Bonding Curve

Summary

A bonding curve launch creates a constant-product AMM where trading starts immediately — no deposit window. The price rises as SOL flows in, and the curve auto-graduates to a Raydium CPMM pool when all tokens are sold. This page covers the full bonding curve lifecycle.

• Creation: Via genesis launch create --launchType bonding-curve (API only, no manual flow)
• Trading: Buy with genesis swap --buyAmount or sell with --sellAmount
• Info: Check price, reserves, fill percentage with genesis swap --info
• Inspect: View bucket configuration with genesis bucket fetch --type bonding-curve
• Graduation: Auto-graduates to Raydium CPMM when fully filled

Jump to: Create a Bonding Curve · Swap (Buy and Sell) · Checking Curve Status · Inspect Bonding Curve Bucket · Full Lifecycle Example · Common Errors · FAQ

Create a Bonding Curve

Bonding curve launches are created via the Genesis API. Only --name, --symbol, and --image are required:

mplx genesis launch create --launchType bonding-curve \
  --name "My Token" \
  --symbol "MTK" \
  --image "https://gateway.irys.xyz/abc123"

Optionally configure creator fees, a first buy, or link to an agent:

mplx genesis launch create --launchType bonding-curve \
  --name "My Token" \
  --symbol "MTK" \
  --image "https://gateway.irys.xyz/abc123" \
  --creatorFeeWallet <FEE_WALLET_ADDRESS> \
  --firstBuyAmount 0.1

mplx genesis launch create --launchType bonding-curve \
  --name "Agent Token" \
  --symbol "AGT" \
  --image "https://gateway.irys.xyz/abc123" \
  --agentMint <AGENT_CORE_ASSET_ADDRESS> \
  --agentSetToken

See Launch (API) for all flags and details.

Swap (Buy and Sell)

The mplx genesis swap command buys or sells tokens on the bonding curve.

mplx genesis swap <GENESIS_ACCOUNT> --buyAmount 50000000

mplx genesis swap <GENESIS_ACCOUNT> --sellAmount 500000000000

Swap Options

Swap Examples

Buy with custom slippage (1%):

mplx genesis swap <GENESIS_ACCOUNT> --buyAmount 50000000 --slippage 100

Swap Output

--------------------------------
  Direction: Buy
  Amount In: 50000000 (quote tokens)
  Amount Out: <base_tokens_received>
  Signature: <transaction_signature>
  Explorer: <explorer_url>
--------------------------------

Checking Curve Status

The --info flag displays the current curve state without executing a swap:

mplx genesis swap <GENESIS_ACCOUNT> --info

Combine --info with an amount to get a price quote:

mplx genesis swap <GENESIS_ACCOUNT> --info --buyAmount 100000000

mplx genesis swap <GENESIS_ACCOUNT> --info --sellAmount 1000000000

The info output includes:

• Current price per token
• Reserve balances (base and quote)
• Fill percentage
• Whether the curve is currently swappable
• Price quote with fees and minimum output (when an amount is provided)

Inspect Bonding Curve Bucket

The genesis bucket fetch command with --type bonding-curve retrieves the full bucket configuration:

mplx genesis bucket fetch <GENESIS_ACCOUNT> --type bonding-curve

Or let the CLI auto-detect the bucket type:

mplx genesis bucket fetch <GENESIS_ACCOUNT>

Full Lifecycle Example

# 1. Create a bonding curve launch
mplx genesis launch create --launchType bonding-curve \
  --name "My Token" --symbol "MTK" \
  --image "https://gateway.irys.xyz/abc123"

# (copy GENESIS_ACCOUNT from output)

# 2. Check curve status
mplx genesis swap <GENESIS_ACCOUNT> --info

# 3. Buy tokens (0.1 SOL)
mplx genesis swap <GENESIS_ACCOUNT> --buyAmount 100000000

# 4. Check price after buying
mplx genesis swap <GENESIS_ACCOUNT> --info

# 5. Sell some tokens
mplx genesis swap <GENESIS_ACCOUNT> --sellAmount 500000000000

# 6. Inspect bucket state
mplx genesis bucket fetch <GENESIS_ACCOUNT> --type bonding-curve

Common Errors

Notes

• All amounts are in base units — for SOL, 1 SOL = 1,000,000,000 lamports
• When buying with SOL as the quote token, the swap command automatically wraps SOL to WSOL
• The default slippage of 200 bps (2%) protects against price movement between quote and execution
• Creator fees are always enabled on bonding curves — they default to the launching wallet and accrue in the bucket during trading
• After the curve graduates to Raydium, trading continues on the Raydium CPMM pool

FAQ

What pricing model does the bonding curve use? The bonding curve uses a constant-product formula. The price increases as more tokens are bought and decreases as tokens are sold.

Do I need to wrap SOL before buying? No. When buying with SOL, the swap command automatically wraps SOL to WSOL if needed.

How do I check the price before swapping? Use the --info flag to display curve status. Combine --info with --buyAmount or --sellAmount to get a quote without executing a swap.

What happens when the curve is fully filled? When all tokens are sold, the bonding curve auto-graduates to a Raydium CPMM pool. Trading continues on Raydium after graduation.

Can I create a bonding curve with the manual flow? No. Bonding curve launches are only available through the Genesis API via genesis launch create --launchType bonding-curve.

Glossary