Den of Misfits · LP & NFT Tracker

D-Cap = the QU value of every token currently for sale across both venues — the tokens sitting in the QSwap pool (its asset reserve) plus the tokens resting on the QX ask book — multiplied by the blended QX+QSwap price we already track: It's a sell-side depth gauge — "how much of this token could I actually buy right now" — not a supply-based market cap (idle wallet holdings aren't counted). It moves with both price and how much is on offer, so it's a live read on tradable liquidity.

Fee bars are coloured by D-Cap tier (flat solid, from our palette): < 5B 5–50B 50–500B > 500B QU

Pool APY is the LP's annualized fee return. We take the trailing-90-day √k fee revenue, divide by 3 for a monthly figure (or use the latest month once three have accrued), multiply by 12, then divide by the current LP pool value (QAV): It measures how productively the QU sitting in the LP earns trading fees. It deliberately ignores token appreciation (that's tracked separately and never annualized). Until ~90 days of history accrue it reads low, then climbs toward the true rate.

Both come from the pool's fee income but measure different things. Pool APY divides the gross annual fees by the LP pool value (~1.26B QU) — how hard the LP capital works. Fee yield / NFT takes the NFT's share of those fees (80%, after the maintenance + reward-pool cut) and divides by the full treasury-backed value of an NFT — and the treasury (~5.48B QU) is about 4.3× the LP (it also holds wallet tokens, smart-contract shares and the QU bag). So Fee yield / NFT lands well below Pool APY (roughly 0.8 ÷ 4.3 of it). Neither is wrong: Pool APY = the LP's gross earning rate; Fee yield / NFT = what one NFT actually nets in fees against everything backing it.

The fee revenue one NFT is on track to earn in a year, in QU — the per-NFT monthly payout × 12. It's the NFT's 80% share of realized LP fees (after the maintenance + reward-pool cut), per circulating NFT. It does not include token appreciation (harvested on its own schedule). An estimate that firms up as fee history accrues and once real on-chain payouts begin.

The fee yield on a single NFT's backing: the net fees distributed to one NFT over a year ÷ that NFT's share of the treasury backing. It runs lower than Pool APY because NFTs receive 80% of fees (not the full 100%) and the backing is the whole treasury — larger than just the fee-earning LP pool. Fee-only (no appreciation), so it's real as soon as fees accrue — no waiting on the annualization window.

The DEN Treasury is everything backing the NFTs, valued in QU at current prices: the LP positions (both sides marked to the pool price = LP QAV), plus the project wallet's holdings — priced tokens (Token QAV), smart-contract shares (SC QAV) and the raw Qubic bag. Total ≈ 5.48B QU vs ≈ 1.26B in LP alone (~4.3×). Token/SC values use the blended QX + QSwap price; the QU side is the hard backing. The wallet re-prices every 6 hours.

Backing = the notional full treasury QAV (LP both-sides-at-mark + wallet tokens / SC / QU bag) ÷ circulating NFTs. "Current supply" uses the community NFTs in circulation today; "At cap (6,000)" and "At max (10,000)" divide today's treasury by those higher counts to show a dilution floor — conservative, because every new mint also adds capital that isn't counted here. Cash distribution stays at 0 until the raffle pot (M-BER → 1B) and the shared 390M dev/artist cap are funded — proceeds fund raffle + dev, then flow to LP by design. There is no distress-trigger payout.

It compares the QU actually at work in the LP against the QU required to back every circulating NFT at its mint value (team NFTs excluded). The big % is how far above (or below) that required level the treasury sits — a solvency read, not a profit number. Positive = the LP holds more than the minted NFTs' face value.

QSwap's own earned-fees view reads 0, so we derive fees from the constant-product invariant. For each pool we track k = reserveQU × reserveAsset; per LP share that's √k ÷ total liquidity. Between two snapshots, the growth in √k-per-share that isn't explained by adds or removes is fee income — price-neutral, so it can't be faked by deposits or price swings. Fees only start accruing from the 2nd snapshot after launch; we build forward, with no historical backfill.

Monthly fees = trailing-90-day √k fee revenue ÷ 3 (purely fees — token appreciation keeps compounding in the pool and is harvested separately). Of that, NFT holders receive 80% — the other 20% goes to the maintenance fee + reward pool. The NFT share is withdrawn from the LP and sent via QUTIL SendToMany; per-NFT = (NFT share) ÷ circulating NFTs. Until 90 days of history accrue the figure undercounts, then converges to the realized rate. Actual amounts vary with sell slippage, and the payout firms up once real on-chain payouts begin.

Separate from fees, but distributed the same way. When a pool climbs more than 45% above its harvest baseline, it skims 20% of the position — and of that skim, 80% goes to NFT holders, 5% to the leaderboard bonus pool, and 15% to maintenance (the same three buckets as the monthly fee payout) — then the pool re-baselines and must climb another +45% to harvest again. QSwap charges a flat 100k QU execution fee per pool operation (add / remove / swap), paid out of the maintenance slice. Figures shown are estimates and vary until the actual withdrawal and sell.

Every QU of actual on-chain NFT proceeds is split by a fixed proportion: ≈12.8% to the $QST airdrop, ≈5% to the dev/artist commission, ≈12.8% to the raffle giveaway, and the remainder (≈69%) seeds LP, whose fee revenue is distributed to NFT holders. Those rates come straight from the full mint-out plan — $QST 1B, dev 390M, raffle 1B out of 7.79B gross sales — so what's collected so far scales to those totals as the collection mints out. The airdrop / dev / raffle slices are set aside in the treasury (and netted out of the Qubic Bag) until they're paid. The live breakdown is in the NFT Sales Distribution section.

How many years of current earnings it would take an NFT to repay its mint cost — shown for M-BER (mint 1.42M QU), M-BUN (690K QU) and the Pool. It's mint cost ÷ annual earnings per NFT, so it shortens as fees and appreciation grow. The project's stated goal is roughly 15 years.

The Den's QAV-weighted share of every QSwap pool on the network — how much of all QSwap liquidity (including our deprecated pools) is ours. ~11.8% currently. It moves as our pools and the rest of QSwap grow or shrink relative to each other.

Power is scarcity-weighted holdings — a rarer collection counts for more power per NFT. The board ranks by paid-out first, then by Power. Markers show each wallet's % of the maximum possible holdings (50 M-BER / 10 M-BUN). 🏆 = season top-20, 💰 = lifetime top-100 paid (Season 0). Paid-out reads ≈0 until payouts begin.

The dashed reference line on each chart series (QAV, Share %, USD) is that metric's trailing 12-month average, so you can read the current value against its own recent baseline. We only have a few days of history so far, so it shows "(building x/12)" until a full year accrues. The "current vs 12-mo avg" cards under each chart show the same comparison numerically.