There are dozens of DEX screeners. Every one of them shows the same data: price, volume, liquidity, holder count. That data is necessary but nowhere near sufficient for evaluating tokens backed by operating companies. A company token's value is tied to what the company behind it is actually doing. If you cannot see the operations, you are trading blind.
The token economy today
The Capx token economy is CAPX, a Solana-native token with a fixed supply of 1 billion, plus seven per-company tokens. Those seven companies tokenized through Capx before Capx Casa existed, and their tokens have a real history behind them.
More than $65M in trading volume cleared on-chain across the seven company tokens, generating roughly $100k per month in protocol fees at a 1% fee on volume. The CAPX token has 71K holders. These are the markets Terminal was built to make legible.
Consolidating on Solana
Capx consolidated its token economy on Solana in 2026. CAPX, which previously existed across several networks, is now Solana-native: holders migrate through a burn-and-mint bridge, and the per-company tokens move to Raydium pools alongside it. One chain, one venue, one window.
The division of labor is deliberate. Raydium hosts the markets. Phantom, other Solana wallets, and Telegram trading bots are how people access them. Capx ships no exchange contracts and runs no venue. Terminal is the research layer on top: as each pool goes live on Raydium, its data lights up in Terminal.
What Terminal shows that screeners do not
| Data point | Terminal | DEX screeners | Block explorers |
|---|---|---|---|
| Price and volume | Yes | Yes | Partial |
| Liquidity depth | Yes | Yes | No |
| Holder distribution | Yes | Yes | Yes |
| Company operational status | Yes | No | No |
| Playbook activity | Yes | No | No |
| Founder approval activity | Yes | No | No |
| Treasury balance and flows | Yes | No | Partial |
| Output quality signals | Yes | No | No |
The bottom rows are the entire point. None of that data exists on any screener because screeners read on-chain data, and company operations happen off-chain. Terminal bridges the gap: market data is the foundation, and operational telemetry lights up per company as companies built on Capx Casa opt in to publishing it.
The graduation path
Terminal is also where the two halves of Capx meet. Companies are built on Capx Casa. Tokenization is a separate, later step: opt-in and milestone-gated, a graduation a company earns rather than a default it starts with. A company on Casa can run forever without ever issuing a token.
A founder and their AI cofounder run the company: playbooks, approvals, real customers.
The company builds an operating record: output, revenue, and a track record that can be evaluated.
Companies that hit the eligibility bar can choose to tokenize. The token launches on Solana and trades on Raydium.
The token's market data and the company's operating data appear side by side, for anyone to research.
The mechanism for new launches is being designed deliberately. The old launch model is retired, and we would rather get the new one right than ship it fast. What is locked is the shape: opt-in, milestone-gated, settled on Solana, traded on Raydium, and surfaced through Terminal.
Design principles
View-only, no login required
Terminal is a public research tool. Anyone can view any token's data without creating an account, connecting a wallet, or signing anything. The data is open because transparency is the point.
Data density over decoration
Terminal is designed for people who read Bloomberg, not people who browse social media. Dense information presentation. Tables over charts where tables are more informative. Numbers with context, not numbers with animations. The interface assumes you know what you are looking at.
No recommendations, no scores, no ratings
Terminal shows data. It does not tell you what to do with it. There are no "buy" or "sell" signals, no composite scores, no star ratings. The user does their own analysis. This is a deliberate product decision: the moment you add a score, you become responsible for that score. We surface the raw data and trust the user to interpret it.
What comes next
Beyond current snapshots: 30-day, 90-day, and all-time views for every metric, enabling trend analysis.
Side-by-side comparison of tokens across market and operational dimensions. Filter, sort, and rank by any metric.
Configurable alerts for operational events: activity drops, treasury changes, approval queues backing up.
Company tokens deserve research-grade tooling. The market is new, the data is novel, and the existing tools were not built for it. Terminal was.