> For the complete documentation index, see [llms.txt](https://docs.trench.express/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.trench.express/trench-express/overview/unique-token-launch-mechanism.md).

# Unique Token Launch Mechanism

Every token on Trench Express follows the same fair, transparent lifecycle — no presale, no team allocation, no seeded liquidity pool. The entire supply is minted onto an in-house bonding curve at creation, and the market decides the rest.

The mechanism has three stages:

1. **Launch** — A creator deploys a token with a fixed supply of **1,000,000,000** tokens, minted in full onto a bonding curve. Trading is open immediately.
2. **Price discovery on the curve** — Buyers and sellers transact directly against the curve, a virtual constant-product AMM embedded in the smart contract. Price rises as tokens are bought and falls as they are sold, with no external liquidity required.
3. **Graduation** — When a token's fully-diluted valuation reaches the graduation threshold (**40 ETH**), the curve freezes and the token graduates: its accumulated ETH and a matching amount of tokens are deployed as **permanently locked** liquidity on Uniswap v3. From that point the token trades on the open market like any other.

The pages that follow break down each part of this mechanism:

* [How It Works](/trench-express/overview/how-it-works.md) — the step-by-step experience for creators and users.
* [Bonding Curve and Liquidity Deployment](/trench-express/overview/bonding-curve-and-liquidity-deployment.md) — how pricing and graduation actually work.
* [Fee Structure](/trench-express/overview/fee-structure.md) — the fees involved at each stage.
* [Token Security](/trench-express/overview/token-security.md) — what makes every launch safe by construction.


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