Post
Topic
Board Announcements (Altcoins)
Re: [ANN][GRT] Grantcoin: Proof-of-Participation Grants for Sustainable Business
by
freebird
on 10/07/2015, 08:25:10 UTC
What did you guys cut the number of coins to? 1 billion or less, maybe 500 million, is good if you want the coins to hold value.

We didn't actually burn any coins, but we cut the number of coins that will be sold by the Grantcoin Foundation on exchanges down to 100 million. They will be sold at specific prices from 50 satoshis to 5,000 satoshis (or approximate equivalent in other currencies), so most of these coins will not even enter circulation unless the price rises a lot from where it is now.

See the article we posted a few weeks ago:
http://www.grantcoin.org/2015/06/11/foundation-to-sell-less-grantcoin-provide-buy-support-focus-on-charity-and-e-commerce/

There are also coins being created through mining, and I think most of those are being sold on exchanges by the miners. So far, almost 20 million GRT has entered circulation in this way. The total GRT to be created through mining is about 37 million, something like that.

There is about 10 billion GRT total, most of which will eventually be released into circulation as grants, but that will take years and years to occur. We're not going to put a lot of coins out there unless/until there is significant investor demand to support it.