Prosper
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Prosper

Circulating Supply Update

Display fixed on CoinMarketCap and CoinGecko

Team statement

Dear community,

We have had some questions and feedback concerning the recent change of the $PROS circulating supply given by CoinMarketCap and Coingecko. We would like to address them and make sure everything is transparent.

Before we start, we would like to enforce that this change is only a display update and does not represent an actual sudden increase of the number of tokens on the market.

Past situation

Until a few days ago, the $PROS circulation supply was displayed on CoinMarketCap and CoinGecko as about 4.5M, as we had originally declared it at project launch. The Full tokenomics of $PROS have always been public and could be found on our medium here.

We think that it is important to outline that according to these tokenomics, our overall unlock of tokens to date should be above 50% of the total supply— more than 50M tokens.

However, we have been working on the project with minimal expenses and will continue to do so. We are building what we believe is a great project and have no intention to sell or transfer any tokens unless duly justified and transparently communicated to the community. As a result, we have kept them locked and the current effective circulation amounts is significantly lower than publicly stated in the tokenomics.

Until now, the circulating supply numbers on CMC and CG were not taking the vesting completion of our investors wallet into consideration. It turns out after investigation that our request for update was not properly followed on our side, which we apologize for. We have however been repeatedly communicating to our community that these numbers were outdated and giving our best estimation of what the actual circulating supply was.

Current Situation

This morning (09/21/22), CoinMarketCap and CoinGecko updated their supply numbers and now display 19.244M tokens (19.2%) in circulation, which corresponds to the tokens put on the market by the project and investors before January 2022 plus the sum of our exchanges liquidities.

This increase in supply does not correspond to any token sale by the project, which can be verified on-chain through the Project wallets declared on CoinGecko (displayed when hovering the mouse over the Circulating supply number question mark).

Here is the list of the public project wallets :

Masternodes / Staking — 29,415,325 $PROS, no movement since 376 days (transfer to AnimocaBrands)
Team / Investors / Contractors — 13,375,000 $PROS, no movement since 376 days (transfer to AnimocaBrands)
Ecosystem Incentives — 12,000,000 $PROS, no movement since 376 days (transfer to AnimocaBrands)
Marketing Operations — 9,487,500 $PROS, no movement since 376 days (transfer to AnimocaBrands)
Community Funds — 5,000,000 $PROS, no movement since 376 days (transfer to AnimocaBrands)
Liquidity Provisioning — 607,224 $PROS, no outbound transaction for 380 days.

Treasury — 10,782,420 $PROS, down from 15M since 10th of September 2021: Tokens provided for exchange listings.
Private sales investors
— 87.5k $PROS remaining in wallet, unvested since 21st of January 2022.

As you can see, our supply has been steady since January except for exchange liquidities, and the update of the circulating supply numbers was finally triggered by our recent listing of the PROS/BUSD pair on Binance.
Today’s market movements on the PROS/BUSD pair were driven by normal market conditions and not by any large sale from the project.

We are deeply sorry for any inconvenience caused by the precedent outdated information given on CoinMarketCap and CoinGecko. Although we are doing our best, we are still experiencing some operational delays caused by the integration to AnimocaBrand’s portfolio. We will keep working to improve communication to our community and avoid such discrepancies.

Thank you for your understanding and support to the project,

The team.

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Prosper

Prosper

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Short-term non-custodial prediction and hedging platform based on Binance Smart Chain. Start here: https://beta.prosper.so