At launch, community coins trade on the bonding curve. This is a linear curve that determines the price of the coin based on number of coins bought/sold.
When 4 ETH of tokens have been bought on the bonding curve, the community graduates from the bonding curve to Uniswap V3. At this time, the full 4 ETH and corresponding tokens get sent from the Trendies smart contracts to Uniswap to provide liquidity.
At graduation, 90% of the liquidity shares are burned to ensure adequate liquidity on graduated community coins.