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Bonding curves
On-chain pricing before graduation. Always a counterparty until the curve sells out.
A bonding curve is a vending machine for a token. It holds the whole supply from create, and it will always sell you tokens and always buy them back (until graduation). Price is not set by anyone. It is worked out from how much of the supply has been bought so far.
Pricing is computed on-chain only. The UI reads that state; it does not invent a price.
- Total supply
- 1,000,000,000 tokens. Full supply sits on the curve. No team allocation.
- Sellable on curve
- 800,000,000 tokens.
- DEX LP floor
- 200,000,000 tokens reserved for liquidity at graduation (not sellable on the curve).
- Virtual token reserve
- 1.073B (pump.fun-style base).
- Virtual native
- Derived per token from the USD graduation target so sold-supply exhaustion lines up with the ETH threshold.
Large buys move the price more than small ones, so the average price on a big order is worse than the spot quote. If a buy would take more ETH than the remaining sellable reserve needs, the curve fills what it can and refunds unused ETH.
After the curve sells out, you cannot sell into the reserves that seed the pool. Selling reopens in the pool once graduation completes.