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: