The bonding curve
When a coin launches on 2hour.fun, there’s no order book and nobody setting a price. Its price follows a simple rule called a bonding curve. Every new coin starts with its whole supply held by a smart contract: the curve. When someone buys, they get tokens from the curve and the price goes up a little. When someone sells, tokens go back to the curve and the price comes down. The more that has been bought, the higher the price.Market cap
Market cap (MC) is the price of one token multiplied by the total supply. Every coin on 2hour.fun has a fixed supply, so market cap is an easy way to compare coins whose per-token prices look very different. Price alerts are set by market cap for the same reason.Example: a coin with 1,000,000,000 tokens at $0.00001 each has a market cap of $10,000.
Graduation
Each curve has a set size. When it has been bought out (watch the progress bar on each coin), the coin graduates. Its liquidity moves into a pool on a decentralised exchange in the same transaction:- Robinhood Chain: a Uniswap pool.
- Solana: a Raydium pool.
Locked liquidity
At graduation the pool’s liquidity is locked for good. Nobody, not the creator and not 2hour.fun, can withdraw it. That removes one common way a coin is “rugged”.Why prices move so fast
- New coins usually have little money in them, so one big buy or sell moves the price a lot.
- A few large holders selling can bring the price down quickly. The safety badges show how concentrated a coin is.
- Past moves don’t tell you what happens next.