The Bonding Curve
Until a token graduates, it trades on a bonding curve: an automated market built into the protocol. No order book, no market makers, and no liquidity needed from the creator — the protocol itself is always the counterparty.
How it works
Section titled “How it works”- The price is set automatically. Buys push the price up, sells push it down, along a fixed path. There is no other way to move a token’s price — no repricing, no admin levers.
- Every token uses the exact same curve. Identical parameters, hardcoded in the protocol. No launch can have secretly different math or a secretly better deal for insiders.
- Early buyers get lower prices. That’s the incentive to discover tokens early — and it’s the same advantage for everyone, on every token.
- You can always trade. The curve is always liquid in both directions; there is no “no liquidity” state before graduation.
Your expected output, price impact, and the post-trade price are all shown in the app before you confirm any trade.
Fees on the curve
Section titled “Fees on the curve”Every curve trade pays 1% of the ETH side to the protocol:
- On a buy, 1% of the ETH you send.
- On a sell, 1% of the ETH you receive.
The rest goes entirely into (or out of) the curve. No hidden spreads, no per-token differences.
Where the ETH goes
Section titled “Where the ETH goes”The ETH paid into a curve is held by the protocol contract, not the creator. It can only leave two ways: back out to sellers, or — once the token has raised ≈5 ETH — into the token’s permanently locked DEX liquidity at graduation. The creator can never withdraw it.
Why a bonding curve?
Section titled “Why a bonding curve?”- Fair launch: no presale, no allocations — trading opens to everyone at the same moment, at the same price.
- Guaranteed market: every token is tradable from its very first second.
- Rug-resistant: the funds backing the market are protocol-held from day one.