the opening bell
one price for the whole first minute.
When a coin goes live, nothing trades for 60 seconds. Everyone who wants in commits during that minute, and at the bell every commit fills at the same price. Landing in block 0 or paying a bigger tip gets you exactly what the person who joined at second 59 gets.
- window
- 60 seconds from the moment the coin goes live. The mint is created privately, so nobody sees it early.
- price
- One clearing price for every fill: the average price of the curve segment the opening buys.
- size
- Up to 25% of the curve sells in the opening. Oversubscribed means pro-rata fills and refunds in the same transaction.
- caps
- 1% of supply per wallet. Linked wallets share one cap.
- unlock
- Opening fills unlock over 10 minutes, so nobody can dump the first candle.