IoTeX Official Group

12 Dec 2024 01:52

Don’t developers know? I want to study about 3 billion.

IoTeX Official Group

12 Dec 2024 01:48

So, out of the total supply of 10 billion, can 3 billion be considered burned?

IoTeX Official Group

12 Dec 2024 01:46

Each of the 3 billion will have its own purpose, but if about 200 million are used as a bridge reserve fund, I wonder what the 2.8 billion will be used for.

IoTeX Official Group

12 Dec 2024 01:42

I also understand the process. So shouldn’t the 3 billion iotx exist on a different chain? Are you saying that 200 million erc20 iotx, ciotx, etc. total 3 billion?

IoTeX Official Group

12 Dec 2024 01:40

Afaik, as per my limited knowledge. It's stuck there.
Example

100 IOTX sent to null on IoTeX => 100 IOTX unlock on Eth
100 IOTX on Eth sent to Null => 100 IOTX unlocked on IOTX

Over the years, the amount just builds up.

I mentioned burn and mint. I'm not sure if we actually use the lock and mint. If you want immediate answer, that's not possible atm

EDIT: 12/12/2024, 0216 UTC, this info is inaccurate. Please see /channel/IoTeXGroup/927541

IoTeX Official Group

12 Dec 2024 01:35

Among the 3 billion iotxs, there are 200 million erc20s, and what are the remaining 2.8 billion used for?

IoTeX Official Group

12 Dec 2024 01:28

So the meaning of 3 billion is that it is in erc20 or another chain?

IoTeX Official Group

12 Dec 2024 01:24

Is the purpose of that wallet an all-purpose wallet? It can be minted, incinerated, and bridged. It's like a Doraemon all-purpose pocket. There are 3 billion. What is the specific amount of incineration? What is minting and bridging? I cannot tell.

IoTeX Official Group

12 Dec 2024 01:17

Please check if there is some problem and it has disappeared from Top Account.

IoTeX Official Group

12 Dec 2024 01:16

It was visible for the past 3 years, but disappeared a few days ago. Have you checked Top Account?

IoTeX Official Group

12 Dec 2024 01:14

The address exists, but has disappeared from Top Wallet. check it out

IoTeX Official Group

12 Dec 2024 01:14

https://iotexscan.io/address/0x0000000000000000000000000000000000000000#transactions

IoTeX Official Group

12 Dec 2024 01:13

It could be a burn address, or from where new tokens are minted. In a bridge transaction, the tokens are usually burned on the origin side and then minted on the target network

IoTeX Official Group

12 Dec 2024 01:12

i wonder about Null adress

IoTeX Official Group

12 Dec 2024 00:55

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Learn more: https://novanet.xyz/blog/iotex-and-novanet-bringing-zkps-and-decentralized-id-to-millions-of-depin-devices

IoTeX Official Group

12 Dec 2024 01:51

Haha that'd be wonderful...but I don't think it's as simple as that because afaik, if it's from bridge, it's used to trigger a smart contract. So yeah...it's quite confusing, at least for me..but null is inaccessible to anyone

And as EVM compatible chain, that null address is common to all EVM

IoTeX Official Group

12 Dec 2024 01:47

I don't think that amount in the 0x00 is useable

IoTeX Official Group

12 Dec 2024 01:45

Like I said, it's not just the bridge that use the null address. I've seen the address in bridge transactions mostly.
The amount of IOTX-ERC20 that can exist on Eth is limited to a certain figure. Once we reached that limit, in the past, the bridge just stopped working (IoTeX => Eth)

IoTeX Official Group

12 Dec 2024 01:42

and iirc, there are other transactions which might use the null as a burn address. I can't remember which projects though (either as tax burn or something like that)

IoTeX Official Group

12 Dec 2024 01:35

I don't quite understand.

IoTeX Official Group

12 Dec 2024 01:31

No. That's not accurate. The amount of IOTX-ERC20 will never reach that. It's very limited. Less than 200mill erc20 can exist on Eth iirc. Don't quote me on that though. It's probably cumulative after all the years.

IoTeX Official Group

12 Dec 2024 01:26

No the address doesn't act as a bridge. I'd have to check if this is the null address that is usually found in bridge transaction though.

This burn is not a permanent burn. This burn is to sort of to trigger a new mint for the other side.
It's not like an all purpose wallet

Bridging is moving a token from one network to another (in the context of our conversation)

Minting in this context, is like re-birthing coin on a new network. You wanna move CIOTX to Eth, then that CIOTX will be burned on IoTeX and then it will be 'ported', minted on Eth

IoTeX Official Group

12 Dec 2024 01:19

There are close to 3 billion null addresses. Is this IOTX incinerating + minting + acting as a bridge? How much was incinerated and are there any specific figures?

IoTeX Official Group

12 Dec 2024 01:17

The one that you shared? Yes, just now

IoTeX Official Group

12 Dec 2024 01:15

Ahhh this will probably require the devs to explain correctly. But as far as I understand, it's probably not viewed as a holder in the iotexscan context

IoTeX Official Group

12 Dec 2024 01:14

https://iotexscan.io/accounts

IoTeX Official Group

12 Dec 2024 01:14

Not sure I understand what top wallet view is. Care to elaborate?

IoTeX Official Group

12 Dec 2024 01:13

I sometimes observe iotx scans. Recently, I discovered that the null address was missing from the top wallet view section. Do you know anything?

IoTeX Official Group

12 Dec 2024 01:12

Not sure if you are saying hello, or help

But yeah..Hello there, if you need help, let us know. Be careful of scammers and impersonators, admins/mods will not dm first.

IoTeX Official Group

11 Dec 2024 23:51

Alright. Right there with you