Red Pulse has launched a supply verification page, which allows token holders to check on the “distribution and supply calculation of newly minted PHB tokens.”
In April 2019, Red Pulse, a Chinese business and financial market intelligence platform, announced an integration with Binance’s new decentralized exchange (DEX) chain. As part of the integration, the Red Pulse Phoenix (PHX) NEP-5 token on the NEO blockchain now coexists with a Red Pulse Phoenix (PHB) token on the Binance DEX chain.
The supply verification page includes PHX and PHB token statistics, such as the total supply, frozen, and circulating number of tokens.
In its article, Red Pulse noted when PHB was initially minted, the “total supply of PHB was equal to the total supply of PHX.” Further, baked into the Red Pulse protocol is an inflation mechanism, which increases the supply of both the PHB and PHX tokens.
As there is a cost associated with minting PHB tokens on the Binance DEX chain, Red Pulse notes, “the total supply of PHX will often exceed the total supply of PHB.” However, as users convert their PHX to PHB, “the frozen amount of PHX is equal to the circulating supply of PHB.”
The full article can be found at the link below:
https://blog.red-pulse.com/phx-and-phb-supply-verification-page-is-live-707c7bbf70d2
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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