Introduction

WAX.FUN is a fair-launch token creation platform with no presale or team allocation. All created tokens are designed according to the same rules; the only difference is that users define name, description, ticker, token image, and optional fields such as website and social networks (telegram, x).

Bonding curve, state transition, and more

When a new token on WAX.FUN launches, its trading mechanics are dictated by a bonding curve where the token's price (a meme coin) is a function of the circulating supply. Once liquidity reaches a certain point, the token becomes tradable and will be automatically moved into Alcor Swap, and LP will be burned. That target value is calculated in the WAXP token.

We take $21,000 as a target market cap and divide it by the price of the WAXP token at the time of creation. In other words, we let users buy 800M tokens out of 1 BLN supply before listing on Alcor Swap.