Last Friday, ICON made important updates to its circulating supply calculation in an effort to increase transparency. This confirms that the team has been hodling their ICX responsibly, not dumping as certain (unnamed) skeptics had claimed. The circulating supply tracker has now been changed to reflect the omission of ‘Internally Controlled Addresses’ (ICA), which is a wallet fully controlled by the ICON team. In other words, tokens held in an ICA are not considered part of the Circulating Supply.
This now means:
- Circulating Supply = Total ICX Supply – ICA Amount
- Circulating Supply = 800,460,000 – 310,188,606 = 490,271,394
Based on this calculation, there was an increase of about 16.7 million ICX in Circulating Supply. Of this amount, approximately 14 million ICX belongs to ICON partners, including an investment fund that is being invested in the growth of the ecosystem, and 2.7 million ICX is being given to advisors and team members on a vesting schedule.
“We would like to emphasize that the ICON team still indirectly controls the majority of this ICX, as much of it may be returned to an ICA at a later date,” states the Medium post.
For full details on the amounts reserved for the DEX and distributed to the foundation, ICON team members and strategic advisors, refer to ICON’s original announcement.