According to coinmarketcap.com, the circulating supply of OAX has increased sharply to 69,359,674, which is more than 100% increase from about 30,000,000 right after the recent airdrop.
What is the reason for such a big increase? In what way was the 40 million token distributed? Why no announcement from OAX ?
WITH A SUDDEN LARGE INCREASE IN THE SUPPLY OF OAX, THE PRICE WILL DROP SHARPLY VERY SOON !!!!!
Hi Svitan,
Please accept out apologies for the delay in replying.
This is an update that we've been requesting be made on the CoinMarketCap website for some time now (note that CMC can take upwards of 6 months to update such data,
and has its own specific methods of token supply calculation).
The increase in the market cap is NOT the result of an additional sale.
If you refer to the white paper, you'll see that we have tranches of coins which are locked for different periods (1 year and 2 years).
The updated figures reflect the airdrop and the fact that various portions of coins have now been unlocked as per the white paper and CMC's own approach to token supply calculation.
Here's an overview of how the number of tokens is made up of:
25M (first sale)
+
5M (airdrop)
+
14M (advisor coins unlocked after 1st yr, June 2018)
+
30M (additional token sale which never happened but are unlocked and in the Foundation Treasury)
gives us 74M total but CMC has their own way of calculating and came up with the 69M you see now.
The outstanding 26M (according to our calculations, not CMC's) will be unlocked this coming June 22, 2019.
Thank you for supporting OAX!