How to buy and sell on Pons Launcher

pons runs on Robinhood Chain, so an ordinary wallet pointed at that network is the whole setup. There is no account, no sign-up and nothing to approve in advance.

You need ETH on Robinhood Chain for both the purchase and the gas, and gas there is measured in fractions of a cent, so almost all of what you bring goes into the token.

• A wallet with Robinhood Chain added — chain ID 4663
• ETH on that chain, bridged rather than bought there
• The token's contract address, if you are not browsing the launchpad

This is the question people arrive with, so it goes before the rest. If you bought within seconds of a launch opening and received far less than you expected, you were not front-run and the interface was not lying. You paid the opening tax.

Buying opens at 99% and decays exponentially to nothing across three seconds. About a quarter of your money is still being taken one second in, roughly three percent at two seconds, and nothing by the end. The protocol's own documentation says the window is five seconds; the deployed contract returns three. We checked.

The tax exists to make sniping unprofitable rather than to block it, and what it collects is not burned — it joins the launch's trading fee and is distributed the same way. The practical advice is dull and correct: unless you are on the creator's exemption list, there is no version of arriving early that pays. Wait four seconds.

Before a launch graduates, there is no pool and no other side of the trade. The entire supply sits on a bonding curve that will always trade with you in either direction, and price is a function of how much of the supply has been sold so far.

That has one consequence worth planning around: your own order moves the price while it fills. A large buy pays a worse average than the same amount split into several smaller ones — that is arithmetic rather than a fee, and no setting changes it.

Trades on the curve pay 1%. On top of that a creator may have set a tax of up to 10%, fixed when the token was created. It cannot be raised on you afterwards, and it also cannot be removed, so it is worth reading before you buy rather than after.

Selling is never touched by the opening tax, at any point, including during the first three seconds. If you bought into a launch and immediately regretted it, getting out is not penalised by that mechanism.

The curve buys back at whatever the current price is, which falls as you sell, by the same arithmetic that made it rise. The 1% trade fee applies in both directions, and a creator tax applies if one was set.

When a curve has collected 4.2 ETH it closes permanently, and everything it holds seeds a Uniswap v4 pool. From that moment the token trades in the pool instead, and the curve no longer quotes anything.

The position is minted full-range and transferred to a locker with no withdrawal function — not for the creator and not for the protocol. Liquidity on a graduated token cannot be pulled. That removes one specific way of losing your money and no others.

In practice the main thing to notice is that fees and slippage work differently after graduation, because you are trading against a pool and the people in it rather than against a formula.

Four things, all readable on chain, none of which require trusting anyone's description of the token.

• Whether it was bundled — whether wallets named by the creator took the opening free of the tax you would have paid
• Whether those wallets still hold, or have already sold into the people who arrived after them
• Where it sits on its curve, which tells you how far it is from graduating
• The creator tax, which is fixed forever at whatever it was set to

Locked liquidity, a fixed tax and a visible exemption list remove specific, named failure modes. They say nothing about whether a token is worth buying.

A launch is worth what people will pay for it. Everything on this page is about not losing money to mechanics you did not know about, which is a different problem from choosing well.