What is the issuance and circulation of SUSHI coins?

SUSHI Coin Issuance and Circulation

SUSHI is the native token of the SushiSwap decentralized exchange (DEX). It provides governance rights and rewards for liquidity providers. Here's a detailed overview of its issuance and circulation:

Issuance

Genesis Block: SUSHI was first distributed on August 28, 2020, through the genesis block of the SushiSwap platform. The initial issuance was 100 million SUSHI tokens.

SushiSwap Farms: SUSHI is continuously minted as rewards for users who provide liquidity to SushiSwap pools. Liquidity providers stake their crypto assets in these pools to earn a share of trading fees and SUSHI tokens.

Minting Rate: The SUSHI minting rate is governed by the SushiSwap community and can be adjusted through proposals and votes. The current minting rate is approximately 4.2% per year, distributed as follows:

• 60% to liquidity providers as SUSHI rewards
• 20% to the SushiSwap treasury
• 20% to xSUSHI stakers (SUSHI holders who stake their tokens for long-term rewards)

Circulation

Current Circulation: As of November 28, 2023, the total circulating supply of SUSHI is approximately 63.2 million tokens. This represents 63.2% of the initial issuance.

Burn Mechanism: A portion of the SUSHI transaction fees on SushiSwap is burned, reducing the circulating supply. This deflationary mechanism helps maintain the value of the token over time.

Token Distribution: The distribution of SUSHI tokens is as follows:

• 30% to the community through liquidity mining
• 25% to SUSHISwap protocol treasury
• 25% to team members
• 20% to early contributors

Market Capitalization: The market capitalization of SUSHI at the time of writing is approximately $475 million. It ranks among the top 100 cryptocurrencies by market cap.