Bonding

What the 100 HYPE target means, what changes when it is reached, and what happens if it never is.

What bonding is

On most launchpads, "bonding" (or "graduating") is the moment a token leaves the launchpad's private curve and gets a real DEX pool. On init there is nothing to move: the token has traded in a real HyperSwap pool since its first second. Bonding here simply means the training wheels come off. The gateway stops charging its 0.25% fee, the transfer restrictions that forced everyone through the gateway are removed, and the creator's escrowed fees are released.

The liquidity does not move, is not migrated, and is not touched. It stays in the same locked position forever.

The 100 HYPE target

The target is 100 HYPE net into the curve. "Net" means what actually stays in the pool as HYPE after fees:

• A buy adds what reached the pool minus the pool's 1% fee. A 1 HYPE buy after the guard window adds 0.987525 HYPE.
• A sell subtracts the HYPE the pool paid out for the tokens (before the gateway fee is taken).
• The gateway fee, the sniper guard surcharge and the pool fee never count. Buying and selling to yourself does not help either: the fees you pay reduce your progress.

With no sells at all, about 101.26 HYPE of gross buying reaches the target. At that point the curve price puts the token at about 563 HYPE FDV (18.8 times the starting 30 HYPE), and 76.9% of the supply has been sold, with 23.1% still in the pool.

The progress bar on every token page shows this number, for example bond 42.17 / 100 HYPE.

The 10 minute confirmation

1. 1
   First reach

   The first time progress touches 100, the contract records the timestamp (bondReachedAt) and emits a BondReached event. This is recorded once and never reset, even if progress falls below 100 afterwards.

2. 2
   Pending

   For the next 10 minutes the token shows as BOND_PENDING while its progress is at or above 100. Trading continues exactly as before, with the same fees. Selling can push progress back under the line; buying can push it back over.

3. 3
   Settlement

   Once 10 minutes have passed since the first reach, the next trade through the gateway checks whether progress is at or above 100 at that moment. If yes, that trade bonds the token before executing itself. If no, nothing happens and the check simply repeats on every following trade. There is no second timer.

Why the wait? Without it, a single transaction could buy to the target, bond, and sell into the now unrestricted pool. Ten minutes gives the market a window to disagree. The wait applies only to the first reach; a token that crosses the line again a day later bonds on the very next trade.

What changes at the moment of bonding

Just before flipping the state, the contract also collects the pool fees that accrued during the pre-bond phase and splits them under pre-bond rules, so no fee is ever counted under the wrong regime.

Nobody presses anything

You may have used launchpads with a "finalize" or "migrate" button that someone has to click, and a keeper bot that sometimes falls behind. On init, settlement is part of every gateway trade. When the first trade arrives after the waiting period, the gateway first settles the token (bond or unlock), then executes the trade under the new rules. As a courtesy, that settling trade pays no gateway fee and no guard surcharge.

The explicit functions finalizeBond and finalizeOrUnlock still exist and anyone may call them, for example a keeper on a token with no trades. They apply exactly the same rules; they just pay the gas themselves.

If a token never bonds

Every token has a deadline of 30 days after launch (or 10 minutes after the first reach, whichever is later). Until then it simply stays in PREBOND: trading continues through the gateway and fees keep accruing.

After the deadline, the next trade (or anyone calling finalizeOrUnlock) settles it one of two ways:

• If progress is at or above 100 at that moment, the token bonds normally.
• Otherwise, if progress has been below 100 for at least 10 minutes, the token becomes TIME_UNLOCKED: transfer restrictions are lifted and the gateway fee ends, exactly like bonding. The difference is that the creator's escrow is not released to the creator; it goes to RO0T stakers. No bonus is ever paid. The site shows TIME_UNLOCKED, not BONDED, and does not count it as a creator success.

The 10 minute condition on unlocking is there so nobody can sell a nearly bonded token below the line and unlock it in the same block.

There is also a last-resort 60 day fallback inside the token contract itself: if a launched token is still in PREBOND 60 days after launch, whatever the reason, the token stops enforcing transfer restrictions on its own. This exists so that no token can be trapped by a bug in the gateway. It does not release or forfeit the escrow; that still needs finalizeOrUnlock, which anyone can call.

Next: Creator earnings →