This article was first published on Hello ICON World - Medium
In an effort to increase transparency as we near the P-Rep election, the ICON Foundation has chosen to update our circulating supply tracker based on ‘Internally Controlled Addresses’ (ICAs). An ICA is a wallet fully controlled by the ICON team.
Tokens held in an ICA will not be considered part of Circulating Supply. Previously, the Circulating Supply number in our tracker was based on off-chain agreements and contracts. With this update, the tracker will be pointing directly to ICAs, and circulating supply will be equal to the Total Supply minus supply held in ICAs.
With this update, the circulating supply has increased from 473,460,668 to 490,271,394. The 16,684,706 ICX difference is not held in an ICA and is therefore part of Circulating Supply. Of the 16.7 million ICX, approximately 14.0 million ICX is in the custody of our partners including an investment fund to be invested into the growth of our ecosystem and 2.7 million ICX was given to advisors and team members on a vesting schedule. We would like to emphasize that the ICON team still indirectly controls the majority of this ICX, as much of it may be returned to an ICA at a later date.
Definition of Circulating Supply
Internally Controlled Address: ICX Address that the ICON team can control
- ICA Amount: Sum of ICX in Internally Controlled Addresses
- Circulating Supply = Total ICX Supply — ICA Amount
- Circulating Supply = 800,460,000–310,188,606 = 490,271,394
Tokens currently held in ICAs include tokens reserved for the ICON project operations, the DEX Reserve, and tokens allocated for team members.
Reserve for Dex
- Number of address: 1
- Given at ICO: 128,073,500 ICX
- Distributed: 0 ICX
- Remaining in ICA: 128,073,500 ICX
- Number of address: 14
- Given at ICO: 112,064,400 ICX ...
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Hello ICON World - Medium