Re: [Ann] [OTN] Open Trading Network | OTN Token | Uniting the crypto world
Circulating Supply
2,577,480 OTN
Iqoption i see 1,312,540
token distribution from Iq it's 1,312,540 OTN in marketcap see 2,577,480 OTN this 1,264,940 come from??? OTN foundation?
Supposing the price go down because last day put in market over 1 million token from where??? then sell and price go down,that's true?
more token price get down......now my answer this 1,264,940 token coming from where?
just for know about transparency because I not see any news about new token entry from where
2,577,480 OTN
Iqoption i see 1,312,540
token distribution from Iq it's 1,312,540 OTN in marketcap see 2,577,480 OTN this 1,264,940 come from??? OTN foundation?
Supposing the price go down because last day put in market over 1 million token from where??? then sell and price go down,that's true?
more token price get down......now my answer this 1,264,940 token coming from where?
just for know about transparency because I not see any news about new token entry from where
That is a good question.
CoinMarketCap is an independent company having their own vision on how to define the circulation supply of any token. In OTNs case their formula does not do justice and below we clarify it. According to the Whitepaper and the section discussing token distribution we highlight the following:
- 28,000,000 OTN tokens were given to IQ Options team and shareholders. These tokens are NOT blocked and at any time can be on the exchanges and market.
- Additional 51,000,000 OTN tokens cannot be transferred except only only for planned purposes 30 mil. tokens are owned by The Open Trading Network Foundation, 16 mil. tokens will be distributed over a 2 years period (every quarter 2 million tokens) as a bonus to token holders, 5 mil. tokens are reserved to OTN.Wallet users to motivate them.
Therefore, Circulation Supply = TOTAL SUPPLY - 51,000,000 => 81,038,759 - 51,000,000 = 30,038,759
Capitalization should be calculated as follows CAP = (TOTAL SUPPLY 51,000,000) * Token Price
At the moment CAP = (81,038,759 51,000,000) * $20.2 = $606,782,932
We believe that this circulation supply calculation provides a more accurate representation to traders and investors concerned about the total number of circulating tokens and risks associated with it.