A deliberate change from our October 2024 CoinMarketCap submission
That submission excluded both of the holdings above. We now count them, which raises our reported circulating supply by roughly 3,442,043 XPHX and lowers every ratio computed against it. We are stating the change rather than letting the figure drift, because a supply methodology is only worth anything if the reasoning is published alongside the number, including when the reasoning moves against us.
What the treasury released on 11 September 2026. 2,100,000 XPHX left the treasury wallet that day, 1,700,000 from the company allocation and 400,000 from the liquidity provisioning allocation, to seed the sXPHX vault, the lending markets and the liquidity pools. That part is in circulation and has been counted since that day. It is a change of fact, not of method: the rule did not move, the tokens did. We are stating it here and naming the step it made on the supply chart rather than letting the circulating figure drift up without a reason beside it.
Only what has not been released stays excluded: what the treasury wallet still holds (11,672,405 XPHX at this reading) and the company-owned holding (258,023 XPHX). Neither has been released to the market and both are under our direct control, which is the same test applied in both directions.