Launching
Starting market cap
How the opening price is set, and what happens as people buy.
The whole supply starts inside the pool, and you choose the price it opens at. SpaceMint calls that the starting market cap: the opening price times the full supply.
Choosing it
The form offers presets (in dollars where the quote has a dollar price, otherwise in the quote itself) and a custom box. It shows what the first unit of the quote buys, and the fully diluted value you are opening at.
How the price moves
The position is single-sided: it holds only your token, from the opening price upward. The price can only climb from where it starts, as people buy, and it falls back down as they sell. Large buys move the price more than small ones.
For builders
The opening price is a Uniswap v4 tick, a multiple of 200. For an ETH pair with 18-decimal tokens, tick 184200 is about 1 ETH for 100M tokens, which is a 10 ETH market cap at 1B supply.