What is the issuance and circulation of ORAI coins?

ORAI coins, issued through an ICO in 2021, serve as the native tokens for the Orai protocol, facilitating transaction fees, staking, and governance within its ecosystem.

Oct 06, 2024 at 01:36 am

Issuance and Circulation of ORAI Coins

1. Issuance

ORAI coins were officially issued on September 29, 2021, through an initial coin offering (ICO). The ICO raised $25 million in funding.

2. Distribution

• Presale: 20% of the total supply was allocated to the presale, which took place in August 2021.
• Public sale: 40% of the total supply was allocated to the public sale, which took place in September 2021.
• Team and advisors: 20% of the total supply was allocated to the team and advisors.
• Ecosystem and community: 20% of the total supply was allocated to the ecosystem and community development.

3. Circulation

• Total supply: 1 billion ORAI coins
• Circulating supply: As of [date], approximately 500 million ORAI coins are in circulation.

4. Use Cases

ORAI coins are used for the following purposes on the Orai protocol:

• Transaction fees: Users pay transaction fees in ORAI when sending or receiving data on the network.
• Staking: Holders can stake their ORAI coins to earn rewards and secure the network.
• Governance: ORAI holders can participate in the governance of the Orai protocol by voting on proposals.

5. Market Performance

The price of ORAI has fluctuated significantly since its launch. The all-time high price of $1.25 was reached in October 2021. As of [date], the price of ORAI is approximately $0.25.

6. Conclusion

ORAI coins are the native tokens of the Orai protocol. They were issued through an ICO in 2021 and are used for transaction fees, staking, governance, and other purposes within the Orai ecosystem.