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The total supply is 9 billion tokens, divisible to eight decimal places. All tokens were issued with the creation of the genesis block (the first block in the IEP blockchain), leaving the genesis account with an initial negative balance of 9 billion token. The existence of anti-tokens in the genesis account has a couple of interesting side effects:

  • the genesis account cannot issue transactions of any kind, since its balance is negative and it cannot pay transaction fees.
  • any tokens sent to the genesis account are effectively destroyed, since that account’s negative balance will cancel them out.

The choice of the word tokens is intentional due to IEP’s intention to be used as a base protocol that provides numerous other functions. IEP’s most basic function is one of a traditional payment system, but it was designed to do far more.