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The first day of the ANN thread, Mark says there is no mining at all for BanxShares. When were the 2 phases of PoW? Before the coin was announced?
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How did they end up with almost exactly 6 million, AFTER that? Another dev might shed some light:
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Besides, he later says that the coin is 100% premined:
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There was a premine to 6 million, and then a maintenance phase using PoW where the block reward was something like 1 BANX+fees, which is why the total # of coins rapidly went over 6M. The wallet was changed to reward 0 BANX+fees but it was too late to fix it (and breaks the chain when fees=0). So 3 "phases", 4 if you count the newer PoS coin. At least that's what I remember from reading the code back then.
The newer PoS coin mitigates this "overmining" with a tiny stake reward, usually by the exchange's wallet to maintain the network.
At the moment it's impossible to know the actual volume since the trades are off-chain on Banx.io afaik.
On the plus side BANXshares could have been just a database of shares on Banx.io, but it was implemented as a coin instead, which is much more transparent, but clearly not perfect.