Glossary

The words, defined once, so the group chat can stop arguing. Every definition here is the contract's, with the Fly's commentary after the dash. 🪰

Band — one of the protocol's permanent USDG bids: a Uniswap V4 position ten tick-spacings deep, starting just under the reference price, owned by the hook, with no withdrawal path. Concrete, poured.

Bonding curve — a launch's BondingPool: sells 80M of its 100M tokens on a constant-product curve (virtual reserve 20% of the target), 1.1% per trade, until $3,000 is raised. The runway.

Bounty — what compound() pays its caller: 0.5% of the tranche, 3 USDG at most. The keeper has first call; after six idle hours it is anyone's.

Child pool — a graduated launch's Uniswap V4 pool, run by LaunchHook: hook-held liquidity with no removal path, a 0.80% protocol fee split 50/30/20 and a 0.10% swap fee on every swap, and every 15 minutes its locked liquidity's fees burn the child token and build its floor. The kid the hive keeps.

Compound — compound(): moves up to 2,000 USDG from the pot into a band, and burns the FLY the floor has earned, once per 30 minutes. The keeper presses it first; anyone may after six idle hours (or any time with no keeper set). The jar, tipped.

Controller — the key that sets the keeper, the keeper's bounty (0–0.5%) and the fee pause. It cannot touch the fee, its split or the curve, which are immutable. Two-step transferable. Has knobs, not levers.

Creator — the key that receives its share of the protocol fee. Two-step transferable. The dev's wallet, disclosed as such.

Dynamic fee — Uniswap V4's flag that lets a hook set the LP fee per swap. The Living Pool requires it. The weather needs somewhere to live.

Fee, LP — 0.20–0.75% per swap, to all liquidity providers pro rata. Set by the weather and the swap's own impact. The storm pays whoever stood in it.

Fee, protocol — 0.90% (cap 1%) of the USDG side of every swap, split between the creator and the pot. The rent.

Floor — the stack of bands, taken together. Grows at 0.45% of USDG volume. Slow. Say it with us: slow.

Furnace — FlyFurnace: collects the launchpad's share of every fee and turns it into burned $FLY: swap to USDG, buy $FLY through the Living Pool, burn. A keeper runs it (autoBurn, guarded on chain so a sandwich makes it revert); the FLY owner can run it by hand (burn) as the backup. The incinerator.

Graduation — the moment a launch's curve reaches $3,000: LaunchHook opens its child pool at the curve's final price and burns the leftover tokens, inside the buy that crossed the line. Cap and gown, same block.

Hook — FlyHook, the contract Uniswap V4 calls before and after every swap in the pool. The brain.

Impact — how far a specific swap is projected to move the price; the part of the fee the causer pays. The whale tax.

Keeper — the hot key the controller names to press compound() on a schedule, for the bounty. It can do nothing else. The launchpad's furnace has its own keeper for autoBurn. If a keeper is quiet for six hours, compound() opens to everyone.

LaunchHook — the one hook behind every child pool: sets the LP fee (3.00% falling to 0.35% over 30 minutes), takes the protocol fee, holds each pool's founding liquidity for good. The launchpad's brain.

Living Pool — the FLY/USDG pool plus its hook. The vending machine that started thinking.

Pairing asset — what a launch is bonded to for life: USDG, ETH, $FLY or one of seven stocks (SPY, NVDA, META, AAPL, MSFT, AMZN, GLD). Its $3,000 target is set in that asset. The launch's native tongue.

Pending / the pot — pendingLiquidityUsdg: protocol fee collected for the floor and not yet compounded. A USDG balance held by the hook. Honey that is not yet concrete.

Pool creator — the key that created the pool and opened trading. Immutable; nothing left for it to do after launch. Retired on day one.

Premine buy — a launch creator's optional first buy, made inside createLaunch itself, before anyone else can see the token. The only unsnipeable buy there is.

Reference price — what a band is priced against: the current price or its 4-hour time-weighted average (it spans four to eight hours), whichever gives the lower FLY price. The launchpad's furnace uses the same number to refuse a burn into a pumped price. A single transaction cannot raise it. Anti-pump-and-compound.

Seed — the position that opens the pool: the creator's USDG and 99% of FLY at full range, one Uniswap position NFT. Not the hook's; see Seed locker.

Seed locker — FlySeedLocker: the contract that holds the seed NFT until its unlockAt (15 days from launch to start; extendable, never shortenable). Its owner can collect the seed's LP fees meanwhile and nothing else. Read unlockAt(), not the tweet.

Regime — the market's rough-ness score, 0–100: an average of recent price moves that halves every 15 minutes of calm. The forecast.

Tick spacing — 200 for this pool; bands are placed on multiples of it.

Tranche — the most one compound() may lock: 2,000 USDG. One scoop per half hour.

Turbulence — the regime score as shown on the dashboard.

USDG — Global Dollar, Paxos's stablecoin, 6 decimals, native on Robinhood Chain. The pool's quote asset and the currency of every fee. Dollars, with an off switch that is not ours.

Weather — SUNNY / SWARM / FOG / STORM / CHAOS: the regime score in five buckets. Vibes, with a number underneath.