Bonding Curve
Every token launches on a Meteora Dynamic Bonding Curve — a fair, automated market that turns into a real AMM once it fills.
#How the curve works
A bonding curve is a self-contained market defined by math, not by a counterparty. The token's price is a function of how much cbBTC () has been deposited into the pool. As people buy, cbBTC flows in and the price rises along the curve; as people sell, cbBTC flows out and the price falls. There is no order book and no liquidity provider — the curve itself is the liquidity.
- Quote currency: cbBTC. Price, FDV and the raise are all denominated in BTC.
- Supply: 1,000,000,000 tokens, sold along the curve.
- Initial market cap: ~0.05 cbBTC (≈ $5,000 FDV at launch).
- Fee: 1% on every swap, collected in cbBTC, split 50/50 between the token creator and the platform.
#Price, market cap & the raise
The token page shows three live numbers, all driven by on-chain pool state:
- Price — the current cbBTC-per-token spot price on the curve.
- FDV / Market cap —
price × 1,000,000,000 × BTC/USD, the fully-diluted value. - Raised — how much cbBTC sits in the pool, shown as progress toward the migration threshold.
#Migration to DAMM v2
Once the curve raises its threshold — ~0.1 cbBTC, at roughly a 0.5 cbBTC market cap — the token migrates automatically to a Meteora DAMM v2pool. Migration is permissionless cranking handled by a keeper; you don't have to do anything.
After migration the token is an ordinary Solana AMM pool. It can be traded on Vistomail and on any router (Jupiter and others), and our indexer continues to record every trade — wherever it happens — back onto the token page in real time.
#Fees
The 1% trading fee accrues in cbBTC on the pool. The token creatorcan claim their 50% from the token page at any time; the platform's 50% is swept automatically. Fees are real cbBTC — the same Bitcoin the token trades against.