Marketcap

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Koinos Marketcap can be explained quick and dirty - the short version - though to fully understand the details, a longer version is needed.

the Short version

Koinos Marketcap is around 100 million tokens (dd March 2024).

Please note: market data websites such as CoinGecko and CoinMarketCap may show different data. To understand why this is, refer to the Long version below.

the Long version

Back in 2020, all KOIN coins were mined on the Ethereum blockchain using the Proof-of-Work consensus algorithm. The maximum was set to 100 million coins. Mining stopped just a bit before the 100 million coins got mined.

Back in 2023, the Koinos mainnet was launched. Moving the previously mined coins at Ethereum was activated when mainnet was launched. This is called the 'claiming process'.

Since the launch of Koinos mainnet around 53% of KOIN coins are claimed. Meaning: about 53 million KOIN are minted on the Koinos mainnet in the claiming process. The remaining 47% of KOIN coins still need to be claimed. In the image below you can see these number (dd 17 March 2024):

  • Virtual Supply: the total of minted KOIN on Koinos mainnet which is the claimed KOIN plus the new KOIN from inflation
  • FDV (Fully Diluted Valuation): the total of all minted KOIN on Koinos mainnet plus all the KOIN tokens that are not claimed yet

caption

The 'Virtual Supply' equals the total of all minted KOIN on mainnet plus a token called 'VHP (Virtual Hash Power'. Miners of the Koinos blockchain, burn their KOIN and receive VHP tokens for it. These VHP tokens are gradually converted into KOIN again, for those that use their VHP to mine. The unlock algorithm is based on various dynamic data. Not going into detail: In the situation 50% of all minted KOIN is burned for VHP, and with all VHP used for mining, it takes about a year to convert all VHP back to KOIN. In practice, this period may be shorter, or longer. This depends on various parameters such as the percentage of VHP and the algorithm itself which isn't linear.

Market data websites have their own way of determining and presenting marketcap data.

CoinGecko

CoinGecko uses an API of the Koinos blockchain to determine the market cap. Today they use the total of circulating KOIN + unclaimed KOIN to present the values for 'circulating'. A value for Fully Diluted isn't provided, but this would be the total of circulating KOIN plus the total of VHP tokens plus the unclaimed KOIN. Total and Max supply are infinite since KOIN doesn't have a fixed maximum. As mentioned before, KOIN has an inflation model set to a minor percentage of 2% a year.

CoinMarketCap

CoinMarketCap uses self-reported values for the 'circulating' as well as for the 'fully diluted' parameters they present on their website. While some time ago these values were correct, by now they are not. The current values are not accurate. This error needs to be solved by CoinMarketCap. From time to time the KOINOS community shares the updated values with CoinMarketCap, it is up to CoinMarketCap to process these updates. They are quite slow in this though.

Links

  • KOINER - actual values for FDV, Circulating Supply and more - please hover over the question mark button at 'Virtual Supply' to see a breakdown in KOIN and VHP
  • KOIN at CoinGecko - KOIN market data page at CoinGecko
  • KOIN at CoinMarketCap - KOIN market data page at CoinMarketCap