The bonding curve, precisely

The primary sale prices tokens on a constant-product curve over virtual reserves. Every buy moves the price up; every sell moves it down. All net proceeds stay escrowed in the curve until graduation, which is why holders can always exit.

Price continuity at graduation

The virtual reserve is derived on-chain as T0 = offering² / (offering − reserve). This single formula guarantees the Uniswap pool opens at exactly the curve's final spot price. No gap, no cliff, no arbitrage window at the hand-off.

Quotes

The app quotes buys and sells by calling the contract's view functions directly, so what you see is what the chain will execute. Subject only to trades that land before yours, which is why a slippage tolerance applies.