What is Dagcoin (DAGS)? Dagcoin is a cryptocurrency created in 2017 with a purpose of being a medium for value transfer from peer to peer. The distributed ledger technology chosen was directed acyclic graph (DAG), primarily for four reasons: faster confirmation speed, lower fees, greater scalability and energy-efficiency.

The aim of the project is usability and ease of use, hence the focus on being a scalable layer 1 cryptocurrency without the hassle of gas during transactions. Development of a vast ecosystem of platforms and services has served the purpose of encouraging transactions amongst early adopters and starting to scale further.

How many DAGS are there in circulation? Dagcoins were first issued in June 2017 as tokens on Byteball network with a total supply of 10 million tokens. The project launched its mainnet early 2018 with 9 billion DAGS created at genesis. Token swap event was held in May 2018 for token holders to swap their old tokens for the mainnet coins with a ratio 1 to 10, benefiting every holder.

According to the tokenomics, 5% of total supply was reserved for the team which is 450m coins, 2.55bn was distributed to the community over a 5 year period and 6bn reserved for usability partnerships, use cases, functionality and advancement of the project.