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

1. 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.
2. 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.
3. 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.
4. 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.
5. 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.
6. 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.

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.

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.

The floor

The floor is the treasury divided by the token's total supply, which includes tokens still held by the Pons curve or pool (see Sharp edges).

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.

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.

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

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.

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

Contracts

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

Treasury

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.

Evidence, not an audit

Nobody outside this project has reviewed the code. What exists instead is listed here, so you can weigh it yourself, and every line of it can be checked.

What has not happened on the live chain yet:

• No redeem has been sent. It has run only on a fork, with a real coin and a real treasury. A fork run is strong evidence, but it is not a receipt.
• No township has launched through the current factory. The fixed first buy has been proved on a fork only.
• No township has graduated. The fee recipient carrying over to the Uniswap V4 pool is Pons behaviour we have read in its code, not watched happen.

Sharp edges

Things that are true about Township by design or by circumstance, and that you should know before you put money in.

• The floor is spread over the whole supply. Redeem divides by totalSupply, and that includes the tokens still held by the Pons curve or, after graduation, by the pool. Those tokens are never redeemed, so early on a holder's share is far smaller than the treasury divided by the tokens in wallets. On the fork, burning 14,880 SPIRE against a supply of one billion paid 0.000000044 ETH.
• Redeem counts only what is already in the treasury. Fees still waiting in the Pons escrow are not part of anyone's share until they are collected. The coin page handles this: when anything is waiting, its redeem button collects first, at the cost of one more signature. If you redeem straight from the explorer, call collect() first, or your part of it stays behind for the other holders.
• The founder buys first. The first buy happens inside the launch transaction, before anyone else can trade, at the curve's opening price. It is disclosed as article six with the exact amount, but it is an advantage by construction.
• No anti-bot guarantee. The Pons snipe tax makes the first three seconds expensive and sends most of what it takes to the treasury. It does not identify people and cannot stop someone spreading buys across many wallets once the window has passed.
• Part of the flow runs on Pons's schedule. The treasury's share of the snipe tax reaches the escrow only when a Pons keeper sweeps the curve, a few hundred blocks later. We do not run that keeper.
• Old townships keep old flaws. Townships launched before the first buy fix stay on the factory that made them. The founder of SPIRE #2 kept about 1% of their first buy, and nothing can change that afterwards.
• Nothing can be corrected. No owner also means no fix. A mistake in a signed charter or a bug in a deployed treasury stays for the life of the coin. A new version means a new factory, and existing townships do not move to it.
• The site is a convenience, not the contract. Pages read the chain through public RPC nodes that rate limit bursts. The site paces its reads and falls back to a second node, but if a page still shows nothing, the explorer is the source of truth, and every treasury function is public and can be called without this site.

What we cannot promise

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. What we have instead is listed under Evidence, not an audit.

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

Status

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