the market capitalization of PENDLE is approximately $40 million.
Token Distribution
The PENDLE token is distributed as follows:
- Public sale: 40%
- Team: 25%
- Advisors: 10%
- Ecosystem fund: 10%
- Liquidity mining: 5%
- Reserve: 10%
Tokenomics
The PENDLE tokenomics are designed to incentivize long-term holding of PENDLE. The token has a limited supply, which means that the number of PENDLE tokens in circulation will never increase. This makes PENDLE a deflationary asset, which means that the value of each PENDLE token is likely to increase over time.
In addition, PENDLE holders can earn rewards by staking their tokens. Staking PENDLE allows holders to earn a portion of the fees generated by the Pendle protocol. This provides holders with a passive income stream and further incentivizes long-term holding of PENDLE.
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