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A launch mints exactly 1,000,000,000 tokens. 800 million sit on a constant-product bonding curve; the remaining 200 million are held back for the Uniswap pool. There is no mint function, no team allocation and no vesting.

The curve opens with a virtual reserve of the backing asset, which sets the starting price without anyone seeding liquidity. As people buy, the real asset accumulates in the contract and the price rises along the curve; selling walks it back down. The virtual reserve is never withdrawable — it only shapes the price.

Supply

1,000,000,000, fixed

On the curve

800,000,000 (80%)

Held for Uniswap

200,000,000 (20%)

Curve

constant product, with a virtual reserve

A backing asset has to be a freely transferable ERC-20: a bonding curve is a contract, not a KYC’d investor, so anything that checks an allowlist on transfer simply reverts. That rules out BlackRock’s BUIDL and Ondo’s OUSG by construction, not by preference.

Backed’s xStocks pass that test: their only transfer gate is a sanctions blocklist, with no allowlist, so a curve can hold them. That is what makes tokenised equities usable here at all.

• TSLAxUS equity· 18 dec0x8ad3c73f833d3f9a523ab01476625f269aeb7cf0
• NVDAxUS equity· 18 dec0xc845b2894dbddd03858fd2d643b4ef725fe0849d
• SPYxUS equity· 18 dec0x90a2a4c76b5d8c0bc892a69ea28aa775a8f2dd48
• SPCXxUS equity· 18 dec0x68fa48b1c2fe52b3d776e1953e0e782b5044ce28
• WETHEther· 18 dec0xC02aaA39b223FE8D0A0e5C4F27eAD9083C756Cc2
• PAXGGold, LBMA· 18 dec0x45804880De22913dAFE09f4980848ECE6EcbAf78
• XAUtGold, Swiss· 6 dec0x68749665FF8D2d112Fa859AA293F07A622782F38
• USDYUS Treasuries· 18 dec0x96F6eF951840721AdBF46Ac996b59E0235CB985C
• wMUS Treasuries· 6 dec0x437cc33344a0B27A429f795ff6B469C72698B291
• USDCDollar· 6 dec0xA0b86991c6218b36c1d19D4a2e9Eb0cE3606eB48
• USDTDollar· 6 dec0xdAC17F958D2ee523a2206206994597C13D831ec7
• WBTCBitcoin· 8 dec0x2260FAC5E5542a773Aa44fBCfeDf7C193bc2C599
• wstETHStaked Ether· 18 dec0x7f39C581F595B53c5cb19bD0b3f8dA6c935E2Ca0
• cbBTCBitcoin· 8 dec0xcbB7C0000aB88B473b1f5aFd9ef808440eed33Bf

The pairs page shows each one with its live price and graduation target.

Every buy and sell pays a 1% fee in the backing asset. It is split down the middle, and the split is enforced by the contract: the platform’s share is capped at 50% and cannot be raised after a token is live.

Swap fee

1% of the quote value, both directions

Platform

50% — capped in the contract

Creator or holders

50%

Launch fee

set by the desk; 0 by default

The platform’s share accrues inside the contract and is withdrawn to the treasury separately, rather than being pushed on every trade. A stablecoin that blacklists the treasury would otherwise revert every swap, including sells.

A Standard token accrues the creator’s half to the creator, who claims it whenever they like.

A Reward token streams that half to holders instead. Each trade adds to a per-token reward index; a holder’s share accrues while they hold and follows the balance when they buy, sell or transfer. It pays in the backing asset — hold a gold-backed Reward token and you earn PAXG, not more of the token.

When the curve has collected its target, graduation fires inside that same buy. The collected asset and a matching amount of tokens are deposited into the Uniswap V2 pair at the curve’s exact final price, and the LP tokens go to the burn address. Nobody, including the platform, can pull that liquidity out.

Every token left on the launchpad is burned in the same transaction, so the circulating supply afterwards is exactly what the market bought plus what backs the pool.

The pair is created at launch and locked until that moment, which closes the attack where somebody seeds the pool early and captures a slice of the liquidity meant to be burned.

Everything the site does goes through one contract.

createToken

name, symbol, backing asset, Standard or Reward, metadata

buy / buyWithETH

quote in, minimum tokens out, recipient, deadline

sell / sellForETH

tokens in, minimum quote out, deadline

claimCreatorFees

creator only

claimRewards

any holder of a Reward token

flushPendingRewards

anyone; releases fees held below the distribution floor

withdrawPlatformFees

anyone; always pays the treasury address

Selling is deliberately not pausable: a pause can stop launches and buys, never a holder leaving a curve.

The contracts carry 44 tests and were reviewed twice by independent passes. Two findings were serious and are fixed with regression tests: graduation could be bricked forever by donating dust to the pair and calling its public sync(), and the reward index truncated every distribution to zero on 6- and 8-decimal assets like USDC and WBTC.

Solvency is asserted after every payout: the contract tracks what it owes per asset — curve reserves, creator fees, reward liabilities — and refuses any transfer that would take its balance below that. One market cannot be drained to pay another.

These contracts have not had a paid third-party audit. Size your first launches with that in mind.

• Anyone can launch anything. A name and a logo prove nothing about who is behind them.
• Most tokens on any launchpad go to zero. Assume yours will and size accordingly.
• The backing asset moves too. A gold-backed token falls in dollar terms when gold does; an equity-backed one carries that company’s risk and its issuer’s.
• Tokenised equities are issued by a third party under its own terms, including jurisdiction limits. Read the issuer’s documentation before treating one as a share.
• Nothing here is investment advice.