Testnet data: tokens and amounts have no real-money value.

Bonding curve and graduation

Checked 2026-11-08. Things can change before mainnet.

This describes current V6 launches on testnet. Older tokens (V2, V3 and V5) keep their own rules, so always read the live numbers on the token page.

The curve

Until graduation the curve sets the price: buys push it up and sells push it down. The supply is 1 billion, with 800 million on the curve and 200 million set aside for graduated liquidity.

The target

The pair asset and the target in that asset are fixed when the token is created. The app describes the target as about 4 ETH of value in the chosen pair. It is neither market cap nor trading volume, and the token page shows the real number.

Graduation

Graduation happens inside the buy that completes the curve. From then on trading uses a Uniswap v4 pool, and the liquidity is locked for good.

If a curve never completes

There is no refund and no expiry, and graduation is not guaranteed. A sell, where one is possible, pays tax, price impact and slippage, and is not a refund.