Circulating Supply: By the numbers

Circulating Supply: By the numbers

We’re thrilled to see that the staking model implemented in the early stages of the Opera network has successfully bootstrapped the network’s security rapidly, with over 53% of all FTM staked at the time of writing. It may be helpful to outline how the upcoming rewards unlock will change key facts and figures related to the FTM supply, along with calculations to follow.

On 24th June 2020, the circulating supply of FTM will increase in line with the staking rewards accrued since the Opera mainnet launch, which will be unlocked without penalties.

As per the initial rewards schedule laid out in the mainnet launch article, 16.48 FTM has been accrued across the network per second since launch.

Opera went live on 24th December 2019; 183 days will have passed between this date and when rewards are unlocked.

16.48 FTM * 60 seconds * 60 minutes * 24 hours * 183 days = ‭260,568,576‬ FTM in rewards to be unlocked, made available, and added to the circulating supply.

‭This represents a 12.2% increase in circulating supply (260,568,576‬/2,132,239,132 = 12.2%)

The new circulating supply will be 2,392,807,708 FTM, which leaves 782,192,292‬ FTM in the unminted staking rewards pool.

3,175,000,000 is still the hard-capped maximum supply of FTM across the public mainnets, and always will be. The supply of FTM across public mainnets cannot increase beyond this figure; once the remaining 782,192,292‬ FTM has been minted and distributed, no further inflation can occur.

The proposed fluid staking model would reduce the rewards schedule to 6.18 FTM per second without significantly reducing real returns after inflation for the most committed stakers (12-month lock), which translates to over 4 years of rewards in the unminted pool before reaching the maximum supply.