Max per wallet
When creating a coin, the creator sets the maximum percentage of total supply that a single wallet may hold before graduation. Available options: 1%, 2%, or 3%.
The Max per Wallet
- The limit applies to every wallet, including the deployer.
- A wallet may buy beyond the limit, but pays an additional 5% tax on the excess amount.
- The 5% tax is paid to the protocol. It is not burned.
- The limit is fixed at creation and enforced on-chain.
- The limit ends at graduation. On Project X there is no per-wallet limit.
How a wallet's holding is counted
The contracts count the larger of two numbers: what the wallet bought from the curve (net of what it sold back), and what it holds right now. Moving tokens to another wallet does not free room to buy again, and tokens received from someone else count too.
If tokens are burned with buy & burn, the supply that still exists shrinks, and the max shrinks with it: a 2% max is 2% of what exists.
Example. A coin with a 2% max. You hold 1.5% and buy another 1%. The first 0.5% brings you to the max at the normal price. The other 0.5% is over the max: you pay the curve price and the 1% trading fee, plus 5% of what that part costs, and that 5% goes to the protocol.
Why a tax, not a hard stop
A hard stop sounds stricter but protects less. Anyone determined to hold more simply opens another wallet; the only people a hard stop really blocks are honest buyers who misjudge an amount, and whose trade fails in the middle of a move.
A tax works the other way around:
- Concentration gets expensive. Every token past the max costs 5% more, on every buy, for as long as the coin is on its curve.
- No trade fails because of the rule. The buyer sees the cost before signing and decides.
- Splitting doesn't make it free. Each wallet has its own max, and wallets that look linked are mapped in the open. See Cluster visibility.
- The cost funds the rules. The tax goes to the protocol that maintains and enforces them.