At launch, community coins trade on the bonding curve. This is a linear curve that determines the price of the coin based on number of coins bought/sold.

When 10 ETH of tokens have been bought on the bonding curve, the community graduates from the bonding curve to Uniswap V2. At this time, the full 10 ETH and 15% tokens get sent from the TipTag smart contracts to Uniswap to provide liquidity.

At graduation, the initial liquidity are burned to ensure no one can remove this part of the liquidity pool.