We recognize that there’s been a significant amount of confusion around our tokenomics and the reported circulating supply of TET. The primary reason for this confusion stems from our unique layer 1 tri-bridge between T12 (our native Tectum blockchain network), ERC20, and BEP20.
Initially, when we launched on Uniswap and CEXs, we utilized the ERC20 wrapped version of our token, thus deciding to report our circulating supply based only on tokens migrated from T12 to ERC20.
However, a segment of our community correctly pointed out that the reported circulating supply should mirror those tokens released on our native network. We fully agree. As a result, we’ll transition our reported circulating supply to the T12 standard, leading to a significant shift in the next few days.
T12 Released Tokens:
While we’re making this adjustment, please be aware there will still be a difference between our reported circulating supply on T12 and the tokenomics circulating supply. As many of you know, our pre-sale vested tokens were made available on the native network for utilities like minting and merchant fees but are locked for conversion to ERC20.
These tokens will account for the disparity between ‘tokenomics for erc20 conversion circulating supply’ and ‘T12 circulating supply’. Nevertheless, we’ll be basing our reports on the T12 circulating supply.
Tokenomics:
To to see our tokenomics as they relate to erc20 conversion schedule, please refer to: https://loom.ly/fhyrNAU
Read about our API: API
Transparent Live Feeds:
We have also created transparent live feeds to help you make sense of, and track our T12 tokenomics. Our circulating supply will be derived by subtracting all locked or vested Tectum accounts from the total supply of tokens (10M).
In our commitment to transparency:
🔹 We’ve designed the ‘Metrics page’ for live data on all Softnote blockchain activities: Dashboard
🔹 ‘Tokenomic Accounts Page’ provides a live feed of all locked and vested T12 TET accounts the circulating supply is calculated from: https://loom.ly/ti4gdtE
🔹 ‘Team Accounts Page’ details all team activities, especially concerning team expenditures: https://loom.ly/sHvEQYw
Conclusion:
We understand the complexities of these tokenomics and understand the associated confusion. We wholeheartedly welcome any questions or clarifications.
Please don’t hesitate to raise them here or on our Telegram group.
Thank you for your patience and continued support
