MEER Distribution

The total issuance of Meer Coin is 210.24 million. As outlined in our economics, block rewards generated through the PoW mechanism lead to a continuously decreasing annual inflation rate until it reaches 0%. Among these coins, 76% of Meer is generated through fair mining, eliminating pre-mining and private sales, ensuring equitable distribution. The remaining 20% is allocated to early supporters participating in the 18-month Medina testnet phase. The final 4% is allocated to the development team for network development.

It's crucial to emphasize that the construction of the Medina testnet is also based on genuine computational participation, aiding in network iteration to ensure security and reliability.

Genesis Output

The genesis output constitutes 24% of the total circulation. This currency output stems from the value accumulated by the Qitmeer Network during the Mekka and Medina periods before the launch of the Umayyad mainnet. The specific distribution of the genesis output is as follows:

• The founding team receives approximately 4% of the total circulation, equivalent to 8.4096 million Meer.

• The Medina testnet period distribution accounts for around 20% of the total circulation, amounting to 42.048 million Meer. This recognizes and inherits the value accumulated by contributors participating in the Mekka and Medina testnet periods.

PoW Output

The PoW output constitutes 76% of the total circulation. Qitmeer Network's block reward plan utilizes a smooth decay method. Unlike cryptocurrencies like Bitcoin that use halving, Qitmeer employs a smooth decay approach to balance long-term economic viability and user adoption.

The initial high reward rate helps distribute the financial burden of network operations among a wider token holder base. As adoption increases, the growth rate of token supply gradually decreases.

Overall, the economic model of the Qitmeer Network aims to balance long-term development with the interests of holders. As a highly scalable, inclusive, and open next-generation high-performance public blockchain based on PoW consensus, a stable economic model is a cornerstone of its development.

As of September 22, 2023, the actual circulating supply of Meer Coin stands at 85,264,314 coins, accounting for only 40% of the total. For more detailed allocation specifics, please refer to: Economics of Qitmeer Umayyad Network 1.0