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