An active claim is a token unlock currently in the committed or announced window, the period between the team's public announcement and on-chain execution. Active claims represent the most imminent and market-relevant supply changes.

Adjusted market cap is Tokenomist's proprietary valuation metric that multiplies the current token price by the adjusted released supply: all tokens that have exited their locked state, including those still held by insiders. It provides a more accurate picture of actual market exposure than standard reported market cap.

A free distribution of tokens to users who meet eligibility criteria, typically past users of a protocol, holders of a specific asset, or users reaching a points threshold. Airdrops serve as a user acquisition and distribution mechanism, converting existing users or community members into token holders with immediate governance rights.

A filter preset in Tokenomist's Unlock Events tab that displays every scheduled token release across all mechanisms (cliff, linear, mining, and yield farming), providing the broadest, unfiltered view of a token's supply expansion.

An announced claim is the status assigned when a project team publicly discloses the exact amount of tokens that will be claimed, before the transaction is executed on-chain. It sits between the whitepaper estimate and on-chain confirmation in Tokenomist's claim lifecycle.

Assumption and precision is Tokenomist's dual-axis framework for grading data confidence. Every unlock data point carries an assumption type (how the data was sourced) and a precision level (how accurately the timing is known), giving users transparent confidence grades for every metric.

Beneficiary categories are Tokenomist's six standardized groups for classifying every token allocation: Founder/Team, Private Investors, Public Investors, Reserved, Community, and Other. This normalization enables apples-to-apples comparison of allocation structures across different projects.

A filter preset in Tokenomist's Unlock Events tab that surfaces only major unlock events exceeding $10M in value, excluding mining and yield farming, designed to highlight the most impactful supply events that can meaningfully move token prices.

Circulating supply is the number of tokens available for open market trading: tokens that have been transferred out of stakeholder wallets. Tokenomist distinguishes this from released supply (unlocked but possibly still held by insiders), giving a more accurate picture of what is actually tradeable.

Claim percentage is the share of total token supply represented by a single claim transaction. It appears as a column in Tokenomist's Supply Analytics Claimed table and helps investors assess the magnitude and potential market impact of individual unlock events.

Claim status is the verification tier assigned to each token unlock in Tokenomist's three-stage claim lifecycle: Whitepaper (estimated from project docs), Committed (announced by team, not yet on-chain), or Completed (claimed and verified on-chain).

Claim to address is the destination wallet that received claimed tokens in an on-chain claim transaction. Displayed in Tokenomist's Supply Analytics Claimed table, it reveals whether unlocked tokens were sent to exchange wallets, personal wallets, or DeFi protocols.

Claimed supply represents tokens that have been fully executed and verified on-chain, the final state in the claim lifecycle. On Tokenomist's Released Progress bar, it measures the subset of unlocked supply that beneficiaries have actively withdrawn to their wallets, and is always less than or equal to unlocked supply.

A cliff unlock concentrates sell-side pressure into a single event, making it the highest-impact date on any token's unlock calendar. In Tokenomist's emission methodology, a cliff is any discrete token release occurring at intervals exceeding one day (weekly, monthly, or quarterly) as opposed to daily linear emissions.

A committed claim is the firmest pre-execution status in Tokenomist's claim lifecycle, indicating that the team has announced a specific amount will be claimed but the transaction has not yet been confirmed on-chain. It represents the final stage before completion.

The countdown is the time remaining until a scheduled token unlock or claim event. In Tokenomist's Supply Analytics table, it displays relative time for distant events ("3 months left"), switches to a live HH:MM:SS format within 24 hours, and shows elapsed time for past events ("2 months ago").

Dynamic emission indicates whether a token's emission schedule is variable or reactive rather than fixed and predetermined. On Tokenomist, tokens with buyback, burn, or governance-adjustable emission mechanisms are classified as dynamic, while those following a predetermined timeline are classified as fixed.

Emission is the net change in released supply over a period, representing the rate of supply dilution or contraction. The formula is Emission = Inflation - Deflation, capturing both new supply entering the market and supply permanently removed.

Float % is the percentage of a token's total supply that is currently freely tradeable on the open market. On Tokenomist, it is calculated as Circulating Supply divided by Max Supply multiplied by 100. A low Float % means most supply is still locked, making the token more sensitive to unlock events.

Fully diluted valuation (FDV) is the theoretical total market value of a cryptocurrency assuming all possible tokens are in circulation, revealing the full dilution burden that future unlocks impose on today's holders. For tokens with a defined max supply, FDV = Current Price x Max Supply. For unlimited-supply tokens, Tokenomist uses Year-2035 projected supply to provide a bounded estimate.

A Pro-tier filter preset in Tokenomist's Unlock Events tab that isolates team and private investor token releases: the most market-sensitive unlock events, often watched closely by traders and institutional investors for sell-side signals.

Linear vesting produces predictable daily dilution that the market can absorb incrementally, making it the lower-impact component of any token's emission profile. In Tokenomist's methodology, linear emission is defined as the continuous, daily release of a specific number of tokens, as opposed to cliff events that occur at wider intervals.

A tokenomics mechanism where protocols distribute newly minted tokens to users who provide liquidity to decentralized exchanges or lending protocols. Miners earn protocol tokens proportional to their liquidity contribution, incentivizing capital deployment and reducing the cost of bootstrapping trading volume.

The loan and call option model is a market making arrangement where the issuer lends tokens to the market maker for inventory, and the market maker is compensated with call options over some or all of those tokens rather than a cash fee. It is the most common structure in crypto market making and the one most often misunderstood by first time issuers.

Locked supply is the number of tokens that have been restricted to prevent trading in the public market. These tokens have specified lock durations and release mechanics (either cliff-based or linear) that determine exactly when they become available.

Low float refers to tokens with small circulating supplies relative to their fully diluted value (FDV). Tokenomist's "Released %" metric in the Token Unlocks table shows exactly what fraction of total supply is currently in circulation, making it straightforward to identify tokens where this mismatch creates price volatility risk as locked tokens unlock.

Market cap (market capitalization) is the total market value of a token's circulating supply, calculated as Current Price multiplied by Circulating Supply. It is the most widely used metric for comparing the relative size and valuation of crypto assets.

Market cap (circulating supply × price) measures a token's current tradeable value, while FDV (max supply × price) represents its theoretical value if all tokens were in circulation. The gap between them quantifies the dilution still ahead. A token trading at $1B market cap with $10B FDV has 90% of its supply yet to enter the market.

A market maker fee structure is the combination of ways a market making firm is compensated for quoting a token: a cash retainer, call options over loaned tokens, a share of exchange rebates, or some mix of the three. Understanding which components a quote contains is what makes two proposals comparable.

Market maker KPIs are the numeric obligations a market making agreement places on the firm: how tight the quoted spread must be, how much size must sit on each side of the book, and what proportion of the time those quotes must be live. They are what separates an enforceable agreement from a statement of intent.

Market maker uptime is the proportion of a measurement period during which a firm's quotes were live and simultaneously met the agreed spread and depth obligations. It is the KPI that turns the other two from instantaneous targets into a service level.

A market making agreement is the contract between a token issuer and a market making firm that defines what the firm must quote, on which venues, for how long, and on what commercial terms. It is the document that turns a verbal promise of liquidity into an obligation you can measure and enforce.

Max supply is the theoretical maximum number of tokens that will ever exist, the hard cap defined at the protocol level. It is used in the FDV formula (FDV = Price × Max Supply) and represents the ultimate upper bound of a token's total supply.

A discrete, cliff-style token release flagged for investor attention, the primary unit tracked in Tokenomist's Unlock Events table. These are high-impact events where large blocks of tokens become available simultaneously.

An on-chain claim is the transaction where a beneficiary withdraws unlocked tokens from a vesting contract to their wallet. Until claimed, unlocked tokens remain in the contract. The delay between unlock and claim reveals whether holders intend to sell, hold, or deploy their tokens elsewhere.

Order book depth is the total notional value of resting orders on each side of the book within a stated distance from the mid price. Depth is what determines how much size a participant can trade before the price moves against them, and it is only meaningful once that distance threshold is stated.

Protocol revenue is the fee income generated by a blockchain protocol, such as transaction fees, swap fees, or lending interest. Real yield occurs when this revenue is distributed to token holders, offsetting token inflation.

Raise amount is the total capital raised by a crypto project across all fundraising rounds, including seed, private, public, and strategic sales. On Tokenomist, it appears as a header stat on token detail pages and helps contextualize investor allocations and their potential sell pressure when vesting cliffs expire.

The percentage of supply that a specific unlock event or upcoming claim represents. For Whitepaper status tokens it is calculated against released supply; for Committed or Completed tokens it is calculated against tracked supply excluding burns.

Released Progress is the dual-bar visualization on Tokenomist's token detail page that shows both Unlocked Supply and Claimed Supply as percentages of total supply. It displays five supply states (Unlocked, Claimed, TBD Locked, Total Locked, and Untracked), providing an at-a-glance view of a token's distribution lifecycle.

Released supply is the total amount of tokens that are unlocked and claimable, including those still held in stakeholder wallets. Released supply is always greater than or equal to circulating supply because it counts tokens that insiders have earned but not yet sold.

Reported market cap is the standard market capitalization figure calculated by multiplying a token's current price by the circulating supply reported by external data providers like CoinGecko. It is the baseline valuation metric shown in the Fundamentals section of Tokenomist's token detail pages.

A retainer model market making deal pays the market making firm a fixed fee per period, usually monthly, to meet defined quoting obligations. The issuer keeps its tokens and grants no options, so the firm's compensation is tied to the service rather than to the token price.

A staking lockup is a period during which tokens are locked to participate in network validation or earn staking rewards. Locked tokens are removed from circulating supply and cannot be traded, reducing effective float and creating slashing risk for validators.

The downward price force created when a large quantity of previously illiquid tokens (vested, locked, or escrowed) enter circulation and are available for sale. Supply pressure occurs when new token supply outpaces demand, forcing prices down as sellers flood the market.

Supply states are the three categories Tokenomist uses to classify a token's total supply: Released (unlocked and accessible), Unreleased (still in vesting with a predetermined release date), and Untracked (supply that cannot be on-chain verified or categorized). This breakdown is visible in the tooltip when hovering over the Released Progress bar on token detail pages.

TBD locked supply consists of tokens locked without a determined release date, often held in a treasury or reserve pending a future event such as a governance vote or operational milestone. These tokens represent the most unpredictable source of future dilution.

Token allocation is the division of a protocol's total supply among six standardized categories defined by Tokenomist: Founder/Team, Private Investors, Public Investors, Reserved, Community, and Other. The allocation ratios and vesting schedules attached to each category determine unlock risk, dilution trajectory, and who controls future supply.

Token burns permanently remove tokens from circulating supply, directly reducing dilution pressure on remaining holders. Tokenomist classifies every burn event along two dimensions: Type (Programmatic vs Non-Programmatic) and Reason (Governance, Protocol Design, or Project Decision), enabling apples-to-apples comparison across projects.

Token buybacks are how protocols use revenue to offset sell pressure, converting earnings back into demand for the native token. Tokenomist classifies every buyback event along three dimensions: Type (Buyback & Burn vs Treasury Buyback), Source (Revenue, Treasury, Protocol Fees, or External Funding), and Precision (On-chain Exact, Reported, or Estimated), so you can distinguish verified, sustainable programs from marketing announcements.

Token dilution reduces each existing holder's proportional share of a protocol's value when new tokens enter circulation via unlocks, emissions, or airdrops. The severity depends on the rate of new supply relative to demand growth: a 10% annual emission with 5% demand growth means holders face roughly 5% real dilution.

A token emission schedule defines the net change in released supply over a period, calculated as Inflation minus Deflation. This net figure determines actual dilution pressure, not gross token creation alone. Tokenomist tracks historical emissions from TGE to today (including both inflation and deflation) while future projections model only known cliff and linear unlock schedules, explicitly excluding burns because they are unpredictable.

Token float is the ratio of circulating (freely tradeable) supply to total or max supply. A low float means a small portion of tokens is available for trading, making the price more sensitive to large buy or sell orders, and more vulnerable to sharp moves when locked tokens unlock.

A Token Generation Event (TGE) is the moment when a protocol's governance or utility token is created, publicly distributed, and begins trading. TGE marks the official start of the token's lifecycle, including cliff timers for vesting allocations and the beginning of supply mechanics (staking, mining, emission schedules).

Token inflation is the net increase in circulating supply over time, calculated on Tokenomist as Emission = Inflation - Deflation. Inflation sources include staking rewards, liquidity mining incentives, and scheduled vesting unlocks; deflation sources include burns and buybacks. The net emission rate determines the real supply pressure token holders face.

A chronological tracker of upcoming token supply releases, showing when vested, locked, or escrowed tokens become liquid and available for trading. Unlock calendars identify high-impact dates when supply pressure may accelerate or decline, enabling investors to anticipate price volatility and plan position management.

Token vesting is a time-based release mechanism that gradually unlocks tokens held by team members, investors, and other stakeholders over a predetermined schedule. Rather than receiving all tokens at once, vesting prevents rapid token dumping and aligns long-term incentives.

Top-of-book spread is the difference between the highest bid and the lowest ask on an order book at a given moment, usually expressed in basis points of the mid price. It is the most direct measure of what it costs a participant to trade immediately in both directions.

Total supply is the number of tokens that currently exist: all tokens that have been minted minus any tokens that have been permanently burned. It is the universal denominator for allocation percentages and the base for Tokenomist's Released Progress bar.

Treasury vesting is the controlled release of tokens held by a protocol treasury over time, typically through governance-approved programs. Tokenomist classifies tokens allocated to treasuries but without determined release dates as TBD Locked: either Event-Gated (triggered by governance votes or milestones) or Operational (deployed at the team's discretion), capturing the uncertainty inherent in treasury releases.

Unlocked supply is the total number of tokens that have cleared their vesting or lock period and are available for withdrawal. It includes tokens still held in vesting contracts that haven't been claimed yet, making it always greater than or equal to claimed supply.

An upcoming claim is a token release that is scheduled or announced but not yet confirmed on-chain. In Tokenomist's Supply Analytics Claim widget, the "Upcoming" tab aggregates both Whitepaper-status and Committed-status claims, providing a forward-looking view of anticipated supply changes.

A filter preset in Tokenomist's Unlock Events tab that shows standard scheduled unlocks while excluding mining and yield farming rewards, focusing on core team, investor, and ecosystem vesting events that are the primary driver of structured supply expansion.

A vesting schedule is the predefined timeline that governs when allocated tokens become available to their beneficiaries. It typically combines cliff periods (where no tokens release) with linear or stepped release phases, and each stakeholder group (team, investors, ecosystem) usually has its own distinct schedule.

A tokenomics model where token holders lock their assets for a fixed period to receive voting power (veTokens) that grant governance rights and fee-sharing rewards. The longer the lock-up period, the more voting power an address receives, aligning incentives between governance participation and long-term token holding.

The whitepaper schedule is the original token unlock timetable as documented in a project's whitepaper or tokenomics documentation. It serves as the baseline estimate before any team announcements or on-chain deviations, and is the first stage of Tokenomist's claim lifecycle.