What Is the Formula for Calculating the Weighted Average Cost of Capital (WACC)?

The WACC formula is $WACC = (E/V) R_e + (D/V) R_d (1 – T)$, where $E$ is the market value of equity (token market cap), $D$ is the market value of debt, $V$ is the total value ($E+D$), $R_e$ is the cost of equity (required token holder return), $R_d$ is the cost of debt, and $T$ is the corporate tax rate. For crypto, the tax term $(1-T)$ is often simplified or removed due to the lack of corporate taxation, and $R_e$ is the dominant, high-risk factor.