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

# Launchpad

> Customizable bonding curves and token launch mechanics

## Overview

Token Layer's launchpad provides a flexible, fair, and efficient way to launch tokens using customizable bonding curves. Unlike traditional liquidity bootstrapping or fixed-price sales, the launchpad allows creators to configure launch parameters to match their goals.

## How the Launchpad Works

### Bonding Curve Mechanism

The launchpad uses a **bonding curve** to determine token prices:

<Card title="Bonding Curve Pricing" icon="chart-line">
  Token price increases algorithmically as more tokens are purchased, creating natural price discovery during the launch phase.
</Card>

**Key Benefits:**

* **Instant Liquidity**: No need to provide upfront liquidity
* **Fair Launch**: Price determined by demand
* **Automatic Price Discovery**: Market finds equilibrium
* **No Rug Pulls**: Liquidity locked in curve until graduation

### Launch Phases

<Steps>
  <Step title="Launch Phase">
    Tokens are bought from the bonding curve

    * Price increases with each purchase
    * Instant execution on the curve
    * No slippage within curve
  </Step>

  <Step title="Graduation Trigger">
    When specific conditions are met:

    * Target supply threshold reached
    * Graduation price achieved
    * Time limit reached (optional)
  </Step>

  <Step title="DEX Migration">
    Liquidity automatically migrates:

    * Pooled to Uniswap V3 / PancakeSwap / Meteora
    * Token becomes freely tradeable
    * Price discovery shifts to market
  </Step>
</Steps>

When the bonding curve reaches the target price, the token graduates and migrates to external DEX.

**Considerations:**

* Higher price = more capital raised
* Lower price = faster graduation
* Market will determine if price is achievable

Track launch progress:

* **Tokens Sold**: How many of sale amount purchased
* **Current Price**: Current bonding curve price
* **Capital Raised**: Total stablecoins collected
* **Participants**: Number of unique buyers
* **Progress to Graduation**: Percentage to threshold

All metrics available via dashboard and API.

## Need Help?

Click the chat icon in the bottom right corner for launchpad configuration assistance.