What is the total issuance of Oraichain (ORAI) coins?

ORAI, Oraichain's native token with a fixed issuance of 10 billion, is utilized for staking, governance, and transaction fees on the network.

Dec 22, 2024 at 03:56 am

Key Points:

• Oraichain's (ORAI) total issuance is 10 billion tokens.
• A portion of the ORAI supply is reserved for staking rewards and ecosystem development.
• ORAI is an ERC-20 token that can be stored in popular cryptocurrency wallets.
• ORAI is used for staking, governance, and payment of transaction fees on the Oraichain network.

Article Content:

1. Total Issuance of Oraichain (ORAI) Coins

Oraichain has a total issuance of 10 billion ORAI coins. This fixed supply ensures scarcity and safeguards against inflation. The limited supply also contributes to the token's potential for price appreciation based on demand and market conditions.

2. Distribution of ORAI Tokens

The distribution of ORAI tokens is carefully planned to support the growth and development of the Oraichain ecosystem. The token allocation includes:

• Staking Rewards: A significant portion of ORAI is allocated to staking rewards, incentivizing token holders to contribute to network security and stability.
• Ecosystem Development: A portion of the supply is designated for ecosystem development, supporting the creation of decentralized applications, partnerships, and community initiatives on the Oraichain platform.
• Team and Advisors: A small percentage is allocated to the Oraichain team and advisors, acknowledging their contributions to the project.
• Public Sale: A portion of the ORAI supply was offered to the public through token sales, allowing individuals to participate in the growth of the network.

3. Utility of ORAI

ORAI serves as the native token of the Oraichain network, playing a crucial role in its operations and governance:

• Staking: ORAI holders can stake their tokens to participate in the network's consensus mechanism. Stakers receive rewards for providing computational resources and helping to secure the blockchain.
• Governance: ORAI holders can vote on proposals related to the Oraichain ecosystem, including protocol upgrades, fee structures, and ecosystem funding decisions.
• Transaction Fees: ORAI is used to pay for transaction fees on the Oraichain network. This fee mechanism incentivizes token holders to contribute to network security and helps cover operational costs.

4. ORAI Token Standards and Storage

ORAI is an ERC-20 token, compliant with the Ethereum blockchain standards. This means that ORAI can be easily stored and managed in popular cryptocurrency wallets, such as MetaMask, Trust Wallet, and Coinbase Wallet.

FAQs:

1. What is the current circulating supply of ORAI?

The current circulating supply of ORAI is approximately 50% of the total issuance (5 billion tokens). This supply is expected to increase over time as more tokens are released for staking rewards and ecosystem development.

2. How is ORAI's price determined?

ORAI's price is influenced by factors such as supply and demand on exchanges, market sentiment towards cryptocurrencies, the overall state of the cryptocurrency market, and project-specific news and developments.