Social tokens launched on perps. use a piecewise bonding-curve lifecycle.
Token Lifecycle
Creator launches token.
Token is traded on a bonding curve.
Graduation occurs when curve distribution target is reached.
Perpetual market creation flow is triggered on graduation.
Current Graduation Rule
Graduation is supply-based:
Trigger point: 90% of curve supply sold.
This is not directly triggered by a raw USDC threshold.
Curve Configuration (Current)
Total supply: 100,000,000 tokens.
Curve supply: 80,000,000 tokens.
Reserved supply: 20,000,000 tokens.
The curve is tuned so the net collateral trajectory to graduation is approximately ~$7.5k under current parameters, with rounding tolerance.
Launch Gating
Creator-token launch is now gated by linked identity. In the hardening branch, the launch page checks whether the user has at least one linked Privy social account and a selected primary creator identity before allowing token creation.
