Change in Circulating Supply Calculation and Notation Method(MARO & ACN)
We would like to notify you that starting August 28th, 2023, there will be a significant adjustment to how the circulating supply is calculated and denoted. This is not an introduction of a new change but rather a more accurate and standardized way of representing the circulating supply that has always been in a ‘fully unlocked’ state. Previously, tokens owned by the foundation and the eco-fund were excluded from the total supply. This method was not a technical lock-up but was determined by the company’s internal policy regarding lock-ups and unlocks.
However, this method differed from the methods of other blockchain projects. Designating and updating wallets manually often led to communication errors and delays with exchanges and potential cooperative partners. Furthermore, our previous policy was perceived to decrease the predictability of the expected circulating supply, potentially affecting our credibility. At the same time, our project’s market cap was sometimes undervalued compared to other projects.
For these reasons, we have decided to standardize our circulating supply calculation method in line with other projects. Moving forward, all wallets that are not technically locked up and are managed by the foundation will be included in the circulating supply. Relevant updates are planned to take place on August 28th, 2023. The foundation’s circulating supply related API, MARO SCAN, and distribution plan submitted to existing exchanges will all be updated.
This change will apply to both MARO and Acorn Protocol simultaneously. As a result, there might be a short-term increase in circulating supply and changes in market cap.
However, irrespective of this change in the method of circulating supply calculation, the foundation will continue to maintain and execute its internal budget management policy as we have for the past 6 years. We will strive to provide more transparent and trustworthy information.
About Maro
Maro is a global ecosystem for people to connect, cooperate, and prosper. As an open blockchain infrastructure, users can directly connect to the global economy with Maro. Maro’s unique Multi-tier DPoS Consensus and Multi-Network mechanism offers a scalable blockchain with high-throughput and a sustainable token economy. Maro is a place for a true global citizen, come join our worldwide community. For details, visit our website. To receive the latest news on Maro, join our Telegram and follow us on Twitter.
