PANews reported on July 25 that according to official content, the TOWNS token is about to be launched, with an initial supply of 10.128 billion tokens. The token distribution includes node inflation at 1.27%, first-year nodes at 7.9%, team at 21.46%, investors at 13.74%, public investors at 2.62%, airdrop at 9.87%, and community reserve at 43.14%.
It is understood that TOWNS has raised approximately $39.91 million from Coinbase Ventures, Benchmark, Framework Ventures, and others. The protocol has accumulated transaction revenue of over $30 million, generated protocol fees of more than $3 million, and sent tips exceeding $2.7 million through the protocol.
Previous reports indicated that Towns Protocol plans to burn $TOWNS tokens through fee buybacks, with fees generated since its launch exceeding $2.1 million.
