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Tokenomics

Circulating Supply

The number of tokens currently tradeable in the open market, excluding locked, vested, or burned supply. Used with current price to calculate market cap. Vesting unlocks increase circulating supply, which can be a structural sell pressure event.

See also
Tokenomics Market Cap (MC) Calculated as circulating supply times current price. The primary valuation metric for memecoins. Not equivalent to total capital invested — a token with $1M MC has not necessarily received $1M in net inflows. Early bonding-curve buyers have cost bases far below the current MC. → Tokenomics Vesting A time-based release schedule for locked token supply. Vesting completion dates are public on-chain via the vesting program's PDA. A large single-event unlock (20%+ of supply on one date) with no announced holder commitment program is a rug-after-vesting warning pattern. → Tokenomics Mint Authority The SPL Token Program authority that can create new tokens. If set to null, supply is permanently fixed and the inflation rug vector is mechanically closed. Pump.fun and LetsBonk set mint authority to null by default at launch. →
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