Spawn Glossary
| Term | Definition |
|---|---|
| Spawn | The first chainless token launchpad - built so communities own the outcome, fairness is enforced by the engine, and tokens earn their place on-chain. |
| The Spawn Engine | Spawn's off-chain bonding curve execution layer. Handles trade execution, price discovery, and settlement during the bonding curve phase. Because it runs off-chain with no public mempool, MEV, bundling, and queue-jumping are architecturally absent. |
| Spawner | Any participant on Spawn - whether initiating a token or trading an existing one. |
| Spawning a Token | The act of initiating a new token on Spawn, setting its parameters, and opening it to the bonding curve market. |
| Spawner's First Buy | The optional first purchase a spawner can make when initiating a token, capped at 3% of total supply. A conviction signal at the same price as everyone else - not a special allocation. |
| Bonding Curve Phase | The off-chain market phase where a token's price is determined by an algorithmic curve tied to supply. Price discovery and community formation happen here before any on-chain deployment. |
| Graduation | The lifecycle milestone where a token transitions from the bonding curve phase to on-chain permanence by reaching the graduation threshold. |
| Graduation Threshold | The market cap milestone a token must reach to graduate: a $100,000 fully diluted valuation (FDV). |
| On-Chain Permanence | The post-graduation state where a token exists as a deployed on-chain asset with seeded on-chain liquidity. |
| Chainless Discovery | Spawn's discovery model: tokens enter one universal market regardless of origin chain, rather than being siloed by ecosystem. |
| Vault | The on-chain USDC vault on Base where all participant funds are held. Non-custodial - Spawn never holds funds in a custodial sense. |
| FDV (Fully Diluted Valuation) | A token's market cap calculated as if total supply were in circulation. Spawn uses FDV for all market cap measurements, including the $100,000 graduation threshold. |
| Bundling | A coordinated attack where multiple wallets acquire large early token supply in order to dump into rising community demand. Architecturally absent on Spawn. |
| MEV (Maximal Extractable Value) | Value captured by reordering, front-running, or sandwiching transactions in a block. Not possible on The Spawn Engine. |
| Holder Dividends | Spawn's default post-graduation fee distribution. The 1% fee on on-chain trades is paid to holders in USDC or tokenized stocks in proportion to their holdings and is claimable at any time. |
| Post-Graduation Strategy | The pool-level incentive model implemented through a v4 hook. A pool can use Spawn's default holder-dividend strategy or a custom hook strategy. |
Usage Rule
Use glossary terms exactly as written for consistency across docs. When introducing a glossary term for the first time on a page, link to this glossary or to the relevant concept page.