{
  "source": "Kaspa Toccata Live — Launch-Quality grading model",
  "url": "https://kaspa.linkrra.com/methodology",
  "description": "The exact A–F fair-launch grading model used across the site (in-app grade, embed badge, /t & /n reports, /wave & /nftwave leaderboards, /grade & /ngrade APIs). Mirrors the shared scoring function; real on-chain data only, not financial advice.",
  "overall": {
    "formula": "score = round( Fairness×0.45 + Adoption×0.35 + Liquidity×0.20 )",
    "weights": {
      "fairness": 0.45,
      "adoption": 0.35,
      "liquidity": 0.2
    },
    "range": "0–100",
    "note": "Each pillar is scored 0–100, then blended by weight into one 0–100 score, mapped to a letter."
  },
  "gradeScale": [
    {
      "grade": "A",
      "minScore": 85,
      "label": "Fair & healthy",
      "meaning": "Broadly distributed, widely held, and actively traded."
    },
    {
      "grade": "B",
      "minScore": 70,
      "label": "Solid",
      "meaning": "Well held with only minor concentration or liquidity gaps."
    },
    {
      "grade": "C",
      "minScore": 55,
      "label": "Mixed",
      "meaning": "Some concentration or a thin holder base — read the pillars."
    },
    {
      "grade": "D",
      "minScore": 40,
      "label": "Weak",
      "meaning": "Notable concentration or very early/illiquid — caution."
    },
    {
      "grade": "F",
      "minScore": 0,
      "label": "High risk",
      "meaning": "Supply is concentrated or the base is tiny — treat with caution."
    }
  ],
  "pillars": [
    {
      "key": "fairness",
      "name": "Fairness",
      "weightPct": 45,
      "measures": "How evenly supply is distributed — the core anti-rug signal. Starts at 100 and loses points for concentration.",
      "basis": "KRC-20: % of CIRCULATING supply. KRC-721: % of MINTED items.",
      "rules": [
        {
          "condition": "Top wallet over 5%",
          "effect": "−1.6 pts per point above 5%",
          "rationale": "A single large holder can dump on everyone."
        },
        {
          "condition": "Top 5 wallets over 25%",
          "effect": "−0.7 pts per point above 25%",
          "rationale": "Coordinated concentration across a few wallets."
        },
        {
          "condition": "Deployer wallet over 3%",
          "effect": "−2.2 pts per point above 3%",
          "rationale": "Team-held supply is the classic rug lever — weighted hardest."
        },
        {
          "condition": "Pre-mint before public open",
          "effect": "−2.0 pts per % pre-minted",
          "rationale": "Supply minted before the public could is an unfair head start."
        },
        {
          "condition": "Fewer than 25 holders",
          "effect": "−2 pts per holder below 25",
          "rationale": "A tiny holder base isn't a real launch yet."
        }
      ]
    },
    {
      "key": "adoption",
      "name": "Adoption",
      "weightPct": 35,
      "measures": "How many people actually hold it — real reach, on a logarithmic curve (each 10× of holders adds roughly the same points).",
      "basis": "Holder count (+ a small bonus for positive 24h holder growth).",
      "rules": [
        {
          "condition": "KRC-20 holder curve",
          "effect": "clamp((log10(holders) − 0.5) / 4.3 × 100)",
          "rationale": "~3 holders scores near 0; a broad blue-chip base approaches 100."
        },
        {
          "condition": "KRC-721 holder curve",
          "effect": "clamp((log10(holders) − 0.6) / 2.4 × 100)",
          "rationale": "Recalibrated for the smaller typical NFT holder base."
        },
        {
          "condition": "Positive 24h holder growth",
          "effect": "+ up to 8 pts (log-scaled)",
          "rationale": "Rewards launches actively gaining holders right now."
        }
      ]
    },
    {
      "key": "liquidity",
      "name": "Liquidity",
      "weightPct": 20,
      "measures": "Whether it actually trades — marketplace depth. The lightest pillar, because a fair, well-held launch can be brand-new with little volume yet.",
      "basis": "KRC-20: marketplace USD volume and cumulative trade count (whichever is stronger). KRC-721: 24h volume and total volume in KAS.",
      "rules": [
        {
          "condition": "KRC-20 volume (USD)",
          "effect": "clamp((log10(volumeUsd) − 1) / 5 × 100)",
          "rationale": "Log-scaled marketplace turnover."
        },
        {
          "condition": "KRC-20 trades",
          "effect": "clamp((log10(trades) − 1) / 4 × 100)",
          "rationale": "Cumulative trade count as a depth proxy."
        },
        {
          "condition": "Score = the stronger of the two",
          "effect": "max(volume score, trades score)",
          "rationale": "Either real turnover OR many trades counts as liquidity."
        }
      ]
    }
  ],
  "concentrationRead": {
    "measures": "Alongside the score, every report states a plain-language concentration level from the same holder data.",
    "basis": "KRC-20: share of circulating supply. KRC-721: share of minted items.",
    "levels": [
      {
        "level": "Concentrated",
        "when": "Top wallet ≥ 40%, OR deployer ≥ 40%, OR fewer than 10 holders."
      },
      {
        "level": "Moderate",
        "when": "Top wallet ≥ 15%, OR top-5 ≥ 55%, OR deployer ≥ 10%, OR pre-mint ≥ 5%."
      },
      {
        "level": "Distributed",
        "when": "None of the above — broadly held."
      }
    ]
  },
  "limitations": [
    "Distribution ≠ intent. A fair spread lowers rug RISK; it does not prove the team is honest, or the reverse.",
    "It reads on-chain supply, holders and marketplace data — not code audits, team identity, or off-chain promises.",
    "New launches with few holders and little volume score low by design — low grade ≠ scam, it means early/unproven.",
    "Exchange, bridge, and contract wallets can look like 'whales'; the model can't always tell custody from concentration.",
    "Grades move as the chain does — a launch can earn a better grade as it distributes and trades.",
    "Real data only: when a source is momentarily down a pillar degrades gracefully rather than inventing a number."
  ],
  "disclaimer": "Distribution ≠ intent. Lowers rug risk, does not guarantee safety. Not financial advice — do your own research."
}