How Tribehold works

Every token starts on the same fair bonding curve: no team allocation, no gatekeepers, and the liquidity locks in an ownerless pool when it graduates.

Launching a meme, in detail: the curve, the two caps, the burn and the fair-launch window →

1. Launch

Anyone mints a token. The creator picks the total supply between 1,000,000 and 1,000,000,000,000; supply only changes the price per token, the market cap path is the same for every token. Every token goes into a bonding-curve pool; the creator gets nothing for free and can buy alongside everyone else. Creation costs 6 ADA plus the network fee.

2. Trade on the curve

Price follows a constant-product curve with a virtual reserve of 2,550 ADA, so every token starts at the same market cap. Buys push the price up, sells bring it down, and the pool can always pay you back. Each trade pays a platform fee of 1.00% + 0.5 ADA and a creator fee of 0.30%. Fees accrue inside the pool and are flushed to the treasury and the creator automatically.

The bonding curve

₳ per EXAMPLE

The price is this line, not an order book. Buying moves right and up, selling moves left and down.

Price now: 0.0000121 ₳
ADA raised: 3,000 ADA
Still needed to graduate: 7,715 ADA

An example: a billion units, a 2,550 ADA virtual reserve and a 10,715 ADA target, about a quarter of the way there. Every token's page draws its own line from its own frozen numbers, marks where it stands, and marks where the trade you are typing would leave it. This testnet deployment graduates far sooner, so a real token here covers only the first, almost straight, part of the line.

3. Graduate

When the curve has raised 500 ADA, it closes. The raised ADA and exactly the tokens that pair with it at the final price move into Tribehold's own AMM contract (not an external DEX) with no owner, no LP tokens and no withdrawal path. Surplus tokens are burned. Nobody, including us, can pull that liquidity.

4. Keep trading

The AMM charges 0.30% that stays in the pool, 0.15% to the platform and 1.00% to the creator.

Fees live on-chain

All numbers above come from a single settings UTxO that every pool reads as a reference input. The platform admin can raise or lower them at any time with one transaction; the change is public and applies to the next trade. Curve parameters of an existing token (virtual reserve, graduation target) are frozen in its pool datum at launch, so rules never change under a running token.

Can a creator mint more later?

No, and it is not a setting anyone can flip. A token's minting policy here is parameterised by one specific UTxO of the creator's wallet, and the launch transaction spends it. A UTxO can be spent once, so the policy could only ever run once: the supply minted at launch is the supply forever, for the creator, for us, for anybody. That is what lets the curve promise a market cap at all.

Burning is open. Anyone may burn tokens they hold — the policy allows a negative mint and nothing else. Graduation itself burns the surplus that cannot be paired with the raised ADA.
The supply shown is read back from the chain, not assumed, so a burn by a holder shows up on the token page beside the burn at graduation.
An asset that must be re-issued does not fit this policy. A fund that takes in more gold, or a project with a treasury unlock, needs an issuer-controlled policy, which is a different promise and would carry a different badge. It is designed, not built, and it will never be quietly mixed with a fixed-supply curve token.

Real-world assets

A real-world asset token says that a unit on the chain stands for something off it: a gram of metal, a share of a receivable, a unit of a fund. The chain can enforce the supply and the price, and it cannot enforce that the thing exists. Tribehold's answer is to make the claim explicit, publish it beside the token, and be plain about what is checked and what is not.

An issuer states, at launch and in full: the legal entity, the jurisdiction it is registered in, how the asset is held (fund, SPV, trust), the custodian or an attestation, a link to the documents, and a way for holders to reach them. The launch is refused without them.
Those words are published on the token's page as the issuer's claim, marked as unchecked. The Regulated issuer badge is the only line that means we reviewed anything, and it is asked for after launch, like every other trust tier.
The token itself trades exactly like the others: the same curve, the same fair-launch window, the same graduation into the same locked pool. Nothing restricts who may hold or trade it today.
What is designed and not built: transfers restricted to verified holders (allowlist validator now, CIP-113 programmable tokens later), redemption flows, and a price fed by an attested net asset value, which is the one place this platform would need an oracle.
Legal reality, said once: a token that behaves like a financial instrument brings prospectus and MiCA questions with it, and those sit with the issuer. Tribehold publishes claims; it does not bless them.

What comes next

Trust tiers: verified team and audited token, with on-chain proofs shown on the card.
Project sales via a liquidity bootstrapping event (Minswap LBE v2 contracts): price discovered at the end, min/max raise, penalties for late withdrawals.
Order book and batcher for busy tokens, raises in stablecoins, creator dashboard, public API.