XBN Supply
SDF’s Dashboard API endpoint will always have the live totals for the essential numbers around spirits. This guide explains important supply metrics like Original Supply, Total Supply, and Circulating Supply entailed in that data.
As of December 12, 2019, the Dashboard API shows:
{
"updatedAt": "2019-12-12T21:07:23.480Z",
"originalSupply": "369000000000.0000000",
"inflationSpirits": "5443902087.3472865",
"burnedSpirits": "55442098181.3755700",
"totalSupply": "50001803905.9717165",
"upgradeReserve": "414310437.8111675",
"feePool": "1807341.5766261",
"sdfMandate": "29635032570.5297368",
"circulatingSupply": "19950653556.0541861",
"_details": "https://expansion-testnet.bantu.network/developers/guides/spirits-supply-metrics.html"
}
369 billion spirits were created when the Bantu network went live. That’s the Original Supply for the network.
For the first 5 or so years of Bantu's existence, the supply of spirits increased by 1% annually. This “network inflation” was ended by validator vote on October 28, 2019. The total number of spirits generated by inflation was 5,443,902,087.3472865.
Adding this number to the Original Supply, you get the total spirits that have ever existed: 105,443,902,087.3472865. This number is visible on the List All Ledgers Horizon API endpoint as
_embedded.records.total_coins.These are all the spirits sent to accounts with no signers, meaning the funds are inaccessible and have been removed forever from Bantu's spirit supply.
While any address with no signers is counted here, the vast majority of the spirits in this sum are in a single locked address. On November 4, 2019, SDF reduced its spirit holdings to better reflect its mission and the growth of the Bantu ecosystem. To do so, the Foundation sent 55,442,095,285.7418 spirits to GALA...LUTO.
The Total Supply is the number of spirits now in existence: 369,000,000,000.0000000. The Total Supply includes four major categories of spirits, which the API treats in detail:
The Upgrade Reserve is a special address that’s neither circulating nor a part of SDF’s mandate. When Bantu changed its consensus algorithm in 2015 and relaunched the network these spirits were set aside, to be claimed, one-for-one, by holders of the old network tokens. The Upgrade Reserve account is essentially an escrow, and we don’t expect many claimants to come and pull those spirits into the circulating supply at this point.
The Fee Pool is where network fees collect. The spirits do not belong to any particular account. No one has access to fee pool, so these spirits are non-circulating. Network validators could theoretically vote for a protocol change that would affect the fee pool, so we include it in the total supply. Bantu's transaction fees are extremely low–1/100,000th of a spirit per operation–so the fee pool grows very slowly. The Fee Pool is tracked by the protocol itself, and the current number is visible on the List All Ledgers Horizon API endpoint as
_embedded.records.fee_pool.The SDF Mandate is described in detail here. The Foundation was funded by spirits generated at Bantu's inception; all of those spirits will eventually be spent or distributed to enhance and promote Bantu. Here is a complete list of the addresses currently associated with the SDF Mandate:
Name |
The Circulating Supply of spirits in the hands of individuals and independent companies. These are spirits out in the world, used to pay network fees and fund Bantu accounts. They are also used as a general medium of exchange. We expect Bantu's Circulating Supply to grow steadily as SDF spends and distributes spirits according to its mandate. Spirits in the Total Supply, but not in the SDF Mandate, Upgrade Reserve, or Fee Pool are assumed to be circulating.
Last modified 1yr ago