Bonding curve
Each token has a constant-product bonding curve, the same family as pump.fun-style launchpads, with one twist: the reserve asset is the leveraged token, not USDT. The curve holds LT on one side and the token on the other; the price of the token in LT is set by the ratio of the two reserves.
Two moving parts
The USD price of a token is the curve price (in LT) multiplied by the LT's exchange rate (in USDT). Trades move the first; the market moves the second. So a token can go up with zero trades because its backing appreciated — and it can go down for the same reason.
Parameters
| Parameter | Value | Meaning |
|---|---|---|
| Total supply | 1,000,000,000 | Minted once at launch; 75% goes to the curve, 25% is reserved for graduation: 18.75% seeds the pool when the curve closes at the threshold, the rest is burned. |
| Virtual reserve | $4,000 | A virtual USDT amount added to the reserve so the price starts smooth instead of at zero. |
| Graduation | $12,000 raised | When the curve has collected this much backing, it closes and the token moves to PancakeSwap. |
| Minimum trade | 1 USDT | Smaller amounts are refused by the contract. |
| Trading fee | 1% | On every buy and sell, in USDT, split 40% creator / 60% protocol. |
Convexity
Because the reserve is leveraged, the effective exposure of a token is larger than the LT's nominal leverage. Early on the curve, when the token is cheap relative to its reserve, a 3x-backed token can move 8–15% for each 1% of the underlying. As the curve fills up the multiplier shrinks towards the LT's own leverage. The token page shows the current backing and progress so you can gauge where you are on the curve.
What the curve guarantees
- The reserve can only move through buys, sells and graduation. There is no admin withdrawal.
- Every sell is paid from the curve's own reserve, converted to USDT by redeeming LT — never from other tokens' reserves.
- The last buy that crosses the graduation threshold is filled exactly to the threshold; any excess is returned.