Token Supply, Vesting and Unlock Schedules
Token supply analysis distinguishes minted, circulating, locked and potentially issuable units under explicit definitions. Vesting describes when an allocation can become transferable; an unlock is not automatically a sale.
How it works
Read allocation contracts and legal or project documentation, identify beneficiaries, cliffs, linear release rules and administrative override powers. “Circulating supply” can be a vendor estimate. Fully diluted valuation assumes a stated future or maximum supply and a current price, not that all units could be sold at that price.
Worked example
A token trades at 2 with 10 million units counted as circulating and 100 million stated maximum supply. The corresponding market-cap estimate is 20 million and a simple fully diluted figure is 200 million. A 2-million-unit unlock raises potentially transferable supply by 20% of the earlier circulating count, but does not tell you the amount actually sold.
Amounts, prices and scenarios are fictional teaching examples. They exclude any effects not explicitly stated and are not trade recommendations.
Limits and common mistakes
Mint authority, burns, staking locks, bridge representations and changed schedules complicate counts. The price itself can change with liquidity and demand. Do not count the same bridged backing twice or treat an announced schedule as immutable without checking controls.
Knowledge check
Does an unlock prove the beneficiary sold immediately?
Read the explanation
No. It makes units available under the applicable rules. Actual transfers, ownership and sales require additional evidence.
References and further reading
These sources explain the underlying concepts and specifications. They do not endorse QBMFX Academy. Check the relevant market, protocol version and reporting rules before applying an example.