02 Start
How it works
One fee, followed from the trade that paid it to the holder it ends with.
Figures on this page are the platform's launch settings. They can change, and the coin page always shows the values in force.
#1. A trade happens
Someone buys or sells the coin on Pons. Pons takes the creator fee at that moment and holds it on-chain until it is claimed. For a Perpy coin the creator-fee recipient is the coin's vault, set at launch and locked.
#2. The vault claims it
Every 10 minutes the claimer checks each coin. A claim goes out once at least 0.01 ETH is waiting, so a small coin pools its fees instead of paying gas on crumbs. Anyone can trigger a claim: the money can only land in the vault.
#3. The platform cut
20% of each claim goes to the platform. That is the only cut. The platform never takes a share of trading profit.
#4. What is left splits three ways
The preset picked at launch sets the shares of what remains:
| Preset | Buyback | Trade | Reserve |
|---|---|---|---|
| Steady | 25% | 50% | 25% |
| Balanced | 5% | 75% | 20% |
| Degen | 0% | 100% | 0% |
For Balanced, 1 ETH claimed becomes 0.20 to the platform, 0.04 to the buyback, 0.60 to the trade and 0.16 to the reserve.
#5. The buyback runs
The buyback slice buys the coin on Pons, or on the Uniswap pool once the coin has graduated. A burn coin destroys what it bought straight away. A pool coin keeps it for the next holder payout. A buy that is too small waits for the next claim.
Pending buybacks are spent in small slices at random times, so nobody can front-run them.
#6. Trade and reserve go to the perp
Once enough has built up, the trade slice is deposited as margin on the coin's own account at the perp venue. The margin goes into one isolated position: one market, long or short, at 2x, 3x or 5x.
#7. The position is watched
Two kinds of order work the position: take-profit sells above the entry, and limit buys funded by the reserve on the way down. The vault places them itself, straight to Lighter, and the creator can close everything at any time. See Take profit and dip buys.
#8. Wins are counted
Every take-profit slice and close is a real fill. A loss is added to the coin's loss book. A win pays the book down first, and only what is left counts as profit. See Where profit goes.
#9. Profit comes home
Profit waits at the venue until enough has built up, then returns to the vault as ETH. The creator's 15% is paid as it lands. The rest becomes pending buyback.
#10. Holders get paid
On a pool coin, the pot is paid to holders pro rata when it is worth enough to be worth the gas. No snapshot, no lock-up.