A mathematical formula that determines a token's price as a function of its supply. As more tokens are purchased, the price rises along the curve; selling decreases supply and lowers the price. Pump.fun popularized bonding curves on Solana for token launches, using them for initial price discovery before a token graduates to a DEX. The curve shape determines how quickly price accelerates with demand.
Empieza por la explicación más corta y útil antes de profundizar.
A mathematical formula that determines a token's price as a function of its supply. As more tokens are purchased, the price rises along the curve; selling decreases supply and lowers the price. Pump.fun popularized bonding curves on Solana for token launches, using them for initial price discovery before a token graduates to a DEX. The curve shape determines how quickly price accelerates with demand.
Usa primero la analogía corta para razonar mejor sobre el término cuando aparezca en código, docs o prompts.
Piensa en esto como una mecánica de mercado usada para poner precio, rutear o mover capital en apps de liquidez.
Ubica el término dentro de la capa de Solana en la que vive para razonar mejor sobre él.
AMMs, routing, liquidez, préstamos e infraestructura de trading.
Convierte el término de vocabulario en algo operacional para producto e ingeniería.
Este término desbloquea conceptos adyacentes rápido, así que funciona mejor cuando lo tratas como un punto de conexión y no como una definición aislada.
Usa este bloque compacto cuando quieras dar contexto sólido a un agente o asistente sin volcar toda la página.
Bonding Curve (bonding-curve) Categoría: DeFi Definición: A mathematical formula that determines a token's price as a function of its supply. As more tokens are purchased, the price rises along the curve; selling decreases supply and lowers the price. Pump.fun popularized bonding curves on Solana for token launches, using them for initial price discovery before a token graduates to a DEX. The curve shape determines how quickly price accelerates with demand. Relacionados: Pump.fun, Graduation, AMM (Creador de Mercado Automatizado)
Usa contexto del glosario, relaciones entre términos, modelos mentales y builder paths para recibir respuestas estructuradas en vez de output genérico.
Opcional: pega código Anchor, Solana o Rust para que el Copilot mapee primitivas de vuelta al glosario.
El Copilot responderá usando el término actual, conceptos relacionados, modelos mentales y el grafo alrededor del glosario.
Estas ramas muestran qué conceptos toca este término directamente y qué existe una capa más allá de ellos.
A memecoin launchpad on Solana that uses a bonding curve mechanism for token creation and initial price discovery, allowing anyone to launch a token with no code in seconds. Tokens that 'graduate' (reach a market cap threshold) migrate to a DEX for open trading. Pump.fun generated over $300M in fees within its first year and launched PumpSwap, its own DEX, in March 2025.
The process by which a token launched on a bonding curve platform like Pump.fun migrates to a standard DEX liquidity pool after reaching a predefined market cap threshold (typically ~$69K on Pump.fun). At graduation, the bonding curve liquidity is deposited into a Raydium or PumpSwap pool, enabling open market trading. Graduation signals initial market validation of a token launch.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
Estos son los siguientes conceptos que vale la pena abrir si quieres que este término tenga más sentido dentro de un workflow real de Solana.
Estas entradas son fáciles de mezclar cuando lees rápido, haces prompting a un LLM o estás entrando en una nueva capa de Solana.
Graph showing interest rates across different maturities for comparable debt. Normal curve slopes upward (longer = higher yield). When inverted (short > long), short-duration tokenized T-bills offer higher yields, explaining their dominance in Solana RWA.
Las entradas del glosario se vuelven útiles cuando están conectadas. Estos enlaces son el camino más corto hacia ideas adyacentes.
A memecoin launchpad on Solana that uses a bonding curve mechanism for token creation and initial price discovery, allowing anyone to launch a token with no code in seconds. Tokens that 'graduate' (reach a market cap threshold) migrate to a DEX for open trading. Pump.fun generated over $300M in fees within its first year and launched PumpSwap, its own DEX, in March 2025.
The process by which a token launched on a bonding curve platform like Pump.fun migrates to a standard DEX liquidity pool after reaching a predefined market cap threshold (typically ~$69K on Pump.fun). At graduation, the bonding curve liquidity is deposited into a Raydium or PumpSwap pool, enabling open market trading. Graduation signals initial market validation of a token launch.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
Estas entradas viven junto al término actual y ayudan a que la página se sienta parte de un grafo de conocimiento más amplio en lugar de un callejón sin salida.
A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.