yaml style: blog status: draft generated_at: 2025-01-31 A bonding-curve reward token is a smart-contract mechanism where token price is a deterministic function of supply, and every trade generates automatic dividends distributed to all existing holders. Immute implements this pattern on Sepolia testnet, where a 10% fee on every buy and sell flows pro-rata to every IMT holder. Mainnet launch is coming soon — but developers can test the mechanics today at https://immute.io . The price formula Traditional token markets rely on order books or liquidity pools to discover price. A bonding curve replaces that external infrastructure with a mathematical function embedded in the contract itself. Immute's curve follows: P = k × S Where: - P is the current price of one IMT in ETH - S is the total supply of IMT - k is a constant coefficient that defines the curve's slope When someone buys IMT, the contract mints new tokens.…