How to verify circulating supply on CoinMarketCap

What does CoinMarketCap need to verify?

CoinMarketCap needs a defensible explanation of which units are in circulation and how the project calculated the figure. The displayed value is not simply the token’s maximum supply or every unit ever created; the project should show how its reported number follows from the token’s actual supply and the status of excluded balances.

Start with a dated reconciliation that identifies the source figure, each deduction, and the resulting circulating supply. The point is not to make a wallet label sound persuasive. It is to let a reviewer follow the reasoning from public contract data and project records to the number you propose.

Before preparing the package, agree internally on:

• Which chain and token contract the submission concerns.
• Whether the calculation is for a single token or includes bridged representations.
• Which addresses or allocations are excluded and why.
• How vesting, locks, treasury use, burns, and future unlocks are handled.

Keep circulating supply distinct from total supply and maximum supply. If the project has more than one token contract or a migration history, make that relationship explicit rather than combining balances without explanation. For background on the broader profile process, see the CoinMarketCap listing guide.

How do you calculate and reconcile circulating supply?

Build the calculation from observable supply data, then account for each category that your methodology treats as unavailable to the market. A reviewer should be able to trace every adjustment to a contract, address, or dated project record instead of relying on an unexplained headline figure.

Use a working sheet with one row per relevant balance or allocation. Record the address, token amount, classification, reason for inclusion or exclusion, evidence source, and the date checked. Reconcile the sheet against the token contract’s supply data and explorer balances. Keep units and decimals consistent, and state whether the figure includes tokens on other networks.

A practical review sequence is:

• Read the token’s supply and authority information from the contract or a reliable explorer.
• List project-controlled, locked, vested, treasury, burn, and bridge-related balances separately.
• Explain why each listed balance is counted or excluded under the project’s method.
• Recalculate the result and have someone other than the preparer check the arithmetic.
• Save the source links and a dated copy of the calculation for the submission.

Do not assume that a label such as “team,” “locked,” or “burned” proves a balance is unavailable. Pair the label with evidence of the relevant restriction or contract behavior. If the public profile contains an outdated figure or supporting details, address that separately through CoinMarketCap profile remediation.

Which documents should you prepare?

Prepare documents that connect the supply calculation to verifiable on-chain facts and project commitments. The strongest package is concise: each item answers a specific question, and the calculation sheet points directly to the evidence that supports it.

A useful document set can include:

• Token and network details: contract address, chain, decimals, and links to the relevant explorer pages.
• Supply calculation: a dated spreadsheet or signed document showing the starting figure, adjustments, and final reported amount.
• Wallet schedule: addresses, balances, ownership or control, and the reason each balance is treated as circulating or excluded.
• Lock and vesting evidence: applicable contract addresses, public terms, release conditions, and schedules for allocations that are not yet transferable.
• Authority details: an explanation of minting, burning, pausing, or upgrade controls, with contract references where available.
• Burn evidence: transaction or contract references that support any claimed destruction of tokens.
• Project confirmation: a concise statement from an authorized project representative confirming that the submitted calculation is current.

Use public evidence wherever possible. If a document includes confidential commercial information, provide only what is needed to substantiate the calculation and check the platform’s current submission instructions before sharing it. Keep filenames and labels specific, and make sure that amounts, addresses, and dates agree across every attachment.

How should you explain locks, bridges, and token controls?

For complex token models, explain the mechanism that changes whether a balance is available, rather than relying on a broad label. This matters when tokens can move through a vesting contract, treasury process, bridge, or admin-controlled contract.

For vesting, identify the contract or allocation, the recipient category, the release conditions, and the source for the schedule. If tokens unlock over time, show how the calculation treats the currently locked balance and how it will be updated when the restriction changes. For treasury holdings, distinguish a disclosed project-controlled wallet from a balance that is technically inaccessible; control and availability are not the same claim.

For bridged assets, map the original token and the representation on each network. Explain whether the bridge locks, burns, or otherwise accounts for the original units when a representation is issued. Avoid counting both sides as independent circulating units unless your methodology explains why that treatment is appropriate. For burns, use contract or transaction evidence and describe any authority that could alter the token supply.

A clear appendix can show each case as balance → mechanism → evidence → treatment in calculation. If the project has a migration or contract replacement, include the old and new addresses and explain how balances move between them. For platform-specific community or profile questions, the CoinMarketCap community verification service is a separate route from a supply calculation update.

How do you submit a clear supply update?

Submit one consistent package that tells the reviewer what changed, what number you propose, and where the evidence can be checked. A short cover note should state the token name, chain, contract address, current displayed figure if relevant, proposed figure, and the reason for the request.

Before sending it, confirm that:

• The calculation uses the correct token contract and chain.
• Every excluded balance appears in the wallet schedule and has evidence.
• The final figure can be reproduced from the attached working sheet.
• Public explorer links open to the relevant contract, wallet, or transaction.
• The same figures and terminology appear in the cover note and attachments.
• The project’s public token information does not contradict the submission.

Follow the current instructions on the official CoinMarketCap support site and use the appropriate project contact or request path. Keep a copy of the submitted material and note when it was sent. If the team asks for clarification, answer the precise question and update the supporting calculation if the underlying facts have changed; do not send a second version with conflicting figures. The circulating supply verification service can help organize evidence and prepare the submission, but the project should retain the source records and be able to explain its own methodology.

When should a circulating supply figure be updated?

Update the calculation when a material supply event changes the amount your methodology treats as circulating. A figure that was accurate at launch can become stale after vesting releases, token burns, treasury transfers, migrations, or changes to contract controls.

Maintain a simple change log alongside the calculation. For each change, record what happened, which addresses or allocations were affected, the evidence source, and how the reported figure changes. Keep the prior version rather than silently replacing it; this helps the team explain the difference between submissions and answer follow-up questions consistently.

Assign an owner to review the supply records whenever the project executes a relevant event. Before publishing a new figure, check the calculation against explorer data and confirm the public token documentation reflects the same treatment. If there is no change to supply or classification, avoid submitting a cosmetic revision that makes the history harder to follow.

For a separate listing application or profile correction, distinguish that request from a supply verification update. The CoinGecko listing guide covers a different data provider and process; a package prepared for one platform should not be assumed to satisfy another platform’s requirements.

What can CoinMarketCap decide during its review?

CoinMarketCap decides whether the evidence supports its displayed circulating supply, how it applies its methodology, and when or whether it changes the profile. A well-organized submission improves clarity, but it cannot compel acceptance, a particular figure, or a review date.

The main sources of disagreement are usually classification and proof: whether a balance is genuinely unavailable, whether a vesting or lock arrangement is supported by the linked records, and whether bridged representations have been counted consistently. Contract permissions also matter. A balance described as locked may be treated differently if an administrator can release it, so disclose relevant controls and explain how they work rather than omitting them.

Before submitting, ask a reviewer who did not prepare the package to challenge each exclusion. Can they reproduce the number? Can they open the evidence? Is there a clear reason for the treatment? If an answer is unclear, fix the document before sending it. Use the platform’s current instructions for the final request, and be prepared to clarify the calculation if the review team asks. This is an evidence-preparation process, not a way to control the platform’s independent assessment.

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How it works

1. Confirm the token and networkVerify the contract address, chain, decimals, and any migration or bridged representations. Make sure the calculation concerns the same asset shown on the profile.
2. Build the supply reconciliationList relevant balances and explain how each is treated. Recalculate the proposed figure from documented on-chain data and project records.
3. Collect evidence for exclusionsAttach wallet, vesting, lock, burn, and contract-control evidence where applicable. Link each item directly to the corresponding row in the calculation.
4. Review for consistencyHave a second person check the arithmetic, labels, addresses, and supporting links. Resolve discrepancies between the calculation and public token information.
5. Submit and maintain the recordUse CoinMarketCap’s current project support instructions. Save the submitted package and update it when a material supply event changes the calculation.