Trading, bids, and commitments
The launch format determines whether your action buys a token immediately or creates a bid or commitment for later settlement.
Bonding curves, auctions, and presales are all live on Base. The field names below match the Stellar vault ABI.
Buy from a curve
A curve buy requests an exact token amount. The current contract returns:
| Quote field | Meaning |
|---|---|
gross | Curve cost before the creator fee |
creator_fee | Additional fee on the buy |
user_amount | Total quote amount you pay |
Set max_payment to the maximum total quote amount you authorize. If the current cost exceeds it, the transaction fails instead of accepting a worse price. A successful buy transfers the token directly to your account.
A quote is a snapshot. Another trade can change the price before yours executes. Review and simulate close to signing.
Sell a curve position
You need both the token balance and a recorded sell-back position for the same address. Request quote_sell(amount) and set min_receipt to the smallest net quote receipt you accept.
A successful sell reduces your position and returns the current curve proceeds after fees. It can return more or less than your original payment. Sell-back is unavailable before opening or after graduation.
Place an auction bid
The auction flow uses a bid price and quantity. Higher-priced bids have allocation priority. A bid is not an immediate fill, and its payment and cancellation rules must be stated in the auction terms.
Price priority, clearing price, and reputation eligibility are separate concepts. See auctions.
Commit to a presale
The presale flow accepts quote-asset commitments at a fixed price. If demand exceeds the available allocation, reputation can prioritize accepted participation. Final allocation can be smaller than a provisional estimate.
Read the published closing, score-snapshot, refund, and participant-vesting rules before committing.
Check the transaction result
A wallet signature or submission response is not final execution. Confirm the transaction result and resulting balances or entitlements on the correct network.
If submission status is uncertain, inspect the existing transaction hash before constructing another payment. Repeatedly submitting new transactions can create repeated purchases.