One launch transaction

A launch deploys the token, a static price provider and a Metric pool, then seeds the pool before any external trade can reach it. An optional creator buy runs last inside that same transaction; it is a purchase through the opening book, not a token allocation.

Price discovery lives in the ladder

The launch schedule is compiled into 100 discovery bins and 20 post-launch wall bins. Metric reads one fixed provider reference for a swap, while its cursor walks the shaped bins and charges every marginal level crossed. A large order therefore remains one Metric swap; the current router does not slice it into repeated swaps.

The whole supply starts in the pool

The token supply is seeded single-sided above the opening cursor. The seed position belongs to the burn address and Metric allows only the position owner to remove it, so neither the creator, the launchpad owner nor a later application version has a withdrawal path. Quote paid by buyers becomes pool depth.

Trading guards are enforced on-chain

The direct router verifies that the launch and quote token match the pool's current provider before pulling funds. It executes one exact-input Metric swap, accounts from balance deltas, refunds unspent input, and enforces a deadline and minimum output. Native settlement is wrapped and unwrapped inside the route.

Completion and graduation are separate

The provider records settled net quote until the target is reached and atomically rejects a buy beyond the snapshotted maximum raise. Sells are not capped by that guard. Reaching the target marks the curve complete; the static provider continues quoting, so trading does not wait for a keeper. A later permissionless graduation call records fixed mode or replaces the provider with the launch's preselected rate-limited ratcheting mode.

Revenue is fixed before trading

The whole visible spread stays in pool depth. A separate 1.00% Metric notional fee accrues in each swap's output token and is paid to the launch's immutable reward vault. Before signing, the creator fixes the portions reserved for QU-routed trader cashback and creator rewards; their sum cannot exceed the fee, and the protocol receives the remainder. Buy rewards are paid in launch tokens, sell rewards in quote.

Metadata and generations are immutable

A token's metadata URI is a constructor argument with no setter, so changing the document would mean a different token address. Previously deployed dynamic-provider launches remain immutable and indexable; they may still use the historical slicing router. New static launches use the direct router and never rely on slicing for price discovery or safety.