What is the issuance and circulation of FET coins?

With a current circulating supply of approximately 450 million and a market capitalization of $100 million, FET coins are traded on various cryptocurrency exchanges like Binance and Coinbase Pro.

Oct 07, 2024 at 12:00 am

Issuance and Circulation of FET Coins1. Issuance

FET coins were issued through an initial coin offering (ICO) held from May 24 to June 21, 2017.
A total of 1 billion FET coins were created, of which 50% were sold during the ICO.
The remaining 50% of FET coins were distributed as follows:
- 20% to the Fetch.AI team and advisors
- 20% to the Fetch.AI Foundation
- 10% to the Fetch.AI ecosystem

2. Circulation

The current circulating supply of FET coins is approximately 450 million.
FET coins are traded on various cryptocurrency exchanges, including Binance, Coinbase Pro, and FTX.
The market capitalization of FET is currently around $100 million.

3. Use Cases

FET coins are used to incentivize the Fetch.AI network and power various applications and services built on the platform. Here are some of the use cases:

Users pay FET coins to deploy agents (autonomous software entities) on the network.
Agents use FET coins as a form of payment for services and data on the network.
Node operators are rewarded with FET coins for providing computational resources to the network.
FET coins can be staked to earn rewards through the Fetch.AI Consensus Service.

4. Future Outlook

The future outlook for FET coins is positive. Fetch.AI is a promising project with a strong team and a solid foundation. The adoption of the Fetch.AI platform and its native cryptocurrency, FET, is expected to grow in the coming years. As the demand for FET coins increases, the price and market capitalization are likely to rise.

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