FRC758s redefining the Circulating and Total Coin Supplies?
If you've been with $FSN for a while, or with crypto in general for that matter, you've probably ran into the question of how much of the coin supply is circulation and how much of it exists in total. Circulating supply is used as a basis to calculate the success of a coin on popular cypto-sites such as https://coinmarketcap.com/ , https://www.coingecko.com/ and https://coinpaprika.com/. Yet what is considered circulating and what isn't is sometimes not so clear. For FSN itself for example https://coinmarketcap.com/ has decided to define it differently than https://www.coingecko.com/ and https://fsnex.com/ (which for $FSN should be considered the most reliable source).
So how can FRC758s change this? Well, for already established coins they can't. They are what they are, but for a coin like $CHNG who will issue itself as a FRC758 it can in a very definate way make this very clear. Why?
The reason is that FRC758s have a changeable supply, but with a maximum minting roof. What does this mean? It means that, for example, the starting circulating supply could be 0, but that there exists a process for which new coins can be minted. This begs the question, "Can't just more and more coins then be minted indefinitely?" The answer is no, because the contract can still define a maximum for how much could be minted, a "minting roof". This method of issuance leaves you with two very clear numbers that can be easily tracked. 1. The current amount of coins minted (circulating supply) and 2. The minting roof (Total supply).
So tokens who choose to use the FRC758 contract will have an edge here in terms of supply transparency that potentially could turn into a crypto-industry standard. $CHNG will be testing it out. Hopefully others will follow.
To see the source code go here. https://github.com/ChaingeFinance/ChaingeToken