There has been a question about how many tokens are in the circulating supply since the SOL token's launch on Binance.
28 Apr 2020, 01:25
There has been a question about how many tokens are in the circulating supply since the SOL token’s launch on Binance. Here are the facts:
◎8,258,353.64 have been distributed through the CoinList auction and the Binance airdrops
◎11,360,000 are on loan (from the Foundation) to a market maker for liquidity provisioning
- Market makers are standard for any listed project for meeting liquidity requirements
- Nothing has changed since the CoinList auction and Binance listing. The Foundation has not released or sold any additional tokens into the market.
These tokens are NOT from the Solana team.
- The team’s and investors’ tokens are all 100% locked up.
- Neither the Solana team nor Solana Foundation profit from the sale of these tokens.
- As of April 27, the Foundation does not have any plans to introduce more tokens to the market. Any plans to do so will be disclosed publicly beforehand.
- There will not be any additional tokens allocated for market making without public disclosure.
The Solana team’s understanding of circulating supply, as advised by exchanges and research analysts, is that market making tokens are typically not used when calculating “circulating supply”. With this in mind, we have not been quoting the 11.36m tokens allocated to our market maker when answering questions about circulating supply. However, given recent feedback, we will always include the fact that 11.36m tokens are out on loan for market making when discussing circulating supply. These tokens are unlocked and not under Foundation control while on loan to the market maker, but it is important to note that no employee or officer of Solana Labs or the Solana Foundation profit from the sale of these tokens.
For further questions, please message us on our Telegram chat.
Raj Gokal, COO