How much is the Symbol(XYM) currency issued?

The total supply of the Symbol (XYM) currency is capped at 8,999,999,999 XYM, ensuring a limited and controlled issuance over time.

Dec 08, 2024 at 03:18 am

How Much is the Symbol (XYM) Currency Issued?

The Symbol (XYM) currency is a cryptocurrency that is designed to be used as a medium of exchange and a store of value. It is based on the blockchain technology, which is a distributed database that is used to record transactions and track assets.

The Symbol (XYM) currency was created by the Symbol Foundation, a non-profit organization that is dedicated to promoting the development and adoption of the Symbol blockchain. The Symbol (XYM) is the native currency of the Symbol blockchain. It is used to pay for transaction fees and to reward stakers who help to secure the network.

The total supply of Symbol (XYM) currency is capped at 8,999,999,999 XYM. Of this total supply, 70% is allocated to stakers, 15% is allocated to the Symbol Foundation, 10% is allocated to the community, and 5% is allocated to the team.

Issuance Schedule

The Symbol (XYM) currency is issued gradually over time. The issuance schedule is designed to ensure that the supply of XYM is not too high or too low, and that it is distributed fairly to all stakeholders.

The issuance schedule for the Symbol (XYM) currency is as follows:

• Year 1: 2,000,000,000 XYM
• Year 2: 1,500,000,000 XYM
• Year 3: 1,000,000,000 XYM
• Year 4: 500,000,000 XYM
• Year 5: 250,000,000 XYM
• Year 6: 125,000,000 XYM
• Year 7: 62,500,000 XYM
• Year 8: 31,250,000 XYM
• Year 9: 15,625,000 XYM
• Year 10: 7,812,500 XYM

After year 10, the issuance of XYM will be reduced by 50% every year until the total supply of 8,999,999,999 XYM is reached.

Distribution

The Symbol (XYM) currency is distributed to stakers, the Symbol Foundation, the community, and the team. The distribution schedule is as follows:

• Stakers: 70%
• Symbol Foundation: 15%
• Community: 10%
• Team: 5%

The Symbol (XYM) currency is distributed to stakers based on the amount of XYM that they stake. The more XYM that a staker has, the more XYM they will receive. The Symbol Foundation is allocated 15% of the total supply of XYM to fund its operations and to promote the development and adoption of the Symbol blockchain. The community is allocated 10% of the total supply of XYM to fund community-driven projects and initiatives. The team is allocated 5% of the total supply of XYM to compensate them for their work on the Symbol blockchain.

Conclusion

The Symbol (XYM) currency is a cryptocurrency that is designed to be used as a medium of exchange and a store of value. It is based on the blockchain technology, which is a distributed database that is used to record transactions and track assets. The total supply of Symbol (XYM) currency is capped at 8,999,999,999 XYM. The Symbol (XYM) currency is issued gradually over time and distributed to stakers, the Symbol Foundation, the community, and the team.