A platform launch creates one standard Uniswap v4 market with a permanent launch position and a full-range lpTOKEN position.
Every market ends with an immutable lpTOKEN vault bound to one exact Uniswap v4 PoolKey. A platform launch creates the token and its market atomically; an external-token listing binds a vault to a reviewed pool that already exists.
In one transaction, TokenLaunchpad creates a fixed-supply token, initializes its protected static-fee pool and deposits permanent one-sided launch liquidity. The Factory then bootstraps the token's LP vault.
The Factory admits a reviewed, initialized, hookless static-fee pool and deploys a vault around that exact PoolKey. The original token and pool are unchanged.
The PoolKey, token orientation, protected ticks and optional launch-fee source are pinned at deployment and cannot migrate.
Token holders swap directly against the bound v4 pool. lpTOKEN holders instead mint or redeem a pro-rata claim on the vault's exact two-asset backing; lpTOKEN is not a second token-pair market and introduces no separate price to arbitrage.
Platform markets follow both stages. External markets such as CASHCAT begin at Path 2: without a protocol one-sided launch position, there is no launch split or launch-NAV inflow. The positions share one Uniswap pool while keeping their fee accounting separate.
Only fees earned by this permanent position use the creator / NAV / Treasury split.
60% target-side + 20% counter-sideFee-leg allocations, not fixed asset weights.
↓Its full-range LP earnings and public share operations follow the two separate rules below.
Anyone can compound pairable balances. Unmatched or capped balances remain idle, stay in NAV and are redeemable.
Charged in backed lpTOKEN shares on public mint and redeem, never deducted from LP earnings. The current Treasury receives the shares.
A platform launch sends its bootstrap shares to the dead address. Those shares are unredeemable, so the launch-fee NAV they hold accumulates permanently instead of being claimable by anyone — including us.
0.20% of buy volume in ETH + 0.60% of sell volume in TOKENThe NAV legs of the 40/60 target and 40/20/40 counter launch-fee splitThis is a flow, not a fixed endowment: it scales with cumulative volume rather than with the fixed 0.001 ETH bootstrap, because the fees come from the permanent launch position covering the whole supply. Compound then pairs the two legs into the full-range position until one runs out, and both outcomes are permanent. Which leg is left over follows the buy/sell mix and the price level rather than being fixed.
Compounded into the full-range position, where it buys TOKEN as the price falls. It can never be withdrawn.
The leg compound cannot pair sits in the vault with no redeemable claim against it, shrinking effective float.
Two honest limits. This is depth, not a guaranteed price — a large enough sell still moves the market, it just costs more. And when public lpTOKEN holders exist, they own their pro-rata share of the same NAV; only the dead-share fraction is permanent. Curated external-token vaults have no launch position at all, so none of this applies to them.
The CASHCAT replay is a historical model, not a forecast, and excludes launch fees and execution constraints.
Full range stays active but can become almost entirely one asset as price moves.
Arbitrage against stale pool prices transfers value away from passive liquidity.
Concentrated and just-in-time liquidity can dilute full-range fee share.
Aggregators can route volume elsewhere even when the pool remains liquid.
External tokens and creator-launched tokens can fail economically or technically.
Vaults are non-upgradeable; a bug cannot be patched in place.