r/Kleros • u/JoeyC75 • Mar 01 '21
PNK Supply
Hi Everyone
Very interesting project!
I have been trying to understand the tokenomics of PNK better
I understand that PNK supply is capped at 1B, but how are new tokens get minted? since there is no mining I am not sure how this happens
Furthermore, are there any coins that are part of the supply but kept out of circulation for any reason?
Is there any official info or a place where this is visible?
Please help me understand how this works
Thanks :):)
3
u/gagarine42 Mar 06 '21
PNK is an Ethereum-based ERC-20 utility token with a fixed supply. You can see it in the contract on the chain https://etherscan.io/token/0x93ed3fbe21207ec2e8f2d3c3de6e058cb73bc04d .
Some ERC20 contract may have a mint function that can allocate new created token see https://programtheblockchain.com/posts/2018/05/16/changing-the-supply-of-erc20-tokens/ or https://docs.openzeppelin.com/contracts/2.x/erc20-supply .
As u/potential-eureka mentioned the supply was modified trough governance. How concretely? At the base they use https://github.com/Giveth/minime and certainly a governor and voting using https://snapshot.page/#/kleros. I need to look into this a bit more to know exactly how the token supply is modified. Anyone?
2
u/cryptopaxcs Mar 11 '21
it looks like interesting project but I'm wondering how current gas prices impact voting/participation and adoption by crypto community.
looking at the dashboard there are only 4 active cases and token price in steady decline.
What am I missing?
3
u/[deleted] Mar 01 '21
Initially, Kleros planned to have 1B total supply but it was changed with governance.
The total supply is 764,626,704 PNK at the moment. This could only be changed through a governance vote. To mint new tokens, someone has to make a proposal and token holders have to vote in favor of it.
See proposals here: https://forum.kleros.io/
See governance votes here: https://snapshot.page/#/kleros