Users are able to use the Orca protocol to transact with digital assets on a peer-to-peer or peer-to-protocol basis by trading against liquidity  pools, which are created and seeded by other users providing liquidity of a pair of tokens into such liquidity pools in exchange for a stake of the liquidity and trading fees generated by such pools.

Orca is a non-custodial automated market maker (AMM) protocol built on Solana. Orca was founded by Yutaro Mori and Grace Kwan and launched in 2021.

ORCA tokenholders govern the Orca protocol treasury, which receives a portion of the trading fees paid by users of the protocol.

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Orca

Orca | Data Breakdown

# Orca Maximum token supply Methodology

## 1. Overview

This metric tracks the maximum token supply for ORCA tokens over time, representing the theoretical upper limit of tokens that can ever exist in circulation. The metric captures historical changes to ORCA's tokenomics, specifically the reduction from 100 million to 75 million maximum tokens. This helps analysts understand token scarcity dynamics and protocol governance decisions that affect token supply economics.

## 2. Data sources

The calculation relies on:
- **Protocol governance decisions**: Official ORCA protocol announcements regarding changes to maximum token supply
- **Token economics documentation**: ORCA's tokenomics specifications and supply parameters
- **Protocol upgrade records**: Historical documentation of protocol changes affecting token supply mechanics
- **Governance proposal outcomes**: Results of community votes that modify token supply parameters

## 3. Step-by-step calculation

### Component A: Historical supply definitions
- **Purpose**: Establishes the timeline of maximum token supply changes for ORCA
- **Logic**: Two key historical points are defined: the initial launch on August 9, 2021, with a maximum supply of 100 million tokens, and a future reduction effective April 16, 2025, decreasing the maximum to 75 million tokens. Each data point includes a precise timestamp and daily granularity specification.
- **Key fields**: `timestamp` marks the effective date of each supply change, `timestamp_grain` specifies daily reporting frequency, and `token_supply_maximum` contains the actual maximum supply value in tokens

### Component B: Metric standardization
- **Purpose**: Converts the historical supply data into a standardized metric format with continuous daily values
- **Logic**: The finalize metric macro processes the historical data points using a forward-fill strategy, ensuring that each day has a valid maximum supply value. The macro applies ORCA as the data identifier and maintains daily timestamp granularity throughout the time series.
- **Key fields**: The standardized output includes `timestamp`, `timestamp_grain`, `token_supply_maximum`, and `data_id` fields formatted according to Token Terminal's metric standards

### Final aggregation
- **Combining components**: The historical supply definitions are processed through the standardization macro to create a complete time series
- **Time aggregation**: Daily boundaries are used with forward-filling to ensure continuous coverage from the launch date through future dates
- **Final calculation**: The maximum token supply value for any given day is the most recent supply parameter that was in effect on that date, with the value remaining constant until the next defined change date

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Maximum number of tokens that can exist under the current token economics.

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Maximum token supply

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