The curve

Every coin opens on a Meteora Dynamic Bonding Curve: 800,000,000 tokens for sale, the price rising with every buy until the raise is complete.

The shape

The curve sells 80% of the supply. Its price climbs 16× from the first token to the last, and the last price is the one the pool opens at, so graduating doesn’t move it. The other 200,000,000 tokens wait for the pool.

On the curve: 800,000,000
Raise: 85 SOL
First price, per 1M tokens: 0.0266 SOL
Last price, per 1M tokens: 0.425 SOL

A coin priced in a stock has the same shape with its own raise, set to the same dollar amount (stock pairs).

The opening fee

A trade pays 25% in the curve’s first second, falling in a straight line to 1.75% at 5 seconds, where it stays. Bots that buy in the opening blocks pay for it. The creator’s own first buy is in the creating transaction and pays 1.75%.

The fee a trade pays, by seconds since the pool opened.

Buying and selling

Until graduation anyone can buy from the curve and sell back to it, at the same fee. Every trade moves the raise; the board draws it as a ring closing around the coin’s grain, and the coin’s page shows how much of the raise is in.

Of each fee Meteora keeps 20%. The rest, 1.4% of curve volume, goes to the $NACRE buyback. Creators take no share (fees).