zk-bits
commented
3 months ago Current flags that are relevant to this issues are:
supply: 1000, mint progress: 100%, premine: 1000, premine percentage: 100%, burned: 0
I think a situation where this achieves the intended effect would look like:
supply: 10, mint progress: 100%, premine: 1000, reserve: 990 premine percentage: 100% burned: 0
Where the supply name is kept the same but is used to represent the circulating supply calculated as pre-mine - the sum of all runes held in UTXOs with that address
The pre-mine, is derived from the etching but also has to be equal to the supply(now the circulating supply) + the reserve + burned runes.
The Reserve tokens as I see them, are innert and should not have an effect on the supply, until they have left the etchers wallet.
It's been requested by a few people that it should be possible to mint new runes after a rune is initially etched. This would be, in my opinion, a misfeature. The creator of a rune can easily mint more runes than will be initially distributed up front, hold them in reserve, and transfer them out of reserve as needed. Even though this is simple, and allows a great deal of flexibility in terms of how reserves are handled, namely that they can be held in multiple UTXOs, timelocked, etc, this seems to be unsatisfying.
In order to make this less unsatisfying, I think it would help if the ord explorer displayed the amount of such reserved runes on the
/runepage for the given rune. This should be easy to implement: If a parent inscription exists, get its address, and if the address index is present, get the sum of all runes held in UTXOs with that address, and display those runes as "reserved", and display a "circulating supply" total without those reserved runes.