What is the issuance and circulation of ENJ coins?

Launched in 2017, Enjin's (ENJ) Ethereum-based token is primarily used as a gaming token within the Enjin ecosystem for managing in-game items and digital assets.

Oct 02, 2024 at 01:29 am

Issuance and Circulation of Enjin (ENJ) Coins

1. Issuance

• Enjin (ENJ) is an Ethereum-based token that was launched in 2017.
• It was created by the Enjin company, a provider of gaming software and blockchain services.
• A total of 1,000,000,000 ENJ tokens were created at the time of launch.

2. Initial Distribution

• 8% of the total supply (80 million ENJ) was distributed through a token sale in 2017.
• 20% of the supply (200 million ENJ) was reserved for the Enjin team and advisors.
• 52% of the supply (520 million ENJ) was set aside for community development and ecosystem growth.

3. Circulation

• As of August 2023, approximately 893 million ENJ tokens are in circulation.
• The remaining 107 million ENJ are held in reserve by the Enjin company.

4. Token Use Cases

• ENJ is primarily used as a gaming token within the Enjin ecosystem.
• It is used to create and manage in-game items, such as weapons, armor, and collectibles.
• ENJ can also be used for staking, voting, and purchasing digital assets.

5. Market Value

• ENJ's market capitalization as of August 2023 is approximately $322 million.
• Its price has fluctuated over time, reaching an all-time high of $4.08 in April 2021.