SOL needed to take that share of supply in one go. The first-block bar includes the 50% launch tax; fees otherwise ignored. Pump uses its published virtual reserves.
The first-block column includes the launch tax: a 50% fee in the first block that fades to the normal 1.56% in under a second. Pump uses its published virtual reserves. Anyone can still buy in the first block. More in First-block pricing.
Both curves graduate at the same price, about 411 SOL of market cap. Halo starts higher and raises 120 SOL, where Pump raises 85.
Both curves reach the same price at graduation, about 411 SOL of market cap. Halo starts higher, so early supply costs more, and it raises 120 SOL on the way, where Pump raises 85.
The pool each curve seeds at graduation, drawn to scale, SOL on the left and tokens on the right, at the same price. Constant-product approximation, fees ignored.
Both coins graduate into a Meteora DAMM v2 pool. Halo's liquidity is permanently locked, and its pool is deeper at the same price.
