# The Unit Selection Criteria

Let

$S$

be the total current supply of the Rank 1 currency (currently Bitcoin), and let $\phi$

be the golden ratio $\frac{1+\sqrt{5}}{2}$

. Then the coins in The Unit must satisfy the following conditions.- 1.Valuation: Market capitalization is greater than$\frac{S}{\phi^{12}}$. Moreover, 180D average daily capitalization must be greater than$\frac{S}{\phi^{12}}$.
- 2.Volume of Trade: The currency trades widely with at least a year of public trading. If$R$is the 180D average market capitalization to trading volume ratio*. The 180D average daily volumes must be greater than$\frac{S}{\phi^{12}R}$.
- 3.Issuance: The consensus rules must define the currency supply.
- 4.Availability: As a weak rule, 50% of the supply must be available for trading.