> For the complete documentation index, see [llms.txt](https://hfun.gitbook.io/hypurr-fun-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://hfun.gitbook.io/hypurr-fun-docs/hpump/hpumpcore.md).

# HpumpCore

The **Hpump Market** operates on a **bonding curve model**, allowing tokens to build liquidity and establish a fair price before being launched on HyperCore or HyperEVM. 

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## Bonding Curve Overview

The bonding curve model is inspired by **Uniswap V2’s Constant Product Market Maker (CPMM)** and uses the formula: **X ⋅ Y = K**

#### Key Components:

* **X (USDC)**: Represents the amount of USDC inflow during token purchases.
* **Y (Tokens)**: The number of tokens available for sale.
* **K**: A constant value ensuring the bonding curve remains balanced.

#### **Threshold Formula for Bonding**

For a launch token to bond and be listed on HyperCore, the following condition must be met: **X⋅0.65 ≥ Auction Price**

This ensures that sufficient USDC has been accumulated in the bonding curve to pay for the gas cost and seed initial liquidity in the buy-side order book.

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### **How It Works**

1. **Market Dynamics:**
   * As buyers purchase tokens, **X (USDC)** increases while **Y (tokens)** decreases.
   * **For example:**
     * Initial Parameters: X0=500; Y0=1,000,000; starting price = $0.0005.
     * After $99,500 net inflow: X=100,000, price = $0.10.
2. **Bonding Trigger:**
   * Once X⋅0.65 reaches the auction threshold (e.g., $65,000), the token is **automatically created**.
   * However, the **token creator** **must** **manually deploy the trading pair**, giving them the flexibility to launch their token on Hyperliquid at their preferred timing.
3. **USDC Allocation:**
   * **65% (Auction Price):** Pays the gas cost for deploying the token.
   * **35% (Remaining USDC):** Automatically added to the HIP-2 liquidity pool, creating a reliable buy-side market.
4. **Airdrop to Buyers:**
   * Once bonded, early buyers receive a **proportional airdrop** of the actual token.
   * This is sent directly to their **Hypurr Fun bot wallet**.