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ordinals / ord

👁‍🗨 Rare and exotic sats
https://ordinals.com
Creative Commons Zero v1.0 Universal
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Premine percentage formula should use the total supply #3630

Closed habacrypto68 closed 6 months ago

habacrypto68 commented 7 months ago

Correct me if I am wrong, but this premine percentage formula that is being used in the portal is wrong: ((self.entry.premine as f64 / self.entry.supply() as f64) * 10000.0) as u128

The self.entry.supply() is actually calculating the circulating supply (premine + minted) instead of the total supply (premine + (cap * amount per mint))

kusan-thana commented 7 months ago

Yes, I guess a lot of people don't mint because they see premint at 100%.

I think the best would be to have both. Have the premine percentage with the current supply and the percentage with the fully diluted one.

GiantDole commented 7 months ago

Not sure about this... This would allow the attack vector of having a considerable cap but low duration to trick people. Maybe having both percentages would be helpful for full transparency: "Fully diluted percentage" and "Current percentage"

cryptoni9n commented 7 months ago

edit: thinking about this more, I think the premine percentage formula should be PREMINE/MAX_SUPPLY. Additionally, I think the supply should be presented visually on the page as CURRENT_SUPPLY/MAX_SUPPLY or even "CURRENT_SUPPLY out of MAX_SUPPLY"

raphjaph commented 7 months ago

Yes, we should add more clarification to that

HubertusVIE commented 6 months ago

Yes, we should add more clarification to that

This is also related to #3677, as current total supply is what matters most, whereas the governance determined max total supply is more of an information item.

Consider that the max supply may be limited, like in Bitcredit Protocol or unlimited like in the RWA use cases mentioned by other supporters of #3677. This means that the second CURRENT/MAX percentage mentioned by @GiantDole and @cryptoni9n may be undetermined.

Also: Considering the BISQ scheme which we are emulating, the minting itself would be limited to the signature with governance rights.