Factory
The Factory is Cypher’s permissionless, on-chain token launch protocol — a fully automated system for creating new tokens, discovering their price, and providing instant liquidity on Ethereum.
It runs on a bonding-curve mechanism, where the token’s price is determined by supply and demand. As users buy or sell during the launch, the curve automatically adjusts — increasing price as supply decreases, and lowering it when more tokens are sold.
Each launch through the Factory follows a simple on-chain flow:
- Token creation — Deploy a new ERC-20 contract directly through the factory.
- Curve initialization — The bonding curve defines how the token’s price and supply evolve during the launch.
- Liquidity seeding — When the curve completes, liquidity is automatically migrated to the Cypher AMM, making the token instantly tradable within the ecosystem.
The Factory is designed for permissionless, experimental launches — giving developers, communities, and traders a direct path to mint, fund, and trade new tokens without any approvals or intermediaries - anyone can mint a token in seconds.
It’s the foundation of Cypher’s open-market infrastructure — turning token creation and liquidity provisioning into a seamless, fully on-chain process.