Raise Asset vs Pay With on MerryForge
By MerryForge Team · Reviewed by MerryForge Team · Updated 2026-07-25
What is the difference between Raise Asset and Pay With?
The raise asset is the quote currency the bonding curve is denominated in (typically USDG or ETH/WETH). Pay With is the asset a trader uses in the wallet for a given trade. MerryForge’s routing layer can convert supported assets so you may pay with ETH on a USDG raise or USDG on an ETH raise when routes exist. Graduation uses the raise asset accounting of the curve.
Summary
- Raise asset = curve denomination and graduation accounting
- Pay asset = what you spend in the wallet for a trade
- Routing may swap between supported assets when available
- Always check quotes, slippage, and minimum received
Routing improves usability but adds conversion risk: price impact, slippage, and temporary route unavailability. A successful route still does not make the token safe.
Creator bonds remain USDG even on ETH raises. Bond funding may use routing at creation time, but bond storage and refunds are USDG.
Frequently asked questions
What is the difference between Raise Asset and Pay With?+
Raise asset is the quote the launch curve is built around—the unit that counts toward the graduation cap. Pay With is the asset you choose to spend for a buy (or receive for a sell) in the UI. Routing bridges the two when a conversion path is available.
Can users pay with ETH on a USDG raise?+
When routing supports it, yes: you can pay with ETH while the curve still raises and accounts in USDG. The quote shown includes conversion and fees. If routing is unavailable, you may need the raise asset directly.
Can users pay with USDG on an ETH raise?+
When routing supports it, yes: USDG can be converted toward an ETH/WETH-denominated curve. Always review the route quote, slippage, and minimum received before confirming.
Which asset is used at graduation?+
Graduation thresholds and curve reserves are tracked in the launch’s raise asset (USDG or ETH/WETH as configured). The official AMM pool is seeded from that graduation path’s raise-side liquidity, not from an arbitrary pay-asset choice on a single trade.