Community Vote on DAM Circulating Supply Metrics
💡 AI Article Summary
Redefining DAM Token Circulating Supply
A community discussion has emerged regarding how CoinGecko and CoinMarketCap calculate the circulating supply of DAM. Currently, DAM tokens locked within the FLUX minting contract are classified as non-circulating. This classification alters the displayed market capitalization, potentially giving prospective participants a misleading impression of the asset's true valuation and market depth.
The core argument is that locked DAM tokens remain active components of the ecosystem's minting architecture. Thus, classifying them as non-circulating underrepresents the active economic footprint of the foundation token.
Gas-Free Snapshot Voting
To resolve this, the community is initiating its first Snapshot vote using FLUX. This vote will determine whether to request that tracking platforms update the circulating supply of DAM to its full, capped supply of 16,876,779 tokens.
The proposal is hosted on Snapshot, allowing FLUX holders to participate in a gas-free voting process. This initiative represents an important milestone in decentralized coordination, giving token holders a direct say in how the ecosystem's metrics are represented globally.
Hey
You might notice that we had a small but productive conversation regarding our DAM token circulating supply on coingecko and coinmarketcap from here
https://discord.com/channels/706629360026910741/718247957131952238/799248383650562048
There are good arguments for both sides although I personally believe there is no reason why DAM locked in FLUX contract should be marked as "non-circulating" and their marketcap formula clearly makes new investors think that DAM is cheaper than it actually is
We at Datamine Marketing DAO decided that if we would contact those sites to change our supply to full supply, we first should listen to everyone in community
So we decided to give a first try to snapshot voting via FLUX and we would like to hear your opinion on the question:
"Do you think we should contact coingecko and coinmarketcap and make them change DAM circulating supply to full supply of 16.876.778 tokens? (delete tokens in FLUX contract from non-circulating supply)"
Voting is gas-free and will start in 3 and a half hours
https://snapshot.page/#/damflux.eth/proposal/QmUcJ53WfGX5iDZwxVG7ZdCVm6zHE3cxgAAKBRfhJYPfux
Frequently Asked Questions
Why is the classification of DAM circulating supply being debated?
Currently, tracking sites like CoinGecko and CoinMarketCap exclude DAM tokens locked in the FLUX contract from the circulating supply. This lowers the calculated market capitalization, which may cause prospective users to misjudge the token's actual market valuation.
What is the proposed change for DAM token tracking?
The community is voting on whether to request that tracking platforms display the full capped supply of 16,876,779 DAM tokens as the circulating supply, removing the non-circulating designation for locked tokens.
How does the voting process work?
The vote is conducted via Snapshot using FLUX tokens. It is entirely gas-free, allowing all community members to cast their votes without incurring transaction fees.
· panconpalta · #community-announcements