A Launch, Start to Finish

The buzz

Name, ticker, logo, pick what it pairs with, press LAUNCH. That's the creator's whole job. The rest is a machine: a curve that prices every buy, a finish line at $3,000, and a graduation that happens inside the buy that crosses it — no "migration in progress", no bot racing you to an empty pool, no dev holding the button. 🫡

The boring part

The lifecycle

The lifecycle: createLaunch with 0.0006 ETH opens the bonding curve; buys and sells trade on the curve; the buy that raises $3,000 graduates the launch in the same transaction; after that it trades in its child pool on Uniswap V4 with the LaunchHook, where swaps pay the LP fee plus 0.90% (0.80% protocol fee plus 0.10% swap fee).

Launch. The creator calls createLaunch with 0.0006 ETH. The factory deploys the token (100,000,000 supply, fixed — no mint function after this) and its BondingPool, and hands the pool the entire supply. The contract also takes an optional premine buy in the same transaction: the creator's own first buy, executed before anyone else can see the token exists. Sniper-proof by construction. (The launch page doesn't offer it yet.)
The curve. Anyone buys and sells against the BondingPool. The price follows a constant-product curve with a virtual reserve of 20% of the target, so it opens low and rises with every buy. Every trade pays 1.1%.
Graduation. The target is $3,000 of the pairing asset, fixed in that asset's units when the token launches (priced through its pool against USDG). If the pairing asset's price moves afterwards, the target's dollar value moves with it: Launching Well. The buy that reaches it graduates the token in the same transaction: LaunchHook takes the 1.2% graduation fee from the raise, opens a Uniswap V4 pool at the curve's final price, seeds it with the other 98.8% and the tokens that go with them, holds the position itself, and burns the tokens left over. Trading on V4 opens in that same block.
Child pool life. From then on the token trades in its V4 pool under the hive's hook. Every swap pays the LP fee, the 0.80% protocol fee and the 0.10% swap fee, and every 15 minutes the hook's locked liquidity burns child tokens and builds the child's floor — see Launchpad Fees and Pairings.

If a filling buy arrives without enough gas left for the graduation (the contract reserves 700,000; the measured need on testnet was about 520,000), the buy still goes through and the pool waits in GraduationPending; anyone can then press GRADUATE on the token page, which calls graduatePool and does the same thing.

The graduating buy, step by step

The graduating buy, step by step: you buy on the BondingPool and cross $3,000; the BondingPool sends your tokens; it calls graduatePool on the LaunchHook, which takes the raised funds and tokens; the LaunchHook initializes the Uniswap V4 pool at the curve's final price, adds the full-range position (held by the hook) and burns the leftover tokens; trading opens in the same transaction.

Between taking the raise and opening the pool, LaunchHook takes the 1.2% graduation fee from it, split between the FLY owner and the FlyFurnace.

The shape of every launch at $3,000

Virtual quote	Target	Opening price	Sold on the curve	Final curve price	Rise	Into the V4 pool	Burned	FDV at graduation
600	3,000	7.500e-6	66.7M	2.700e-4	36.0x	11.0M	22.4M (22.4%)	20,964

Prices and FDV are in units of the pairing asset (for a USDG launch, dollars). The minimum gross buying to graduate is 3,033.37, of which 33.37 is the 1.1% curve fee. At graduation 36 of the 3,000 raised is the 1.2% graduation fee; the pool is seeded with the other 2,964 and the ~11.0M tokens that match them at the curve's final price.

What the creator earns

Nothing on the curve — the curve fee goes to the hive — and 50% of the protocol fee on every swap, forever, once the token graduates. The creator's only pre-graduation play is the premine buy. So the one way for a creator to get paid is to make the thing actually graduate. Aligned incentives, ser. 🧠