How it works
The curve
One price per coin, set by a formula everyone can check. Each buy moves it up, each sell moves it down.
The formula
The curve is a constant product with virtual reserves. With reserve the HYPE raised and sold the tokens sold:
price = (VIRTUAL_HYPE + reserve) / (VIRTUAL_TOKENS − sold)
Both virtual reserves come from GRADUATION, fixed when the contract is deployed: VIRTUAL_HYPE = ⌈5 · GRADUATION / 14⌉, here 71.43 HYPE, and VIRTUAL_TOKENS = ⌊CURVE_SUPPLY · (VIRTUAL_HYPE + GRADUATION) / GRADUATION⌋, here 1,085,714,286 tokens.
Amounts are integers with 18 decimals, never floats, and every rounding goes the curve's way: the product of the two reserves can only grow. A buy that would pass the graduation pays for the room left, plus its fee, and gets the rest back.
From start to graduation
| Price | Valuation | |
|---|---|---|
| Start | 0.00000006579 HYPE | 65.79 HYPE |
| 200 HYPE raised | 0.0000009500 HYPE | 950 HYPE |
Whatever the graduation, the valuation starts at 0.329 times it and ends at 4.75 times it, and the Elysium pool opens exactly at the curve's last price.