BUMP Token Circulating Supply Methodology Update

Bumper is formally updating the circulating supply methodology for the BUMP token.

The updated figure will be pushed to aggregator sites and used in any related token supply calculations moving forward.

‍It is important to note that these tokens have already been freely circulating and there are no net new tokens or other net new activities contributing to increased supply.

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Updated Methodology

Circulating versus total supply is one of the most important ratios for making economic decisions about any cryptocurrency. 

Until now, aggregator sites have displayed an outdated methodology of circulating supply for BUMP. This is because circulating supply was previously reported based on an understanding that the tokens were only circulating if they had no constraints to their free trade. This meant that vested, but unclaimed tokens, weren’t part of circulating, nor were tokens staked in the protocol. 

To address this and better align with the industry's circulating reporting practices, we are formally updating the circulating supply methodology. The revised circulating supply is circa 178,172,451 representing approximately 71.27% of the total supply.

Going forward the circulating supply will look at two contracts for  calculation:
‍Circulating Supply = Total Supply - Unvested Tokens - Protocol Usage

For comparison, the equation previously used was:
Total Supply - tokens in vesting contract - tokens in staking contract - tokens in protocol usage.

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What is classified as Circulating BUMP?

BUMP tokens are considered in circulation when they meet both of the following criteria. 

• The parent smart contract has minted the token - ie. they exist in an account on-chain.
• The token has been made available to the public and is not constrained from free transfer within the market - eg. tokens held in a private wallet, fully vested tokens but unclaimed, and tokens which have been staked by private holders.

Combined, these two factors qualify a token as ‘in circulation’, regardless of the party that holds them. BUMP tokens in circulation are, from a technical perspective, free to be used in any economic transaction without constraints.

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What tokens are not in circulation?

The only tokens now that do not form part of the circulating supply are those held by the Protocol Usage contract which are currently not available to the public.

As Bumper moves towards a DAO management we will re-address how protocol usage tokens are used outside of protocol incentivisation.

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BUMP Supply

As of April 3rd 2024, approximately 178,172,451 freely circulate. It is important to note that these tokens have already been freely circulating and there are no net new tokens or other activities occurring.

You can see the current circulating supply on our Dune Dashboard. This update has been pushed to other platforms such as Coingecko and CoinMarketCap but they may take time to reflect the change.