The world’s first ever “adaptive stellar coronagraph” facility will be the PLACID instrument, installed on Turkey’s new national observatory 4-m DAG telescope. PLACID incorporates a customized spatial light modulator (SLM) acting as a dynamically addressed focal-plane phase mask (FPM) coronagraph in the H – Ks bands. This new approach to high-contrast imaging will be applied on-sky in late 2024/early 2025. We present a first estimate of the science discovery space for PLACID, in terms of known exoplanets and brown dwarfs, considering raw lab contrast, contrast ratios, limiting magnitudes, coronagraphic inner working angle etc. In the future, we will also look into predicted disk and binary or multiple stars systems imaging performance, with the latter being a possible niche science case for the instrument (adaptive FPM for multiple stars). This work will inform on the first light PLACID commissioning activities and early science on the DAG telescope and is deemed to evolve in function of future developments on the DAG AO instrumentation suite.