> For the complete documentation index, see [llms.txt](https://docs.blacksail.finance/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.blacksail.finance/faq/what-is-a-bonding-curve.md).

# What is a Bonding Curve?

A **bonding curve** is a pricing mechanism that determines the price of a token based on its supply. As more tokens are bought, the price per token generally increases according to a pre-defined mathematical function (e.g., linear or exponential). This approach creates a dynamic, automated pricing system that reflects demand.