HAVAH Coin Circulation Status and Information Disclosure for 2023
Greetings! This is HAVAH, the Next-Generation Interchain Platform.
To ensure transparent management and disclosure of the circulation of HAVAH Coin (HVH), team HAVAH updated HAVAH Scan’s Ver.1.0.19 on December 20th (HAVAH Scan update link).
We are aware of the problems with circulation that have arisen in a number of projects, both nationally and worldwide. As of right now, HAVAH Scan and CoinMarketCap, CoinGecko, and other services reveal the circulation. Nonetheless, there are a few minor variations because these services use different calculation techniques. In order to avoid confusion caused by these variations, we intend to update HAVAH Scan with circulation information.
Disparities in the current understanding of which wallet balances to include in circulation and the policies regarding wallet lockups are the cause of the reported circulation differences across platforms. For instance, a wallet address that is owned jointly may be deemed to be in circulation even in the presence of lockup policies, but an address that is owned by a foundation may be deemed to be out of circulation regardless of lockup status.
For this reason, the team HAVAH updated HAVAH Scan to clearly and concisely show the circulation of HVH in two primary categories: “Maximum Circulatable Supply,” and “Circulating Supply.”
1. Total Supply
- Includes all coins issued so far (including lockups and Sustainable Fund)
- Pre-minting quantity + Planet operation contribution reward quantity
2. Maximum Circulatable Supply (Max CS)
- Maximum amount that can be circulated in the market as of the current date
- Total Issued — (Lockup quantity + Sustainable Fund quantity)
3. Circulating Supply
- Quantity currently circulated in the market
- A portion of Maximum Circulatable Supply currently held in personal wallets and exchanges
- Cannot exceed the maximum circulating quantity stated in the white paper
1. Total Supply
Ten billion will be issued in total, of which 4.76 billion are issued at TGE and an additional 4.3 million will be issued every day (this amount decreases by 30% each year).
Total Issued = 4,768,331,333 HVH + Planet operation contribution reward quantity
As an example, 100 days after TGE, 5.19 billion would be the Total Issued.
→ 4,768,331,333 + (4,300,000 * 100 days) = 5,198,331,333
2. Maximum Circulatable Supply (Max CS)
The circulatable supply is the total issued minus all locked quantities. The Sustainable Fund, unclaimed planet rewards, project development team, ecosystem, partner sale, and reserve are among the locked quantities.
The wallet addresses are as follows and can be checked anytime on HAVAH Scan:
- Partner Sale: cx1100000000000000000000000000000000000002
- Reserve: cx1100000000000000000000000000000000000003
- Ecosystem: cx7000000000000000000000000000000000000000
- Project Development Team: cx1100000000000000000000000000000000000001
- Public Treasury (Planet Operation Contribution Rewards): hx3000000000000000000000000000000000000000
Regarding the pre-minting phase, the whitepaper states that all HVH quantities are currently locked, with the exception of 300 million HVH that are used for ecosystem marketing. The HAVAH whitepaper contains the lockup and vesting schedules for each item.
As for the Planet Operation Contribution Rewards, planet holders can claim HVH from the Public Treasury wallet, where 4.3 million HVH are currently awarded each day. Claims can be made instantly only for planets that were sold through public sale, including pre-sale. At this time, planet rewards obtained through private sales are locked and cannot be claimed. Furthermore, the planet rewards HVH for the 5000 project units(holdings) do not yet have a circulation plan. To be clear, 60% of the planet rewards HVH for the 5000 project units, which are automatically transferred to the ecosystem and circulated in accordance with the lockup policy, as stated in the whitepaper. The remaining 40%, however, are not locked and have not yet circulated a single HVH.
To put it simply, the maximum available supply is approximately 820 million coins. This includes 300 million coins for ecosystem marketing, 362 million coins as rewards for the project’s held Planet, and 250 million coins for contributions to the Planet drive from the public sale. Out of the total of 870 million coins, around 53 million coins are restricted and locked up in the sustainable fund, resulting in a capped value of approximately 820 million coins.
Maximum Circulatable Supply = Total Issued — Locked-up quantity (Partner Sale + Reserve + Ecosystem + Project Development Team + Unclaimed Planet rewards + Sustainable Fund)
3. Circulating Supply
The actual Circulating Supply is the portion of the Maximum Circulatable Supply that has moved from the original wallets to other wallets, excluding the holdings of the Sustainable Fund. This figure is derived from the movement of HVH coins from the wallets mentioned above: Partner Sale, Reserve, Project Development Team, Ecosystem, and Public Treasury.
Following verification of the actual transferred quantity, the circulating supply is approximately 290 million coins (HVH). This figure is calculated by deducting the locked-up amount of 53 million coins from the total of 347 million coins, which includes 142 million coins moved from the ecosystem and 250 million coins sold as Planet rewards during the public sale.
Team HAVAH is dedicated to transparently sharing this information and keeping the early stages of circulation at an appropriate level. We hope to improve our team’s credibility with this update to HAVAH Scan.
Thank you.
