What is the circulation of BitDAO coin?

The current circulating supply of BitDAO coins (BIT) is approximately 2.5 billion, influenced by factors like token distribution, treasury operations, project adoption, and market conditions.

Nov 14, 2024 at 11:40 pm

What is the Circulation of BitDAO Coin?

BitDAO is a decentralized autonomous organization (DAO) that governs the BitDAO Treasury, a $2 billion treasury that funds projects building on the BitDAO ecosystem. The BitDAO token (BIT) is the native token of the BitDAO ecosystem and grants holders governance rights and access to the BitDAO Treasury.

Circulation of BitDAO Coin

The total supply of BitDAO coins is 10 billion, with a current circulating supply of approximately 2.5 billion. The remaining 7.5 billion tokens are held in reserve by the BitDAO Treasury and will be gradually released over time to fund projects and initiatives that support the BitDAO ecosystem.

Factors Affecting BitDAO Coin Circulation

The circulation of BitDAO coins is influenced by various factors, including:

• Token distribution: BitDAO coins are distributed through various channels, including liquidity mining, staking rewards, and project grants.
• Treasury operations: The BitDAO Treasury can mint new tokens to fund projects or buy back existing tokens to reduce circulation.
• Project adoption: The adoption of projects within the BitDAO ecosystem increases the demand for BIT tokens, as they are used for governance and access to the treasury.
• Market conditions: External market conditions, such as price fluctuations and overall market sentiment, can also impact the circulation of BitDAO coins.

Steps to Determine BitDAO Coin Circulation

The following steps outline the process for determining the circulation of BitDAO coins:

1. Obtain Total Supply: The total supply of BitDAO coins is fixed at 10 billion. This information can be obtained from official BitDAO documentation or reputable cryptocurrency exchanges.
2. Subtract Burned Tokens: If any BitDAO tokens have been burned, their quantity should be subtracted from the total supply to determine the current supply. Burned tokens are permanently removed from circulation and reduce the total supply.
3. Include Staked Tokens: Staked BitDAO coins are not technically in circulation, as they are locked up for a specific period. However, they still contribute to the overall supply and should be included in the calculation.
4. Consider Vesting Schedules: A portion of the BitDAO token supply may be subject to vesting schedules, where tokens are gradually released over time. These tokens should be accounted for in the circulation calculation when they become transferable.
5. Estimate Lost Tokens: Some BitDAO coins may be lost due to forgotten keys, hardware failures, or other reasons. While it is difficult to accurately estimate the number of lost tokens, it is prudent to consider this factor when determining the actual circulation.
6. Calculate Circulation: Once all the aforementioned factors have been taken into account, the remaining token supply represents the circulating supply. This value can fluctuate over time due to ongoing token distribution, treasury operations, and market dynamics.