TestnetPublic test.What is live
Fledge
Documentation

How Fledge works

Fledge launches coins on Pons V2 and adds one thing the factory does not: a perpetual market that attaches only after the curve migrates. No Fledge curve, no custom token standard, no AMM of our own. Spot is Pons. Perps wait for graduation.

Overview

A launch is one call against the Pons factory at 0x7eD598BcEf8bd9Edd8C97A195C6d13f40801EC7e. It deploys an ERC-20 and a bonding curve, mints the whole supply to the curve, and spot trading starts at once. Coin pages live at /coin/0x….

Fledge's whole integration is a router at 0x9b3E71d0A4c6F18e2D5a88C1b0476e9d2f0A1c5B that watches the graduated flag. Until that flag flips, the perps engine at 0x4c8F2a91B7e0dE21A6c0b1C8dE9A4F6B3a1e82C4 will not accept an order.

What is live, and what is not

Fledge is on testnet. Quotes, charts, curve fills, and perps on this site are a public test. Mainnet Fledge is not live yet. The live version will be live soon. Wallet connect is real; nothing on this build broadcasts a payable transaction.

Everything here is framed against Robinhood Chain (chain 4663). What is not yet available is listed as such.

  • Connecting a wallet
    MetaMask and Phantom, EIP-1193, on chain 4663.
    ✓ Live
  • Launch intent
    Wallet signature over factory parameters. No value leaves the wallet from this UI.
    ✓ Live
  • Curve quotes and progress
    Shown from each coin's published curve math.
    ✓ Live
  • Spot buy / sell panel
    Signs locally. Does not broadcast a payable transaction.
    ✓ Live
  • Perps on migrated coins
    Book, funding, leverage. Locked on every pre-migrate coin.
    ✓ Live
  • Perps on a live curve
    The engine rejects the market until graduation.
    Never
  • On-chain factory broadcast from Fledge
    The hook that submits launchToken from this interface is not attached.
    Not yet
  • Comment threads
    No on-chain source and no database.
    Not yet

Launching

Pons offers one launch configuration today. These are its parameters, read from the factory.

Launch fee
0.0005 ETH

Paid to Pons, on top of gas, when a factory launch is broadcast.

Total supply
1,000,000,000

Minted to the curve. No hidden creator allocation.

Base trade fee
1.00%

Charged on the quote leg of every buy and sell.

Virtual quote reserve
1.68 ETH

Phantom reserve. Never held, never withdrawable.

Graduation threshold
4.2 ETH

Real quote the curve must take in before it migrates.

The bonding curve

PonsV2BondingCurve is a constant-product curve against a virtual quote reserve. It is not upgradeable, not a proxy, and cannot be sent ETH outside a trade.

quoteReserve = phantomQuote + realQuoteReserve
k            = quoteReserve × tokenReserve
price        = quoteReserve / tokenReserve
progress     = realQuoteReserve / graduationThreshold

Graduation

The curve never sells its whole supply. At 4.2 ETH raised the factory seeds a Uniswap V4 pool on the PoolManager at 0x8366a3…, behind the Pons hook at 0xE5e702…. Liquidity is locked. Nobody withdraws it, including the creator and Fledge.

71.43%
sold on the curve
20.41%
seeds the V4 pool
8.16%
permanently locked

Perps

The Fledge perps engine is a separate market. It does not trade the curve, does not borrow curve inventory, and does not exist as a pair until graduated == true.

  • Mark is the Uniswap V4 mid after migration, not the last curve print.
  • Funding is quoted every 8 hours, paid between longs and shorts.
  • Max leverage is set per market at attach time, 10x to 25x in the current set.
  • A coin that never migrates never gets a book. There is no override.

Fees

Base trade fee
30% Pons · 70% creator-fee recipient
1.00%
Creator tax
The creator-fee recipient, in full
0 to 10%
Launch fee
Pons
0.0005 ETH + gas
Perps taker
Fledge engine, migrated markets only
4 bps
Perps maker
When a rest on the book is filled
1 bp rebate

Curve fees accrue in the Pons escrow at 0xd3AFEB2a57f70eF218Aa82451c51B2fb0416Ac9e. They are never pushed.

Risks

  • Most launches go to zero. The overwhelming majority never migrate. You can lose everything.
  • The first 3 seconds of a launch are taxed at up to 99%.
  • Perpetuals can liquidate your entire margin. Leverage is not free convexity.
  • A book that is not yet attached is not a promise it will be. Only migrated coins have perps.
  • Smart-contract risk applies to Pons V2, Uniswap V4, the Pons hook, and the Fledge engine.
  • This interface is not an official Robinhood product. Robinhood Chain is the settlement layer, not the operator.

FAQ

Can I trade perps before a coin migrates?
No. The engine has no market until the curve graduates.

Can the creator pull liquidity after graduation?
No. The V4 position is locked. There is no unlock date.

Is the supply always 1 billion?
Yes for the only Pons configuration offered today.

Does Fledge custody anything?
No. Your wallet signs. Fledge never holds keys or funds.

Disclaimer

Nothing on Fledge is investment advice, a solicitation, or an offer of a security or derivative in any jurisdiction. Tokens launched on Pons are experimental. Perpetual contracts can return zero. Read the terms and privacy policy before you connect a wallet.

Built on Pons V2, Robinhood Chain (chain 4663), and Uniswap V4. Not investment advice.

Ready to launch one?