Solana: Example contract code for a bonding curve?

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Solana Bonding Curve

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Solana Bonding Curve, also known as SPAR Curve, is a new asset creation protocol introduced by Solana Labs. It allows you to efficiently and securely create new assets using the power of attraction curves. In this article, we will explore examples of smart contracts that you can use as a starting point to build your own bonding curve on Solana.

What is a bonding curve?

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A bonding curve is a type of liquidity protocol used in DeFi applications, including Solana’s Inter-Block Transactions (IBT). It allows the creation of new assets by combining existing assets through a series of liquidity swaps. A bonding curve is based on the idea of “bonding” two or more assets to create a new asset with different characteristics than the original asset.

An Example Smart Contract for Solana’s Bonding Curve

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One of the most well-known examples of the Solana Bonding Curve is the SPL token swap protocol, which allows users to exchange their SPARK (SPL’s native token) for SLP (Solana Token). This contract uses a bonding curve to facilitate efficient asset creation and management.

Here is an example of a Solidity code snippet:


pragma stiffness ^0,8,0;
contract SPLBondingCurve {
//Define the assets that are bonded to each other
public SPARK address;
public SLP address;
//Set connection parameters
public uint256 bondLength; //Number of periods to wait before disconnecting
public uint256 minPrice; //Minimum price to unbond
public uint256 maxPrice; // Maximum price for disconnection
uint256 public reservation1; // Reservation 1
uint256 public reservation2; // Reservation 2
// Initialize contracts with a specific property
constructor(_SPARK address, _SLP address) {
SPARK = _spark;
SLP = _SLP;
// Set connection parameters to default values
connection length = 10; // Wait 10 periods before disconnecting
minprice = 1; // Minimum disconnection price: $1
maxprice = 1000; // Maximum disconnection price: $1,000
reservation1 = 50; // Reservation 1
reservation2 = 50; // Reservation 2
}
// Unbind the bondLength period length
function unbind() public {
// Get the current SPARK and SLP prices
uint256 priceSPARK = SPARK.getPrice();
uint256 priceSLP = SLP.get_price();
// Check if we can unbind with enough capital
require(priceSLP > minPrice && priceSLP < maxPrice, "Unbind failed");
// Update reservations and prices
reservation1 -= priceSPARK;
reservation2 -= priceSLP;
// Calculate the new SPARK and SLP prices
uint256 newSPARKprice = priceSPARK * (priceSLP / (priceSLP + reservation1));
uint256 newSLPPrice = SLPprice * (SPARKprice / (SPARKprice + reserve2));
// Update prices and reserves
SPARK.updatePrice(new SPARKPrice);
SLP.update_price(newSLPPrice);
// Check if we successfully canceled
require(reserve1 > 0 && reserve2 > 0, "Unbind failed");
}
}

This contract uses a binding curve to create a new asset called SPARKL (SPL Local Token) with different properties than SPARK and SLP. The “unbind” function is used to unbind the bondLength period, which allows the creation of new assets.

Tips for creating your own bonding curve

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Choose appropriate coupling parameters

: Select values that are appropriate for your use case and ensure that you can decouple with sufficient capital.