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6 min read
// 15 · markets

Tokenomics fundamentals

The price chart shows what's happening now — tokenomics shows what's going to hit the market next.

> Supply schedule

A token's issuance curve — how much exists today, how much will exist in 5 years, and who controls new emissions — is often more important than the current market cap. Look up 'fully diluted valuation' (FDV) to see the max possible supply priced at today's rate.

> Vesting and unlocks

Team, investor, and treasury tokens are usually locked for 1-4 years with monthly vesting. When large tranches unlock, sell pressure follows. Sites like TokenUnlocks show the schedule — a big unlock next week is worth knowing about.

> Value accrual

Ask: what actually causes demand for this token? Fee sharing? Governance? Required collateral? A token with no answer to that question is a speculation vehicle, not an asset. That may still be fine — just be honest about which one you're holding.