# How Hybrid Drops Work

### **Summary**

Hybrid Drops are an innovative mint type that allow creators to launch a new NFT collection and SPL token that are sold on a bonding curve and linked together by our swap program. Users have flexibility to trade tokens, mint NFTs, swap between tokens and NFTs, or re-roll their NFTs for other NFTs in the swap escrow.

Once the bonding curve reaches a market cap of 400 SOL, a liquidity pool for the token is created on Orca for open trading across exchanges. Swap and re-roll will continue to be available via the project's mint page after the bonding curve is complete.

### **Collector Experience**

What actions can users take pre-graduation?

<table><thead><tr><th width="219">What user holds</th><th>Actions available</th></tr></thead><tbody><tr><td>SOL</td><td>Mint NFTs, Buy Tokens</td></tr><tr><td>Tokens</td><td>Sell Tokens, Swap to NFTs</td></tr><tr><td>NFTs</td><td>Swap to Tokens, Re-roll NFTs, Sell NFTs on Secondary</td></tr></tbody></table>

* Collectors can buy/sell tokens & mint NFTs from the bonding curve until the project graduates. After graduation, users can buy/sell tokens and NFTs on secondary marketplaces such as Jupiter and Tensor.&#x20;
* Swap to NFTs and Re-roll NFTs give users a random, already minted NFT from the swap escrow account. Users cannot swap to or re-roll for NFTs that are in the candy machine.
* NFTs can't be "unminted" so they can't be directly sold back to the bonding curve, but you can swap to tokens then sell tokens to curve or list on secondary.
* Token to NFT swap rate is fixed and never changes (Tokens per NFT is 800M / # of NFTs)

### **Graduation Details**

* Once the bonding curve reaches the migration point (400 SOL marketcap), 100 SOL and 200M tokens are automatically sent to Orca to seed a liquidity pool for the token
* Any remaining tokens and NFTs are added to the swap escrow at migration
* Users can use any defi exchange or secondary marketplace to trade tokens and NFTs after migration (Truffle links out to Jupiter and Tensor)
* Swaps and Re-rolls will remain live on the Truffle project page indefinitely post-migration


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