What is a bonding‑curve reward token? Inside Immute's on‑chain dividend mechanic

A bonding‑curve reward token is a cryptoeconomic primitive where token price is a deterministic function of circulating supply, defined directly in a smart contract rather than by an external order book. Every trade mints or burns tokens, automatically adjusting price and distributing a built‑in fee to all existing holders. Immute implements exactly this model on Ethereum Sepolia testnet, offering a live experiment where you can earn IMT by interacting with on‑curve mechanics—mainnet launch comi...