Initial Market Cap is how PolitiCap sets the opening price and Politi Market Cap when a ticker is made tradeable (admin IPO). The formula is mechanical, published, and versioned so the desk can improve it without mystery.
Current formula version: mcap-1.5 (2026-08-24). Norm unit: TRUMPD = R = 1.
Virtual DutchBud (DBB) only. Not a real-money security. Not investment advice. Same rules for every listing.
What gets set at IPO
- Outstanding shares: 1 000 000 (fixed)
- Open = last = prev close:
10.00 × RDutchB - Politi Market Cap:
open × outstanding - Float for sale: 20% · retained: 80% (product default)
- Tradeable: yes — the tape can print
New listings start not tradeable until an admin runs IPO on the ticker page. Existing live names stay tradeable unless the desk re-rates them.
The score R
Every IPO computes a unitless score R relative to Trump:
R = 1.00→ open Ƀ10.00 → mcap Ƀ10 000 000 (TRUMPD norm)R = 0.50→ open Ƀ5.00 → mcap Ƀ5 000 000R = 0.30→ open Ƀ3.00 → mcap Ƀ3 000 000
Two tracks: politician (elected / appointed office) and TECH (business political capital — CEOs, founders, industrial geopolitics).
Track A — Politicians (mcap-1.5)
R = clamp(C × J × O × P × F × M × I, 0.05, 1.15)
| Factor | Meaning | Highlights |
|---|---|---|
| C Country scale | Soft size of the polity | (pop/US)^0.35 in [0.20, 1.00] |
| J Jurisdiction | National / regional / city / local | 1.00 / 0.40 / 0.18 / 0.08 |
| O Office rank | Head of gov → council | HoG 1.00 · cabinet 0.40 · MP 0.22 · mayor 0.65 · … |
| P Party weight | Last relevant election vote share | sqrt(share/0.50) in [0.30, 1.20]; unknown 0.40 |
| F Party face | How much they are the party brand | primary 1.00 · top3 0.65 · senior 0.45 · member 0.25 |
| M Mandate | Personal / list strength | Unknown defaults to 0.75 |
| I Incumbency | Sitting / elect / candidate / former | 1.00 / 0.95 / 0.70 / 0.60 |
Dual-IPO anchors (e.g. XIJINP) may be forced to R = 1 by product rule.
Track B — TECH / political capital (mcap-1.5)
Officeholders and technologists are not the same animal. Party vote share does not apply. Country population must not silently rank a Chinese industrial figure above a US platform owner.
R = clamp(B × L × K, 0.05, 0.60)
| Factor | Meaning | Values |
|---|---|---|
| B Capital band | Primary dial | global_apex 0.50 · global_major 0.30 · national_major 0.18 · sector 0.10 · niche 0.05 |
| L Lever | Optional modifier | platform 1.15 · state_champion 1.10 · dual_use 1.05 · standard 1.00 · soft 0.90 |
| K Contested attention | Optional | Default 1.00; clamp 0.85–1.15 — use sparingly |
TECH ceiling R ≤ 0.60 (open ≤ Ƀ6) so the track cannot quietly approach Trump without a conscious dual-anchor decision.
Illustrative TECH opens (band × lever, K=1)
| Example | Band | Lever | R | Open | MCap |
|---|---|---|---|---|---|
| MUSKE Elon Musk | global_apex | platform | 0.575 | Ƀ5.75 | Ƀ5.75M |
| Mark Zuckerberg (example) | global_apex | platform | 0.575 | Ƀ5.75 | Ƀ5.75M |
| Jeff Bezos (example) | global_apex | soft | 0.450 | Ƀ4.50 | Ƀ4.50M |
| MENGW Meng Wanzhou | global_major | state_champion | 0.330 | Ƀ3.30 | Ƀ3.30M |
| Sam Altman (example) | global_major | dual_use | 0.315 | Ƀ3.15 | Ƀ3.15M |
| Larry Ellison (example) | global_major | standard | 0.300 | Ƀ3.00 | Ƀ3.00M |
Band-only (lever = standard) reproduces the earlier ballpark anchors: apex → Ƀ5 / 5M, major → Ƀ3 / 3M.
How the desk runs it
- Open the ticker page while logged in as desk/admin.
- Press IPO — the API previews factors (inferred from office title + country, editable).
- For TECH listings, set capital band and optional lever.
- Agree & make tradeable — prices and tradeable flag commit; no interest book at this stage.
What this is not
- Not a real equity valuation or wealth ranking.
- Not a poll. Crowd trading moves the tape after IPO.
- Not silent: factors and version are stored on the ticker at IPO time.
Formula changelog
| Version | Date | Notes |
|---|---|---|
| mcap-1.5 | 2026-08-24 | Current. TECH branch (B×L×K); politician path unchanged from mcap-v1; TECH R max 0.60. |
| mcap-v1 | 2026-08-24 | Initial TRUMPD-normalized politician product C×J×O×P×F×M×I. |
When the formula changes, this page gets a new version row and the API constant mcap.Version bumps. Older IPOs keep the version string stored at confirm time.
Product rules: PolitiCap desk. Implementation: politicap-api internal/mcap.
