Solana(SOL) is a high-performance, open-source blockchain platform. Founded in 2017 by Anatoly Yakovenko, a former Qualcomm engineer, Solana aims to improve blockchain scalability using a novel timestamp system called Proof of History (PoH). Unlike traditional blockchains that rely on Proof of Work or Proof of Stake consensus mechanisms, Solana's PoH allows for greater speed and efficiency. Solana's native cryptocurrency, SOL, is used for transaction fees and staking in its network. It also serves as a governance token, allowing holders to vote on changes to the network's protocol.
Despite being called the "Ethereum Killer" at the beginning and having excellent performance, Solana has experienced many downtimes，each time makes token price drop significantly. Also, In November 2022, with the collapse of FTX, Solana, as a project invested by FTX Ventures and Alameda and participating in ecological construction, is also affected by the incident.
Above are only for introduction, not intended as investment advice.
Explore the tokenomics of Solana (SOL) and review the project details below.
What is the allocation for Solana (SOL)?
The initial total supply of SOL is 500,000,000 tokens. The allocation is as follows:
- 12.79% (63.95 million SOL) was allocated to the founding team
- 10.46% (52.3 million SOL) was allocated to the Solana Foundation
- 16.23% (81.15 million SOL) was allocated to community reserves
- 12.92% (64.6 million SOL) was allocated to initial seed sale
- 5.18% (25.9 million SOL) was allocated to founding sale
- 1.88% (9.4 million SOL) was allocated to validator sale
- 1.64% (8.2 million SOL) was allocated to strategic sale
- 38.89% (194.45 million SOL) was allocated to public auction sale
What is the supply schedule for Solana (SOL)?
Solana uses a deflationary tokenomics model. The total supply of SOL decreases over time due to transaction fees being burned. This mechanism helps to reduce the overall supply and potentially increase the value of remaining tokens.
You can find the latest information of SOL supply and circulation at https://explorer.solana.com/