Circulating Supply
2,577,480 OTN
Iqoption i see 1,312,540
token distribution from Iq it's 1,312,540 OTN in marketcap see 2,577,480 OTN this 1,264,940 come from??? OTN foundation?
Supposing the price go down because last day put in market over 1 million token from where??? then sell and price go down,that's true?
more token price get down......now my answer this 1,264,940 token coming from where?
just for know about transparency because I not see any news about new token entry from where
2,577,480 OTN
Iqoption i see 1,312,540
token distribution from Iq it's 1,312,540 OTN in marketcap see 2,577,480 OTN this 1,264,940 come from??? OTN foundation?
Supposing the price go down because last day put in market over 1 million token from where??? then sell and price go down,that's true?
more token price get down......now my answer this 1,264,940 token coming from where?
just for know about transparency because I not see any news about new token entry from where
That is a good question.
CoinMarketCap is an independent company having their own vision on how to define the circulation supply of any token. In OTN’s case their formula does not do justice and below we clarify it. According to the Whitepaper and the section discussing token distribution we highlight the following:
- 28,000,000 OTN tokens were given to IQ Option’s team and shareholders. These tokens are NOT blocked and at any time can be on the exchanges and market.
- Additional 51,000,000 OTN tokens are available only for planned purposes – 30 mil. tokens are owned by The Open Trading Network Foundation, 16 mil. tokens will be distributed every quarter (2 years period) as a bonus to token holders, 5 mil. tokens are reserved to OTN.Wallet users to motivate them.[/size]
https://i.imgur.com/xbUeFnE.png
Therefore, we believe the correct number of the circulation supply amounts to 51,000,000 OTN tokens in total.
Capitalization should be calculated as follows CAP = (TOTAL SUPPLY – 51,000,000) * Token Price
At the moment CAP = (81,038,759 – 51,000,000) * $20.2 = $606,782,932
We believe that this circulation supply calculation provides a more accurate representation to traders and investors concerned about the total number of circulating tokens and risks associated with it.
The problem I have with this is the 28 000 0000 token allocated to the IQ-Option team and Shareholders is the following:
Someone added 1 200 000 token into the market during the course of this week. I am not saying that it was the team and shareholders of IQ-Option, but let suppose for the sake of my below statement that it was them.
That would mean that they would get $43 million to share between them based on the dolor market price of OTN on the 19th November. This would be a reason why the price had dropped so dramatically since the 19th of November (because 1 200 000 tokens was added to the market).
We the poor community trying to support the token and get the market value up with pure trading will never succeed, because if the above statement of mine is true then it also means that as soon as we get the market value up by only few dollars then the IQ-Options team and shareholders can dump tokens again into the market, (for example another 1 million tokens, they will be able to do this 28 times, because they own 28 million tokens) and again they will take about roughly about $43 million profit to share between them (and again the price of token will drop).
I have lost about 80% of my OTN investment value since the 19th November till today. We as the community trying to support this token are fighting a losing battle. If I had known about this 28 million tokens allocated to IQ-Options then I would never have invested in this, but I can not blame anyone because I should have done more thorough investigation before investing. This token is only going one way in the future, and that is down.
