Weekly Token Spotlight: IAG

IAG is the utility token of the Iagon Protocol and powers the Iagon ecosystem, scheduled for mainnet launch this December on Cardano. Iagon is a decentralized Shared Storage & Compute Economy on the Cardano blockchain, emphasizing regulatory compliance. Robust decentralized data storage and compute power infrastructure will be instrumental in shaping the future of industries such as artificial intelligence, healthcare, finance, and manufacturing, driving innovation and progress on a global scale. This article will explore its native token IAG, its tokenomics, liquidity, utility, and more.

IAG Tokenomics & Distribution

IAG Distribution Pro page on TapTools

IAG has a total supply of 1 billion tokens. Currently 335.93 million of these tokens are in circulation, equivalent to 33.6% of the tokens supply. At 0.353 IAG per ADA, this gives the token a market cap of $74,006,544 and a fully diluted market cap of $220,301,263, placing it at #6 in the Top 50 on TapTools.

IAG has 10,637 holders, up 10.55% in the last 30 days. The token has a median holder balance of 634.90 IAG equivalent to 226.52 ADA, and an average holder age of 207.50 days, signifying the dedicated community behind the project.

The above image breaks down the tokenomics of the IAG token. The largest portion is slated for community incentives at 46.5% of the total supply, followed by development which makes up for 11.2% of the total supply. The Iagon team is only alloted a modest 8.5% of the supply of the token.

Liquidity

IAG Liquidity Pro page on TapTools

IAG has 2.69 Million ADA in liquidity across 4 Decentralized Exchanges on Cardano. The most liquid exchange for the token is Minswap which has 57.42% of the total liquidity, followed by WingRiders which holds 16.62%, and VyFinance coming third with 12.98% of the token’s total liquidity.

Volume

IAG Volume Profiler Pro page on TapTools

There have been 108,246 IAG trades on Cardano DEXs totalling 202.32 Million ADA in volume, equivalent to 1.62 billion IAG. The token has 101.89 million ADA in buy volume and 100.43 million ADA in sell volume, with the majority of these trades taking place on the Minswap DEX.

Utility

We’ll now delve into the utility that IAG has to offer.

Resource Node Provider Staking: Resource providers can dedicate their idle computational resources to the IAGON network and receive IAG tokens in exchange for their contribution and performance. Iagon Resource providers will be required to stake IAG tokens to provide resources to the network.

Holder Staking: IAG holders can delegate their tokens to a resource provider to increase their storage capacity and earn a share in rewards generated.

Yield Generation: Subscription fees overpaid by customers are used to generate yield. Resource providers are eligible to earn a share of this yield.

Conclusion

This article explored the IAG token and its role in the Iagon ecosystem on the Cardano blockchain, delving into tokenomics, distribution, liquidity on decentralized exchanges, trading volume, and the token’s utility. IAG provides an opportunity for users to actively participate in the shared storage and compute economy, fostering a sense of ownership within the network. The data storage market, valued at $217.02 billion in 2022, is forecasted to grow to a staggering $777.98 billion by 2030, representing a projected percentage increase of approximately 258%.

You can find out more about IAGON at the following link: https://iagon.com/