Can someone explain how the FCT tokens are produced? I have seen info on coinmarketcap.com that there are 8,753,219 FCT in existence but it is a non mineable token.
Thank you
They were created as an ICO. Once M3 goes live, approximately 73,000 more FCT will be created per month. However, the more entries are added into Factom, the more Factoids will be burned. As such, the more Factom is used, the less net FCT will be created per month. Until M3 goes live (M2 testnet just went live), FCT will be burned and not created. As such, on a daily basis, and likely for at least a solid year, the total amount of FCT will go down.
Thanks for the info! What about after the first year? Does the supply increase? So it would make sense to own FCT once M3 goes live since in theory it should be more valuable?