Participant Guide
A participant should not need to understand every smart contract detail to read the basic shape of a launch. The token page is designed to answer the first questions quickly.
Before buying, participants should identify the creator, chain, ticker, contract address, market cap, holders, chart, recent trades, graduation progress, and any visible launch mechanics such as Creator Supply or buyback and burn.
During bonding-curve trading, buys and sells happen against the curve. Price can move quickly because each trade changes the reserve state. The trade preview, slippage controls, fees, and balance display are there to prevent accidental actions.
After graduation, trading moves toward the external DEX path for the chain. The token page remains the reference point, but liquidity, execution, and fees may behave differently than during the curve phase.
Before buying
Check the contract address and chain. A Solana token and a Base token have different wallets, explorers, and execution paths.
Read the creator line and social links. A known creator is not a guarantee, but anonymous context and verified context are different risk profiles.
Look at the chart and trades. Early volume can be noisy, especially inside the anti-sniper window.
Check mechanics badges. Creator Supply, vesting, and buyback and burn can change how participants interpret incentives.
Understand fees. Normal bonding-curve trades carry a 2% total fee, and the early anti-sniper window starts higher before decaying.
When trading
Use trade previews instead of typing and confirming blindly.
Check estimated tokens received or quote received after fees.
Keep slippage tight enough to avoid bad execution but realistic enough for fast-moving launches.
Remember that a fast chart is not proof of quality.
Treat market cap, holders, volume, and graduation progress as signals, not guarantees.
After buying
Portfolio value should include native SOL or ETH plus token holding value.
Holdings can change quickly as the curve price changes.
Graduation does not remove risk. It changes the trading venue and liquidity structure.
Creator activity after launch matters. A token with no ongoing story can lose attention quickly.