DFINITY to adjust ICP circulating supply calculation

[Anonymous No.54483007]

Proposal to update/align current definition with industry standard (CMC, coinmarketcap). Current calculation (= CS of 59%) too conservative compared to peer projects. New calculation would result in significantly higher CS amount of currently 80.1%.

https://forum.dfinity.org/t/circulating-supply-definition/19297

>TLDR

>There is no industry standard for defining circulating supply (CS) and coins can vary drastically on their definition due to particularities of the specific coin. At the time of Mainnet launch, DFINITY chose a complicated and conservative definition for circulating supply, and we are now evaluating how to simplify that definition and align closer to the behaviors of major L1 chains. We submit to the community that a reasonable definition of CS for ICP, which both simplifies the definition and aligns with industry practices, is to define circulating supply as total supply minus liquid tokens owned by the DFINITY Foundation.

Currently the following are NOT included in circulating supply:

- ICP that DFINITY holds on behalf of other entities

- ECT and seed round neurons that locked and/or increased their dissolve delay.

- Unclaimed dormant ICP (as opposed to even BTC)

>Under [the updated] definition, the circulating supply of ICP today would be 398.5M ICP. This would put the percent of circulating supply to total supply at 80.1%, which is in line with our peers.

80.1% would put ICP between AVAX/SOL and NEAR/MATIC/DOT (see percentage table in link). Notable remark about higher CS coins:

>In almost every case, a coin’s circulating supply is at least 70% of total mint and in many cases (such as Cardano, TRON, Aptos and Algorand) the percentage is greater than 96% (which begs the question, how are these coin’s foundations funding themselves?).

[Anonymous No.54483089]

>>54483007
AAAAAAAAAAAAAAAA RUGPULL AAAAAAAA DUMP IT GET OUT WHILE YOU STILL CAN

[Anonymous No.54483093]

>>54483007
I’m retarded, please explain

[Anonymous No.54483094]

Next up community discussion followed by governance vote.

>Next Steps

>DFINITY is interested in the community’s thoughts regarding this topic. After discussion, if the community is in agreement with a definition, DFINITY plans to submit a motion proposal to the NNS for governance approval. If the proposal is approved then DFINITY will update the formula on the dashboard for Circulating Supply and will update any required integrations with external partners like CoinMarketCap.

There you have it. Supply fudders can finally stop panicking like little girls. I know I know, we'll soon be able to buy at $0.03 obviously. Who would wanna buy icy pee and at $5 at that, only the most advanced project out there. Nothing to see, keep selling, move along.

[Anonymous No.54483397]

>>54483007
>>54483094
What will AVAX fags say when ICP's circulating supply goes up by 35% in a day?

[Anonymous No.54483500]

>>54483397
I will call them dumb poor niggers like I do every day for years now.

[Anonymous No.54483516]

>>54483007
So we would increase to a $2 billion market cap in a day and/or dump us to a $3.25 price in a day?
This is going to cause a lot of panic if they do this. I mean it’ll be a nice dip to accumulate since technically nothing has changed. But the initial spam of icp supply has increase by 35% in a day is gonna be ridiculous

[Anonymous No.54483552]

>>54483516
Nothing changes but the definitions. The FDV MCap will remain unchanged and likely the redefinition will not cause a change in price.

[Anonymous No.54483594]

>>54483552
The market cap will change with an increase circulating supply. So either we randomly just jump up to a $2 billion mcap and then have a panic dump since it will be spammed that the supply increased by 35%.
That’s exactly what will happen if they do this.

[Anonymous No.54483631]

>>54483594
dam im gonna slurp so hard

[Anonymous No.54483836]

>>54483631
Please give a fucking date for this release so I can open a 10x short on the coin and accumulate more

[Anonymous No.54483902]

This was just priced in. Thanks mate

[Anonymous No.54484218]

>>54483594
>>54483631
>>54483836
No geniuses, why would price drop, it's not like additional tokens would be released to the market and dumped onto exchanges for sale. The whole 'additional' circulating supply is already distributed and held by someone. DFINITY just hasn't officially labeled/declared these tokens as such until now. So most likely mcap simply increases accordingly and ICP rises up in ranks.

[Anonymous No.54484277]

>>54484218
Panic dump retard. I guarantee whales will take advantage of this. Spam icp circulating supply increases by 35% cause panic of baggies they sell along with whales causing dump. Whales accumulate more for cheapies. I guarantee this will happen. The price will eventually turn to normal but you can’t have a 35% circulating supply increase if it changes nothing and $500 million mcap increase without consequences

[Anonymous No.54484290]

>>54483516
>>54483594
>>54483631
Ngmi

[Anonymous No.54484293]

>>54483007
ICP is a scam and moonman is a scammer.

[Anonymous No.54484317]

>>54484290
How do you think there’s going to be no consequences of this in the short term. Is everyone here a retard?

[Anonymous No.54484338]

>>54483007
Layering the scam.
Nice.

[Anonymous No.54484372]

>>54484293
>https://forum.dfinity.org/t/circulating-supply-definition/19297
oh fock off and give it a rest

[Anonymous No.54484753]

>>54483007
The culmination of the rugpull, as was foretold. 3 cents valuation won't be a meme for much longer, believe me.
Dump this project NOW, while you still can.
Yes, I know you bought in at $60 per ICP when it was shilled by le epic racist moonman.
Yes, I know the fundamentals looked really good (kek).
Yes, I know you lost tremendous amounts of money on this shitcoin and deep down you always believed it would bounce back.
But it's over. There is no turning back for internet computer 'investors'. It's time to let go.

[Anonymous No.54484824]

>>54484218
>DFINITY hasn't officially labeled/declared these tokens until now.
Unbelievable... they hid millions of tokens from the public and the markets and now they can just dump them on their unsuspecting victims.
Dom is a criminal, he needs to be arrested.

[Anonymous No.54484837]

>>54484753
Try harder.

[Anonymous No.54484918]

>>54484824
Dfinity's greed knows no bounds. They are going to keep dumping until there is no more liquidity then they will uncover some couple million hidden coins they have had this whole time and keep dumping some more.

What a fucking shit show. This token was truly never destined to pump after all. Who knows what else they are hiding.

[Anonymous No.54484925]

.

[Anonymous No.54484949]

>>54484824
Why are 90% of replies retarded here? These tokens are not in DFINITY's control, ergo not for DFINITY to dump. These tokens could've been sold at any time already, regardless of inclusion in circulating supply definition or not. They arem't going to be sold. It's as if Satoshi's BTC wasn't included in circulating supply because it's been dormant ever since (obviously it does count towards it). DFINITY is simply counting more (ALREADY circulating) tokens towards CS through updated definition, which if anything is bullish because it means that there is more supply already in circulation (NOT OWNED BY DFINITY TO DUMP) than anticipated by the market.

[Anonymous No.54484987]

>>54484918
>>54484949

[Anonymous No.54485003]

>>54484317
The supply remains constant, so the market cap is unaffected. Consider this idea: Market cap is determined by multiplying the fully diluted supply by the price. In essence, coins are simply being shifted from the non-diluted to the diluted portion of the value equation.

[Anonymous No.54485082]

>>54485003
The other way around, tokens go would from diluted to undiluted portion. Regular market cap is circulating supply times price. Circulating supply would increase, with total supply remaining unchanged of course, which should therefore increase (undiluted) mcap. Price should be unaffected.

[Anonymous No.54485112]

>>54484277
Tired of this gigascam that actually has competent people working on it. Literally everyone is in the red on this bullshit.

[Anonymous No.54485171]

>>54485003
look man, I understand what you are saying (there is no actual increase in supply so obviously this shouldn't drive the price down)
but in reality people are going to see total market cap go up, and feel there is less opportunity to make money on ICP, which will result in a dump.

[Anonymous No.54485332]

>>54485082
who's affected? Every normal person that have bought this coin has literally been dusted. No profit, ever holding this, since its rebrand. how bad this piece of shit performs is simply unique in crypto. And that team doesnt come for cheap. Keep being complacent keep licking their boots punkass faggots lets go to 0 together then

[Anonymous No.54485382]

>>54484949
Shut the fuck up nigger 3 years of dump, and this will undoubtedly be another dump event. They sold too many tokens for too low of a price have a bloated team that demands big salaries and we will keep eating shit on it for years more.

[Anonymous No.54485387]

>>54485171
1.5b to 1.9b, which changes nothing in terms of price targets, I need to absolutely sell asap immediately, no question.

[Anonymous No.54485420]

>>54485387
Lets ride it to 0 uniroinically

[Anonymous No.54485448]

>>54485420
Let's. I'm not selling here. But definitely buying at $2 if you're willing to sell to me there.

[Anonymous No.54485573]

>>54485448
im fine with burning it virtually thanks

[Anonymous No.54485665]

>>54485573
What's your average entry?