Buying and selling

A bonding curve is a contract that sells tokens at a price set by a formula. Every buy takes tokens off the curve and moves the price up. Every sell returns tokens to the curve and moves the price down. The curve always has ETH to buy tokens back, so you can sell to it at any time until the token graduates.

The curve sells 800 million tokens in total. The price climbs steadily as they sell: the last token on the curve costs 16 times as much as the first. When the last one is sold, the token graduates and the curve closes.

Buying on the curve is also how you join the crew. Every token you buy there counts toward your share of the crew fee for as long as you hold it.

Every buy and every sell pays a 1% fee in ETH. On a buy it is 1% of the ETH you pay. On a sell it is 1% of the ETH the sale returns, taken before it reaches you. The fee is split between the creator, the crew and the protocol. See Fees and rewards.

Bots try to buy the moment a token launches. To make that unprofitable, curve buys in the first 5 seconds after launch pay an extra tax on top of the fee. It falls every second and is gone from the fifth second.

• Time is counted in whole seconds from the launch, using block timestamps.
• The tax is charged on the ETH left after the 1% fee.
• The tax goes to the protocol treasury. It is never paid to the crew, so a sniper cannot earn it back as rewards.
• The creator buy in the launch transaction is the only buy that skips it.
• While the tax applies, the trade panel shows the current rate and the amount you would pay.

• Minimum curve buy: 0.0001 ETH. Smaller buys on the curve are rejected. Buys in the pool after graduation have no minimum.
• Slippage. Prices can move between the moment you submit a trade and the moment it lands. You set the most you are willing to lose to that movement (2% by default). If the price moves further, the trade fails and nothing is spent apart from the network fee. High slippage settings make your trade an easy target for sandwich bots.
• The last buy on the curve. If your buy is bigger than what is left on the curve, you get the remaining tokens, the unused ETH is refunded in the same transaction, and your buy graduates the token.

You can sell to the curve before graduation and in the pool after it. Selling tokens you bought on the curve reduces your crew share for good, and forfeits the same part of your unclaimed rewards to buyback and burn. Transferring them to another wallet counts the same way.

If you hold more tokens than your crew balance, for example tokens you bought in the pool, you can sell that extra amount without touching your crew share. See The crew.

Once a token graduates, the curve closes and trading moves to its Uniswap V4 pool. The trade panel on the token page switches over by itself. The 1% fee still applies to every buy and sell in the pool, and the pool charges no other fee on top.

You can also reach the pool through other apps, such as aggregators and Uniswap's own routers. Trades that go through the Cru pool pay the same 1% fee, whichever app sends them.

Anyone can create a separate pool for a Cru token, on Uniswap or elsewhere. Trades in those pools skip the 1% fee, so they pay nothing to the creator or the crew. The crew rules still apply there, because they live in the token itself: selling crew tokens in any pool forfeits your share in the same way.

Buying in the pool gives you tokens, and they are yours to hold or sell, but they never add to your crew share.