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?
SOL
Mint NFTs, Buy Tokens
Tokens
Sell Tokens, Swap to NFTs
NFTs
Swap to Tokens, Re-roll NFTs, Sell NFTs on Secondary
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.
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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