What is a Siacoin?

Siacoins are used for utility on the Sia network; renters buy storage space with Siacoins and hosts are paid in Siacoins for selling their storage space. Hosts also post collateral in Siacoins and miners mine Siacoins via Proof-of-Work.

Essentially, Siacoins are tokens that power the Sia network – they are the network currency.

Siacoins were never used for fundraising, and the Sia core team holds less than 0.1% of the total Siacoins supply.

Siacoins are mined via Proof-of-Work, and the Sia core team pre-mined less than 0.1% of the total Siacoin supply at launch.

Sia Press Release

SEC-Issued Settlement

Administrative Summary

Waiver

Waiver Request Letter


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