Introduction

Token Mill is LFJ's token launcher. Currently only on Solana. These docs are about TM V2, the second iteration of Token Mill.

Bonding Curve

Token Mill V2 bonding curve is the combination of 2 Uni-V3 style pricing curves, called pool A and B. Pool A will be in effect until 80% of the total supply is minted, and pool B for the rest, mimicking a graduation event. Those pools use two different virtual liquidity amounts, that will change the pricing dynamic when switching from one to the other.

There is no graduation event for Token Mill tokens

Depending on the current supply, the market will switch back and forth between both pools.

King of the Mill

Token Mill V2 allows creators to redirect their share of swap fees to a fee pool, that will be used for a buyback program called King of the Mill (KotM). Every 30 minutes, fees accumulated will be used to buy some of the top tokens.

To opt in and out of the program, market creators can set the market fee_reserve to an account they control, or to None, which will send the fee to the config creator_fee_pool used for the KotM program. Setting the market fee reserve has a time cooldown, to avoid gaming the system.