What is the total circulation of mkr coins?
The total issuance of MKR tokens is 1,000,000, distributed as follows: 6% for pre-sale, 12% for team and advisors, 16% for reservation, 30% for community development fund, and 36% for ecosystem fund. In addition, MKR has a deflation mechanism and can be burned through stability fees and governance votes. MKR is primarily used for governance, staking, and value storage.
Total MKR Token Issuance
MKR is the governance token of the MakerDAO platform. MakerDAO is a decentralized lending platform that allows users to borrow the DAI stablecoin using collateral.
Total circulation:
The total circulation of MKR tokens is 1,000,000.
Allocation:
- Pre-sale: 6% (60,000 coins)
- Team and advisors: 12% (120,000 coins)
- Reserved: 16% (160,000 coins)
- Community Development Fund: 30% (300,000 coins)
- Ecosystem Fund: 36% (360,000 coins)
Inflation and Deflation:
The total issuance of MKR tokens is fixed at 1,000,000, so there is no inflation. However, there is a deflation mechanism where MKR tokens can be burned via:
- Stability fee: Stability fees are charged when users repay their DAI loans fee. A portion of the stability fee will be used to buy back and destroy MKR.
- Governance Voting: MKR holders can decide whether to destroy MKR through governance voting.
Uses:
MKR tokens are mainly used for:
- Governance: MKR holders Participants can vote on the decisions of the MakerDAO platform.
- Collateral: MKR can be used as part of the collateral on the MakerDAO lending platform.
- Store of Value: Due to its limited supply and governance role, MKR is considered a store of value asset.
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