Every rule.
What the pad does, in the order it does it. Every number on this page is a constant in the pad's code. Nobody can change them.
Launching
Anyone can launch a coin for 0.002 ETH: a name up to 32 bytes, a ticker up to 10, a picture. The pad mints 1,000,000,000 coins and puts every one of them into a new Uniswap v3 pool (1% fee tier) as one-sided liquidity, starting at a market cap of about 1.5 ETH. The creator may buy up to 0.1 ETH in the same transaction, about 6% of the supply at most.
The liquidity position is an NFT held by the pad. The pad has no function that moves, withdraws or sells it. The creator holds no fee share and no key. Each coin's address depends on a random value sent with the transaction, so nobody can create its pool ahead of time.
Fees
Every swap pays the pool's 1%. Buys pay it in ETH, sells pay it in the coin. Anyone can call harvest to collect a coin's fees. The coin side is sent to the burn address. The ETH side is split:
| Parent's holders | Own treasury | Pad | |
|---|---|---|---|
| Coin with no parent | 0% | 85% | 15% |
| Baby | 50% | 35% | 15% |
Births
A coin is ready when its treasury holds 0.5 ETH. If nothing on the whole pad has been born for 48 hours, the bar drops to 0.25 ETH, and it stays there for good: a birth never puts it back up, so no coin ever loses progress it had made.
When a coin is ready, a wallet holding at least 1% of it can call birth and name the baby: name, ticker, picture. Six hours after the coin was marked ready, any wallet can. The whole treasury then makes the baby's first buy, and the coins it buys go to the burn address. The baby starts life with that much of its supply gone.
A coin has three babies. After the third, its treasury share (85% or 35%) is paid to its own holders instead. Babies have babies by the same rules, and pay their own parent the same way.
Paying holders
Each coin keeps an on-chain ledger of what every wallet is owed. When ETH arrives for a coin's holders, it is released over the next 12 hours, second by second, and each second's share is divided pro rata to balances at that second. Buying just before a payout and selling just after earns close to nothing. The pool, the pad and the burn address hold coins but earn nothing; only people do. Selling or sending your coins never takes away what you already earned.
You can claim what you are owed any time. Anyone can also call claimFor your wallet; the ETH can only go to you. A contract that can't receive ETH can use claimTo to send its share elsewhere. Until at least 1,000,000 coins are held by people, released ETH waits and joins the next payout.
The pad's share
The pad's 15% and the launch fees go to the $ROOTHOOD buyback contract, which buys $ROOTHOOD and burns it. Anyone can send them on, once an hour, at most 0.25 ETH a time, so there is never a large pot to squeeze. The owner can set that buyback contract once, then renounce. That is everything the owner can do.
What can go wrong
A coin with no trading earns nothing, has no babies and pays nothing. Payouts are a share of fees, not a yield. Prices can go to zero. The pad is new code; read it before you put in anything you can't lose.