Docs · 04
Graduation and lock
When its curve sells out, a coin moves into a Uniswap v4 pool. The pool position is locked forever in a contract with no withdraw function.
A coin graduates when its launch curve has sold everything it was selling. At that moment the curve stops trading, and Pons moves the coin into a Uniswap v4 pool against the same asset. Its liquidity there is locked forever.
What goes into the pool
Everything the curve raised goes into the pool, together with coins the curve kept back, as one full-range position. The pool opens at the curve's last price, so the move itself does not change the price.
The pool needs only as many coins as match the raised asset at that price. The rest of the kept-back coins go into the same lock as the position, outside the pool, and stay there forever: they never circulate. For a coin paired with ETH that is about 8.2% of the supply.
For a coin paired with ETH, on today's terms:
- Asset into the pool
- 4.2 ETH: everything the curve raised
- Coins into the pool
- 204.08M coins (20.4% of supply)
- Coins locked outside the pool
- 81.63M coins (8.2%)
- Pool opens at
- The curve's last price, ≈ 20.58 ETH market cap
- Position
- Full range, minted to Pons' launch locker
Who completes the move
Moving a coin into its pool takes one or two transactions, and anyone may send them. Pons' keeper usually sends them within seconds of the last buy. If the move is still pending when you open the coin's page, the page shows a button that completes it from your wallet; you pay only the gas.
The pool
- Venue
- Uniswap v4 on Robinhood Chain
- Pair
- The coin and the asset picked at launch
- Liquidity
- One full-range position, locked forever
- Hook
- The Pons meme hook, which charges the 2% fee on every swap
- Pool fee to liquidity providers
- None
- Tick spacing
- 200
- Who opens the pool
- Pons' factory, once the curve completes; anyone can trigger it
From then on, the coin trades in this pool through any Uniswap v4 router: this site, aggregators, wallets and trading bots. The fees are charged by the Pons hook on every swap, so they reach the creator and the other recipients without the locked position ever being touched.
The lock
The pool position is minted straight to Pons' launch locker. It is not a receipt someone could hand on or sell.
- Holds
- Every graduated Pons coin's pool position, and the coins kept back from it
- Withdraw function
- None
- Can twain, Pons or the creator remove the liquidity
- No
- Owner powers
- One: connecting the locker to the Pons factory, once, already done
- Upgradeable
- No, it is not a proxy
Other pools
On Uniswap v4 anyone can open another pool for any pair, with a different fee or hook. Such a pool for a twain coin is not the coin's graduated pool: it holds none of the locked liquidity, and its trades pay nothing to the coin's creator.