# DAO Token Transfer, Burn & Mint **URL:** \ **Category:** General\ **Created:** [December 9, 2022, 2:54pm UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325 "2022-12-09T14:54:30Z")\ **Posts on this page:** 8\ **Page:** 1
**Author:** ![kaimi](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/kaimi/32/384_2.png) [@kaimi](https://forum.truefi.io/u/kaimi)\ **Post date:** [December 9, 2022, 2:54pm UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/1 "2022-12-09T14:54:31Z")
**Summary:** Following the plan for [Establishing the TrueFi Foundation](https://forum.truefi.io/t/proposal-establishing-the-truefi-foundation/1226) and progressive decentralization, the next step in this process moves ownership of TRU tokens from Archblock (fka TrustToken) owned multisigs to DAO ownership. For a number of operational reasons these TRU tokens will be burned, and the ability to re-mint TRU will be transferred to the DAO. This post is a walkthrough of what is going to happen soon as a consequence of TFIP-2, TFIP-3 and DAO separation efforts. **Impact:** This process will reduce TRU total supply by ~242 million tokens. Circulating supply and max supply will not be impacted. Approx. 242,793,676 TRU tokens will be burned across two addresses below. 1. [0xc7AB606e551bebD69f7611CdA1Fc473f8E5b8f70](https://etherscan.io/address/0xc7AB606e551bebD69f7611CdA1Fc473f8E5b8f70#readProxyContract) (multifarm distributor for DAO pools) 1. note: 500,000 TRU will be left in this distributor to satisfy remaining emissions to tfUSDC for an additional 50 days at 10,000 TRU/day 2. [0x4A10ab6Af3A7d1FEa49aADc99059d581B3fba7E7](https://etherscan.io/address/0x4A10ab6Af3A7d1FEa49aADc99059d581B3fba7E7) (TRU multisig distributor) ## Timeline 💡 Prerequisite: [TFIP-3 proposal passes](https://www.tally.xyz/gov/eip155:1:0x585CcA060422ef1779Fb0Dd710A49e7C49A823C9/proposal/32162870676697832842906159407550040934392672292244122124426900894761065432305) ### 1. Burn & Mint operation for Incentive Tokens 1. TRU tokens residing in distributors would be revoked. Reasoning: some distributors might have lots of TRU tokens, e.g. at least [multifarm distributor 0xc7AB, holding ~107M TRU](https://etherscan.io/address/0xc7AB606e551bebD69f7611CdA1Fc473f8E5b8f70#tokentxns)) 2. Incentive TRU tokens will be **burned** by Archblock’s [“Multisig Distributor” 0x4A10a](https://etherscan.io/address/0x4A10ab6Af3A7d1FEa49aADc99059d581B3fba7E7) 3. Ownership of TRU contract will be passed to TrueFi DAO governance (in accordance to [TFIP-2](https://www.tally.xyz/gov/eip155:1:0x585CcA060422ef1779Fb0Dd710A49e7C49A823C9/proposal/36746427509512986147276791604636538742560015378946296127726232188685718540244)) 4. At any later point in time TrueFi DAO will _be able_ to mint TRU tokens to the [DAO Incentives Address](https://etherscan.io/address/0xB74c97c64d52f8f746efA72CD83D59cDf75F1a98). This will be a separate governance decision. 💡 Please note that the total supply of TRU tokens will be lower for a period of time between the burning of incentives tokens Archblock and DAOs decision to re-mint. ### 2. Transfer of TRU tokens from multisig addresses to DAO Treasury address TRU tokens in wallets [0xe74b](https://etherscan.io/address/0xe74b87233a43e73bdb002816a2290dc899eb73f3) and [0x96078](https://etherscan.io/address/0x96078ee7adf86328f61b54b72127121683b3c94e) will be sent to the [DAO Treasury Address](https://etherscan.io/address/0x863461596aB57b91B873b26D4F0a701a9703B9Ca) ### Results of simulation on mainnet fork, 5.12.2022 ![Screenshot 2022-12-05 at 2.31.02 PM](https://us1.discourse-cdn.com/flex016/uploads/truefi/original/1X/471233ff4adeac60b0283721f69155c599de6e9e.png) ---
**Author:** ![GPetrandis](https://avatars.discourse-cdn.com/v4/letter/g/a5b964/32.png) [@GPetrandis](https://forum.truefi.io/u/GPetrandis)\ **Post date:** [December 12, 2022, 1:21am UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/2 "2022-12-12T01:21:46Z")
How does this effect TRU tokens stored via Coinbase? Today I have 50,000 tru tokens, will I still have 50,000 tru tokens after the DAO Token Transfer, Burn and Mint? Thanks, ---
**Author:** ![TylerEther](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/tylerether/32/484_2.png) [@TylerEther](https://forum.truefi.io/u/TylerEther)\ **Post date:** [December 12, 2022, 2:16am UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/3 "2022-12-12T02:16:02Z")
Everyone’s TRU tokens will be unaffected. This is effectively a transfer of tokens from ArchBlock-controlled addresses to the DAO treasury. You’ll still have your 50,000 TRU tokens after these actions are performed. 🙂 ---
**Author:** ![GPetrandis](https://avatars.discourse-cdn.com/v4/letter/g/a5b964/32.png) [@GPetrandis](https://forum.truefi.io/u/GPetrandis)\ **Post date:** [December 12, 2022, 2:29am UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/4 "2022-12-12T02:29:44Z")
Excellent, appreciate the clarification. ---
**Author:** ![rafaelcosman](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/rafaelcosman/32/4_2.png) [@rafaelcosman](https://forum.truefi.io/u/rafaelcosman)\ **Post date:** [December 19, 2022, 5:04pm UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/5 "2022-12-19T17:04:54Z")
Thanks for the posts @kaimi, @TylerEther, and others. Just a heads up that we are proceeding with this as planned today! ---
**Author:** ![rafaelcosman](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/rafaelcosman/32/4_2.png) [@rafaelcosman](https://forum.truefi.io/u/rafaelcosman)\ **Post date:** [December 20, 2022, 7:51pm UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/6 "2022-12-20T19:51:27Z")
Just noting here- this is now complete. ---
**Author:** ![SmartDefi](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/smartdefi/32/827_2.png) [@SmartDefi](https://forum.truefi.io/u/SmartDefi)\ **Post date:** [December 20, 2022, 11:55pm UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/7 "2022-12-20T23:55:20Z")
![Polish_20221221_095431680](https://us1.discourse-cdn.com/flex016/uploads/truefi/original/1X/36b3719610da1b1b550c74e4e741a752d16006e2.jpeg) ✌🏽 ---
**Author:** ![tylerw](https://sea2.discourse-cdn.com/flex016/user_avatar/forum.truefi.io/tylerw/32/757_2.png) [@tylerw](https://forum.truefi.io/u/tylerw)\ **Post date:** [January 10, 2023, 7:20pm UTC](https://forum.truefi.io/t/dao-token-transfer-burn-mint/1325/8 "2023-01-10T19:20:29Z")
Following the recent TRU burn/mint actions, TRU circulating supply logic needs to be updated across market data sources such as [CoinGecko](https://www.coingecko.com/en/coins/truefi), [CoinMarketCap](https://coinmarketcap.com/currencies/truefi-token/), and this [API](https://truefi-circulating-supply-api.herokuapp.com/circulatingSupply). I have put together updated calculations on TRU supply and will be working with others to implement these changes across providers. At time of writing on Jan 10 2023, **circulating supply is 957,701,620 TRU**. For detailed calculations, please see screenshots below from [this spreadsheet](https://docs.google.com/spreadsheets/d/12YXxHwH5EtesZ-SA3QDT8Jwn73W8Ttv8mk4f6ImNaMA/edit?usp=sharing). ![image](https://us1.discourse-cdn.com/flex016/uploads/truefi/original/1X/21d8eb5b79a9b24f776805211a311b0ac481cf1d.png) ![image](https://us1.discourse-cdn.com/flex016/uploads/truefi/original/1X/5750296e1c2bf9ba5837f7d362a748604b76942a.jpeg)