> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cooket.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# Economic model

> Canonical Cooket V3 supply, reserves, prices, and graduation values.

Cooket V3 uses the `endpoint-cp-v3` shifted constant-product model. All launch tokens have 18 decimals.

| Quantity                                 |                    Human-readable value |                     Base units |
| ---------------------------------------- | --------------------------------------: | -----------------------------: |
| Fixed supply                             |                    1,000,000,000 tokens | `1000000000000000000000000000` |
| Curve allocation                         |                      800,000,000 tokens |  `800000000000000000000000000` |
| Graduation/LP allocation                 |                      200,000,000 tokens |  `200000000000000000000000000` |
| Virtual token reserve                    | 1,066,666,666.666666666666666667 tokens | `1066666666666666666666666667` |
| Virtual native-USDC reserve              |                              2,415 USDC |       `2415000000000000000000` |
| Net graduation reserve                   |                              7,245 USDC |       `7245000000000000000000` |
| Exact empty-curve gross graduation input |           7,318.181818181818181818 USDC |       `7318181818181818181818` |

The initial spot price is `0.0000022640625` native USDC per token. The terminal spot price is `0.000036225` native USDC per token. Spot price is the curve's virtual native-USDC reserve divided by its virtual token reserve, rounded up in base-unit arithmetic.

Terminal fully diluted valuation is terminal price multiplied by the full 1 billion-token supply:

```text theme={null}
0.000036225 USDC/token × 1,000,000,000 tokens = 36,225 USDC
```

FDV is not the active curve reserve and not the graduation principal. At graduation, the net principal is 7,245 native USDC. The larger exact gross includes the curve trading fee.

See [Bonding curve](/docs/protocol/bonding-curve), [Fees and distribution](/docs/protocol/fees-and-distribution), and [Economic constants](/docs/reference/economic-constants).