> For the complete documentation index, see [llms.txt](https://docs.topstrike.io/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.topstrike.io/game-and-mechanics/price-mechanics.md).

# Price Mechanics

TopStrike uses a bonding curve to set player prices. Every buy or sell automatically adjusts the player's price with no order books, no spread-based front-running, and no delays.

**Buy → price increases**

**Sell → price decreases**

This creates a fair, transparent, and predictable market where demand drives value.

## How the Bonding Curve Works

Each player has a continuously updating price based on the total number of cards currently in supply.

The price is determined by a transparent onchain formula, not by other traders setting bids or asks.

As circulating supply rises:

* Price increases smoothly (quadratic curve)

As circulating supply falls:

* Price decreases smoothly

This ensures:

* One-tap execution
* No manual matching
* Equal access for every trader

## Bonding Curve Price Ladder

Below are real example prices of a single card at various supply milestones. These illustrate how the bonding curve steps up as more cards are bought.

| Card Number | Price (ETH) |
| ----------- | ----------- |
| 40th card   | 0.0072 ETH  |
| 50th card   | 0.0108 ETH  |
| 60th card   | 0.0151 ETH  |
| 70th card   | 0.0194 ETH  |
| 80th card   | 0.0253 ETH  |
| 90th card   | 0.0327 ETH  |
| 100th card  | 0.0395 ETH  |
| 120th card  | 0.0567 ETH  |
| 140th card  | 0.0760 ETH  |
| 160th card  | 0.0977 ETH  |
| 180th card  | 0.1228 ETH  |
| 200th card  | 0.1508 ETH  |

**What this shows:**

* Early cards are significantly cheaper
* High-demand players rise fast in price
* Price steps are smooth and predictable
* No surprise jumps — all curve-based

## Selling

When cards are sold:

* Circulating supply decreases
* Price moves down the curve
* Each sale lowers the price slightly

Selling pressure drives prices lower in a measured, predictable way.

## Price Formula

You don't need to know the maths — but conceptually:

* Price grows relative to supply²
* More supply → higher price
* Less supply → lower price

This quadratic curve ensures smooth movement, no manipulation, and fair entry and exit for all traders.

## Fees

Fees apply on **sales** and **IPO purchases** only. Regular buys after IPO have zero fees.

**Sale fees are split as follows:**

| Destination      | Percentage |
| ---------------- | ---------- |
| Prize Pools      | 6%         |
| Protocol         | 1.9%       |
| Referral Rewards | 1%         |

See [IPO (Initial Player Offering)](/game-and-mechanics/new-player-offerings.md) for IPO-specific fees.

## TL;DR

* 💹 Buy → price up
* 📉 Sell → price down
* 📈 Prices rise with demand (smooth curve)
* ⚡ Instant execution — no order book
* 💰 Early buyers get the best prices