We would like to inform our community of our current token circulation supply and token metrics.
1. Token supply
Firstly, below is the basic information regarding our token supply since the initial token generation event (TGE).
i) Key metrics
Based on the guidelines provided by Xangle, total supply of REDI token is as follows.
ii) token lock-up and allocation
Since the TGE, a total of 2,000 million REDI has been burned (Apr 22, 2019 & Oct 15, 2019). Tokens were released into the market under the lock-up schedule as stated at the time of TGE under specific token allocation criteria set below:
2. Token circulation supply
i) circulating supply (for period ending 2024 1Q)
To maintain a high standard of transparency regarding the usages of the REDI token, we have so far disclosed our token supply forecasts regularly via our official channels and to our official project disclosure platform, Xangle. Our most recent forecast was regarding the period from 2023 1Q to 2024 1Q.
ii) Current projections (2024 2Q)
As of the end of the 1st quarter of 2024 (Mar 31, 2024), we project a total token supply of 7,300 M redi tokens. In other words, a remainder of approximately 9% of total token supply is yet to be introduced to the trading market. This is below the initial forecast we have previously announced. Our team will adhere to strict internal guidelines to maintain the projections set forth, and prevent any circumstances in which the number of total circulating supply surpasses our aforementioned schedule.
iii) Future plans
Our team has decided not to release additional tokens into the market, and to maintain the current circulating supply until the end of the fiscal year 2024 period. Additionally, our team has initiated a buyback plan to retrieve a portion of the current circulating supply. For market stability, we are unable to disclose the details of our plan, but we will be sure to update our community of our progress at the year-end.
