$OWL token is a BSC token, whose max supply is 500 million. It can be bridged back and forth to Polygon and Fantom. Now Matic and Fantom version have been retired.
When we launch OwlDAO back on Sep 7th, 2021, we launched equally on Polygon and Binance Smart Chain, each issued 500 million tokens. Then to accommodate our partnership with Fantom projects we issued another 200 millions tokens.
$OWL tokens on each chain can be bridged to each other 1:1 via Owl.Games Bridge.
OwlGames Bridge Reserve
The OwlGames bridge is not like a usual bridge where you send in a token on Chain 1 and it will help issue another token on Chain 2. If you send back the issued token on Chain 2 it will burn the mirror.
OwlGames Bridge needs token reserves on multiple chains to perform the bridge. It holds both tokens on Chain 1 and Chain 2 so if you deposit from one chain, you can withdraw from the other chain. Those extra tokens are considered locked since you can only get 1 $OWL out when you deposit 1 $OWL in. The remaining balance (sum of multiple chains) will not change along time.
Shifting to BSC
Along time we realized that we need to choose a main token for OwlDAO project, it's helpful to concentrate the liquidity and accommodate needs to be listed in CEX. We decided to focus on $OWL on BSC. For detailed token stats on each chain, you can refer to our official website for OwlDAO.
Our current circulation amount is 88.7m + 38.8m + 24.9m = 152.4m (all chain)
Even in a very extreme case, that all token holders want to bridge their Polygon and Fantom tokens to BSC, we still have enough BSC tokens for that in OwlGames Bridge Reserve. We currently hold 60m in BSC reserve and only 63.7 million on Polygon and Fantom chains. Let alone most of the tokens on Polgon and Fantom are in LPs and staking contracts.
Notes on Polygon Tokens
We've locked 300 million OWL with PolyDex for team portion. Yet the amount will be locked until Thursday, 7 September 2023 05:00:00 UTC because PolyDex team's contract has a bug that prevent any vest. So team decide not to vest any OWL from these 300 million OWL token and will burn them as soon as they can be retrieved from the contract on Thursday, 7 September 2023 05:00:00 UTC.