Information about POA and POA20 tokens
The POA token is the native token or coin of the POA Network. It is used on the POA Network for transactional purposes, for transaction fees (gas), and as a reward mechanism for validators. DApps such as DopeRaider use POA for in-game purchases as well as transaction costs, while others like Geon leverage POA for gas fees while providing users with their own in-game tokens.
The POA20 token is a representation of the POA token available to use on the Ethereum mainnet. It is an ERC20 token which has all of the same properties as the POA token but is compatible with the mainnet.
POA's initial token supply when the core network was launched was 252,460,800 POA.
- 20% or 50,492,160 POA was reserved for founders/foundation/legal and released over two years.
- 10% or 25,246,080 POA was distributed to partners and advisors of POA Network.
- 70% or 176,722,560 POA was reserved for the token sale. All tokens were sold during the presale in 58 seconds.
Two additional POA tokens are created with each new new validated block on the network. 1 token is distributed to the block validator, and the other is sent to the POA Emission Fund. Blocks occur every ~5 seconds, resulting in: 31,536,000 sec/5 sec per block = 6,307,200 blocks created per year and 12,614,400 POA tokens minted per year.