What is the issuance price of SKL coin?
- WBOYOriginal
- 2024-07-24 10:12:01461browse
SKL coin issuance price is $0.07. Within the Synthetix ecosystem, SKL coins are used to pay transaction fees, earn staking rewards, and participate in governance.
SKL Coin Issuance Price
SKL Coin, full name Synthetix Network Token, is the native token in the Synthetix ecosystem. It was issued at 0.07 USD.
About SKL Coin
Synthetix is a decentralized finance (DeFi) platform that allows users to create and trade synthetic assets on the Synthetix protocol that track the prices of various financial instruments such as stocks, commodities, and forex . SKL Coin plays a pivotal role in the Synthetix ecosystem, including:
- Transaction Fees: Users are required to pay transaction fees when transacting on the Synthetix protocol, and these fees are partially paid for with SKL Coin.
- Staking Rewards: Users can stake SKL coins to the Synthetix protocol to receive staking rewards.
- Governance: SKL coin holders can participate in the governance of the Synthetix protocol and vote on changes and improvements to the protocol.
Issue Details
SKL Coin was issued through an Initial Coin Offering (IEO) in December 2019. A total of 100 million SKL coins were created and distributed as follows:
- 45%: Community (allocated via IEO)
- 30%: Synthetix team and advisors
- 15%: Investors
- 10%: Future development and operations
Current Price
As of the time of writing (March 1, 2023), the price of SKL Coin is approximately $0.11 USD. Its price has fluctuated significantly since its release, reaching a high of $2.68.
SKALE (SKL), a cryptocurrency designed to scale the Ethereum network, is currently quoted at $0.037. SKL’s price dropped a massive 16% despite trading volume reaching $26.3 million in the past 24 hours. With a total supply of 7 billion, SKL currently has a circulating supply of approximately 5.49 billion and a total market capitalization of $204 million. Technical indicators show that SKL has a relative strength index (RSI) of 33, indicating it is in oversold territory, while the moving averages are trending bearish, suggesting a further downward trend is possible in the near term. Despite its recent weakness, SKL's potential value as an Ethereum scaling solution remains noteworthy, and long-term investors will likely keep a close eye on its future performance.
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