Authors

Everipedia Team

Summary

The IQ token’s maximum supply is currently programmatically hard capped on-chain at 100 billion while our circulating supply is fixed at around 10 billion tokens. We propose reducing IQ’s max supply from 100 billion down to 21 billion. Programmatically hard capping the maximum supply of IQ at 21 billion on-chain ensures that IQ holders will not be diluted in the future. That means there will never be more than 21 billion IQ, the same way there will never be more than 21 million Bitcoin.

The 21 billion IQ hardcap will also make it much easier to trade IQ against Bitcoin since IQ will have Bitcoin base units. 1000 IQ will be equivalent to 1 BTC in supply. IQ/BTC pairs have been gaining traction, especially the IQ/BTC pair which was recently announced on Upbit, South Korea’s largest crypto exchange.

Background

The IQ token has had its max supply programmatically hard capped on-chain at 100 billion tokens since inception in 2018. However IQ inflation is minimal and all inflation decisions are voted on by the community keeping the circulating supply of IQ fixed around 10 billion tokens.

Benefits

Permanently hard capping the maximum supply of IQ on-chain at 21 billion makes the IQ token almost 5x more scarce. This ensures that IQ token holders will not be diluted and increases the value and confidence in IQ.

The 21 billion token on-chain maximum supply should also increase value by making it easier for traders to trade IQ against Bitcoin, increasing both demand and liquidity for the token. IQ will have Bitcoin base units, 1000 IQ will be equivalent to 1 BTC in supply. There will never be more than 21 billion IQ the same way there will never be more than 21 million Bitcoin.