Bonding phases

The bonding process can differ depending on the phase the $Fair token is in:

Closed Phase

During this phase, the general public cannot participate in bonding. Only the contract owner has the privilege to mint $Fair tokens, and this is often done without the need for depositing ETH. The minted tokens are allocated for covering the costs of protocol operation and distribution during the private sale.

Open Phase

In this phase, users can start bonding by depositing ETH and receiving $Fair tokens in return. The exact terms of how much ETH is required for a certain number of $Fair tokens are dictated by the bonding curve formula established in the contract.