Bonding curve
A vending machine that always quotes from reserves.
The curve holds the whole supply from the moment the launch is created, and it will always sell you tokens and buy them back.
The price does not start at zero. Each launch opens at a set starting price and climbs from there.
Fees are charged in the quote asset, never in the launch token. Buying costs a fee on what you spend; selling costs a fee on what you receive.
After the curve sells out you cannot sell into it. Selling reopens in the pool once the launch has graduated.