Bonding Curve
A formula that sets token price from supply — more buys, higher price, automatically.
Definition
A bonding curve is a pricing function where each new buy moves price up the curve and each sell moves it down. Pump.fun on Solana is the canonical memecoin example: a token launches on a bonding curve with no LP, price follows the curve until the token 'graduates' at ~$69k market cap and liquidity migrates to Raydium.
Bonding curves guarantee liquidity (you can always sell back to the curve) and block standard rug pulls — there's no LP to pull. The downside: bots snipe the first blocks, early buyers get the best price, and MEV is brutal on launches. // FACTCHECK: Pump.fun graduation threshold historically ~$69k; confirm current value.
Examples
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Still on the bonding curve — graduates at $69k.
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Graduated to Raydium, now it's a normal AMM pool.
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Bots front-ran the bonding curve launch, fair launch my ass.
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