> For the complete documentation index, see [llms.txt](https://docs.div.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.div.fun/resources/glossary.md). # Glossary **Bonding curve** — The automated market that prices a token before [graduation](/core-concepts/graduation.md). Buys move the price up a formula; sells move it down. No order book or counterparty is needed. See [the bonding curve](/core-concepts/the-bonding-curve.md). **Dividend** — A holder's share of a token's trading volume, paid in the reward asset and pushed to their wallet. **Dividend share** — The portion of each trade (curve or market) set aside to fund dividends. Split between holders and the creator at a ratio chosen by the creator at launch. Fixed thereafter and immutable. **Dividend token** — A fee-on-transfer ERC-20 launched on div.fun that distributes a share of every trade to holders. See [dividend tokens](/core-concepts/dividend-tokens.md). **Direct liquidity** — A [launch mode](/for-creators/launch-modes.md) in which the creator seeds a HyperSwap pool at launch, opening the token straight onto the market with no curve phase. **Eligible balance / eligible supply** — The balances that earn dividends, and their total. Excludes pools, curves, and protocol contracts. Your dividend is your share of the eligible supply. See [eligibility](/core-concepts/reward-eligibility.md). **Fee on transfer** — A token property where a share of each trade is retained by the contract. On div.fun, this is what funds dividends. **Graduation** — The transition of a token from its bonding curve to a HyperSwap V2 pool, when the curve reaches its target. The LP is burned at graduation (sent to a dead address). Dividends begin from the first trade on the curve, not at graduation. See [graduation](/core-concepts/graduation.md). **Creator/holder split** — The ratio in which the dividend share is divided between the creator and holders. Chosen by the creator at launch (default 50/50, any 0–100% to holders) and fixed thereafter. Not adjustable after launch. **Liquidity burned** — LP tokens sent to a dead address, making the liquidity provably non-withdrawable by anyone. Bonding-curve tokens burn LP automatically at graduation (\~100%). Direct-liquidity creators can burn LP manually from the token page at any time. **HYPE** — The native asset of Hyperliquid, used for gas and curve trading on HyperEVM, and available as a reward asset. **HyperCore** — Hyperliquid's spot order book, where tokenized stocks trade. Used to acquire stocks for [stock dividends](/stock-dividends/how-stock-dividends-work.md). **HyperEVM** — The EVM layer of Hyperliquid, where div.fun tokens are deployed and trade. Chain ID `999`. **HyperSwap** — The HyperEVM AMM where graduated tokens trade. Tokens graduate into a HyperSwap V2 pool. **Keeper** — The off-chain service that drives [distribution](/core-concepts/dividend-distribution.md) and the asynchronous stock-settlement flow. It automates permissionless calls and cannot touch holder funds. See [the keeper](/protocol/the-keeper.md). **Launch mode** — Either a [bonding curve](/core-concepts/the-bonding-curve.md) or [direct liquidity](/for-creators/launch-modes.md). Chosen at launch. **Push model** — div.fun's approach of sending dividends to holders' wallets automatically, with no claim step. See [dividend distribution](/core-concepts/dividend-distribution.md). **Reward asset** — The asset a token pays dividends in — HYPE, a stablecoin, or a tokenized stock. Chosen at launch and immutable. See [reward assets](/core-concepts/reward-assets.md). **Reward distributor** — The contract that holds and pushes the reward asset to holders by eligible balance. See [smart contracts](/protocol/smart-contracts.md). **Stock converter** — The contract that acquires a tokenized stock on HyperCore for tokens that pay stock dividends. See [smart contracts](/protocol/smart-contracts.md). **Tokenized stock** — An on-chain asset representing equity exposure (e.g. QQQ, GLD), tradable on HyperCore and usable as a reward asset. See [stock dividends](/stock-dividends/stock-dividends.md). **Bonding curve** — The automated market that prices a token before [graduation](/core-concepts/graduation.md). Buys move the price up a formula; sells move it down. No order book or counterparty is needed. See [the bonding curve](/core-concepts/the-bonding-curve.md). **Dividend** — A holder's share of a token's trading volume, paid in the reward asset and pushed to their wallet. **Dividend share** — The portion of each trade (curve or market) set aside to fund dividends. Split between holders and the creator at a ratio chosen by the creator at launch. Fixed thereafter and immutable. **Dividend token** — A fee-on-transfer ERC-20 launched on div.fun that distributes a share of every trade to holders. See [dividend tokens](/core-concepts/dividend-tokens.md). **Direct liquidity** — A [launch mode](/for-creators/launch-modes.md) in which the creator seeds a HyperSwap pool at launch, opening the token straight onto the market with no curve phase. **Eligible balance / eligible supply** — The balances that earn dividends, and their total. Excludes pools, curves, and protocol contracts. Your dividend is your share of the eligible supply. See [eligibility](/core-concepts/reward-eligibility.md). **Fee on transfer** — A token property where a share of each trade is retained by the contract. On div.fun, this is what funds dividends. **Graduation** — The transition of a token from its bonding curve to a HyperSwap V2 pool, when the curve reaches its target. The LP is burned at graduation (sent to a dead address). Dividends begin from the first trade on the curve, not at graduation. See [graduation](/core-concepts/graduation.md). **Creator/holder split** — The ratio in which the dividend share is divided between the creator and holders. Chosen by the creator at launch (default 50/50, any 0–100% to holders) and fixed thereafter. Not adjustable after launch. **Liquidity burned** — LP tokens sent to a dead address, making the liquidity provably non-withdrawable by anyone. Bonding-curve tokens burn LP automatically at graduation (\~100%). Direct-liquidity creators can burn LP manually from the token page at any time. **HYPE** — The native asset of Hyperliquid, used for gas and curve trading on HyperEVM, and available as a reward asset. **HyperCore** — Hyperliquid's spot order book, where tokenized stocks trade. Used to acquire stocks for [stock dividends](/stock-dividends/how-stock-dividends-work.md). **HyperEVM** — The EVM layer of Hyperliquid, where div.fun tokens are deployed and trade. Chain ID `999`. **HyperSwap** — The HyperEVM AMM where graduated tokens trade. Tokens graduate into a HyperSwap V2 pool. **Keeper** — The off-chain service that drives [distribution](/core-concepts/dividend-distribution.md) and the asynchronous stock-settlement flow. It automates permissionless calls and cannot touch holder funds. See [the keeper](/protocol/the-keeper.md). **Launch mode** — Either a [bonding curve](/core-concepts/the-bonding-curve.md) or [direct liquidity](/for-creators/launch-modes.md). Chosen at launch. **Push model** — div.fun's approach of sending dividends to holders' wallets automatically, with no claim step. See [dividend distribution](/core-concepts/dividend-distribution.md). **Reward asset** — The asset a token pays dividends in — HYPE, a stablecoin, or a tokenized stock. Chosen at launch and immutable. See [reward assets](/core-concepts/reward-assets.md). **Reward distributor** — The contract that holds and pushes the reward asset to holders by eligible balance. See [smart contracts](/protocol/smart-contracts.md). **Stock converter** — The contract that acquires a tokenized stock on HyperCore for tokens that pay stock dividends. See [smart contracts](/protocol/smart-contracts.md). **Tokenized stock** — An on-chain asset representing equity exposure (e.g. QQQ, GLD), tradable on HyperCore and usable as a reward asset. See [stock dividends](/stock-dividends/stock-dividends.md). --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. 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