# How bonding curves work

Chimpx uses a **progressive bonding curve**.

Early buyers get a cheaper entry. Later buyers pay more as demand builds.

### How pricing changes

Every buy pushes the token further up the curve.

That means:

* early buys get more tokens for the same APE
* later buys get fewer tokens for the same APE
* strong demand moves price quickly

This is the whole point. Early conviction gets the best price. Later entries get more proof that the token has traction.

### How sells work

Sells move through the same curve in reverse.

If selling pressure is heavy, the quote can drop fast. That is normal for curve trading.

Chimpx takes a **0.75%** platform fee on each buy and sell during this phase.

{% hint style="warning" %}
Bonding curves can move hard on larger orders. Always check the preview before you confirm.
{% endhint %}

### Why this model is fair

Every trader uses the same public curve.

There is:

* no presale
* no team allocation
* no private entry price

### Graduation

When a token reaches **14,228 APE** raised, it graduates automatically.

At that point:

* the bonding curve ends
* liquidity is created on Camelot
* LP tokens are permanently burned

### Next steps

Read [Launch a token](/launch-a-token.md) if you want to create one.

Read [Buy and sell tokens](/buy-and-sell-tokens.md) if you want to trade one.


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