Background

• Circulating supply calculated on-chain affects miner collateral, higher supply = higher collateral requirements
• The “locked” calculation has multiple inputs: SAFTs, pledge collateral, vesting rewards, market collateral
• Built-in market is a tiny proportion
• Future markets may lock tokens, but be excluded from circulating supply calcs. Supply is actually lower than calculation, so pledge higher.
• What’s the working definition of “locked” and “supply” that we want?

Locked amounts

Miner pledge

• locked until date
• need to be able to unlock early, but only to burn as fees
• need to be able to postpone unlock of amounts per sector when extending
• miner actor would still need to track per-sector pledge amount and dates in queues

Miner rewards

• locked until date (in stages)
• need to unlock early as fees

Market pledge

• locked until date
• need to release early to pay as insurance to a different party
  • this means they’re not really locked from supply!