NeuroChain Token Metrics Update
Transparency has been one founding principle since the inception of the NeuroChain project. As the market and the general crypto economy environment is still experiencing a Bear market, it is extremely important to deliver a very clear message to anyone considering investing in NeuroChain. The below table and the chart provide an accurate view of the situation as of today (Nov 7th, 2018) and shows how the tokens will be allocated until 2023 when the final release of the Main Net (V4) will be delivered. All the points below are strictly compliant with the original messages delivered during the ICO.
Many questions have been raised about the exact split and the Circulating Supply. This number is not always accurate on CoinGecko and Coinmarketcap or other sites. We feel we owe the community a very precise calculation. In the meantime, all efforts are made, almost daily to have these numbers updated on these sites and we hope to have this resolved very soon.
The above calculations are accurate as of today, Nov 7th, 2018. The numbers will move since tokens will change hands according to the project. For example, the Foundation’s tokens will be credited linearly, the Elected bots’ tokens will be used to reward the first Main Net transactions, the incentive for the NeuroChain team is liberated from the Main Net, yearly over five years etc.
The overall spirit of the team is to hold most of their tokens, in the long run, to benefit from the numerous improvements planned in the roadmap.
One of the major issues is the calculation method of each site varies. For example, for CoinMarket cap, “Circulating Supply is the best approximation of the number of coins that are circulating in the market and in the general public’s hands.
Total Supply is the total amount of coins in existence right now (minus any coins that have been verifiably burned).
Max Supply the best approximation of the maximum amount of coins that will ever exist in the lifetime of the cryptocurrency”
As a result, they do not consider tokens that are held by the team, privately allocated to big investors or put away for future use (marketing, bounty programs, ecosystem development etc). This is regardless of whether the tokens are “unlocked”, able to be traded, or will be distributed in the future.
In our case, according to this calculation, our circulating supply would come out to approx. 171,930,028 NCC.
Questions are often asked about the economic model of NeuroChain. As most open source projects like Linux or more recently discussed RedHat, these projects get compensated through support and consulting delivered to organizations willing to develop applications on their protocols. NeuroChain is no different. Before these deals are signed the Pre-Main net Reserve can be engaged to fund marketing or specific operations. After the Main net is delivered, a Post Main net Reserve of Tokens can be used to fund the expansion of the company.
These transactions will be completed only if the market conditions allow these operations. Price and liquidity will be carefully considered when such decisions are taken. It would counter the NeuroChain interests to sell too many tokens at one time and lower the overall market capitalization.
We hope this piece of information clarifies all points raised. We will continue to communicate with all sites relaying information about the token metrics to ensure their records are updated. This document is the reference to consider for any investor.
Guillaume BAILLY - NeuroChain’s Chief Financial Officer