Market cap
How is market cap calculated?
Market cap = spot price per token × 1 billion issued tokens. During launch, spot price uses effective reserves: real SOL plus 30 SOL, divided by real vault tokens plus 73 million tokens. After graduation, it uses only real SOL and token reserves.
This is a full-supply valuation, including the inventory still in the pool. It is not the value of only the tokens held by traders.
What does a 10 SOL first buy do?
The site converts these market-cap values into USD using its current SOL/USD rate. The example uses SOL so the curve effect is independent of the exchange rate.
| Metric | Fresh curve | After a 10 SOL first buy |
|---|---|---|
| Real SOL reserve | 0 SOL | 9.9 SOL |
| Platform fee accrued | 0 SOL | 0.1 SOL |
| Tokens held by the buyer | 0 | 266,233,082.706766 |
| Implied market cap | About 27.959 SOL | About 49.457 SOL |
Can holders withdraw the market cap?
No. Only the real SOL reserve can fund sells. Selling moves the price down as tokens return to the pool, so multiplying a wallet’s tokens by the current spot price overstates the proceeds of a large sale.
Market cap and the chart use USD. Purchases, SOL balances, fees, and reserves remain in SOL; token balances stay in token units.