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What is the issue price of SUSHI coins? Introduction to the issue price and issue quantity of SUSHI coins
The issue price of SUSHI tokens, the native crypto asset of the SushiSwap decentralized exchange, was initially set at $1.00 during the project's initial coin offering (ICO) in September 2020.
Oct 07, 2024 at 01:05 pm
What is the Issue Price of SUSHI Coins: A Guide to SUSHI Issuance
1. Understanding SUSHI Issuance
SUSHI, the native token of the SushiSwap decentralized exchange, is an ERC-20 token with a finite supply of 250 million coins. Its issuance follows a predetermined schedule designed to incentivize early adopters and provide long-term sustainability.
2. Issue Price
The issue price of SUSHI coins refers to the initial offering price at which they were made available for purchase. The project's initial coin offering (ICO) was held in September 2020 and offered SUSHI tokens at $1.00 apiece.
3. Issue Quantity
The ICO released a total of 6,000,000 SUSHI tokens, representing approximately 2.4% of the total supply. These tokens were sold to early investors and community members to raise funds for the project's development.
4. Distribution
The proceeds from the ICO were distributed as follows:
- 7% to development
- 4% to marketing
- 2.5% to legal and compliance
- 86.5% to a community treasury controlled by SUSHI holders
5. Post-ICO Distribution
After the ICO, additional SUSHI tokens were issued through various mechanisms, including:
- Farming rewards: SUSHI tokens were rewarded to users who provided liquidity to SushiSwap pools.
- Liquidity provider incentives: Bonuses were offered to liquidity providers in the form of SUSHI tokens.
- Governance proposals: SUSHI token holders could vote on proposals to determine how the treasury funds were used, which could include additional token issuance.
Conclusion
The SUSHI issue price was set at $1.00 during the ICO, and a total of 6,000,000 SUSHI coins were issued. The distribution of proceeds and subsequent token issuance mechanisms were designed to support the project's development and reward early adopters while creating a sustainable ecosystem for SUSHI token holders.
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