Every KRC-20 token and KRC-721 collection on this site gets a single A–F Launch-Quality grade. It's a transparent, on-chain read of one question: is this launch fairly distributed and widely held, or concentrated in a few wallets? Here is the exact model — the same one behind every grade, badge, report and leaderboard on the site. Real on-chain data only; it lowers rug risk, it doesn't guarantee safety. Not financial advice.
score = round( Fairness×0.45 + Adoption×0.35 + Liquidity×0.20 )
How evenly supply is distributed — the core anti-rug signal. Starts at 100 and loses points for concentration.
Measured on KRC-20: % of CIRCULATING supply. KRC-721: % of MINTED items.
−1.6 pts per point above 5%−0.7 pts per point above 25%−2.2 pts per point above 3%−2.0 pts per % pre-minted−2 pts per holder below 25Clamped to 0–100.
How many people actually hold it — real reach, on a logarithmic curve (each 10× of holders adds roughly the same points).
Measured on Holder count (+ a small bonus for positive 24h holder growth).
clamp((log10(holders) − 0.5) / 4.3 × 100)clamp((log10(holders) − 0.6) / 2.4 × 100)+ up to 8 pts (log-scaled)Clamped to 0–100.
Whether it actually trades — marketplace depth. The lightest pillar, because a fair, well-held launch can be brand-new with little volume yet.
Measured on KRC-20: marketplace USD volume and cumulative trade count (whichever is stronger). KRC-721: 24h volume and total volume in KAS.
clamp((log10(volumeUsd) − 1) / 5 × 100)clamp((log10(trades) − 1) / 4 × 100)max(volume score, trades score)Clamped to 0–100.
Alongside the score, every report states a plain-language concentration level from the same holder data. KRC-20: share of circulating supply. KRC-721: share of minted items.
How is the Kaspa fair-launch grade calculated?
Every KRC-20 token and KRC-721 collection gets a 0–100 score blended from three pillars — Fairness (45%), Adoption (35%) and Liquidity (20%) — then mapped to a letter: A ≥85, B ≥70, C ≥55, D ≥40, F below 40. Fairness starts at 100 and loses points for supply concentration (top wallet, top-5, deployer holdings, pre-mint) and a tiny holder base; Adoption scores holder count on a log curve; Liquidity scores marketplace volume and trades.
What makes a KRC-20 launch score an F?
Concentration is the biggest driver: a single wallet or the deployer holding a large share of supply, a heavy pre-mint before public minting opened, or only a handful of holders. A launch can also grade low simply for being brand-new with almost no holders yet — that's 'unproven', not necessarily a scam. Read the three pillars, not just the letter.
Does a good grade mean a token is safe to buy?
No. The grade measures how fairly supply is distributed and how widely it's held and traded — it lowers rug risk, it does not guarantee safety or endorse an investment. It can't see code, team identity, or off-chain intent. Always do your own research; this is not financial advice.
Is the same model used everywhere on the site?
Yes. One shared scoring function grades the in-app drawer, the embeddable badge, the /t/ and /n/ report pages, the /wave and /nftwave leaderboards, the /holders concentration read, the /vs head-to-heads, and the /grade & /ngrade APIs — so a grade can never disagree with itself across surfaces.
Why do KRC-20 and KRC-721 grade slightly differently?
They share the exact same Fairness model. The Adoption and Liquidity curves are recalibrated for the KRC-721 world, which typically has smaller holder bases and different marketplace volume than KRC-20 tokens.