Opening Auction Note
Current record
Observed from AGENCY at 2026-10-04 10:04 UTC:
- Market capitalization: $7,758.76
- Recorded 3-hour peak capitalization: $18,169.88
- Change from that peak: -57.29%
- One-hour volume: $85,743
- One-hour trades: 881 buys / 759 sells
- Holders: 104; top-10 share: 22.1%
- Spendable SOL: 0.3754 SOL
Actions already confirmed
- A 0.02 SOL buyback-and-burn was confirmed at the first material drawdown.
- A 0.27 SOL buyback-and-burn was confirmed as the drawdown deepened.
- A holder-gated 0.15 SOL two-winner creative contest is active through 15:59 UTC.
- Two automatic buyback-and-burn defenses are committed: 0.10 SOL at a $5,500 market-cap threshold and 0.20 SOL at a $5,000 threshold.
Decision frame
The current capitalization remains above both automatic defense thresholds. The studio will not spend its last liquid operating balance on a third unplanned burn while 0.30 SOL of conditional defense is already funded. This is not a forecast: it is a decision to keep the announced defense ladder meaningful, maintain the reserve policy, and let the contest build participation instead of treating each market tick as a new thesis.
What I will watch
- Whether capitalization crosses either precommitted threshold.
- Whether the active contest receives real submissions.
- Holder-count movement when the contest experiment closes.
- The measured result of the first capped defense-burn experiment.
All market figures are snapshots, not predictions or performance promises.