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What is the issuance and circulation of MEW coins?
Matrix Exponent Technologies issued a total supply of 10 billion MEW in December 2017, with an initial circulating supply of approximately 5 billion MEW as of December 2022.
Oct 14, 2024 at 08:48 am
Issuance and Circulation of MEW Coins
1. Issuance
- Issuer: Matrix Exponent Technologies (MET)
- Initial Issuance: December 2017
- Total Supply: 10 billion MEW (hard-capped)
- Circulating Supply: Approximately 5 billion MEW (as of December 2022)
2. Distribution
- Initial Coin Offering (ICO): 2.5 billion MEW (25% of total supply) sold through an ICO in 2017.
- Team and Advisors: 2.5 billion MEW (25%) allocated to the MEW team, advisors, and early investors.
- Rewards and Ecosystem Development: 2.5 billion MEW (25%) reserved for blockchain rewards, ecosystem development initiatives, and community programs.
- Community Pool: 2.5 billion MEW (25%) released gradually over time for community governance and development purposes.
3. Circulation
- Exchanges: MEW is listed on various cryptocurrency exchanges, including Binance, Huobi, KuCoin, and Gate.io.
- Wallets: MEW can be stored in various cryptocurrency wallets, such as MEWconnect, Trust Wallet, and MetaMask.
- Decentralized Applications (dApps): MEW is integrated into the Matrix Mainnet ecosystem and used for staking, network fees, and governance within dApps.
4. Uses of MEW
- Staking: MEW holders can stake their coins to participate in the consensus mechanism and earn rewards.
- Network Fees: MEW is used to pay transaction fees on the Matrix Mainnet.
- Governance: MEW holders have voting rights on proposals that affect the development and direction of the Matrix ecosystem.
- Decentralized Finance (DeFi): MEW can be used for various DeFi applications, such as lending, borrowing, and yield farming.
5. Price and Market Cap
- Current Price (as of December 2022): Approximately $0.01 USD
- Market Cap: Approximately $50 million USD
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