Boss: Token master

What you get asked

1. A token trades at €2 with 200 million circulating out of 2 billion total. Which statement is right?

   Cap = €2 × 200M = €400M; FDV = €2 × 2B = €4B. The €3.6B gap is the iceberg below the waterline.

2. A protocol advertises a 'guaranteed' 25% yield paid in its own freshly minted token. Diagnosis?

   No payer means no yield, just the printer running. Terra's 20% 'guarantee' helped erase roughly $40 billion in a single week in 2022.

3. Boss round: match the danger to its definition

   Four traps from four units, all running the same act: perception engineered to separate you from your money.

4. ___ = token price × total supply, locked coins included.

   Fully diluted valuation prices the whole iceberg. It's the number to check before celebrating a 'cheap' market cap.

5. An NFT collection shows huge volume, but most trades bounce between three wallets. The floor is 2 ETH. What's real?

   Public data isn't honest data. Three wallets passing tokens around creates a chart, not a market, and a floor is only what a real buyer pays.

6. Final question, Token master: what single test cuts through tokenomics, NFTs and DAOs alike?

   Supply schedules, floor prices, governance votes: every unit asked the same thing. Who controls this, and whose money feeds it? Ask that everywhere, and you've earned the title. League 4 complete. 🐜

The rest of this unit

Token votes, treasury raids, and finding out who really holds the keys.

• Orgs run by tokens
• Attacking the vote
• Who does the work
• Who holds the keys