Markets

Pipoke has a built-in launchpad for new tokens. Anyone can launch a custom token, and it trades on a bonding curve from the moment it exists. Once it clears a set of thresholds, it graduates.

Pipoke runs on Octra Devnet today. Any fee, price, or limit referred to here is a contract setting chosen for testing. Every one is owner-settable, and mainnet values will be different. These docs describe how the mechanics work, not what the numbers are.

#What the launchpad is for

The launchpad creates and hosts new custom tokens. It is BondingCurveMarket, with BondingCurveFactory able to deploy standalone token contracts.

POKE itself does not launch this way. $POKE is a standalone OCS-01 token with a one billion total supply and a mint lock. It is not a bonding-curve token, it does not trade on the launchpad, and there is no POKE-to-OCT curve here. The launchpad is for tokens other people create.

Each launched token has its own ticker, its own bonding curve, and its own reserves. The market is priced in OCT.

#Launching a token

BondingCurveMarket.launch(ticker, name, image_cid)

To launch, you pay a launch fee in POKE. Part of the launch fee is burned and part goes to the Pipoke treasury. The split shares are contract settings. The ticker has a length limit and must not already be taken.

On launch, the token's full supply is set. A creator allocation goes to you, the launcher, and the rest is placed on the bonding curve as the tradeable supply. The size of the creator allocation is a contract setting.

#Trading on the curve

A bonding-curve token trades against a curve, not an order book. Buying takes OCT in and gives tokens out; selling takes tokens in and gives OCT out. The price moves along the curve as the reserves shift, so each buy nudges the price up and each sell nudges it down.

BondingCurveMarket.buy(ticker, min_tokens_out)
BondingCurveMarket.sell(ticker, tokens_in, min_oct_out)

Both buy and sell take a slippage guard (min_tokens_out, min_oct_out) so a trade reverts if the curve has moved against you past your tolerance. A trading fee is taken on each trade and accumulates in the token's fee pool, which the token's creator can withdraw. The market also exposes quote_buy and quote_sell so the app can preview a trade before you sign it.

Launched tokens also support transfer, grant, and pull so they can move between wallets outside the curve.

#Graduation

A token does not stay on the early-stage curve forever. When it has proven traction it graduates to a steadier market.

A token graduates once it clears all of:

Threshold	What it measures
Holder count	The number of distinct wallets holding the token.
OCT raised in reserve	The OCT accumulated in the curve's reserve.
Age since launch	The epochs elapsed since the token launched.

Each threshold is a contract setting. Graduation is checked automatically on every trade and transfer. Once a token graduates, its trading fee drops to a lower graduated rate, which makes a mature, well-held token cheaper to trade than a freshly launched one. Graduation is a one-way milestone: a graduated token stays graduated.