MerryForge

How MerryForge Bonding Curves Work

By MerryForge Team · Reviewed by MerryForge Team · Updated 2026-07-25

What is a bonding curve?

A bonding curve is a smart-contract pricing rule that sets token price from supply sold and quote raised. On MerryForge, launches trade on a transparent curve until the fixed graduation cap is reached. Users can generally sell back into the curve before graduation, subject to pool depth, fees, and launch status such as expired sell-only mode.

Summary

  • Price is determined by the curve contract, not a private order book
  • Raise proceeds accumulate toward a fixed graduation cap
  • Selling into the curve is usually available before graduation
  • Curves do not remove market or smart-contract risk

Bonding curves make early price discovery public and mechanical. Every buy and sell updates curve reserves according to the contract, so participants can inspect progress toward the graduation threshold.

MerryForge also enforces product rules such as per-wallet curve buy caps on new curves and transfer locks before official graduation. Those rules reduce certain abuse patterns but do not make a token safe.

After graduation, the curve phase ends for new price discovery and trading continues on the locked AMM pool.

Frequently asked questions

What is a bonding curve?+

A bonding curve is an automated pricing formula enforced by a smart contract. As more tokens are bought, the price along the curve rises according to the configured parameters. MerryForge uses this for pre-graduation price discovery.

How does MerryForge price tokens?+

Before graduation, price comes from the bonding-curve contract for that launch. After graduation, price is set by the AMM pool. Displayed USD values may use an ETH/USD reference when the raise asset is ETH or WETH.

Can users sell before graduation?+

Yes, during normal curve trading users can sell tokens back into the MerryForge bonding curve, subject to available reserves, fees, and slippage. If a launch expires into sell-only mode, new buys are disabled but sells into the curve can remain available.