Bonding curve launches

A Blast bonding curve lets people buy and sell a new coin before it moves into a Cetus or Bluefin liquidity pool. Its price changes with the curve’s reserves. The quote coin, such as SUI, is what you pay to buy and receive when you sell.

Contract source, reviewed 24 October 2026

These guides describe the launchpad and migrators source at contracts commit c96cd0d. Neither package has a committed canonical deployment record at this snapshot. Contract support does not establish that a feature is available in the app. Confirm the intended deployment before sending funds.

From creation to pool trading

Stage	What happens	What you can do
Optional opening round	For one to five minutes, bids join a single pot that buys once.	Add a bid; it cannot be withdrawn.
Live curve	Buys reduce the curve’s token reserve and add quote coins; sells do the reverse.	Buy and sell at the current curve price, with fees and slippage.
Target reached	The real quote reserve reaches the graduation target. Curve trading stops.	Wait for the pool launch; anyone may trigger it.
Pool launched	The contract pays the agreed allocations and seeds the chosen pool.	Trade on the DEX; receive any outstanding opening-round delivery.

A launch without an opening round can include a creator purchase before it becomes public. An opening round puts the creator’s bid in the same pot as everyone else’s. Read Trading and the opening round.

What the target means

The graduation target measures real quote coins in the curve reserve, after buy-side quote fees and after any sells. It is neither trading volume nor total purchases. The virtual quote reserve sets the price but is not spendable money and does not count toward the target.

A buy that would exceed the target uses only the amount needed and returns its unused quote coins. Reaching the target closes the curve immediately; creation of the DEX pool is a separate operation that may be composed in the same transaction.

Curve launch or presale?

	Bonding curve	Presale
Price	Changes with buys and sells; opening-round bidders share one purchase.	Participants share one sale price.
Exit before pool launch	Sell while the curve is live; no bid withdrawal during the opening round.	Commitments stay locked.
End condition	Real curve reserve reaches its target.	Fixed sale window, or an enabled early hard-cap close.
Target never reached	No expiry, cancellation, or target-miss refund.	An unsuccessful sale refunds commitments.

Every generated launchpad coin starts with one billion whole tokens. The team chooses how many are offered on the curve, how many seed the pool, and which allocations are paid at pool launch. Unsold curve tokens and accumulated sell-burn tokens are disposed of then. Supply can decrease, but finalization removes minting authority.

Continue with launch settings, fees and rewards, or safety and authority. Integrators should start with the contract guide.

Explore the economics

Follow How pricing works from x × y = k to buys, sells, fees and graduation. Use the bonding-curve builder to compare configurations and graphs, then review Allocations and design choices.