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The launchpad uses a virtual-reserve constant-product bonding curve. Price discovery is continuous between buys and sells until the curve graduates to Uniswap V3.

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Parameters

ParameterValue
Virtual ETH Reserve0.25 ETH
Virtual Token Reserve1,073,000,191 tokens
Total Token Supply1,000,000,000 tokens
Pre-Bond Target0.03
Graduation Threshold6.9 ETH
Sell Fee0.1% – 2% (dynamic)

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Formula

Price = (VirtualETH + RealETH) / (VirtualTokens + RealTokens)
Constant product is preserved on each trade: 
(VirtualETH + RealETH) * (VirtualTokens + RealTokens) = k

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How it works

1

Initial state

Virtual ETH = 2.44, Virtual Tokens = 1,073,000,191, Real ETH = 0, Real Tokens = 0.
2

Buy

Real ETH increases, Real Tokens increase — price rises along the curve.
3

Sell

Real ETH decreases, Real Tokens decrease — price falls along the curve.
4

Graduation

When Real ETH reaches 6.9 ETH, the curve can be finalized and liquidity migrates to a Uniswap V3 1% pool.