I'm looking at Tzscan's API for the circulating supply. 611 454 213 tez were distributed to fundraiser participants and early backers. About 24 458 195 tez (16%) of TF + DLS funds should now be unlocked. 21 143 856 tez in reward have been unfrozen and 149 845 tez have been burned. That would give us a circulating supply of about 656 906 419 tez. CMC show a circulating supply of 607 489 041 and coingecko/tzscan show a circulating supply of 785 312 978. Can anyone explain what the real number should be and put an end to the current confusion?

  • Are you sure of your computation of the TF and DLS share ? I remember that the total initial supply was around 750 Mtz.
    – lefessan
    Feb 22, 2019 at 16:54
  • Found these stats now: tezos.foundation/fundraiser-statistics Forgot early backers. Will add that to my calculation. Only the unlocked share of the TF + DLS funds should be counted as circulating as I understand it.
    – Klassare
    Feb 22, 2019 at 17:03

2 Answers 2


Circulating supply should be the amount currently being traded on the open market, or available for trading

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    This answer could be improved by adding information on calculating the amount given how Tezos genesis was allocated, how the bonding functions, and known vesting contracts.
    – cousinit
    Dec 20, 2019 at 18:34

Well, the "official" information, available in tzscan API but also here is that of 785,312,974.863851. This is also shown in other websites that draw from that API (like coingecko).

You are right that it is shown differently in other sites, for instance, CMC. However, if you look into other coins in CMC, you can see they have different numbers for other coins too. Compare for instance Monero in CMC and in their own website. Not even Bitcoin they are totally consistent with other sites (CMC, explorer). An example for a PoS currency showing different numbers is PIVX (CMC, explorer).

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    The "official" information is obviously wrong, since it include coins that should be out of circulation. That's why I ask for the correct numbers. I think correctness and transparency is important for building trust around Tezos. Making up different kind of excuses is not an answer and doesn't help anyone.
    – Klassare
    Feb 23, 2019 at 12:28
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    Do you wish to exclude the tokens locked in the vesting multisig contracts, as a special case? Generally, I think it will be very difficult to determine whether some tokens in the balance of an arbitrary scripted contract are "circulating"...
    – Tom
    Feb 23, 2019 at 19:51
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    Yes, I think excluding the locked up tokens in the vesting contracts for TF + DLS is the only way to do it correct. Introspect all contracts in general would ofc be to complex.
    – Klassare
    Feb 24, 2019 at 2:02

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