The launchpad lets anyone create a token and have it trade immediately on a bonding curve, no listing, no permission, no presale. When enough BWICK has been raised on the curve, the token “graduates”: its remaining tokens and the raised BWICK are deposited into the AMM as a real liquidity pool.

​
The lifecycle

1

Create

A creator calls the launch message. The contract instantiates a standard CW20 token with a fixed 100,000-token supply and sets up a bonding curve for it. Opening valuation is ~$1,000.
2

Trade on the curve

Anyone buys and sells against the curve. Price rises as tokens are bought and falls as they are sold, deterministically, there is no order book and no counterparty needed.
3

Graduate

Once cumulative BWICK raised hits the graduation threshold, the curve closes and the contract seeds an AMM pool with the reserved tokens + the raised BWICK. Trading continues on the AMM from there.

​
The bonding curve

It is a constant-product curve (the same x * y = k shape as Uniswap and pump.fun), run against virtual reserves so a brand-new token starts at a sane price instead of zero. Each token’s curve stores virtual_bwick_start, virtual_tokens_start, and the invariant curve_k = virtual_bwick * virtual_tokens. A buy adds BWICK to the reserve and removes the tokens that keep k constant; a sell does the reverse. You can read the exact arithmetic in contract.rs (calculate_buy / calculate_sell).

​
Where the supply goes

Of the 100,000 tokens minted at launch:
AllocationTokensShare
Sold on the curve79,31079.31%
Reserved for the AMM LP at graduation20,69020.69%
Buying out the curve raises the configured BWICK target, and that raised BWICK is what seeds the liquidity pool at graduation. So the BWICK actually taken out of circulation per launch is the raise, not the token’s headline market cap.

​
Graduation is BWICK-denominated

A token graduates when its BWICK raised crosses the threshold, not when a USD figure is hit. The threshold is set at deploy time and ratchets (only ever increases) per curve. This is why graduation is unaffected by oracle staleness: it is measured in BWICK that genuinely flowed in, not in a price estimate.

​
Fees and limits

  • Buy/sell fees are configurable in basis points and hard-capped by the contract (buy ≤ 5%, sell ≤ 10%); a share goes to the token’s creator (creator_fee_share_bps).
  • A creation fee is charged to launch a token.
  • A max-wallet cap (max_wallet_bps, currently 2.25% of supply) limits how much any single address can hold, checked on every buy by querying the CW20 balance. Set to 0 to disable.

​
Interface

The full set of messages, launch, buy, sell, query curve state, graduate, admin config, lives in msg.rs. The handlers that enforce all of the above are in contract.rs.