Bonding curve
Every coin starts on a constant-product curve with virtual reserves:
| Parameter | Value |
|---|---|
| Total supply | 1,000,000,000 tokens (18 decimals) |
| Sold on the curve | 793,100,000 tokens |
| Kept for the pool at graduation | 206,900,000 tokens |
| Initial virtual HYPE reserves | 45 HYPE |
| Initial virtual token reserves | 1,073,000,000 tokens |
| HYPE raised when the curve sells out | about 127 HYPE |
The price is virtual HYPE reserves / virtual token reserves, and their product stays constant across trades. A buy adds HYPE and removes tokens, so the price rises; a sell does the opposite.
Each curve snapshots these parameters and its fees when the coin is created. A later configuration change only affects coins launched after it, never a live curve.
Rounding always favors the curve: you never receive a token more, or pay the smallest unit of HYPE less, than the math gives.