Docs — Township

Overview

Township is a launchpad on Pons V2. A coin launched here comes with a treasury of its own, and the trading fees that would normally land in the creator's wallet land in that treasury instead.

On this chain a memecoin's price rests on belief, and belief runs out before liquidity does. The creator earns a cut of every trade and carries it away; nothing accumulates underneath. Township changes exactly one thing about a launch: the destination of that cut.

What follows from that one change is the whole product. The treasury fills up as the coin trades. Any holder can burn tokens and take the matching share of it. Divide the treasury by the supply and you get a floor: not a forecast, not a promise, but a number anybody can compute from chain state and claim on demand.

Lifecycle of a township

Sign. The founder picks a levy, a reserve asset and an optional cut for themselves, then signs. Those choices become the charter and are fixed at that moment.
Launch. One transaction deploys the treasury and calls the Pons V2 factory, passing the treasury as the creator fee recipient and the levy as the creator tax. The coin lands on the Pons curve like any other launch.
Trade. Every buy and sell pays the levy. It accrues in the Pons fee ledger to the credit of the treasury, in the quote asset, from the very first trade.
Collect. Anyone may call collect() to move the accrued fees from the ledger into the treasury. Declared shares are taken out of that inflow at that moment; the rest stays.
Graduate. When the curve crosses its threshold, the coin moves into a locked Uniswap V4 pool. The same treasury remains the fee recipient, so the levy keeps flowing.
Redeem. At any point a holder can burn tokens and receive the matching share of everything the treasury holds.

The charter

Five articles, chosen once, then held by a contract that has no owner and no way to rewrite them. A sixth appears only when the founder takes a position in their own coin. This is what the founder signs.

Article	What it decides	Range
01 · Levy	The trade tax paid into the treasury on every trade	1% – 10%
02 · Reserve	What the treasury fills with: a tokenized stock, ETH or a stablecoin	any approved asset
03 · Redemption	Burn tokens, take the matching share of the treasury	always on
04 · Founder cut	How much of the levy stays with the founder	0% – 50% of the levy
05 · Lock	Nobody can spend the treasury; redemption is the only way out	always on
06 · First buy	What the founder bought of their own coin in the launch transaction	0, or an amount

Articles three and five have no setting in version one, and that is deliberate. A treasury you can drain is not a floor, and a redemption you can suspend is not a right.

Article six is written only if it happened. The founder may buy into their own township in the launch transaction, through the same curve and at the same price as everyone else; the factory sends those tokens straight to them and never holds any itself. When the amount is zero the article does not appear, because an article that says nothing on every launch is decoration, not disclosure.

Levy

The levy is an additional trade tax layered on top of the Pons curve fee. Pons pays it to the creator fee recipient in full and never splits it with its own protocol. Because our factory always sets that recipient to the coin's treasury, the levy lands under the coin by construction, not by promise.

It is charged in the quote asset, not in the memecoin, and it applies both while the coin is on the bonding curve and after it graduates into its Uniswap V4 pool.

The first three seconds Every Pons curve also charges a snipe tax: 99% of a buy at the moment of launch, falling to nothing over three seconds. Seventy percent of what it takes goes to the creator fee recipient, which for a township is the treasury, and thirty percent to Pons. So a bot that races into a new township mostly pays for its floor. The founder's first buy is the one buy that must not pay it, and it does not: our factory is exempt, the buy is made in the factory's name, and every token is passed on to the founder in the same transaction. The first version got this wrong and a founder kept 1% of their buy; the fix was proved on a fork against the live Pons at 100% of the fair amount.

Why the ceiling is 10% Pons caps the creator tax at 1000 basis points and the total trade fee at 20%. We do not raise those limits; we read the current ceiling from the Pons factory at launch time, so if Pons ever lowers it, launches fail loudly instead of silently misbehaving.

Reserve

The reserve is what the treasury is made of. It is chosen at launch and cannot change afterwards.

The important detail is that the coin trades in a pair with its reserve. Pons lets a launch pick an arbitrary approved quote asset, so a township paired with NVDA collects NVDA from the first trade onwards. There is no buying round, no oracle, no swap step and nothing to time: the treasury fills with the asset itself.

Kind	Examples
Tokenized equity	NVDA, AAPL, TSLA, GOOGL, META, AMZN, PLTR
Index	SPY, QQQ
Crypto	ETH
Stable	USDG

The floor

The floor is the treasury divided by the circulating supply.

floor per token = treasury holdings / totalSupply

Two properties make it worth putting on the page.

It only goes up from trading. Every trade adds to the treasury and nothing removes from it except redemption.

Redemption does not lower it. A redeemer burns a fraction of supply and takes exactly that fraction of the treasury. Both sides of the ratio shrink by the same proportion, so the floor for everyone still holding is unchanged. This is asserted in the test suite, not just in prose.

Floor is not a price Nothing forces the market to trade at or above the floor. What the floor guarantees is a standing offer: whatever the chart does, you can always burn and take your share.

Redemption

Redemption is a two step flow, because ERC-20 requires an allowance before a contract can burn on your behalf.

token.approve(treasury, amount)
treasury.redeem(amount)

The treasury computes your share before burning:

yourShare = holdings * amount / totalSupply

then burns the tokens and transfers the reserve and any native balance to you. There is no deadline, no vote, no unlock window and no queue. Partial redemptions are allowed; you can burn any amount you hold.

Where every basis point goes

The levy is split once, at the moment it is collected, and only ever out of the newly arrived amount. What already sits in the treasury is never touched by the split.

A worked example. A township sets a levy of 5% and a founder cut of 20% of that levy. Our protocol share is a flat 10% of the levy, named in the charter.

On $100 traded	Amount	Goes to
Levy	$5.00	collected by the treasury
— founder cut	$1.00	the founder, 20% of the levy
— protocol share	$0.50	Township, 10% of the levy
— stays under the coin	$3.50	the treasury

With the default founder cut of zero, $4.50 of every $5.00 stays under the coin.

The founder cannot take more than half The factory rejects any charter with a founder cut above 5000 basis points of the levy. A launch where the founder keeps most of the tax is the thing this protocol exists against.

Built on Pons V2

Township is a launchpad with its own contracts, and it launches through Pons rather than around it. The coin trades on the Pons curve, shows up in the Pons feed, and is visible to every terminal and bot already watching that chain.

What we use from Pons	How
`creatorFeeRecipient`	A launch parameter separate from the deployer. We set it to the treasury.
`creatorTaxBps`	The creator chosen trade tax. We set it to the levy.
`pairToken`	The quote asset. We set it to the reserve, so the treasury collects that asset directly.
Fee escrow	Where fees accrue. The treasury claims from it.
Snipe tax	99% at launch, decaying to zero over 3 seconds (`snipeTaxStartBps`, `snipeTaxSeconds` on the curve). Charged against whoever receives the tokens; the launching factory is exempt. 70% of it reaches the treasury, 30% goes to Pons, swept by a Pons keeper a few hundred blocks later.
Graduation	Handled entirely by Pons. The fee recipient carries over to the V4 pool hook.

We do not fork Pons, do not proxy its trading, and do not hold any position in its pools.

Contracts

Contract	Address	Role
TownshipFactory	not deployed yet	Deploys a treasury and launches the coin in one transaction
Treasury	one per township	Holds the reserve, splits the inflow, serves redemption
Pons V2 factory	0x7eD598BcEf8bd9Edd8C97A195C6d13f40801EC7e	External. Creates the token and the curve
Pons fee escrow	0xd3afeb2a57f70ef218aa82451c51b2fb0416ac9e	External. Where the levy accrues

Network: Robinhood Chain, chain id 4663. Explorer: robinhoodchain.blockscout.com.

Both Pons addresses above were read from the chain, not copied from documentation: feeEscrow() and maxCreatorTaxBps() were called on the factory itself.

Function reference

TownshipFactory

Function	What it does
`launch(params, terms, extra)`	Deploys the treasury, launches through Pons, optionally makes the founder's first buy on the curve, records the charter, emits `TownshipLaunched`
`Terms`	The charter as one argument: config id, pair token, reserve, levy, founder cut, first buy and its slippage floor
`charterOf(token)`	The full charter of a township: treasury, curve, reserve, levy, founder cut, founder, timestamp
`townships(i)` · `townshipCount()`	Enumerate every township ever launched here

Treasury

Function	What it does
`collect()`	Pulls accrued fees from the Pons escrow, pays the declared shares out of that inflow. Callable by anyone.
`redeem(amount)`	Burns your tokens, transfers your pro rata share of every asset held
`holdings()`	Native and reserve balances held right now
`floorPerToken()`	Floor per token, in native and in reserve units
`token` · `reserve` · `founder` · `founderCutBps` · `protocolShareBps`	Immutable charter terms, readable by anyone

There is no withdraw, no sweep, no rescue, no transferOwnership and no upgradeTo. That absence is asserted by a test that walks the contract interface and fails if any of them ever appear.

What holds the charter

Not our good intentions. Four structural facts, each verifiable in the source:

No owner. The treasury has no owner, no admin and no roles. There is nobody who could be persuaded, phished or subpoenaed into moving the funds.
No withdraw path. The only way value leaves a treasury is redeem, and it always pays the caller their exact pro rata share.
No upgrade. The treasury is not a proxy. The code that exists at launch is the code that will be there in a year.
Set once. The token, the reserve, the founder cut and the protocol share are immutable constructor arguments. The factory can name the token exactly once.

What we cannot promise

Pons can redirect a creator fee recipient The Pons V2 factory has an owner-only function that reassigns the creator fee recipient of any launch, behind a three day timelock and a three day execution window. Its own source comments describe this as a standing protocol power, not a narrow lost-key recovery. We do not control it and cannot override it.

What this means in practice: our contracts cannot redirect your levy, and neither can the founder. Pons can, with three days of public notice. If that ever happens to a township launched here, the pending change is visible on chain the moment it is proposed, and we will publish it before it executes.

Other things we do not claim:

We do not promise a price. The floor is a claim on assets, not a bid on the market.
We do not promise the reserve holds its value. A tokenized equity can fall; so can ETH.
We do not custody anything. Every treasury is its own contract, and we cannot touch it.

Risk

The contracts are not audited. They are small, deliberately, and covered by a test suite that asserts the properties above, but small and tested is not the same as audited. Treat early townships accordingly.

Beyond our code, the usual chain risks apply: a bug in Pons, a bug in Uniswap V4, a failure of the tokenized asset issuer, or a chain level incident would all reach your township regardless of how our contracts behave.

Rewards denominated in tokenized equities are issued by third parties and may be restricted in your jurisdiction. Nothing here is investment advice.

Glossary

Term	Meaning
Township	A coin launched through this protocol, together with its treasury and charter
Charter	The five terms chosen at launch and fixed in the contracts
Levy	The trade tax that flows into the treasury
Reserve	The asset the treasury is made of
Treasury	The per-coin contract holding the reserve
Floor	Treasury divided by circulating supply
Redemption	Burning tokens to claim your share of the treasury
Resident	Anyone holding the coin
Founder	Whoever signed the charter

Status

Piece	State
Contracts	written · 19 tests passing, plus a fork test against the live Pons
Factory on chain	deployed · —
Source verification	verified on Blockscout
Charter signing · `/create`	live, including the founder's first buy
Township pages · `/t/…`	live
The map · `/map`	live
Treasury contracts	not verified yet · one is deployed per township
Levy and redemption in the wild	never exercised · no coin has traded yet
Audit	none

This page is updated as pieces land. If a row says it is not built, it is not built.