Rules & FAQ

The words this site uses the same way everywhere, one sentence each. Tap a dotted word anywhere to see its sentence.

1. Propose

The proposer pays, in one transaction, a listing fee of —not known: Reading the Registry…, a review deposit of —not known: Reading the Registry… and a first buy of at least —not known: Reading the Registry…, and picks how much of every bond goes into the pool as the bonders' pool stake, between —not known: Reading the Registry… and —not known: Reading the Registry…. We check the mint (see what we check) and approve or reject it. Rejected: the review deposit is forfeited, the first buy returned. Cancelled while in review: review deposit and first buy returned. The share of the fee returned when a token does not list: —not known: Reading the Registry….

2. Bond

Bonders deposit ETH until the target fills or the window closes (—not known: Reading the Registry… to —not known: Reading the Registry…); the proposer's first buy is the first bond. The whole raise pays what Solana gives at graduation, but on a token that is thin on Solana the price rises as the sale fills: each ETH pays the price at its place in the raise, so earlier bonders pay less and later ones more (the first close to the Solana price, the last up to half again above the first at most). A token deep enough on Solana has no curve: everyone pays the same price. The curve applies to the tokens only; the pool stake and the fee shares are per ETH. Until the last hour of the window (the last quarter of a sale under 4 h), a bonder can exit and get the ETH back less the exit fee, never more than they put in; the proposer's first buy cannot be exited. One wallet can bond at most —not known: Reading the Registry… of the target. If the window closes below —not known: Reading the Registry… of the target, anyone can settle the sale, and every bond comes back in full.

3. Graduate

The raise pays for the buy. The Sale releases the bonders' ETH in capped parts (at most —not known: Reading the Registry… each; a small sale's whole budget can go in one), only to a dedicated bridging key and at most one part at a time; each part is bridged to Solana and spent there on the real token on Jupiter, in clips, re-quoting before each and skipping any that would move the price too far. What is not spent is bridged back to the Sale. An on-chain release limit caps how fast ETH can leave sales at all, and can be paused. The Sale only accepts a spend up to the ETH that measurably left it. The bonders' tokens and the pool's token half come out of the vault's locked supply. If only part of the budget can be bought, the stake and the fee shrink by the same ratio and the rest is refunded; ETH that comes back from Solana after the sale settled is added to the refunds, so a refund can arrive in two parts. If at least a quarter of the budget is bought the sale settles with it; below that the sale is aborted: what is still in it is refunded at once, and ETH already spent on Solana only once those tokens are sold and bridged back, so that part can come back short. Claims open about —not known: Reading the Registry… after buying ends: a window in which a watcher can hold a bad settlement once, for 24 hours. The release limit lets at most —not known: Reading the Registry… leave sales at once and —not known: Reading the Registry… a day, across all sales. The watcher is a separate program with its own key, which can only hold settlements and pause releases, and its own RPC connections; it pauses releases on any outflow it cannot match to a bridge order. For now it runs on our main server, and it is moving to a host of its own. If we cannot finish in time, anyone can settle the sale.

4. Live

Trade in the pool or at the vault. From now on every trading fee is divided as shown below, and the proposer's review deposit is returned.

—not known: Reading the Registry… Of each bonded ETH, the part the listing sends into the pool becomes the bonder's pool stake, half ETH and half tokens bought at the same fill; the rest buys the bonder's tokens on Solana. Every listing page shows the exact split from its Sale before anyone bonds.

The stake is recorded as liquidity units, one per wei bonded. It earns the bonders' share of trading fees (—not known: Reading the split…), divided among bonders by stake, forever, whether or not the bonder still holds the token. —not known: Reading the Registry… It can be moved once, to another address. A bonder who also holds the tokens earns the holders' share (—not known: Reading the split…) on top.

The proposer's share is checked on every fee and every transfer out of its wallet. While its balance is at least the tokens its first buy bought (tokens not yet claimed from the sale count as held), it is credited; the first time it is below, the share goes to the pool for good, and buying back does not restore it. What was credited before stays claimable.

The vault only trades against a quote we sign: a real Jupiter quote for your size, converted to ETH, with a spread of —not known: Reading from our server… each way. The quote carries the Solana mid price and the vault refuses to sell below it. It is tied to your address, single-use, and expires in —not known: Reading from our server…. We mirror every vault trade on Solana, which is what keeps the token backed and makes demand here reach Solana.

When the pool drifts past the vault's prices by more than the pool fee, anyone can trade the gap. Our own arbitrage is off for now, so the pool can sit further from Solana. ETH redemptions pay from the vault's reserve, which starts empty at graduation and is capped per day: a redemption can be queued or refused, and a refused one takes nothing.

Backing is checked every tick. Below —not known: Reading from our server… of circulating supply the vault pauses.

Every pool swap pays the pool's fee. The fee is divided into five parts, fixed for each listing when it is approved; new listings follow the Registry's current values, shown here.

• Bonders are credited the moment a fee arrives, by stake, out of everything the sale raised; the share of withdrawn stakes goes to the pool.
• Holders are paid by balance, streamed over —not known: Reading the Registry…, so what you earn follows how long you hold. Pool, router and platform addresses earn nothing; a small holder cannot take the whole stream when few hold.
• The proposer earns only while it holds the tokens its first buy bought; the first time its balance drops below that, its share goes to the pool for good.
• The pool (—not known: Reading the split…) keeps its share for good, and the dividend (—not known: Reading the split…) is paid in ETH to everyone holding the Relaunch token. The proposer's share is —not known: Reading the split….

Bonder fees, holder rewards and the proposer credit are claimed together, in one transaction, from the token's page or Portfolio. Fees has a calculator and every listing's totals.

These five parts split the fees the listing's own pool position earns. Anyone who adds their own liquidity to the same pool keeps the fees on their part of it.

No platform money is ever put into a pool. Liquidity comes, in this order, from:

1. the bonders' stakes;
2. the pool's share of every trading fee (—not known: Reading the split…);
3. part of the vault's spread on every mint (—not known: Reading the Registry… of it);
4. our peg profit, since our arbitrage gain is the pool's loss to arbitrage (—not known: Reading from our server…; our own arbitrage is off for now);
5. everything nobody earns: a forfeited proposer share, the holders' share of excluded addresses, the fees of withdrawn stakes.

What is added this way belongs to the pool: it is compounded into every position alike, so a bonder's stake is never diluted, and nobody can withdraw it.

—not known: Reading the split… of every swap fee, in every listing's pool, is paid in ETH to everyone holding the Relaunch token. Holding is enough: no staking, no lock, nothing to claim. The ETH half of that share goes straight to the payout contract; the token half goes to a dedicated wallet that sells it back to the listing's vault at the Solana price and pays the ETH in. Each payment is released evenly over a period set on chain, so payouts keep coming in a quiet week. Every few hours (a round), what was released is split between holders by their average balance over the round and sent straight to their wallets; very small amounts are carried until they add up. Pools, routers, other contracts and platform wallets earn nothing. A dedicated wallet works out each split; the contract caps it at what was released, and every round's file is published so anyone can check it. See the Dividend chapter.

A sale that fails takes nothing: every deposit is refunded, in full if none of the raise had left for Solana; ETH that was out on Solana is added to the refunds as it comes back, less the bridge cost.

Listing is open to any market cap, so only what would break the backing is a rejection: the mint does not exist, its decimals, name or symbol differ, a freeze authority is set, a Token-2022 extension makes one-for-one backing impossible, Jupiter has no route, depth is below the minimum, or an unverified mint carries the name of a verified token or of another listing. Everything else is a risk label shown on the listing: a live mint authority, few holders, a concentrated supply, a young token, not verified on Jupiter. A temporary error is unknown, never a rejection.

—not known: Reading from our server… The thresholds are read from our server's settings.

• Custody. The real tokens backing mirror tokens are held on Solana in our wallets, not by a bridge contract. Backing is published on the Backing page and the vault pauses below the solvency floor, but you are trusting the operator.
• Our server. Vault trades need it running. The pool works without it; our own arbitrage is off for now.
• Price band. The pool can sit away from Solana by up to the arbitrage cost (pool fee plus vault spread). A large trade in a small pool moves it further until someone trades the gap.
• A locked stake. A bonder's stake cannot be withdrawn before its lock ends; its value follows the pool, and so the token's price.
• The band. Part of each pool's liquidity, the band around the price, is re-centred by us through the listing's vault, at prices we sign. That part of a stake relies on us, as custody does.
• A rising sale price. On a token thin on Solana, later bonders pay more. The pool opens at the average price of every bond, so a late bond can be worth less than it paid on day one; the bond card shows by how much before you bond.
• Queued redemptions. The vault's ETH reserve starts empty at graduation and ETH redemptions are capped per day, so one can be queued or refused.
• Gas. Every transfer of a mirror token pays a rewards hook, so wallets must send about a million gas more than a plain transfer. This site sets it; other apps may not.
• The underlying token. A mirror tracks its Solana token all the way down. A live mint authority on the original can inflate its supply.
• Software. The contracts have unit, fuzz and invariant tests but no external audit yet.

Network: Robinhood Chain (chain id 4663). Our off-chain server is the keeper below: it reads Solana, signs vault quotes and buys and sells on Jupiter. The dividend agent and the payout wallet are separate wallets it uses for the dividend.

Each listing's Token, Sale, Vault, PoolShare and Rewards addresses are on its page. The verified contract source is on the explorer, starting from the Registry.