pump-bonding-curve

Pump token pricing is calculated using the constant-product x*y=k formula, which leverages virtual SOL and virtual token reserves to produce deterministic, fee-aware buy and sell quotes.

Fee deduction applies a pre-fee stripping mechanism before calculating the final quote, preventing dust accumulation and mispricing while maintaining accurate tiered-fee handling for market-cap based thresholds.

Virtual reserves are used exclusively for constant-product pricing math, while real reserves track actual token balances, ensuring clear separation and safeguards for edge cases in active and migrated curves.

Market-cap tiering applies graduated fee structures based on total valuation, triggering migration to PumpAMM pools once the bonding curve graduates from its active pricing state.

BN-based arithmetic ensures precise constant-product calculations for Solana bonding curves, accurately handling large integer math required for deterministic token pricing and reserve management.

Dust and mispricing occur when fees are not properly stripped before calculating the constant-product quote, which this module prevents by implementing pre-fee deduction and tiered-fee handling.