3 ms·
> 9.9% percentage of that also was set aside for "founders" > Today it accounts for something like 59% of total supply. Make what you will of that. Can you he
by xur17 4y ago
> 9.9% percentage of that also was set aside for "founders"
> Today it accounts for something like 59% of total supply. Make what you will of that.
Can you help me understand what exactly this means? Ethereum's supply has grown since the presale, so if anything the 9.9% should have gotten smaller since then.
- Anunayj 4y agoOh, I was a bit unclear there. The 9.9% was of the total money that was raised in the ICO (60m) and ended up being ~5.9m. The total initial premine was 72m (~59% of today's supply). I think someone more knowledgeable might provide a better breakdown of those funds, except that the article(s) linked covers it a lot better than my comment.
- gnramires 4y agoSince this "premine" (the 59%) was really a token sale, I don't think it's too problematic (mining is buying tokens with electricity/hardware).
- bhaak 4y agoOP has provided the right links but either misunderstood the text or phrased it very confusingly. https://messari.io/asset/ethereum/profile/launch-and-initial-token-distribution https://messari.io/asset/ethereum/profile/launch-and-initial... Ethereum's crowdsale supply was 72 million ETH. Of that 60 million were sold for BTC in the crowdsale. 6 million was given to the Ethereum Foundation and 6 million to early contributors (overall 20% of what was sold was created as a pre-mine). Now Ethereum's supply is ~122 million, so the miners produced 50 millions new ETH.