YAPBasics4 min read · YAP team
How the pump.fun bonding curve works
What the bonding curve is, why price moves fast early, and what happens when a coin graduates.
Key points
- Price rises as more of the curve is bought.
- Early buys move price the most.
- Graduation moves the coin to an open market.
The curve
A new pump.fun coin starts on a bonding curve: a fixed formula that sets the price from how much has been bought. Every buy pushes the price up, every sell pulls it down.
Why early moves are big
At the start there is little money in the curve, so a small buy shifts the price a lot. That is why charts look so steep in the first minutes, both up and down.
Graduation
When the curve fills, the coin graduates and its liquidity moves to an open market. YAP shows new graduates on Home so you can see them as it happens.
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