Node operators process transactions and receive token incentives. These independently owned high-spec node machines around the world are connected via Internet Computer Protocol (ICP), creating a self-sovereign network not reliant on any cloud services. Advanced cryptography allows any application or service to be run on the network in a decentralized manner via smart contracts.

The Internet Computer is a decentralized cloud blockchain, where apps can be built fully onchain, using AI, or by coding. Try caffeine.ai & icp.ninja.

ICP tokenholders own and govern the protocol. They currently take (burn) all of the total transaction fees paid by users (revenue). ICP Holders can stake their ICP on the Network Nervous System (NNS), an advanced fully on-chain DAO that facilitates liquid democracy. Staking ICP allows users to submit proposals, vote on proposals, and earn rewards for their participation in governance. Internet Computer's investors include Polychain, Scalar Capital, Amino Capital, etc.

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Internet Computer

# Internet Computer Circulating supply Methodology

## 1. Overview

The Internet Computer Protocol circulating token supply metric measures the total amount of ICP tokens that are currently in circulation and available for trading. This metric represents the liquid supply of ICP tokens, excluding locked or staked tokens that are not freely tradeable. The calculation uses daily network statistics collected from ICP protocol sources to track the circulating supply over time.

## 2. Data sources

The methodology relies on the following data sources:
- **ICP network statistics**: Daily network statistics from Internet Computer Protocol containing comprehensive blockchain metrics
- **External scraper service**: Automated data collection service that regularly fetches ICP network data and stores it in JSON format
- **Circulating supply data**: Daily snapshots of circulating token amounts from official ICP network sources or APIs

## 3. Step-by-step calculation

### Component A: Raw data extraction and parsing
- **Purpose**: Extract daily circulating supply figures from JSON-formatted network statistics
- **Logic**: The calculation starts by accessing stored JSON data containing ICP network statistics. Each record contains a `daily_stats` array with individual day entries. The process extracts the `day` timestamp and `circulating_supply` amount from each daily entry. The `inserted_at` timestamp tracks when each piece of data was collected by the scraper service.
- **Key fields**: `day` timestamp, `circulating_supply` amount in raw units, `inserted_at` collection timestamp

### Component B: Data deduplication and selection
- **Purpose**: Ensure only the most recent data is used for each day when multiple collections exist
- **Logic**: Since the scraper service may collect data multiple times per day or update historical values, the methodology applies deduplication logic. For each unique day timestamp, records are ranked using a window function based on the `inserted_at` timestamp in descending order. Only the record with the most recent collection time (rank 1) is selected for each day.
- **Key fields**: Row numbering based on `inserted_at` timestamp, filtered to rank 1 records only

### Final aggregation
- **Combining components**: The deduplicated daily data is processed to create the final circulating supply metric
- **Currency conversion**: The raw `circulating_supply` amounts are converted from the smallest unit to standard ICP token units by dividing by 10^8, since ICP uses 8 decimal places
- **Time aggregation**: Data is maintained at daily granularity as provided by the source, with each record representing the circulating supply for a specific day
- **Final calculation**: The final metric represents the circulating token supply in standard ICP units, formatted with standardized metadata including chain identifier (`internetcomputer`), token symbol (`ICP`), business line classification (`Blockchain`), and market sector (`blockchains_l1`). A fill strategy of `fill_zeros` is applied to handle any gaps in the time series data.

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of tokens currently available for trading on the open market.

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Circulating supply

Circulating supply

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