Two numbers describe every token's valuation and most people only look at one. Market cap prices what's trading today; fully diluted valuation prices everything that will ever exist. The gap between them is future supply — and every unlock moves tokens from one side to the other. This calculator makes that gap concrete: enter supply, price and an unlock rate, and see the dilution any holder is actually signing up for.
How do you use it?
Enter total supply, circulating supply today, and the token's price. Add the number of tokens entering circulation each month — from vesting, emissions or unlocks — and a horizon. Optionally enter your own holding. The tiles show market cap, fully diluted valuation, the ratio between them, circulating supply at 12 and 24 months, the percentage by which a share of the float shrinks over a year, and when supply is fully circulating. The chart plots circulating supply as a share of total; hover for the figures, or switch to the table. For a proper cliff-and-tranche schedule rather than a flat monthly rate, model it in the vesting calculator first and bring the monthly figures here.
What does the FDV-to-market-cap ratio tell you?
How much supply is still to come, relative to what trades. A ratio near 1 means almost everything is already circulating — future dilution is small. A ratio of 4 means three-quarters of supply is still locked: at today's price, the market is implicitly valuing four times the float that exists, and every unlock tests whether buyers at that valuation exist. Neither is good or bad on its own — a high ratio at launch with long, published vesting is normal (the norms); a high ratio with a fast unlock schedule is the setup for the "peak at launch, then bleed" pattern. The ratio is a question, and the unlock schedule is the answer.
How does dilution actually work?
Mechanically, not rhetorically. Your tokens are a fixed share of total supply forever — that never changes. What changes is your share of circulating supply: hold 1% of a float that doubles over a year, and you hold 0.5% of the float at the end of it, even though you sold nothing. Whether that matters depends on what circulating share represents in practice — governance weight, share of fee distributions, share of sellable supply — and on whether the newly circulating tokens are held or sold. The calculator holds price constant deliberately: it is not a price prediction, and the reason it exists is to separate the mechanical dilution (certain) from the price effect (unknowable). Anyone showing you a "post-unlock price" chart is doing the second thing and calling it the first.
Who should run these numbers?
Buyers, before buying: pull a token's total and circulating supply from its explorer page (how), the unlock schedule from its lock and vesting contracts (how to verify), and see the year ahead. Founders, before publishing tokenomics: if the 12-month dilution figure is one you'd be uncomfortable defending to a diligent buyer, the schedule needs stretching — on Arc, the audience will run this math with or without you (why). Treasuries and analysts, for emissions-based tokens: monthly emissions are exactly the input this tool takes.
FAQ
What's the difference between market cap and FDV? Market cap is circulating supply times price; fully diluted valuation is total (maximum) supply times price. The gap is tokens not yet circulating.
Does dilution reduce the number of tokens I hold? No — it reduces your share of circulating supply as locked tokens unlock. Your share of total supply is unchanged.
Does the calculator predict price after unlocks? No, deliberately. It holds price constant to show the mechanical dilution; price effects depend on who holds and sells the new supply, which nobody can compute.
Where do I find a token's circulating supply? On the explorer's token page minus tokens held in lock and vesting contracts; trackers publish circulating figures that projects submit. For an Arc token, the contract-reading guide shows where to look.
Is the tool free and private? Yes — it runs in your browser; nothing is stored or sent.
Publishing tokenomics buyers can verify? Put the schedule on-chain with Team Finance vesting and locks on Arc — flat fee paid in USDC.Open Team Finance →Sources: standard market-cap and fully-diluted-valuation definitions; Team Finance vesting and lock documentation (team.finance, Sept 2026); docs.arc.io.
Last verified: August 2026