توكنوميكس Cardano (ADA)

Issuance Mechanism

• Maximum Supply: 45 billion ADA.
• Initial Distribution: Cardano was funded through a multi-stage Initial Coin Offering (ICO) in Asia from September 2015 to February 2017. Approximately 25.93 billion ADA (~57.62% of the max supply) was sold during the ICO.
• Ongoing Issuance: New ADA is issued as staking rewards. 0.30% of ADA’s reserve (maximum supply minus circulating supply) is distributed every five-day epoch, with rewards split between stakers and the Cardano treasury. The reserve started with ~13.8 billion ADA (~30.66% of max supply).

Allocation Mechanism

Usage and Incentive Mechanism

• Network Fees: ADA is used to pay transaction fees on the Cardano network. Fees are calculated based on transaction size and a minimum constant.
• Staking: ADA holders can delegate their tokens to stake pools or operate their own pools. Both delegators and pool operators receive ADA rewards for securing the network and producing blocks.
• Governance: ADA is used for on-chain governance, including voting in Project Catalyst, which funds ecosystem projects.
• DeFi and Native Tokens: ADA is required for interacting with DeFi protocols and for minting/transacting native tokens on Cardano.

Locking Mechanism

• Staking: ADA delegated for staking is not locked; users retain full control and can move their tokens at any time, though rewards are distributed at the end of each epoch.
• Governance (Voting): For Project Catalyst and future Voltaire governance, ADA may be temporarily locked to represent voting rights and prevent double voting.
• Smart Contracts: ADA can be locked in smart contracts for DeFi, escrow, or other use cases, depending on contract logic.

Unlocking Time

• Team/Entity Allocations: For IOG, 1/3 of ADA was unlocked at network launch (September 2017), with the remaining 2/3 unlocked on June 1, 2018, and June 1, 2019.
• Staking/Delegation: No lock-up period; ADA can be withdrawn or redelegated at any time.
• Governance: ADA used for voting is typically locked for the duration of the voting period, after which it is released.

Summary Table

Additional Notes

• No Superuser Functions: There is no evidence of superuser privileges (e.g., pausing, freezing, or forcibly transferring ADA).
• Native Token Support: Cardano natively supports custom tokens without smart contracts, but only ADA is used for fees and rewards.
• Treasury and Rewards: A portion of staking rewards is allocated to the Cardano treasury for future ecosystem development.

For further details, see the official Cardano documentation and Cardano monetary policy.