How it works

A launch here is an ordinary pons v2 token: a bonding curve holding the entire supply, tradeable from the first block, graduating into a pool with permanently locked liquidity. What is different is the catalogue it launches against.

Every trade pays 2% to the creator. That fee does not sit in a shared treasury or a contract you have to trust: it accrues to a wallet belonging to that launch alone, and is claimed on a schedule by the keeper.

1. 01Pick a compoundChoose one of the thirty peptides in the catalogue. Your token carries its name and its artwork.
2. 02LaunchName the token and pay the launch fee. The whole supply is minted to a bonding curve, and a fee vault is derived for it in the same transaction.
3. 03EarnTwo percent of every trade against the token accrues to that vault, in the asset the token trades against.
4. 04CollectThe keeper claims the vault out of the fee escrow on a schedule, buys the token back with it, and burns what it buys.

Every launch is paired to one compound from a catalogue of thirty. The pairing is what you see on the market grid, on the token page and in the artwork, and it is what the peg is measured against.

Each compound carries a reference price: the median of publicly listed research-vendor prices for one unit of it, stored with the date it was taken. That figure is the compound's side of the pair.

Drift

A paired token has two prices: its own, set by its bonding curve, and its compound's reference price. Drift is the ratio between them, normalised at launch so a token opens at parity. A token trading above parity has drifted up; one trading below has drifted down.

Both halves are indexed to their own value at launch, so drift measures the token against its compound rather than against a dollar. A compound whose reference price doubles pulls parity up with it, and a token that merely kept pace has not drifted at all.

What closes the gap

The keeper is the mechanism. It already claims every launch's creator fees out of the fee escrow on that launch's own schedule; pairing decides what it does with them.

1. 01MeasureOn each run the keeper reads the token's curve price and the compound's current reference price, and computes the drift between them.
2. 02Buy below parityA token drifted down has its claimed fees spent buying it back off its own curve, quoted first so a moving price cannot fill at an unbounded rate.
3. 03Burn what it buysEverything bought is sent to the burn address. Supply falls against the same reference, which moves the token back toward parity.
4. 04Hold above parityA token drifted up is already at or beyond its reference, so the keeper banks the fees in the vault instead of buying into strength, and they are spent on the first run that finds it below parity again.

The pull is proportional to trading rather than to the size of the gap: a token's correction is funded by its own fees, so the more it trades, the harder its peg is held. Every claim, buy and burn is a separate transaction recorded on its own, so what the keeper did for any token is readable on chain rather than taken on trust.

Nothing on this platform sells, ships, holds or sources any compound. The catalogue is a list of names and reference prices, and the peg is arithmetic over those prices.

Fees are always charged in the asset the token trades against, never in the token itself, so you are never handed a bill denominated in something you were trying to sell.

The creator fee is the same 2% on every launch. It is not a setting. A per-launch choice only ever produced tokens that were quietly worse to trade than their neighbours.

Every launch derives its own fee vault, and that vault is set as the token's fee recipient in the launch transaction itself. Fees from one token accrue only to that token's vault, so one launch's volume can never fund another's payout.

The address has to be known before the token exists, because the fee recipient can only be set at creation and never afterwards. Each vault is derived deterministically from a single secret we hold, combined with a public value recorded alongside the launch. That public value reveals nothing on its own: only the secret turns it into a key, and the secret never leaves the server.

Fees do not arrive in the vault by themselves. They accumulate in the pons fee escrow and have to be claimed, and the keeper is the process that claims them: it walks every launch on a fixed schedule, collects whatever has accrued, and records the claim.

Nothing is claimed until it is worth more than the gas to collect it. Below that floor the fees stay in the escrow, which costs nothing and loses nothing.

Before graduation, fees behave differently than most people expect. The escrow is not credited on every trade: the fee sits on the launch's own curve until graduation moves it. So a token can have genuinely earned fees that nothing can collect yet. Those are shown separately rather than counted as zero.

1. 01CreateYou set a name, ticker, image and links, and pay the launch fee. The entire supply is minted straight to a bonding curve. Nobody, including you, is holding a bag set aside beforehand.
2. 02Trade the curveAnyone can buy and sell immediately. Price rises as people buy and falls as they sell, and the curve always takes the other side, so there is never a wait for liquidity.
3. 03GraduateOnce the curve sells out, everything it collected seeds a Uniswap v4 pool and that liquidity is locked permanently.
4. 04CollectFees keep accruing for the life of the token, and keep being claimed into its vault.

A bonding curve is a vending machine. It holds the whole supply from the moment of launch and will always sell you tokens and always buy them back. The price is worked out from how much of the supply has been bought so far, not set by anyone, and not negotiated.

This is why a token is tradeable in its first block with nobody providing liquidity. It is also why early buys are cheaper than late ones: the price is a function of how much has already been sold, so the curve climbs as supply leaves it.

A portion of the supply is held back from the curve and reserved for the pool the token graduates into. That reserved amount is what seeds real liquidity at graduation, and it is set by the launch configuration rather than by the creator.

When the curve has sold its sellable supply, the launch graduates. Everything the curve collected, together with the reserved supply, seeds a Uniswap v4 pool, and the liquidity position is locked permanently.

Permanently means what it says. There is no timelock that expires, no multisig that can withdraw it and no admin function that can move it. The tokens and the pair asset backing that pool stay there for as long as the chain exists.

Everything runs on the pons v2 contracts on Robinhood Chain, chain id 4663. Each launch gets its own token and curve, which you should resolve from the factory rather than hardcoding.

• Reference prices carry a capture date. The figure beside a compound is what it went for when it was last taken, and the date is shown with it.
• Fees depend entirely on trading. A token nobody trades earns nothing. There is no yield here, only a share of activity that may never happen.
• A bonding curve can go to zero. Price is a function of how much supply has been bought. Sellers move it down exactly as buyers move it up, and nothing puts a floor under it.
• Anyone can create a token with any name, including one that impersonates a real project. Names are not unique and are not verified. Check the contract address, which is the only identifier that cannot be copied.
• Graduating is not a quality signal. It only means the curve sold out.
• Transactions are signed by your own wallet and are irreversible.