How Loxley Works

The basics: what is a bonding curve token?

A normal token needs someone else to trade with you. A bonding curve token doesn't — its price is set by a formula built into the contract. Buy, and the price goes up for the next buyer. Sell, and it goes down. There's no order book and no other traders required, just you and the curve.

Virtual ETH vs. real money — the part that trips people up

When you create a token, the field "Virtual ETH Baseline" is not real money. Nothing leaves your wallet when you set it — it's just a number that decides the starting price of your curve, a starting point you're choosing, not a deposit you're making.

"Total Token Supply" is different — that one's real. It's the actual, final number of tokens that will ever exist for this token, split between the buyable LP pool and your dev-held allocation (see below). Only the ETH side of the curve is fictional at launch; the token supply is not.

Real ETH only enters the pool once an actual buyer sends ETH through the "Buy" button. That ETH is tracked separately as Real ETH on the token page — this is the only money that's actually in the contract.

Creating a token

• Virtual ETH Baseline — sets your curve's starting price. No real ETH involved, per above.
• Total Token Supply — the real, final token count. No more can ever be created beyond this number.
• LP Allocation % — this splits your Total Token Supply into two piles: your % becomes tokens people can actually buy through the curve. The rest is reserved as dev-held supply, which you can mint to your wallet later from Creator Controls — it never touches the curve or the buyers.
• Buy Fee % / Sell Fee % — an optional cut taken on every trade, held in the contract until you withdraw it from Creator Controls. Defaults to 0%, and you can change it any time after launch from the token's Creator Controls panel.

Buying and selling

Buying always works, even the instant a token is deployed with zero real ETH in it — the virtual numbers alone are enough for the curve to quote a price. When you buy, your ETH is what actually fills the pool.

Selling is capped by whatever real ETH is currently in the pool. If you're an early buyer, there's real ETH from prior buys for you to sell back into. But if the pool gets drained — for example, the creator mints a big dev-held supply and dumps it, pulling most of the real ETH out — later sellers can find there's nothing left to sell into. That's the actual mechanic behind a "rug pull," and it's why this site shows Real ETH and the inflation ratio front and center instead of hiding them.

Ownership and trust

Whoever deploys a token starts as its owner, with access to Creator Controls: minting dev-held supply, changing fees, and withdrawing accumulated fees. Every token page shows its current owner publicly, so anyone can check who's still in control.

There is no backdoor that lets the owner drain the pool directly. The only ways real ETH ever leaves the contract are sell() — the same curve mechanics any holder uses, owner included — and withdrawing accumulated fee revenue, which is tracked completely separately from the real ETH backing buyers' tokens.

A creator can permanently renounce ownership — this is irreversible and disables all of the above forever, including for the original creator. It's the strongest trust signal available on this platform: once renounced, nobody can mint more supply, change fees, or pull anything out beyond normal buy/sell.

Reading the warning signs

Every token card shows a Liquidity Inflation Ratio — how much bigger the displayed (virtual) liquidity is compared to the real ETH actually backing it. A high ratio (flagged with ⚠️) means the displayed numbers are mostly fiction. Before buying anything, check: the inflation ratio, whether ownership has been renounced, and how much Real ETH is actually in the pool.