The curve sells you the token. A cabal already owns the supply.
One part of the launch is a contract you can read. The other part is the cabal that owns the supply.
Every token sold on a curve is priced by a smart contract that raises the price as more supply goes[1]. That contract is the launch, and it is the part you can read. The other part is the cabal: trench slang for a coordinated insider group that controls a token launch, its supply, and its promotion[2]. It does not have to sell into your buy. It owns the supply you are bidding against. The profit it extracts comes out of your buy[2].
Who gains, who loses
Receipts
The memecoin.wiki lexicon defines a bonding curve as a pricing mechanism in which a smart contract sells tokens along a mathematical curve, raising the price as more of the supply is purchased.
“- Bonding curve A pricing mechanism in which a smart contract sells tokens along a mathematical curve, raising the price as more of the supply is purchased.”
The memecoin.wiki lexicon defines a cabal as trench slang for a coordinated insider group that controls a token launch, its supply, and its promotion, extracting profit from retail buyers.
“- Cabal Trench slang for a coordinated insider group that controls a token launch, its supply, and its promotion, extracting profit from retail buyers.”
CABAL DESK is reporting, written with AI under human oversight. Every bracketed number opens its receipt: the source, the quoted span, the hash. Headlines and characterisations are commentary; the sourced facts are the receipts. Not investment advice. Corrections log. Editorial & legal.