> For the complete documentation index, see [llms.txt](https://dyorhq.gitbook.io/docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://dyorhq.gitbook.io/docs/launchpad/trading-on-the-curve.md). # Trading on the Curve Tap any coin on the Launch tab to open its page. While the coin is **Bonding**, you buy and sell directly on its curve here (not in Swap). Swap can't route a coin that's still on its curve. When you open one from Home (a token's page), Portfolio or Swap, the app points you to its Launch page instead, with a button such as **Trade TICKER on its Launch page** (or **Sell TICKER on its Launch page**). If the coin's launch can't be read just now, it offers **Find TICKER on the Launch tab**. ## The coin page * **Header**: logo, name, phase, price in the pair asset (and USD), market cap, and a **Graduation** gauge with *"Graduates at X \ raised. Liquidity then moves to a locked \ pool."* * **Stats**: 24h Volume, Holders (approximate), Progress. * **Price chart**: built from the coin's curve trades over the last day. A flat line at the launch price until the first trade. * **Trade on the Curve** ticket (see below). * **Your Holdings** (if you hold any): Balance, Pending rewards, Claim Rewards. * **Creator Fees**: fee mode, creator tax, fee recipient, and claim buttons for the creator. * **Recent Trades**: up to 25 of the last day's curve buys and sells, with trader, amount and age (the section is hidden when there were none). Tap one to open it on Monadscan. * **About**: description, token and creator addresses, creator tax, fee-sharing flag, graduation venue and links. ## Buy 1. In the ticket, keep **Buy** selected. 2. Enter an amount of the pair asset (or tap the max button to use your balance). 3. The quote updates as you type: * **You receive**: coins * **Curve fee**: 1% of your input * **Early-buy tax**: shown only in the first seconds after launch, in the attention colour * **Refunded (curve full)**: shown if your buy is more than the curve still needs; the excess comes straight back 4. Tap **Buy $TICKER**. The confirmation shows **You pay**, **You receive** and **Minimum** (your quote minus 1% slippage). ERC-20 pairs add an "Approve \" step first; MON needs none. The buy that reaches the threshold **completes the curve and graduates the coin in the same transaction**. It needs more gas than a normal buy. If your wallet's estimate came in too low you'll see *"This buy would graduate the token and needs more gas. Try again."*; just retry. ## Sell 1. Switch the ticket to **Sell**. 2. Enter a number of coins. 3. The quote shows **You receive** in the pair asset, **Curve fee** (1% of the output) and **Creator tax** if the creator set one. There's no early-buy tax on sells. 4. Tap **Sell $TICKER**. Steps: "Approve $TICKER" then the sell. ## Sell-only coins Some coins can be sold on their curve but not bought. Their ticket is titled **Sell on the Curve** and has no Buy side: * **Coins from a previous DyorHQ launchpad** (marked **Retired launchpad**): *"This coin's launchpad is retired: you can sell, but not buy."* Curve fees and any creator tax apply, unless the coin is in refund mode. * **Coins in refund mode**: *"Refund mode: sell back into the curve at its price, with no fees."* A coin whose curve is full but hasn't graduated yet (**Graduation pending**) can't be traded at all until it graduates; its page shows the graduation section instead of the ticket. See [Graduation](/docs/launchpad/graduation.md). ## How the price moves The curve is a constant-product curve with a virtual reserve, like most launchpads: each buy raises the price, each sell lowers it. About 68.4% of the supply is available on the curve; the rest is withheld. At graduation about two-thirds of it (21.6% of supply) seeds the pool at the curve's final price so there's no jump, and the remaining 10% of supply stays locked outside the pool. ## Fees on the curve | Fee | Buy | Sell | | ------------------- | ---------------------------------------------------------------------- | -------------- | | Curve fee 1% | Off the input | Off the output | | Creator tax (0–10%) | Off the input | Off the output | | Early-buy tax | Seconds 0–3 after launch: 98% (less the creator tax) / 25% / 3% / 0.3% | None | The creator, the deployer and the developer buy never pay the early-buy tax. Half of the curve fee and early-buy tax goes to DyorHQ; the other half plus the creator tax goes to the creator, or into the holder-reward pool when fee sharing is on. ## Slippage Curve trades use a fixed **1%** floor: the transaction reverts if you would receive less than 99% of the quote. Quotes are re-fetched 300 ms after you stop typing, so what you review is current. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://dyorhq.gitbook.io/docs/launchpad/trading-on-the-curve.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. 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