{
  "generatedAt": "2026-10-12T15:23:49.685Z",
  "version": 3,
  "model": "virtual constant-product bonding curve",
  "parameters": {
    "totalSupply": 1000000,
    "nftTokens": 500000,
    "initialPoolTokens": 500000,
    "initialVirtualTokens": 1000000,
    "openingPrice": 0.00002,
    "feeRate": 0.01,
    "activationTokens": 200
  },
  "stages": [
    {
      "count": 333,
      "priceETH": 0.01,
      "tokens": 350
    },
    {
      "count": 334,
      "priceETH": 0.02,
      "tokens": 500
    },
    {
      "count": 333,
      "priceETH": 0.03,
      "tokens": 650
    }
  ],
  "initial": {
    "config": {
      "totalSupply": 1000000,
      "nftTokens": 500000,
      "initialPoolTokens": 500000,
      "initialVirtualTokens": 1000000,
      "openingPrice": 0.00002,
      "feeRate": 0.01,
      "activationTokens": 200
    },
    "initialVirtualETH": 20,
    "virtualK": 20000000,
    "virtualTokenReserve": 1000000,
    "virtualETHReserve": 20,
    "netTokensSold": 0,
    "price": 0.00002,
    "poolTokens": 500000,
    "poolETH": 0,
    "nftVaultTokens": 500000,
    "walletTokens": 0,
    "burnedTokens": 0,
    "feeTokens": 0,
    "feeETH": 0,
    "buyerETHSpent": 0,
    "sellerETHReceived": 0,
    "nftTokensReleased": 0
  },
  "openingActivation200": {
    "feasible": true,
    "tokenOut": 200,
    "ethIn": 0.004041212282860612,
    "feeETH": 0.00004041212282860588,
    "priceImpactPct": 0.02000400080015563,
    "afterPrice": 0.00002000800240064016
  },
  "milestones": [
    {
      "tokens": 0,
      "allocationSoldShare": 0,
      "price": 0.00002,
      "priceMultiple": 1,
      "realETH": 0,
      "grossETH": 0,
      "audit": {
        "tokenError": 0,
        "ethError": 0,
        "accountedTokens": 1000000,
        "accountedETH": 0
      }
    },
    {
      "tokens": 50000,
      "allocationSoldShare": 0.1,
      "price": 0.000022160664819944597,
      "priceMultiple": 1.1080332409972298,
      "realETH": 1.05263157894737,
      "grossETH": 1.063264221158958,
      "audit": {
        "tokenError": 0,
        "ethError": 1.5543122344752192e-15,
        "accountedTokens": 1000000,
        "accountedETH": 1.0632642211589596
      }
    },
    {
      "tokens": 100000,
      "allocationSoldShare": 0.2,
      "price": 0.000024691358024691357,
      "priceMultiple": 1.2345679012345678,
      "realETH": 2.2222222222222214,
      "grossETH": 2.244668911335578,
      "audit": {
        "tokenError": 0,
        "ethError": -8.881784197001252e-16,
        "accountedTokens": 1000000,
        "accountedETH": 2.244668911335577
      }
    },
    {
      "tokens": 250000,
      "allocationSoldShare": 0.5,
      "price": 0.00003555555555555555,
      "priceMultiple": 1.7777777777777775,
      "realETH": 6.666666666666668,
      "grossETH": 6.734006734006734,
      "audit": {
        "tokenError": 0,
        "ethError": 8.881784197001252e-16,
        "accountedTokens": 1000000,
        "accountedETH": 6.734006734006735
      }
    },
    {
      "tokens": 500000,
      "allocationSoldShare": 1,
      "price": 0.00008,
      "priceMultiple": 4,
      "realETH": 20,
      "grossETH": 20.2020202020202,
      "audit": {
        "tokenError": 0,
        "ethError": 0,
        "accountedTokens": 1000000,
        "accountedETH": 20.2020202020202
      }
    }
  ],
  "scenarios": [
    {
      "buyerETH": 0,
      "buy": {
        "kind": "buy",
        "requestedETH": 0,
        "spentETH": 0,
        "unspentETH": 0,
        "tokenOut": 0,
        "feeETH": 0,
        "partial": false,
        "reason": null
      },
      "afterBuy": {
        "config": {
          "totalSupply": 1000000,
          "nftTokens": 500000,
          "initialPoolTokens": 500000,
          "initialVirtualTokens": 1000000,
          "openingPrice": 0.00002,
          "feeRate": 0.01,
          "activationTokens": 200
        },
        "initialVirtualETH": 20,
        "virtualK": 20000000,
        "virtualTokenReserve": 1000000,
        "virtualETHReserve": 20,
        "netTokensSold": 0,
        "price": 0.00002,
        "poolTokens": 500000,
        "poolETH": 0,
        "nftVaultTokens": 500000,
        "walletTokens": 0,
        "burnedTokens": 0,
        "feeTokens": 0,
        "feeETH": 0,
        "buyerETHSpent": 0,
        "sellerETHReceived": 0,
        "nftTokensReleased": 0
      },
      "activation200": {
        "feasible": true,
        "tokenOut": 200,
        "ethIn": 0.004041212282860612,
        "feeETH": 0.00004041212282860588,
        "priceImpactPct": 0.02000400080015563,
        "afterPrice": 0.00002000800240064016
      },
      "nftStressSale": {
        "kind": "sell",
        "requestedTokens": 100000,
        "filledTokens": 0,
        "unfilledTokens": 100000,
        "ethOut": 0,
        "feeTokens": 0,
        "partial": true,
        "reason": "Real ETH backing exhausted; virtual ETH is not redeemable. Remaining tokens are unfilled."
      },
      "audit": {
        "tokenError": 0,
        "ethError": 0,
        "accountedTokens": 1000000,
        "accountedETH": 0
      }
    },
    {
      "buyerETH": 0.25,
      "buy": {
        "kind": "buy",
        "requestedETH": 0.25,
        "spentETH": 0.25,
        "unspentETH": 0,
        "tokenOut": 12223.731324854922,
        "feeETH": 0.0025000000000000022,
        "partial": false,
        "reason": null
      },
      "afterBuy": {
        "config": {
          "totalSupply": 1000000,
          "nftTokens": 500000,
          "initialPoolTokens": 500000,
          "initialVirtualTokens": 1000000,
          "openingPrice": 0.00002,
          "feeRate": 0.01,
          "activationTokens": 200
        },
        "initialVirtualETH": 20,
        "virtualK": 20000000,
        "virtualTokenReserve": 987776.2686751451,
        "virtualETHReserve": 20.2475,
        "netTokensSold": 12223.731324854922,
        "price": 0.0000204980628125,
        "poolTokens": 487776.26867514505,
        "poolETH": 0.24749999999999872,
        "nftVaultTokens": 500000,
        "walletTokens": 12223.731324854922,
        "burnedTokens": 0,
        "feeTokens": 0,
        "feeETH": 0.0025000000000000022,
        "buyerETHSpent": 0.25,
        "sellerETHReceived": 0,
        "nftTokensReleased": 0
      },
      "activation200": {
        "feasible": true,
        "tokenOut": 200,
        "ethIn": 0.004141861413793798,
        "feeETH": 0.000041418614137938084,
        "priceImpactPct": 0.020251600442788842,
        "afterPrice": 0.00002050636602474016
      },
      "nftStressSale": {
        "kind": "sell",
        "requestedTokens": 100000,
        "filledTokens": 12347.203358439316,
        "unfilledTokens": 87652.79664156068,
        "ethOut": 0.24749999999999872,
        "feeTokens": 123.47203358439316,
        "partial": true,
        "reason": "Real ETH backing exhausted; virtual ETH is not redeemable. Remaining tokens are unfilled."
      },
      "audit": {
        "tokenError": 0,
        "ethError": -1.27675647831893e-15,
        "accountedTokens": 1000000,
        "accountedETH": 0.24999999999999872
      }
    },
    {
      "buyerETH": 0.5,
      "buy": {
        "kind": "buy",
        "requestedETH": 0.5,
        "spentETH": 0.5,
        "unspentETH": 0,
        "tokenOut": 24152.232251768724,
        "feeETH": 0.0050000000000000044,
        "partial": false,
        "reason": null
      },
      "afterBuy": {
        "config": {
          "totalSupply": 1000000,
          "nftTokens": 500000,
          "initialPoolTokens": 500000,
          "initialVirtualTokens": 1000000,
          "openingPrice": 0.00002,
          "feeRate": 0.01,
          "activationTokens": 200
        },
        "initialVirtualETH": 20,
        "virtualK": 20000000,
        "virtualTokenReserve": 975847.7677482313,
        "virtualETHReserve": 20.495,
        "netTokensSold": 24152.232251768724,
        "price": 0.00002100225125,
        "poolTokens": 475847.7677482313,
        "poolETH": 0.495000000000001,
        "nftVaultTokens": 500000,
        "walletTokens": 24152.232251768724,
        "burnedTokens": 0,
        "feeTokens": 0,
        "feeETH": 0.0050000000000000044,
        "buyerETHSpent": 0.5,
        "sellerETHReceived": 0,
        "nftTokensReleased": 0
      },
      "activation200": {
        "feasible": true,
        "tokenOut": 200,
        "ethIn": 0.004243748796719927,
        "feeETH": 0.00004243748796719897,
        "priceImpactPct": 0.020499201311308113,
        "afterPrice": 0.000021010862720078123
      },
      "nftStressSale": {
        "kind": "sell",
        "requestedTokens": 100000,
        "filledTokens": 24396.19419370578,
        "unfilledTokens": 75603.80580629421,
        "ethOut": 0.495000000000001,
        "feeTokens": 243.96194193705782,
        "partial": true,
        "reason": "Real ETH backing exhausted; virtual ETH is not redeemable. Remaining tokens are unfilled."
      },
      "audit": {
        "tokenError": 0,
        "ethError": 9.992007221626409e-16,
        "accountedTokens": 1000000,
        "accountedETH": 0.500000000000001
      }
    },
    {
      "buyerETH": 1,
      "buy": {
        "kind": "buy",
        "requestedETH": 1,
        "spentETH": 1,
        "unspentETH": 0,
        "tokenOut": 47165.31681753216,
        "feeETH": 0.010000000000000009,
        "partial": false,
        "reason": null
      },
      "afterBuy": {
        "config": {
          "totalSupply": 1000000,
          "nftTokens": 500000,
          "initialPoolTokens": 500000,
          "initialVirtualTokens": 1000000,
          "openingPrice": 0.00002,
          "feeRate": 0.01,
          "activationTokens": 200
        },
        "initialVirtualETH": 20,
        "virtualK": 20000000,
        "virtualTokenReserve": 952834.6831824678,
        "virtualETHReserve": 20.990000000000002,
        "netTokensSold": 47165.31681753216,
        "price": 0.000022029005,
        "poolTokens": 452834.6831824678,
        "poolETH": 0.990000000000002,
        "nftVaultTokens": 500000,
        "walletTokens": 47165.31681753216,
        "burnedTokens": 0,
        "feeTokens": 0,
        "feeETH": 0.010000000000000009,
        "buyerETHSpent": 1,
        "sellerETHReceived": 0,
        "nftTokensReleased": 0
      },
      "activation200": {
        "feasible": true,
        "tokenOut": 200,
        "ethIn": 0.004451238355334825,
        "feeETH": 0.00004451238355334796,
        "priceImpactPct": 0.02099440672598263,
        "afterPrice": 0.000022038255688776458
      },
      "nftStressSale": {
        "kind": "sell",
        "requestedTokens": 100000,
        "filledTokens": 47641.7341591234,
        "unfilledTokens": 52358.2658408766,
        "ethOut": 0.990000000000002,
        "feeTokens": 476.417341591234,
        "partial": true,
        "reason": "Real ETH backing exhausted; virtual ETH is not redeemable. Remaining tokens are unfilled."
      },
      "audit": {
        "tokenError": 0,
        "ethError": 1.9984014443252818e-15,
        "accountedTokens": 1000000,
        "accountedETH": 1.000000000000002
      }
    },
    {
      "buyerETH": 5,
      "buy": {
        "kind": "buy",
        "requestedETH": 5,
        "spentETH": 5,
        "unspentETH": 0,
        "tokenOut": 198396.79358717435,
        "feeETH": 0.04999999999999982,
        "partial": false,
        "reason": null
      },
      "afterBuy": {
        "config": {
          "totalSupply": 1000000,
          "nftTokens": 500000,
          "initialPoolTokens": 500000,
          "initialVirtualTokens": 1000000,
          "openingPrice": 0.00002,
          "feeRate": 0.01,
          "activationTokens": 200
        },
        "initialVirtualETH": 20,
        "virtualK": 20000000,
        "virtualTokenReserve": 801603.2064128256,
        "virtualETHReserve": 24.950000000000003,
        "netTokensSold": 198396.79358717435,
        "price": 0.000031125125,
        "poolTokens": 301603.2064128256,
        "poolETH": 4.950000000000003,
        "nftVaultTokens": 500000,
        "walletTokens": 198396.79358717435,
        "burnedTokens": 0,
        "feeTokens": 0,
        "feeETH": 0.04999999999999982,
        "buyerETHSpent": 5,
        "sellerETHReceived": 0,
        "nftTokensReleased": 0
      },
      "activation200": {
        "feasible": true,
        "tokenOut": 200,
        "ethIn": 0.006289473263983405,
        "feeETH": 0.00006289473263983419,
        "priceImpactPct": 0.024956226578520813,
        "afterPrice": 0.00003114066225194972
      },
      "nftStressSale": {
        "kind": "sell",
        "requestedTokens": 100000,
        "filledTokens": 100000,
        "unfilledTokens": 0,
        "ethOut": 2.7426617875794683,
        "feeTokens": 1000,
        "partial": false,
        "reason": null
      },
      "audit": {
        "tokenError": 0,
        "ethError": 2.6645352591003757e-15,
        "accountedTokens": 1000000,
        "accountedETH": 5.000000000000003
      }
    },
    {
      "buyerETH": 21,
      "buy": {
        "kind": "buy",
        "requestedETH": 21,
        "spentETH": 20.2020202020202,
        "unspentETH": 0.7979797979797993,
        "tokenOut": 500000,
        "feeETH": 0.20202020202020066,
        "partial": true,
        "reason": "Real curve inventory exhausted. Buying pauses until tokens return; graduation is not modeled."
      },
      "afterBuy": {
        "config": {
          "totalSupply": 1000000,
          "nftTokens": 500000,
          "initialPoolTokens": 500000,
          "initialVirtualTokens": 1000000,
          "openingPrice": 0.00002,
          "feeRate": 0.01,
          "activationTokens": 200
        },
        "initialVirtualETH": 20,
        "virtualK": 20000000,
        "virtualTokenReserve": 500000,
        "virtualETHReserve": 40,
        "netTokensSold": 500000,
        "price": 0.00008,
        "poolTokens": 0,
        "poolETH": 20,
        "nftVaultTokens": 500000,
        "walletTokens": 500000,
        "burnedTokens": 0,
        "feeTokens": 0,
        "feeETH": 0.20202020202020066,
        "buyerETHSpent": 20.2020202020202,
        "sellerETHReceived": 0,
        "nftTokensReleased": 0
      },
      "activation200": {
        "feasible": false,
        "tokenOut": 200,
        "ethIn": null,
        "feeETH": null,
        "priceImpactPct": null,
        "reason": "Requested tokens exceed the curve’s real remaining inventory."
      },
      "nftStressSale": {
        "kind": "sell",
        "requestedTokens": 100000,
        "filledTokens": 100000,
        "unfilledTokens": 0,
        "ethOut": 6.611018363939898,
        "feeTokens": 1000,
        "partial": false,
        "reason": null
      },
      "audit": {
        "tokenError": 0,
        "ethError": 0,
        "accountedTokens": 1000000,
        "accountedETH": 20.2020202020202
      }
    }
  ],
  "scope": "Research quotes and asset conservation only. NFT mint cashflows, timed vesting, treasury deployment, fee routing and stock distributions are not included in the curve simulation. The site separately previews mint/activation/vesting against a demo wallet.",
  "assumptions": [
    "Real fixed supply:500000 curve tokens and500000 NFT tokens. No extra token allocation.",
    "Virtual pricing parameters are mathematical offsets, not additional tokens or spendable ETH.",
    "Actual ETH starts at zero; buyers fund sale backing. Fees are segregated by input asset.",
    "Opening price0.00002 ETH/token, virtual token parameter1m, fee1% are illustrative inputs, not calibrated optimal values.",
    "At the opening price boundary there is no real ETH bid. Excess sell requests partially fill, with no redemption of virtual ETH.",
    "This calculator allows all500k curve tokens to sell. Buying then pauses until tokens return. Automatic DEX graduation is not implemented.",
    "A Pump-like graduation needs an explicit remaining-token and actual-ETH migration budget before launch; selling every curve token leaves none to pair with ETH.",
    "Decimal research arithmetic is not settlement code. Contracts, gas, provider routing, MEV and execution remain unverified."
  ]
}