Docs

The curve and the pool

Every token starts on its own bonding curve against ZRO, with the same supply and the same price path as every other launch. Buyers and sellers trade with the curve directly. The curve opens as if — were already in it; that amount is virtual and sets the first price.

When buyers have put in —, the curve completes at — its opening price. The raise and the tokens left in the curve open a full-range Uniswap v4 pool at the curve's last price, and the liquidity position is locked in a contract that has no way to withdraw it. Trading carries on in the pool.

Supply per launchminted once, to the curve

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Virtual opening reserve

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Graduation thresholdraised from buyers

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Pool fee / tick spacingthe hook charges the trade fee

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The step-by-step version with every figure is on How it works.

Launching a token

One transaction creates the token, its curve and its fee settings. A creator picks a name, a ticker, a logo, a short description and links, a creator fee of up to — and where the creator side of the fee goes. The creator can also buy in the same transaction, at the opening price, before anyone else trades.

• The launch fee is —, paid in ETH with the launch.
• Nobody holds tokens before trading opens, the creator included. There is no presale and no team allocation.
• The creator fee rate is fixed at launch. Whoever receives the creator side can later switch the buyback on or off, or hand the creator side to the holders.

Create a token

Fees

Every buy and sell on the curve pays a — trading fee in ZRO, on the ZRO side of the trade. After graduation the pool's hook charges —. The protocol takes — of the trading fee and the creator side takes the other —. The creator fee, set at launch, is added on top and goes to the creator side whole.

Trading fee, curve

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Trading fee, pool

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Protocol share of the trading fee

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Creator feechosen at launch

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Fees collect in the curve or the pool and are swept to the fee escrow. Creators claim theirs from Creator fees.

Buyback and holders

The creator side of every fee is split three ways, in shares the creator chooses at launch and cannot change later:

• To a fee wallet, the creator's or any other address (with the creator fee).
• Buyback: the launch's own token is bought back and burned, or vested over — to the creator and the protocol. On launches made the original way, buyback is a switch: while it is on, — of the creator side buys back and vests.
• Holders: their share is paid out among the token's holders in rounds, and each holder claims their share.

$AXR

$AXR is Axera's own token, launched on Axera like any other. The protocol's share of every fee goes to a treasury contract. — of it buys $AXR on the open market and burns it in the same transaction; the rest is booked to the team. $AXR's own creator fees go to the treasury too.

Share that buys and burns

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Budget periodeach period spends the budget it starts with

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Time between buys, at least

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Size of one buy, at mostof the market's ZRO reserve

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The treasury has no function that withdraws ZRO or $AXR. Like every Axera contract it sits behind an upgradeable proxy. Live totals and every buyback are on the Flywheel.

Trading

You pay in ZRO and sell into ZRO. Each trade sets a minimum you accept, from your slippage setting, and reverts rather than fill below it. In the first — after a launch, buys pay a snipe tax that starts at — and falls to zero; sells never pay it. Those are the standard terms: a creator can set others at launch, turn the tax off, or schedule the opening for later (nothing trades before it, and the window starts then). On such launches the tax buys tokens that are burned in the trade.

• On the curve, the curve is the other side of every trade: there is no order book, and the price is the curve's price for that size.
• After graduation, trades go through the pool. The token page switches over by itself.
• ZRO has no signed approval (EIP-2612 permit), so spending it takes an approval transaction first. On Sepolia the ZRO is a test token with a faucet.

Get ZRO

Network and RPC

Network name

Sepolia

Chain ID

11155111

RPC URLa public endpoint

https://sepolia.gateway.tenderly.co

Currency symbolgas

ETH

Block explorer

https://sepolia.etherscan.io

Gas is paid in ETH. Trades and fees are in ZRO, so a wallet needs a little of both.

Contracts and ABIs

Integrating

• Every launch emits TokenLaunched on the launch factory. Read from block —, when the factory was deployed. Each launch has its own token and curve address.
• Curve trades emit CurveBuy and CurveSell on the launch's curve. CurveCompleted marks the fill and PoolGraduated on the factory marks the pool opening.
• To buy on the curve, approve the curve for the ZRO amount and call buy(quoteIn, minTokensOut, recipient). To sell, approve the curve for the tokens and call sell(tokensIn, minQuoteOut, recipient).
• A graduated pool's key is the two currencies sorted by address, fee —, tick spacing — and the hook address. The swap router's swap pulls ERC-20 input through Permit2.
• Creator fees are credited in the fee escrow; the recipient claims with claim() for ETH or claimToken(token) for ZRO and launch tokens.