SLURP 35 | Changing the calculation method for circulating supply

Abstract:

There were some discussions around this topic in Q4 2024. With more and more attention being drawn to LINK staking in general and SDL specifically in 2025 this Temp-Check is on the proposal to change the way the SDL circulating supply is being calculated. A change will affect how other entities see the protocol and decide on whether and how they are willing to interact with it. As we are entering a growth phase the perception to external organizations (Institutions, Custodian, CEXs, Wallets, etc.) is becoming more and more important for the protocols success.

To get a more accurate picture on the a) level of decentralization and reflect the b) maturity stage of the protocol and the token representing it, I believe it is beneficial to also include SDL tokens in the circulating supply that were locked by users. These SDL tokens have a lock period and are therefore restricted to use within a specific timeframe (i.e., no trading, no lending, etc.) but nonetheless they are part of the circulating supply and have been locked by a users decisions only (individual decision; not a protocol decision). The circulating supply should not include tokens that are obviously pre-circulating such as vesting (protocol decision).

I therefore ask the community for a Temp-Check on the following:

Changing the Circulating Supply calculation the following logic: Total Supply - Treasury - NOP Vesting - Core Contributor Vesting = Circulating Supply An estimation of this figure is 58.5M SDL Tokens vs. roughly 16M SDL Tokens displayed on CoinGecko currently. This will lead to changing ranks from #1727 to roughly #1000 and increasingly larger rank jumps in the future providing visibility It also gives a more accurate picture on the development of SDL and reSDL dilution which is much smaller than what the current circulating supply is indicating