BAT shows
Transfers 889553
Holders 115852
When it's supposed to have 6-7 million users.
When you install the Dent app and set up your account by registering your phone number you get a certain amount of Dent. And the number of application downloads must be real as it's recorded as 1 million plus in a number of countries on play store. If we assume that just say 50% of those people who downloaded Dent go on to actually open the app and register with their mobile number then you are definitely going to have over a few million holders - because you get free Dent so it's going to be the in the holder list. As the number of holders is only 25k this suggests the rule of 1 holder = 1 user is wrong. A holder is a unique wallet address right? That means the app can't be a wallet. When you register your phone number that account falls under an umbrella wallet - just like exchanges use. So one of the holders could contain a million plus users. Am I wrong on any of this logic?