Trade on the bonding curve

Buy with KAS, sell for KAS, at the exact curve price.

Open a token from Explore and use the trade box (on phones, the Buy / Sell bar at the bottom opens it as a sheet).

Buying

Type any amount of KAS (1, 2, 3 KAS and up) or tap a quick amount. Tokens are sold in whole blocks of 1,000, so the app buys the most whole blocks your KAS covers, never more than you typed: whatever is left over (less than the next block’s price) stays in your wallet, and the box says how much (X KAS unused stays in your wallet). If your amount does not cover one block, the box says what the next 1,000 tokens cost. The Pay field never holds more than the buy can spend right now: the cost of the most one buy may take (the tokens left on the curve), or what your wallet covers after the deposit, the network fee and your slippage. Typing more lowers it to that amount. Tap your balance to fill the most your wallet can buy. When the tokens left on the curve set the limit, a line under the field says so (Max per buy right now), and tapping it fills that amount. Quick amounts follow the curve and its price: on a Standard curve 1k / 3k / 5k / 10k KAS; older tokens with 100,000-token blocks keep 1k / 3k / 5k / 10k KAS. The quote shows:

Amount of tokens and the average price.
Curve fee (1%) of the trade’s KAS.
Network fee (est.).
KAS deposit (5 KAS): your new tokens arrive in their own UTXO, which carries this deposit. You get it back when you sell.
Total, and Max you’ll pay at your slippage setting.

Selling

Type a token amount, or tap your token balance under the field to sell everything you hold (on the curve, every whole block), then press the main button. A sell never takes more than you hold. On the curve a sell rounds down to whole blocks of 1,000 and the app says so. Under the field the box shows the minimum sell: the fewest tokens whose payout after the fee is at least 0.1 KAS, the smallest payout the curve makes. The quote shows what you receive after the 1% curve fee, plus the returned deposit, and Min you’ll get at your slippage.

Two small amounts cannot be sold to the curve. Less than one block (1,000 tokens): a remainder you received from someone else stays in your wallet. A payout under 0.1 KAS: near the start of a curve a few blocks can be worth less than that. Neither is lost. The KAS those tokens cost stays in the curve, so they become sellable as the price rises or as you buy more, and they trade on the pool after graduation.

When buys are paused

Your browser checks every token’s launch proof. Until the proof is bound (for example while the indexer cannot serve the launch transaction), nothing yet proves that the token’s curve is the only one holding its supply, so the app pauses buys and says why. Holders can still leave, but not with the normal Sell button: the app cannot then verify that the curve or pool the sale goes to is the token’s own, so selling is a separate Exit anyway action. It warns you, asks you to confirm, and marks the review Venue not verified; check the amounts in your wallet before you sign.

Once the proof is bound, the app builds trades only on the curve that proof names. If it were ever pointed at another curve, even one running the same contract, it refuses to build the trade and your wallet is never asked.

Exact price and slippage

A curve trade is built against one exact curve state, so the quote is the price. If another trade lands first, your transaction is refused, nothing is charged, and the app rebuilds it at the new price. Your Max slippage (the Slippage chip: default 2%, from 0.5% to 10%) caps how far the price may move: a rebuilt trade past it is not sent until you approve the new limit.

If the price moved 1% or more against you since you approved, the app stops and shows the old and the new total before your wallet is asked again. Approve only if the new figure is fine; cancelling charges nothing.

Retries and Approve again

Up to 5 attempts per click, for at most 30 seconds. While it retries, the trade box shows Attempt n of 5 and why the last one failed, in plain words: Someone else’s trade landed first or The price moved past your limit.
Every attempt needs your signature. A rebuilt trade is a new transaction, so your wallet always asks again. After a small move the first rebuild opens your wallet by itself; later ones wait until you press Approve again.
At most one attempt can land. However many attempts a click makes, you never buy or sell twice.
Raise your slippage? After 3 failed attempts, the app asks once whether to raise your slippage for the rest of this order. It offers only 3%, 4% or 5% above your current setting, each with the most you would pay (or the least you would get), never more than 5%, and nothing changes unless you pick one. It is never raised automatically. Tick Also use it for my next trades to keep the new setting.
If a click runs out of attempts or time, the box says which and offers Try again and Adjust slippage, which opens a new review at a higher setting.

Trading in busy moments

When many people trade at once, the app does not wait for the trades ahead of yours to confirm: it builds your trade on top of them, so yours goes out straight away. If one of those trades does not land, or someone else’s lands first, the network simply refuses your transaction. A lost race costs nothing: nothing is charged, nothing moves, and the app rebuilds the trade at the new price on its own, under the slippage and retry rules above.

After you approve

The review sheet, and your activity in the account panel (click your address in the header), follow each transaction through these states:

Waiting to be accepted: the transaction is sent but not final. Until a block accepts it, it can still lose its race.
Accepted: a block accepted it and the confirmations count up. It is final at 10 confirmations, usually within seconds.
Confirmed: Kasseal shows this only while its own Kaspa node is synced; while the node catches up, a trade stays accepted. About 5 seconds after a trade shows confirmed, the app checks it once more, and in the rare case a reorganisation undid it, the entry says so and follows it again.
Did not go through. Nothing was charged. The transaction was dropped, for example because a conflicting one was accepted first. Nothing left your wallet.

Large trades and price impact

The quote shows the trade’s Price impact: how far your average price is from the price before your trade, fee excluded. When it reaches the curve fee (1%), the line turns amber and a note says the trade is large for this curve. A trade that large is worth trading around: someone can replace your pending transaction with their own buy, let yours land at the higher price, and sell right after. What they can take is capped by your Max slippage. Keep slippage low for large trades, or split them into smaller ones.

No buy limit

From the first block, one buy can take as much of the curve as you want: there is no per-buy cap.

The Curve bar

Under the chart, the Curve bar shows how much KAS the curve has raised against its target, and the percentage. It moves with every trade. When it reaches 100% the token graduates.

Every trade goes through a review sheet: check the figures, approve in your wallet, then follow it to the receipt with a link to the transaction on kascov.