Distribution and Allocation

How tokens split at genesis determines who wins when price moves. Fair launches, VC-heavy allocations, and community airdrops each embed different power dynamics — read the cap table before buying.

Fair launches minimize pre-mine — everyone buys or earns on similar terms. VC-backed tokens often allocate 15–30%+ to insiders with vesting. The question is whether those terms are disclosed and enforced on chain.

Fully diluted valuation (FDV) equals price times total supply including locked tokens. A low float with huge locked supply creates the illusion of a cheap market cap. Always compare circulating market cap to FDV before calling a token undervalued.