> For the complete documentation index, see [llms.txt](https://basketball-fun.gitbook.io/basketball.fun-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://basketball-fun.gitbook.io/basketball.fun-docs/trading/player-share-liquidity.md).

# Player share Liquidity

### AMM & Launch Price

Each player in Basketball.fun has its own on-chain automated market maker (AMM) seeded with a fixed supply of tokens and USD liquidity. This ensures continuous liquidity and a fair, transparent launch price for every player.

* **Per-player supply:** 1 million tokens. The AMM receives 500,000 tokens (50% of the circulating supply) and users hold the other 500,000 tokens via packs.
* **Liquidity seed:** Each AMM is paired with $10,000 USDC. The ratio between tokens and USDC determines the initial price.
* **Launch price:** With 500,000 tokens and $10,000 USDC in the pool, the launch price is $10,000 / 500,000 = $0.02 per token. This implies a fully diluted valuation (FDV) of $20,000 per player at time zero.
* **Equal starting line:** Because every player’s AMM is seeded with the same amount of tokens and USDC, all players launch at the same price. The market then re-prices players based on demand and performance.
* **Unsold packs:** If any portion of the 500,000 pack tokens remain unsold before launch, those tokens can be added to the AMM. This reduces the token/USDC ratio and raises the launch price, benefiting existing holders.

#### Why this matters

* **Continuous liquidity:** The AMM ensures there’s always a bid and an ask for every player token, avoiding the liquidity droughts common in NFT markets.
* **Fairness:** No player starts with an artificially high or low price; all value appreciation is market-driven.
* **Stability:** A large token reserve in the LP dampens price impact for early trades, making it harder to pump-and-dump.

The next section explains how trading fees are captured as the primary revenue source once the AMMs are live.


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