Optimizing Coin Supply for Transparency and Self-Regulation
As a part of preparations for the final stage of network’s decentralisation we are making our coin supply more transparent for all coin holders. We took a decision to burn some of the previously allocated amounts such as Round B, Fork, and Founders Coins.
Namely:
Round B — 10% from max supply — 920 000 000 #MHC
https://venus.mhscan.com/?page=address&id=0x00169fbfb2f3b9e2934b46e146ce22f14921a0a02d32ff96f9
Now burned: http://venus.mhscan.com/?page=tx&id=afe5bd1d1bb1cc8f018f54731b89ff2054ce74263c8430a87795c30a3c7636fb
0.025% from this amount will be emitted daily to the wallet controlled by the team which is selected at that point of time to distribute funds for further project development. The team selected by all coin holders to continue project development will be responsible to use this funds in the best interests of the majority of coin holders.
The emission will start on February 18, 2020 and will take 4 000 days which is a bit more than 11 years.
Fork — 5% of max supply — 460 000 000 #MHC
https://venus.mhscan.com/?page=address&id=0x008ce3552eff4f6af4491e974527eb799b5ef1b7e4adce4244
Now burned: http://venus.mhscan.com/?page=tx&id=4cec28b5847999887e3173d6c76ca636a30d24bee03e8ee5b27dc429e7a69251
The initially planned fork could have been a great marketing tool for popularizing #MetaHash in a bull market. However in current conditions it would go against the interests of the majority of #MHC holders so now it is burned and instead added to the Forging pool.
125 000 #MHC per day will be added to the Forging pool each day during 3680 days after the initial 10 years emission will be over (so roughly plus 10 years to the current ones).
Founders coins — 3% of max supply — 276 000 000 #MHC
https://venus.mhscan.com/?page=address&id=0x000df8e341ea4911f012e12cba4e13755e3ef2bf91977370a8
Now burned: http://venus.mhscan.com/?page=tx&id=1acb735c351db0dc844f6692d270f7aa3ec4252c2e97ada295d6c2524b2d238e
To ensure #MetaHash community feel safer an additional transfer lock will be applied to Founders’ coins which will be emitted in 3 equal parts, each of 92 000 000 #MHC, to 3 wallets on January 1, 2020. According to new rules, these coins may be used for forging after January 1, 2020 but will have a lock of maximum daily transfer at no more than 0.25% daily during 400 days.
All the taken measures makes the current amount of coins limited to 1 104 000 000 #MHC (12% of max supply) which have been emitted in the genesis block. This number does not count forging rewards.
