After a year in its earliest Initial Coin Offering stage, EOS concluded their ICO raising around 4$ Billion. Private EOS Addresses will start pulling tokens from exchanges. The company behind EOS, Block.one has promised to release the first and only version of EOS’ mainnet software – EOSIO 1.0. The company won’t be participating in the launch of the network and other groups have snapshotted EOS’ blockchain to prepare themselves for the EOS cryptocurrency distribution. All EOS coins that were purchased in EOS’ Initial Coin Offering will be distributed to their owners in the Genesis block. However, observant Reddit users and cryptocurrency enthusiasts used these snapshots to figure out the total EOS cryptocurrency distribution and EOS Addresses.
Numbers are telling a story
The numbers are curious, to say the least. Of course, statistics can be interpreted in many different ways that do not include all factors so after I give you the numbers and statistics, I will talk about some of the factors that come into play. Here are some numbers, when the EOS main network launches.
The EOS mainnet will launch with a total circulation of 1,000,000,000 EOS tokens. The network will also launch with 163,930 EOS addresses that were registered and have a positive token balance to their name. If you want to compare this number, Bitcoin has around 22 million Bitcoin addresses that are holding a positive Bitcoin balance.
The total distribution in EOS Addresses looks like this:
- Block.one are holding 100,000,000 EOS tokens which are 10% of the total circulation. They are also the biggest EOS token holder.
- From top 2 to top 1000 richest EOS Adresses are holding 758,120,383 of all EOS tokens, which is 75.81%
- All of the remaining registered EOS Addresses are holding 138,570,296 EOS tokens which constitutes of 13.86% of the total circulation
- 33% or 3,309,321 tokens are still unregistered
The EOS Addresses Rich List:
- To make it to the top 10 Richest EOS Holders, you will need to have more than 20,675,047 EOS tokens
- To make it to Top 100, you will need more than 646,595 EOS tokens
- To make it to the Top 1000, you will need more than 42,941 EOS tokens
- To make it to the Top 10,000, you will need more than 3,312 EOS Tokens
- And for you to make it to the top 100,000 EOS Addresses, you will need more than 55 tokens
Percentage wise, these EOS Addresses hold:
- The top 10 EOS Addresses are holding 496,735,539 EOS Tokens or 49,67% of the total circulation
- The top 100 EOS Addresses are holding 748,176,831 EOS Tokens or 74.82%
- The top 1000 EOS Addresses are holding 858,120,383 EOS Tokens or 85.81%
- The rest of the EOS Addresses (from 1001 to 163,930) hold a total of 138,570,296 EOS Tokens or 13,86%
The 10% that Block.one is holding, are included in these statistics, so you can deduct their tokens (10% of all) if you want to be more accurate.
The richest EOS addresses probably belong to cryptocurrency exchanges
Many of the top holding EOS addresses are probably accounts, belonging to popular cryptocurrency exchanges. This explains why the richest ten EOS addresses and wallets have almost 50% of all EOS coins. Cryptocurrency exchanges will not show how much of the total circulation they own so we can’t precisely know how much of the tokens are in exchanges. If a wallet belongs to the exchange and it has, let’s say 100 million EOS tokens (which is 10% of the total circulation) we can’t know if these 100 million are owned by 100 whales with a million each or 100 000 users with 100 000 each.
And the probability that the richest or most of the richest wallets belong to exchanges, is pretty high. Registering EOS coins through the EOS interface is pretty complex and a lot of EOS investors have chosen to deposit their EOS tokens to exchanges, so they insure that they get coins on the new chain. Furthermore, many EOS investors probably have more than one EOS address to their name, so all the statistical data can be interpreted differently. This does not mean that there aren’t whales. Of course there are whales and they are strong and powerful as always.
Does these statistics on EOS addresses even matter?
Well, if you want or you already have invested in the projects, then yes! These statistics matter. When you invest in a cryptocurrency, you invest in the project and if you invest without knowing or researching about the project, then you are just gambling. Like investing in publicly traded companies’ stocks, you should know the company’s plans for future development, their business plan, the team and other valuable information, before you invest in them. Otherwise, what are you doing exactly?
When asked about why their ICO is a yearlong, Block.one had justified it by saying that the EOS Initial Coin Offering will be the “fairest coin distribution project that has ever launched on the Ethereum network”. Block.one’s CEO, Brendan Blumer has said:
“To ensure inclusivity, EOS are not sold for a fixed price, but are sold at a price that is predetermined by the market’s demand. This mimics mining and it doesn’t offer unfair advantages to large purchasers (or whales)”
When the stable main network launches and users start to withdraw their tokens from exchange wallets and start holding them in their own privately controlled EOS addresses, then the bigger picture of wealth distribution will become much clearer. At the same time, it is too early to draw radical conclusions from the statistical analysis, as most of the information is subjective. After all, nobody said that wealth distribution is meant to be equal or fair.
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