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$BOOST
Today, a warning ⚠️ from the Binance platform in the audit section for the BOOST token warns of the existence of a minting mechanism.
For those who have started exploring the world of cryptocurrencies, this warning may raise some concerns, so let’s explain things simply:
1️⃣ The minting mechanism is the process of issuing new coins within the total supply of the currency.
2️⃣ Total Supply = all coins that can be issued, whether available currently or not.
3️⃣ Circulating Supply = the coins available in the market that can be bought or sold.
4️⃣ When new coins are issued or previously reserved coins are unlocked, the circulating supply gradually increases, but it does not exceed the total supply.
Thus, the circulating supply of BOOST is 117.80 million coins out of 1 billion coins, which is approximately 11.7%.
The protocol in place allows for an increase of 50,000 coins per year at most.
⚡ Summary:
The Binance warning is just a notification, and there is no need to worry.
An increase in the circulating supply is normal and is subject to the project’s plan.
A good understanding of the total supply and the circulating supply provides a clear view of the impact of the minting mechanism on the price.
✅ Advice for beginners: Keep an eye on your projects and monitor the minting process and the specified plans, and rely on supply and demand analysis as a basis for understanding price movements.
#تداولوا_بحذر
Today, a warning ⚠️ from the Binance platform in the audit section for the BOOST token warns of the existence of a minting mechanism.
For those who have started exploring the world of cryptocurrencies, this warning may raise some concerns, so let’s explain things simply:
1️⃣ The minting mechanism is the process of issuing new coins within the total supply of the currency.
2️⃣ Total Supply = all coins that can be issued, whether available currently or not.
3️⃣ Circulating Supply = the coins available in the market that can be bought or sold.
4️⃣ When new coins are issued or previously reserved coins are unlocked, the circulating supply gradually increases, but it does not exceed the total supply.
Thus, the circulating supply of BOOST is 117.80 million coins out of 1 billion coins, which is approximately 11.7%.
The protocol in place allows for an increase of 50,000 coins per year at most.
⚡ Summary:
The Binance warning is just a notification, and there is no need to worry.
An increase in the circulating supply is normal and is subject to the project’s plan.
A good understanding of the total supply and the circulating supply provides a clear view of the impact of the minting mechanism on the price.
✅ Advice for beginners: Keep an eye on your projects and monitor the minting process and the specified plans, and rely on supply and demand analysis as a basis for understanding price movements.
#تداولوا_بحذر
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.