FIRMACHAIN
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FIRMACHAIN

Inflation-Adjusted Circulation Supply of FCT/FCT2

Hello. This is FIRMACHAIN.

Per our previous announcement on FIRMACHAIN’s lock-up release schedule, we have updated the expected circulation supply of FCT(FCT2) after adjusting for inflation. With the launch of FIRMACHIN’s mainnet Colosseum, the tokens are subject to what are commonly referred to as ‘inflation’.

In order to provide a more accurate inflation adjusted circulation supply estimate, we’ve based our calculation on the total supply of swapped tokens after the major cryptocurrency exchanges on which FCT(FCT2) are listed have completed the FIRMACHAIN mainnet migration.

For your information, out of the total supply scheduled to be released from lock-up in December 2021, 4,035,280 FCT have been placed under lock-up again.

Due to the aforementioned, the actual supply being released from lock-up has decreased from what has originally been planned. The difference has been allocated as testnet reward and mainnet genesis validator reward and will be sequentially released from lock-up starting 2023.

This announcement is the inflation-adjusted expected circulation supply estimate. Please note that aside from what has been mentioned in this posting, no changes have been made to our previous lock-up release schedule.

Inflation-adjusted expected circulation supply estimate(unit measured in FCT/FCT2)

* [MIN] Minimum inflation rate of 8%
* [AVERAGE] The average value of the MIN value and MAX value
* [MAX] Inflation rate of 15%
* [Circulation Supply] Circulation supply from previous lock-up schedule + Amount minted - Community Pool (Approximately 3% of the minted amount)
  • This update can be confirmed by checking the real time inflation rate obtained from mainnet operation. The expected circulation supply estimate has been deduced from a number of different inflation rate scenarios that can happen at this time.
  • Amount allocated to the community pool will be transferred upon approval of the relevant governance proposal. At this point, therefore, we will exclude the aforementioned from the circulation supply estimate.
  • Annual inflation rate will be adjusted accordingly within a range of min. 8% to max. 15%, depending on the mainnet operation policy, business environment, governance proposals etc.
  • The above circulation supply schedule has been provided solely for reference purposes and is subject to change depending on the project’s roadmap or ecosystem expansion plan.
  • The above circulation supply update is valid from the date of posting to May 2023, but the above is not necessarily the final circulation supply.
  • The above is subject to change pending FIRMACHAIN’s governance proposals and whether the respective proposal passes or not.

Information on the updated expected circulation supply estimate can also be found on CoinMarketCap, CoinGecko and the announcement channel of cryptocurrency exchanges. Please note that depending on the data processing environment of the respective platform, there could be minor differences in the information being provided.

Please note that information on the inflation rate and other network related metrics can be found on the block explorer.

Thank you.

The circulation and issuance schedule included in this posting are all estimates and are subject to change in the future depending on factors such as DApp expansion plan, Validator and staking participation rate, the market value of FCT(FCT2) etc. If any significant change to the inflation-adjusted issuance and circulation supply occurs, we can notify of such change and the reasons for such change before applying such change.

For more information about FirmaChain, or partnership inquiries, please contact us at contact@firmachain.org. Those who wish to join the FirmaChain team, please contact us at info@firmachain.org.

About FIRMACHAIN

FIRMACHAIN originally aimed to transfer all paper based social and legal activities onto the blockchain to introduce transparency and prevent document tampering and forgery. Maintaining the fundamental value of trust, the FIRMACHAIN team is now turning its gaze to becoming a comprehensive blockchain platform. Our goal is to provide business entities and FIRMACHAIN holders with useful blockchain based services that are useful yet fun to engage with thereby satisfying the team’s goal to become a ‘Utilitainment’ (Utility + Entertainment) platform.

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