Transparency is one of the core foundations of the DMD Diamond blockchain. Whether you are validating, doing delegated staking, or just monitoring the DMD Diamond network, you can track the exact status of our blockchain coin supply through three key smart contract addresses on the Block Explorer and the public API. This article aims to guide you through understanding where DMDv4 coins sit on the new DMDv4 chain.
Below is the breakdown of the three smart contract addresses, explaining who owns them and how they influence the circulating supply of DMDv4 coins.
The Claiming Contract
Explorer: https://explorer.bit.diamonds/address/0xf3bf614C0EA1D14D998BcDb49Ad1F8f57332Bb42
API Track: https://data.bit.diamonds/supply/claiming
The claiming contract holds all unclaimed DMDv4 coins from the old DMDv3 chain balances, based on the snapshot (DMDv3 coin snapshot balances from the old chain are claimable at a 1:1 ratio on the new DMDv4 chain). The exact snapshot balances can be seen here: https://github.com/DMDcoin/whitepaper/wiki/T.-Mainnet-Snapshot.
Claiming contract is not upgradeable and has no owner. The DAO can’t access it. It is only by a hard fork that anything can change, which is the ultimate level of protection.
The coins in the claiming contract are considered part of the circulating supply. Because, even though they are currently sitting in the claiming contract, a user can initiate a claim at any time, and it instantly moves the coin to the user’s destination address.
The Rewards Contract
Explorer: https://explorer.bit.diamonds/address/0x2000000000000000000000000000000000000001
API Track: https://data.bit.diamonds/supply/rewards
The reward contract address holds the DMDv4 coins reserved for validator rewards. It represents the difference between the maximum supply (4,380,000 DMD) and the current circulating coins in circulation. They are not part of coins in circulation. However, they only enter circulation when they are paid out to validators.
Coins from the Delta and Reinsert pots are also used as part of validator rewards. The on-chain DAO of all validators owns the reward contract. The development team has no access!
The Staking Contract
Explorer: https://explorer.bit.diamonds/address/0x1100000000000000000000000000000000000001
API Track: https://data.bit.diamonds/supply/staking
The staking contract holds all coins currently staked by validator nodes and the delegators who stake on top of them. These coins are also part of the circulating supply because delegators and validators can unstake and withdraw their coins at any time. That is possible because their coins are not locked on the staking contract.
It is also owned by the on-chain DAO, with no access to the development team!
Additional API Endpoints for Tracking
The following API endpoints offer access to real-time call-able values, in case you want raw data for tracking the DMDv4 network status:
Maximum Coins: https://data.bit.diamonds/supply/maxcoins
- It returns the total maximum coin supply (Total Coins).
Circulating supply: https://data.bit.diamonds/supply/circulating
- Calculated as Max Coins minus Rewards.
Delta Pot Coins: https://data.bit.diamonds/supply/delta
- It shows the difference in Total Coins on the old chain versus Maximum Coins.
Reinsert Pot Coins: https://data.bit.diamonds/supply/reinsert
- It tracks additional reward sources on the new DMDv4 chain, such as transaction fees and DAO proposal fees.
DAO Fund: https://data.bit.diamonds/supply/dao
- It funds where the DAO has direct access to support proposals.
Through these addresses and endpoints, anyone can verify the supply metrics and coin distribution of DMDv4 without relying on third-party data aggregators.
Have you joined our communities yet? We look forward to seeing you on Discord or Telegram!
