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Tokenomics

Fully Diluted Valuation (FDV)

Market cap calculated at the maximum possible token supply rather than circulating supply. Relevant when large portions of supply are locked or vesting. FDV versus MC divergence shows how much supply pressure will enter the market as locks expire.

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 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. → 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. →
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