> ## Documentation Index
> Fetch the complete documentation index at: https://docs.cooket.fun/llms.txt
> Use this file to discover all available pages before exploring further.

# Bonding curve

> Shifted constant-product quoting and trade accounting.

Each launch has a dedicated `CooketCurveV3`. The invariant uses virtual reserves:

```text theme={null}
K = virtual token reserve × virtual native-USDC reserve
```

The active reserve is real native-USDC principal available for curve redemptions before graduation. It starts at zero. The virtual native-USDC coordinate is `2,415 USDC + active reserve`; the virtual token coordinate is the initial virtual token reserve minus sold supply.

## Buy accounting

For gross native-USDC input `G`:

```text theme={null}
total fee = floor(G × 100 / 10,000)
net curve input = accepted gross - total fee
active reserve after = active reserve before + net curve input
```

Token output rounds down through the shifted constant-product calculation. The post-trade virtual token reserve uses ceiling division, preventing output from exceeding the contract-defined boundary. At the terminal boundary the quote returns all remaining curve inventory.

## Sell accounting

The curve computes a gross reserve output from the reduced sold supply. That amount is removed from the active reserve. The 1% fee is calculated on the gross curve output, and the seller receives gross output minus the fee. Token input and native-USDC output round conservatively; dust trades revert.

Buys and sells include minimum-output and deadline checks. After graduation, both quote functions and curve trading revert with `TradingClosed`.

Forced native value is reported as unaccounted native USDC and is excluded from reserve coordinates, quotes, and spot-price calculations.