I had 468.254 coins no transactions my wallet shows now only 62.68 I’m troubled?
I just had the exact same thing happen. Did you find out anything on it yet?
is this due to the rebase aspect of the token??
I don’t think it’s from the rebase because I lost the value of the coins that went missing
Yes I’m still missing over 200 coins
Yes I’m missing more now
me too… missing more benchmark tokens in metamask… ANYONE have info on what is going on??? Multiple people missing coins from metamask and no support… No support from benchmark telegram.
Just sitting here watching coins disappear from metamask with no idea why!
EDIT : Mod in TG chat confirmed it is the rebase aspect of the coin. This is “not unexpected” and “the MARK token is a rebasing currency so the supply (token count) is adjusting daily we had a significant supply contraction over the last few months so the token count in everyones wallet is affected equally”…
OMNI999 from telegram chat “Benchmark protocol official” got back quickly on this!
Hi what was out come did you get coins back?
What was address I sent email no reply?
MARK tokens are supply elastic and non-dilutive, meaning you hold a fixed percentage of a finite supply and the token count changes based on TWAP (time weighted average price) to target a specific price per token, in this case the IMF reserve asset SDR, Currently ~$1.43 When Metamask reads your balance from the MARK token contract, it returns your percentage holding multiplied by the total supply of tokens.
So you get your tokens back when market demand increases, if you are able to hold long enough and not fixate to much on token count. If you sell your share of the network the buyer is the one who gets those tokens back.
If this confuses you and you want to get rid of them, just leave one in your wallet and observe it in the coming months, if you hold 1 at the start you will hold 2 after supply doubles in size, if you hold 1k you will hold 2k and so on.
Except that’s exactly how rebase works, market value is determined by the price per token that a buyer and a seller settle at, token contract responds by adjusting supply impacting every holder equally creating a unit of account that can be used to denominate loans etc.
DYOR first, look up community socials, ask questions and make sure you understand it before spreading your opinions on forums, please and thank you.
Thanks for the helpful info