How Ponduo works

The four steps

A Ponduo launch creates two connected assets in one transaction: a token that will trade, and a limited set of Genesis NFTs. Each Genesis NFT carries a fixed claim on that token, released over time.

1. 1. The creator sets the terms

   Token supply, how it is split between the Genesis NFTs, the pool and the creator, the vesting schedule, the mint price and window, and the liquidity rules. The contract checks every rule and prices the pool before anything is sold.

2. 2. Supporters mint Genesis

   During the mint window anyone mints Genesis NFTs at the fixed price, in ETH or USDG. A holder window can give an existing collection first access.

3. 3. The token opens for trading

   When the mint sells out, or ends above its minimum, the launch opens: part of the raise and the liquidity tokens become a Uniswap v3 pool against the chosen asset, locked forever, and every claim clock starts. The launch page shows each locked allocation and the claim terms.

4. 4. The claim travels with the NFT

   Holders claim what has vested whenever they like. Sell a Genesis NFT and its unclaimed part goes with it. The contract records what each NFT has claimed, so the same tokens can never be claimed twice.

What a Genesis NFT carries

Each Genesis NFT is an ERC-721 token with a number, named after its launch. It carries:

• A fixed allocation of the launch token, the same for every NFT of that launch.
• A release schedule: a share unlocked when trading opens, an optional cliff, then an even release over the release length.
• Its own record of what it has claimed. The record belongs to the NFT, not to the wallet, so it moves on every sale or transfer.
• Access to its launch's holder room in the forum, where Genesis holders and the creator post.

The card each NFT shows on marketplaces is drawn on chain from live figures: allocation, claimed, claimable now and status. No outside server is involved.

Vesting, with an example

For one Genesis NFT with allocation A, a share unlocked at open, a cliff and a release length:

Before open

nothing

From open until the cliff ends

A x unlocked share

After the cliff

unlocked part + (A - unlocked part) x time since the cliff / release length

At the end of the release

A, all of it

What an NFT can claim at any moment is what has vested minus what it has already claimed.

Example. An allocation of 10,000 tokens, 20% unlocked at open, a 30 day cliff and a 90 day release.

• Day 0 to day 30: 2,000 tokens are claimable.
• Day 60: 2,000 + 8,000 x 30 / 90 = 4,666.66 tokens have vested.
• Day 120 and later: all 10,000.

If the holder claims 2,000 on day 10 and sells the NFT on day 60, the buyer can claim 2,666.66 right away and the rest as it vests. The seller cannot claim from that NFT again.

The creator's allocation follows the same curve with nothing unlocked at open, its own cliff and its own release length.

Holder windows

A creator can give an existing NFT collection first access. Until the holder window ends, only wallets holding that collection can mint: one Genesis for each NFT they hold, and each of those NFTs works once per launch, whoever holds it later.

Any ERC-721 collection on Robinhood Chain can be picked, the Genesis collection of another Ponduo launch included. The collection is the creator's choice; the launch page shows it by its own name.

If the minimum is not reached

Every launch sets a minimum number of Genesis NFTs to open. If fewer are sold by the end of the mint window, the launch fails and every Genesis NFT refunds its full mint price, in ETH or USDG as it was paid. The whole token supply is burned and no fee is taken.

A launch also fails if the creator cancels it before it opens, or if it is not opened within 30 days after its mint window ends. Refunds are claimed from the launch page or your profile.

Liquidity and fee routing

At open, the chosen share of the net raise and the matching tokens are placed in a full range Uniswap v3 position, at the listing price set when the launch was created. The position is held by the Ponduo liquidity locker, which has no function to withdraw it: the liquidity is locked forever.

The pool's trading fees (0.3% or 1%, picked by the creator) accrue to that position. Anyone can send them to the launch's current creator. The rest of the raise goes to the creator when the launch opens. Tokens that the raise does not pair, and the allocation of unsold NFTs, are burned.

Liquidity pending

Anyone can move an empty pool before a launch opens. If that happened, the launch still opens, but its liquidity waits in the locker and the launch page says the liquidity is being aligned. Anyone can press Align there: each step trades the pool back toward the listing price, and the liquidity is locked for good once the pool sits exactly at that price. Every trade a step makes is at the listing price or better for the launch, and claims work meanwhile.

Dual pairs

A creator can give a launch a second pool in the other asset: a launch paired with ETH can also trade against USDG, and the other way round. Supporters still mint and refund in the first asset only.

The creator picks the share of the liquidity that goes to the second pool, from 20% to 80%. At open that share of the pool's raise is converted through the WETH/USDG pool at the market price, and the same share of the liquidity tokens goes with it, so both pools list at the same price. Both positions are locked forever, and the fees of both go to the creator.

The conversion only runs close to the ETH price of the last few minutes. If the price just moved fast, opening waits and anyone can try again a few minutes later; the launch page says so. Until the launch opens, the creator can drop the second pool, and the launch then opens with one pool that gets all of the liquidity. On the launch page a pool switch picks which pool you trade in and which one the chart shows.

Fees

• Launch fee: 0.0005 ETH, paid once by the creator when the launch is created.
• Protocol fee: 1% of the mint proceeds, taken only when a launch opens. It is fixed for each launch when the launch is created.
• Pool fee: 0.3% or 1% of each trade, paid by traders to the locked position and sent to the creator. A launch with a second pool uses the same fee in both.
• A failed launch pays no fee: every Genesis NFT refunds its full price.
• Network gas on Robinhood Chain for every transaction you send.

Risks

• Tokens and NFTs can be volatile or lose all value. A fixed listing price is not a floor.
• Smart contracts can have flaws even after review. Transactions are final.
• The creator decides the terms, can open early once the minimum is reached, and can cancel until the launch opens (everyone is then refunded).
• Names and images are chosen by creators and can imitate others. The token address is the one reliable identity: check it before you mint or trade.
• USDG is issued by a third party that can pause or freeze it, which could delay USDG payouts.
• Holder rooms and the forum are public and permanent. Never post private information.

FAQ

Can the same tokens be claimed twice?

No. Each Genesis NFT keeps its own claimed amount, and a claim pays only what has vested beyond it.

Do I need to claim before selling my Genesis NFT?

No. Whatever you have not claimed goes to the buyer with the NFT.

Who can open a launch?

Anyone, once it sells out or its window ends above the minimum. The creator can also open it early once the minimum is reached.

Can the creator withdraw the liquidity?

No. The position stays in the locker forever. Only its trading fees can be collected, and they go to the creator.

What happens to Genesis NFTs that were never minted?

Their token allocation is burned when the launch opens.

Where do I see my Genesis NFTs and claims?

On your profile, with a Claim button for each launch and any refunds waiting for you.