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Circulating Supply

    Circulating supply is the supply that is currently in the hands of the general public. In the case of fairly mined proof-of-work systems (eg. bitcoin), the total supply is approximately equivalent to the circulating supply, as there are no token generation events that put large amounts of tokens in the hands of a select few. On the contrary, an initial coin offering (ICO) which have token generation events typically has a lower circulating supply vs. the total supply, such that: Circulating supply = Total Supply minus Team tokens minus Foundation tokens minus Locked tokens.

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