> For the complete documentation index, see [llms.txt](https://docs.vapordex.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.vapordex.io/vapordex/vape-token/genesis/initial-evaluation.md).
# Initial Evaluation
The **initial valuation**, as determined by the community is simply the cost to acquire their tokens plus whatever margin they feel is an appropriate or aspirational upside to the token’s inherent value. This value can be subjective and may vary person-to-person but represents an opportunity for the community to once again determine what it deems to be an appropriate valuation for the VAPE token.
The initial valuation from the community could be determined through a very simple formula: \[Cost to Acquire] + (\[Cost to Acquire] x \[Markup %]). If we carry the illustrative $0.119 cost to acquire example forward and say that a genesis event participant decides that they’d only part with their VAPE if they received 30% or more of their initial cost to acquire — that would put that individual’s personal initial valuation at $0.1547.
The above graphic shows a variety of hypothetical scenarios, illustrating how the valuation would materialize and be calculated based on the variables in the initial valuation formula.
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