Market Update | CTC Supply Info

Due to recent confusion surrounding the supply and issuance of tokens in the CTC ecosystem, this market update is designed to provide detailed information regarding CTC supply and help users transact with confidence.

This market update aims to clarify the functions and supply dynamics of Creditcoin's token ecosystem, CTC (ERC-20 | G-CRE) and CTC (Mainnet) respectively, in addition to providing a timeline of any token supply changes.

Key Summary

• Creditcoin has two tokens.
  • CTC (ERC-20 | G-CRE): Vesting and trading token. Tradable on CEXs.
    • 600M max tradable supply. Unchanged from initial Whitepaper.
  • CTC (mainnet): Utility token. Not tradable on CEXs.
    • Does not affect tradable supply on CEXs.
• Having two tokens can affect how the maximum supply is calculated. Previously, Max Supply was calculated using both tokens. This did not accurately reflect the actual maximum tradable supply. Therefore, Max Supply is now calculated using tradable CTC tokens only.
  • Max Supply: 600,000,000 = CTC (ERC-20 | G-CRE) only.
    • Total Supply: 549,916,157 (unvested tokens included, burned tokens excluded)

As a reminder, only CTC (ERC-20 | G-CRE), is currently listed on CEXs. Its supply is capped at 600,000,000, with additional minting/contract changes impossible.

Currently, CTC (mainnet) is not listed on centralized exchanges. Since launch, all other mainnet tokenomics changes have resulted in a net-decrease in token issuance. For more information on each token, read below.

Token Comparison Chart

For more detailed information on each token, read on.

CTC Token Summary

In this section, we provide a summary of the major tokens within the Creditcoin Ecosystem, outlining their characteristics, max supply, current supply, issuance method and any other key information you may need.

CTC (ERC-20 | G-CRE)

• Characteristics: CTC (ERC-20 | G-CRE) is a trading and vesting token, listed on centralized exchanges. The official contract ticker is G-CRE.
• Max Supply: 600,000,000
• Total Supply: 549,916,157 (unvested tokens included, burned tokens excluded)
  • August 2023: Creditcoin Foundation swaps 50M CTC (ERC-20 | G-CRE) to CTC (mainnet)
• Circulation Supply: 310,712,767
• Issuance: Token vesting. No additional minting possible. Minting contract is permanently disabled. Max supply can only decrease. See bottom for vesting information.*
• Swap Structure: Can be one-way swapped for CTC (Mainnet).
  • CTC (ERC-20 | G-CRE) → CTC (Mainnet).
    • One-way swap only
    • 1:1 swap ratio
• Explorer Link: https://etherscan.io/token/0xa3ee21c306a700e682abcdfe9baa6a08f3820419#tokenAnalytics

CTC (Mainnet)

• Characteristics: Utility token used for network transaction fees, staking rewards, and future Creditcoin 3.0 functionalities. Network transaction fees are burned.  Currently, CTC (mainnet) cannot be directly traded on any CEX or DEX.
• Max Supply: Uncapped (As of August 2023, see timeline for details)
  • Previous Max Supply: 2B = 1.4B CTC (mainnet) + 600M CTC (ERC-20 | G-CRE)
• Current supply: 156.778M
• Issuance: Mainnet staking reward. Swaps from CTC (ERC-20 | G-CRE). No additional minting possible. Transaction Fee burning.
  • Estimated annual issuance: 4.2M
    • Block reward = 2 CTC
    • Block time = 15s
  • 100% of transaction fees burned.
• Explorer Link: https://creditcoin.subscan.io/

What is wCTC (ERC-20)?

wCTC is an ERC-20 wrapped CTC (mainnet) token used to access trading on Uniswap. wCTC was created to help incentivize NPoS participation and security. The foundation is supplying limited liquidity to the wCTC/G-CRE pool (50,000 CTC) and plans to support an wCTC/ETH pool too. More information on wCTC: https://creditcoin.org/blog/wctc-governance-proposal/

How does wCTC affect CTC supply?

Swapping CTC (mainnet) → wCTC does not involve token burning. Therefore, overall CTC supply is unchanged. CTC (mainnet) is simply locked until users swap back.

This means, wCTC does not affect the circulating, total or max supply of CTC (ERC-20 | G-CRE) and CTC (mainnet) in any way.

Explorer Link: https://etherscan.io/token/0xAAfec8e08d524D534327fa13fB306F440B5F88EB#tokenAnalytics

Tokenomics Timeline

This section provides an overview of all tokenomics changes and updates since the release of the initial Creditcoin Whitepaper.

CTC (ERC-20 | G-CRE)

Unchanged since first official Whitepaper. Summary:

• Max Supply: 600,000,000
• Vesting Schedule: See bottom for vesting information.*

CTC (Mainnet)

January 2020 | v1.1 hard fork

Reduced PoW mining rewards to increase sustainability of the network.

Official link: https://creditcoin.org/blog/creditcoin-1-1-hard-fork/

Summary of changes:

• Block Reward: 222 CTC → 28 CTC

February 2023 | Creditcoin 2.0

Migrated from Hyperledger Sawtooth to Substrate for improved scalability, development resources, and network reliability.

Official link: https://medium.com/creditcoin-foundation/creditcoin-2-0-d9bbca02991a

Summary of changes:

• Architecture: Hyperledger Sawtooth -> Substrate
• Tokenomics: No token burning → 100% transaction fee burning.

September 2023 | Creditcoin 2.0+

Upgraded to NPoS consensus for improved decentralization, security and accessibility.

Official link: https://creditcoin.org/blog/2-0-explained-proof-of-stake-tokenomics/

Summary of changes:

• Consensus: Upgraded to NPoS.
• Block Time: 60s → 15s
• Block Reward: 28 → 2
• Max Supply: 2,000,000,000 → Uncapped

Additional info: While the supply is now uncapped, the effective issuance schedule was reduced by 71.4%. With the new issuance schedule, it will take 300+ years to reach previous max supply. See graph below.

Additionally, the Creditcoin Foundation swapped 50M CTC (ERC-20 | G-CRE) for 50M CTC (mainnet), reducing CTC (ERC-20 | G-CRE) total supply by 50M.

CTC (ERC-20 | G-CRE) Vesting Information

See Whitepaper p. 25 for detailed information. Summary:

Investors (Genesis allocation; 6-month to 3-year linear vesting) – 200M CTC, For funding network development, business development, partnerships, and support. Any unsold tokens were remitted to the Creditcoin Foundation with a vesting period of 6 years.

Gluwa, Inc. (Genesis allocation; 6-year linear vesting) – 300M CTC, For R&D, deployment, business development, marketing, distribution, and administration costs.

Creditcoin Foundation (Genesis allocation; 6-year linear vesting) – 100M CTC, For long-term network governance, partner support, academic grants, public works, and community building

About Creditcoin

Creditcoin is a foundational L1 blockchain designed to match and record credit transactions, creating a public ledger of credit history and loan performance and paving the way for a new generation of interoperable cross-chain credit markets.

By working with technology partners, fintech lenders such as Aella, and other financial institutions across global emerging markets, Creditcoin is securing capital financing, building credit history and facilitating trust for millions of underserved financial customers and businesses based on the principles of Real World Assets (RWAs).

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