Pulsechain is a fork of Ethereum. Pulsechain is an EVM (Ethereum Virtual Machine) compatible network. Therefore all ERC20 tokens, which iEthereum is, were duplicated at the time of fork, and now reside as PRC20 tokens on the Pulsechain network.

IMPORTANT NOTE: The Pulsechain block explorer is called PulseScan and can be used to verify and investigate the data used in the following article. Currently, PulseScan is working on indexing pre Pulsechain fork data, which means that token balances and other pre Pulsechain information may not (does not) reflect accurate value until the task is completed. For example, currently PulseScan states there are only 28 holders of iEthereum with the #1 iEthereum holder (Yobit) showing an amount held of 6,203,408 iEthereum. This # seems to reflect an amount Yobit held in earlier days of iEth. Currently, the # of original iEthereum Yobit holds is 3,253,175 and should be the amount allocated to that address at time of Pulsechain fork. Therefore, at this time we can’t accurately confirm the quantity of Pulsechain iEthereum on PulseScan data. Only estimate.

So lets talk more simply…

Simple logic would state that there are 18,000,000 original iEthereum on the Ethereum Network. Therefore, at the time of the Pulsechain fork; those 18 million iEthereum were duplicated and so there are now 18 million iEthereum on Pulsechain.

However, this is not a 100% accurate. There are at least two denominators in this equation that short that supply. One denominator will create a fluctuation of supply and yet never possibly exceeding the 18,000,000 iEthereum on any given Ethereum chain. And the second denominator concretes a known short supply.

First denominator is the # of iEthereum held on centralized exchanges at time of the fork. Unless the wallet address was blacklisted from Richard Heart, these iEthereum were airdropped into the hands of the centralized exchanges and not into the accounts of the individuals who held iEthereum on the Yobit exchange. As mentioned above, there are currently 3.253 million iEthereum held in the Yobit exchange wallet. What Yobit does with those airdropped Pulsechain iEthereum is dependent on Yobits mood and will affect the circulating supply of Pulsechain iEthereum (PiEth). This wallet alone represents nearly 20% of the total supply.

Mercatox, another centralized exchange holds nearly 400,000 original iEthereum and therefore were airdropped PiEth (Pulsechain iEthereum). Is Mercatox going to release and circulate this supply?

Etherdelta is another known wallet example that will determine the quantity of Pulsechain iEthereum circulating. Although Etherdelta, aka Forkdelta was considered a decentralized exchange; it did require token holders to deposit into a mutual custodial wallet while doing business on the platform. The Etherdelta custodial wallet holds a total of 840,525 original iEthereum and currently is listed as the #2 holder of the token. This address will have PiEth duplicates. However, with Etherdelta no longer an operating platform, I am not confident those Pulsechain iEthereum are accessible to the individual holders. We will have to wait, monitor and see.

The second denominator that concretes a lesser supply of Pulsechain iEthereum are those iEthereum that at the time of fork were locked in a dex liquidity pool such as Uniswap. It is my understanding the worlds largest airdrop that came upon the Ethereum/ Pulsechain fork did not include Uniswap (dex) liquidity pools.

The 5th largest holder of original iEthereum is the UniswapV2 iEth/Eth pool with a total of 318,797 tokens held.

Uniswap V3 iEth/Eth is the 53rd largest holder of iEthereum with 39,513 tokens.

The 56th holder of iEthereum is Uniswap V2, the PAXG/iEth pool with 37,955 tokens held.

Additionally, the 85th largest holder of iEthereum is the Uniswap V2 pool containing the pairs of iEth/Hex with 23,645 iEthereum at time of writing.

It is my opinion, that 18,000,000 original iEthereum minus the combined Uniswap liquidity pools of 419, 911 concludes 17,580,088 is the possible total max supply on Pulsechain. If you take into consideration of Yobit, Mercatox and Etherdelta and the uncertain distribution of their holdings combining 4,493,700 iEthereum; we could say with certainty that the possible total accessible circulating supply could be as low as 13,086,388 Pulsechain iEthereum.

When we are considering total circulating supply; we may also have to consider lost wallets or wallets that won’t recover their iEthereum. They exist somewhere but realize they won’t be circulating anytime soon, if ever.

According to the Wall Street Journal, nearly 1/5 of the Bitcoin total supply is lost forever. If we applied the same assumed percentage of nearly 20% of iEthereum is lost forever, that totals +-3.5 million iEthereum lost forever.

We can conclude that the estimated total supply of Pulsechain iEthereum (Pieth) is somewhere between 9,586,389 and 17,580,088. This is an assumption based on 419,911 original iEthereum was locked in Uniswap liquidity pools at time of fork that would not be duplicated. In our estimates, we conclude 17,580,088 is the total possible max supply of PiEth and the total possible minimum supply of PiEth is 9,586,389.

iEther way, We see value!