01
what DROP is
a launchpad on Robinhood Chain, built on pons. every coin launched here is paired with a Robinhood stock token at birth, and trades in that stock from its first block to its last. every fee it pays is paid in that stock, and half of it drops into a reserve that only the coin's holders can take.
there is no crank, no snapshot and no keeper. the reserve is a balance in a contract, the formula that pays it out is in the same contract, and a holder takes their share whenever they want it.
02
the loop
| step | what happens | who does it |
|---|---|---|
| 1 | a creator launches a coin paired with a stock | the creator, one signature |
| 2 | people trade it on its pons curve, in the stock | anyone |
| 3 | every trade pays 3%: 1% pons fee (0.7% of it the coin's) and 2% coin tax | pons, automatically |
| 4 | the coin's fees are collected and split 50 / 10 / 20 / 20 | anyone, by pressing settle |
| 5 | holders return coins and take reserve × amount ÷ circulating | any holder, any time |
| 6 | the curve fills, the coin graduates into a locked Uniswap v4 pool; fees keep coming in the stock | pons |
03
what a launch writes into a coin
DROP's launcher calls pons' factory with fixed terms. the creator picks the name, the ticker, the picture, the links and the stock. everything else is the launcher's:
| term | value |
|---|---|
| pair asset | the stock the creator picked, from pons' approved list |
| creator fee recipient | a fresh inbox contract, one per coin, with no owner |
| creator tax | 2%, on every buy and sell |
| pons buyback | off, so the whole creator share reaches the inbox |
| first buy | exempt from pons' opening snipe tax, delivered to the creator |
| launch fee | pons' own, 0.0005 ETH, passed through |
04
every trade
| fee | size | goes to |
|---|---|---|
| pons trade fee | 1% | 0.3% to pons, 0.7% to the coin's inbox |
| coin tax | 2% | the coin's inbox |
| total | 3% | 2.7% reaches the coin, always in the stock |
pons charges both on the stock leg of the trade, never in the coin, before and after graduation.
05
the split
| who | share | how |
|---|---|---|
| the coin's holders | 50% | added to the coin's reserve, in its stock |
| the $DROP basket | 10% | added to the basket, in the same stock |
| the platform | 20% | sent to the treasury, in the stock |
| the creator | 20% | sent to the creator, in the stock |
the four figures are constants in the vault contract. there is no function that changes them.
06
settling
pons holds a coin's fees until they are swept and claimed. settle(coin) on the vault asks the coin's inbox to sweep them out of the curve or the pool, claim them from pons' escrow, and pass them on; the vault then splits what arrived. anyone may call it, as often as they like. a settle with nothing waiting does nothing.
after graduation, a pool fee charged in the coin has to be converted by pons' own operator before it can be claimed, so part of a graduated coin's fees reaches the inbox on pons' schedule rather than ours.
07
taking your slice
return any amount of a coin to the vault and it pays reserve × amount ÷ circulating in the coin's stock, then sends the coin to the burn address. circulating is the total supply less what sits on the curve, in the v4 pool, in pons' factory or buyback vault, and at the burn address, read at that instant.
because the returned coins are burned, the reserve per circulating coin never falls when someone redeems. the last holder out takes what is left.
08
the $DROP basket
10% of every settlement, in whatever stock that coin pays in, is added to the basket. $DROP is a coin like the others, launched through this site; its holders own the basket pro rata. returning $DROP pays a slice of every stock in the basket at once, and of $DROP's own reserve.
until $DROP exists the basket only fills. the vault names $DROP exactly once, and nothing leaves the basket before that.
09
adopting a pons coin
a coin launched straight on pons, paired with an approved stock, can join. its current fee recipient signs adopt(coin) on the launcher, which opens an inbox for it, then signs transferCreatorFeeRecipient(coin, inbox) on pons. the first settle checks pons really names the inbox and switches the coin on. the split is the same 50 / 10 / 20 / 20, with the adopter as creator.
10
paying with ETH
the curve only takes the stock. to pay in ETH, the site asks KyberSwap for a route from ETH into the stock, with DROP's launcher as sender and recipient. the launcher calls only KyberSwap's router, checks it received at least the quoted minimum, buys on the curve for you and returns anything left over. one signature.
11
the numbers
| setting | value | status |
|---|---|---|
| split | 50 reserve / 10 basket / 20 platform / 20 creator | set, in code |
| coin tax | 2% | set, in code |
| pons trade fee | 1%, 30% of it to pons | measured on chain |
| pons launch fee | 0.0005 ETH | measured on chain |
| snipe tax | 99% falling to 0 over 3 seconds; first buy exempt | measured on chain |
| graduation | about 4.2 ETH worth of the stock on the curve | measured on chain |
| stocks available | 63 | measured on chain |
12
enforced, run, not promised
| layer | what |
|---|---|
| enforced by contract | the split, each coin's stock, and that a reserve only pays a holder who returns coins |
| enforced by pons | the fee, the tax, the curve and the locked pool |
| run by anyone | settling |
| not promised | a price, a yield, a floor; pons' owner can move a coin's fee recipient after three days' notice; pons v2 has no finished audit; Robinhood stock tokens can be paused by their issuer; most coins go to zero |
13
contracts
| vault | not deployed |
| launcher | not deployed |
| lens | not deployed |
| pons factory | 0x7eD598BcEf8bd9Edd8C97A195C6d13f40801EC7e |
| pons fee escrow | 0xd3AFEB2a57f70eF218Aa82451c51B2fb0416Ac9e |