> ## Documentation Index
> Fetch the complete documentation index at: https://docs.elata.bio/llms.txt
> Use this file to discover all available pages before exploring further.

# Bonding Curve Basics

> How price discovery works on Elata launch curves, from seeding to graduation.

## Core Model

Elata launch curves use constant-product reserves:

```text theme={null}
k = reserveElta * reserveToken
```

When someone buys:

```text theme={null}
newReserveElta = reserveElta + eltaIn
newReserveToken = k / newReserveElta
tokensOut = reserveToken - newReserveToken
```

Price rises as more ELTA enters the reserve. Selling tokens reverses the direction.

***

## Default Constants

| Parameter         | Value                   |
| ----------------- | ----------------------- |
| Total launch cost | 110 ELTA                |
| Seed ELTA         | 100 ELTA                |
| Creation fee      | 10 ELTA                 |
| App token supply  | 10,000,000              |
| Curve allocation  | 5,000,000 (50%)         |
| Graduation target | 42,000 ELTA in reserves |
| LP lock           | 730 days                |

***

## Curve Lifecycle

The `AppBondingCurve` contract follows a state machine:

| State       | Description                            |
| ----------- | -------------------------------------- |
| `PENDING`   | Deployed, not yet activated            |
| `ACTIVE`    | Trading is live                        |
| `GRADUATED` | Reserves reached the graduation target |
| `CANCELLED` | App cancelled before graduation        |

Additional behavior:

* Permissionless activation after a configurable delay
* Force graduation after deadline
* Creator-only cancel while in `PENDING` state

***

## Fees On Curve

* Default trading fee: **1%** (from `AppFeeRouter.feeBps`)
* Fee is paid on top of the buy amount
* Fees accumulate and are swept into FeeCollector as `TRADING_FEE`

<Tip>
  The trading fee is configurable by governance. Check current protocol parameters for the active rate.
</Tip>

***

## Graduation

When the ELTA reserve reaches **42,000 ELTA** (or the deadline triggers force graduation):

<Steps>
  <Step title="Pair creation">
    A Uniswap V2 pair is created or loaded for the app token and ELTA.
  </Step>

  <Step title="Liquidity addition">
    Remaining token reserves and ELTA reserves are added as liquidity.
  </Step>

  <Step title="LP lock">
    LP tokens are locked in LpLocker for **730 days**.
  </Step>

  <Step title="Curve closes">
    Bonding curve trading is disabled. All trading moves to the DEX.
  </Step>
</Steps>

***

## Early Access Gate

For the first **6 hours** after launch, buyers need **100 XP** to participate on the curve. This prevents sniping by requiring demonstrated protocol participation.

The gate parameters are configurable by governance.

***

## Next

<CardGroup cols={3}>
  <Card title="App Tokens" icon="coins" iconType="light" href="/apps/design/app-tokens">
    Token distribution and lifecycle
  </Card>

  <Card title="Fee Flow" icon="route" iconType="light" href="/apps/design/fee-flow">
    How fees are routed
  </Card>

  <Card title="App Lifecycle" icon="recycle" iconType="light" href="/apps/app-lifecycle">
    Full lifecycle overview
  </Card>
</CardGroup>