Each one closes a failure mode visible in Pons V2 data on Robinhood Chain: 124,016 launches, 1,362 graduations, 51% of volume from bots.
A curve that has not graduated 48 hours after creation closes. Buying stops and every holder reclaims their net deposit minus the 1% trade fee. The reserve of a constant-product curve equals the sum of net deposits, so refunds are fully funded without a subsidy.
Launches priced in NVDAx, AAPLx or HOODx read the Chainlink market-hours feed. While NYSE is closed the refund clock pauses and single trades are capped at 0.5% of reserve, so a weekend gap in the underlying cannot decide a launch.
The creator's opening buy is made atomically with the launch and lands in a vesting contract, not a wallet. It unlocks linearly over 14, 30 or 90 days starting at graduation. The schedule is fixed at creation and printed on every token page.
75% of the 1% trade fee follows rules written at creation: up to 100 weighted wallets, holder dividends paid pro rata in the pairing asset, or an LP boost that deepens the locked pool. Shares are immutable; recipients can be rotated by their owners.
Every launch, graduation, refund and 7-day holder retention is indexed per address across Fletch, Pons, Pools.trade and hood.fun. The result is a 0–100 score on every card. A fresh wallet shows Unrated, which is information too.
Robinhood Chain is built for agentic accounts. Registered agents launch and trade through the same contracts and are tagged on-chain. Every token page shows the human/agent split of holders and volume, and creators choose whether agents can trade from block one.
Competitor terms from public documentation as of September 2026 (docs.ponsfamily.com/v2, pools.trade). “—” means not published.
The launches terminal as it ships at mainnet, running on Robinhood Chain testnet tokens. Real curves appear here from block one; the six numbered elements are what no other launchpad on the chain shows.
Drag through the first two days of a testnet launch. Every path ends in a locked pool or a refund; there is no third state where holders are left with a dead token.
Pair, fee routing, opening buy and vesting are written by the factory at creation and cannot be changed afterwards. What the summary on the right shows is exactly what gets recorded on-chain.
FLETCH is the protocol token of Fletch. Staking it turns launchpad activity into weekly income, cheaper trading, earlier access and a vote on the rules. Nothing is printed to pay for it: every payout is bought on the open market from fees.
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15% of every 1% trade fee, on every curve and every graduated pool, buys FLETCH on the open market. The bought tokens are paid to stakers each week in proportion to stake. The more the launchpad trades, the more you receive.
Stakers pay less of the protocol share on their own trades. The rebate applies automatically to the connected wallet, on curves and pools alike.
The 1,000 mainnet creator slots go by passport score first and FLETCH stake second. When a new pairing asset is approved, stakers can launch against it in the first 24 hours before it opens to everyone. Agents backed by a stake show a verified tag and get higher API limits.
Stakers decide the approved pairing-asset list, stock-token session rules, passport weightings and the length of the refund window. Supply, the fee split and locked liquidity have no admin function and are not votable, by anyone.
Create a fixed-supply token on Robinhood Chain. Buyers trade on a bonding curve until the launch graduates into a permanently locked Uniswap v4 pool, or closes and refunds its buyers.
Every transaction is signed by your wallet. Fletch never takes custody of tokens or funds.
Every launch follows the same path. There is no branch where a creator decides to do something different halfway through, and no state in which holders are left with a token that can neither trade nor be redeemed.
Name, symbol, image, pair, routing, vesting. Full supply mints to the curve. Fee 0.0005 ETH.
Anyone buys and sells against the curve. Price follows supply sold. The refund clock runs.
Curve sells out. Reserves plus the held-back share seed a full-range Uniswap v4 position, locked forever.
Clock hits zero first. Curve closes; every holder reclaims net deposits. Token is retired.
Trading continues on Uniswap v4. The hook charges the same 1% and routes it under the launch's rules.
Graduation runs inside the purchase that finishes the curve. If it cannot complete, anyone can push it; a protocol keeper does so within minutes. The same keeper closes curves whose clock has expired.
A curve that has not graduated 48 hours after its creation block enters Closed. Buying stops. Each holder calls refund(): the curve burns their tokens and returns their net deposit in the pairing asset, less the 1% trade fee already paid.
Because the curve is constant-product, its reserve equals the sum of all net deposits at every moment. Refunds are fully funded by construction, with no insurance pool and no protocol discretion. Anyone can trigger the close; a keeper does it if nobody else has.
For stock-token pairs the 48 hours count only while the underlying market is open. See 03.
Approved pairs at mainnet: ETH, USDG, and the Robinhood Stock Tokens NVDAx, AAPLx and HOODx. Each stock pair reads a Chainlink market-status feed. While the market is closed, the refund clock pauses, a single trade is capped at 0.5% of the curve's reserve, and the token page shows the session state and the next open.
Stock Tokens are not available to persons in the US, Canada, the UK, Switzerland or the UAE. If you cannot hold the pairing asset, you cannot trade the launch, whatever the interface shows.
A creator's opening buy is executed atomically with the launch through the router and transferred to a vesting vault instead of the creator's wallet. It unlocks linearly over 14, 30 or 90 days, starting at graduation. If the launch refunds, the vaulted position refunds like any other deposit.
The schedule is fixed at creation, exempt from the opening snipe tax, and displayed on the token page as share of supply and unlocked percentage.
The trade fee is 1% of the pairing asset in both directions, on the curve and in the pool. 25% is the protocol share: 15% buys FLETCH for stakers and 10% funds the refund keeper and audits. 75% follows the creator's routing rules, written at creation.
Up to 100 recipients, weighted in basis points. Each address can be rotated only by its current owner.
Pro rata to balances at each sweep, claimable in the pairing asset. Never in the launch token.
Added to the locked full-range position after graduation. Deepens the pool; never withdrawable.
Up to 3%, fixed at creation, routed 100% under the same rules. Shown before every trade.
Shares are immutable. Fees accrue in escrow and are pulled, never pushed, so one broken recipient cannot block payouts for the rest.
A passport is a per-address record indexed from public events on Fletch, Pons, Pools.trade and hood.fun. It is summarised as a 0–100 score, recomputed daily and shown on every card and token page.
A passport cannot be transferred. A fresh wallet shows Unrated; the choice to launch from one is itself visible.
Robinhood Chain supports agentic accounts. An agent registers once with an operator address and metadata, then launches and trades through the same contracts as everyone else; the router tags its transactions on-chain. Every token page shows the agent share of holders and of volume.
Creators choose an opening rule: agents may trade from block one, or only after the 5-second snipe window. Untagged automation is still estimated and shown as bot share.
Three independent audits; full reports before public creation opens. All contracts verified on the Robinhood Chain explorer at mainnet.