I was doing a bunch of due diligence on XELIS, and then found out that they had had an emergency hard-fork to fix an inflation bug. I would just like to share that I am seeing the NPT team being way more transparent, and trying to fix things.
Per the NPT Jan 21 blog post, it sounds to me like they are trying to implement a solution that will guarantee that the supply stays at 42m coins. Is that correct ? If anyone can confirm.
XELIS team on the other hand has failed to do any supply audit, even though the emergency hard-fork was way back on Dec 31, 2024.
The Jan 21 blog post is about announcing the vulnerability and explaining why the network is down. The strategy for establishing certainty about the money supply is explained in the Feb 3 blog post. In summary:
A future fork will require that all UTXOs that were confirmed before a to-be-determined cutoff date, must reveal themselves publicly as a precondition to being spent. This revealing includes, in particular, the amount being spent.
Every such amount is decremented from a counter that is initialized to the total money supply in existence, calculated according to the premine and block subsidies.
This counter is not allowed to be negative, so transactions that would make it negative are rejected.
As a result, the correct supply limit is enforced.
However, you might find interesting to leave some funds alone (e.g. for a few months) to see if someone stole them. If not, you can more convince yourself nobody exploited the supply.