The Furnace

Bonding curves

Each launched token gets its own on-chain bonding curve contract. Price is determined by a virtual constant-product reserve model — buys push price up, sells push price down.

Buying

Send ETH to the curve's buy function. You receive tokens based on the current reserve state minus fees. Slippage protection is available via minimum tokens out.

Selling

Approve the curve to spend your tokens, then call sell. You receive ETH back minus fees.

Before graduation

All trading happens on the curve. The token page shows live market cap, reserve, graduation progress, and a chart that samples on-chain mcap over time.

After graduation

Once the curve target is hit, the token graduates to Uniswap V3. On-chain trading on the curve stops; use the Uniswap link on the token page.

Instant pools (WETH, USDG & Ponzi)

Tokens launched via the Instant DEX pool path trade directly on Uniswap V3 — no graduation step. The token page swap panel matches the pair:

WETH pairs — buy/sell with ETH (toggle USD estimate in the UI).
USDG pairs — buy/sell with USDG stablecoin; amounts shown in dollars.

Indexers may take a few minutes to pick up new USDG pools. Until then, Foragepad reads on-chain pool state for price and market cap.

Ponzi (high-tax) tokens

Ponzi-profile tokens charge a transfer tax on wallet-to-wallet sends. Swaps through the Uniswap pool are exempt. Tax revenue splits between holders (pro-rata) and the creator. Holders claim on the token page via Holder Rewards.