Bonding curve and graduation

Every coin starts on a bonding curve and ends in a HyperSwap pool. The curve gets a coin going; the pool is where it lives afterwards.

The curve

At launch, the launchpad contract holds the coin's whole supply. Each buy takes coins off the curve and pushes the price up; each sell returns coins and pushes it down. Because the curve always quotes a price, you can buy or sell at any moment while the coin is on it.

There is no presale and no team allocation. The creator buys on the same curve, at the same prices, as everyone else.

Graduation

When the curve has sold its supply, the coin graduates. Everything the curve raised in the pair asset, together with the coins set aside for liquidity, goes into a HyperSwap pool for the same pair. The progress bar on each coin shows how close it is.

Locked liquidity

The pool position is locked by the contract forever. Nobody can withdraw it, the notional team included, so a graduated coin can never have its liquidity pulled. The coin's creator collects the trading fees that position earns.

After graduation

A graduated coin trades on HyperSwap like any other token on HyperEVM. You can keep trading it from its page on notional or from any app that routes through HyperSwap.