> For the complete documentation index, see [llms.txt](https://docs.unstable.run/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.unstable.run/under-the-hood/fair-launch.md). # Fair-launch model "Fair launch" gets thrown around a lot in memecoin marketing. On Unstable it means something specific and enforceable: * **No creator vault.** 100% of the supply is minted into the LP position at t=0. There is no reserve, no team allocation, no locked pot the deployer can drain later. * **No vesting cliff.** Whatever the deployer wants to own has to be **bought through the pool**, capped at 5% of supply at launch time. * **No pre-sale.** There's nowhere private — every trade goes through the canonical Uniswap V3 pool from the very first block. * **Immutable metadata.** Name, symbol, logo, description, socials — every field is set once in the constructor. Nobody, including the deployer, can rewrite them. ## The supply story Every Unstable token is a fixed-supply ERC-20 with: * `totalSupply = 1_000_000_000 * 10**18` (1 billion tokens with 18 decimals) * No `mint()` function on the token contract * No `burn()` function (though anyone can send to `0x0…dEaD` if they want) * No `pause()`, no `blacklist()`, no `owner()` The token contract inherits nothing weird — just OpenZeppelin's `ERC20` + `ERC20Permit` (for EIP-2612 gasless approvals). The bytecode is deterministic across every launch, which is why StableScan auto-verifies subsequent tokens once the first is verified. ## The 100%-to-LP mechanism Immediately after `CREATE2`-deploying the token, the factory: 1. Approves the Uniswap V3 NonfungiblePositionManager (NFPM) to spend the full 1B supply. 2. Creates the `TOKEN/USDT0` pool at the 1% fee tier if it doesn't exist yet, and initialises it at the anchor tick. 3. Verifies the initialised tick matches the anchor exactly (defence against front-run pool init at a hostile price). 4. Mints a **single-sided liquidity position** — 100% of the supply on the token side, zero USDT0 on the quote side — with the position NFT sent directly to the LP Locker contract. The NFT never touches the deployer's wallet. There is no intermediate address the deployer can point at. `NFPM.ownerOf(positionId) == LPLocker` from the first block. ## The 5% cap The one path by which a deployer can end up holding any of their own token is the optional **initial buy** — swapping USDT0 through the freshly-created pool inside the launch transaction. The factory has a hardcoded cap: ```solidity uint16 public constant INITIAL_BUY_BPS_MAX = 500; // 5% of supply // ... if (tokensOut > MAX_INITIAL_BUY) revert InitialBuyExceedsCap(); ``` If the swap would leave the deployer holding more than 50,000,000 tokens (5% of 1B), the entire launch transaction reverts. No partial fill, no re-attempt with less — the whole thing rolls back. See [Optional initial buy](/launching-a-coin/initial-dev-buy.md) for the practical side. ## What this buys you If you're a trader looking at a fresh Unstable launch, the fair-launch model guarantees: * At block-of-launch, **no wallet holds more than 5% of supply** (assuming an initial buy at all). * Every trade **funnels through the same pool** as yours. * The **metadata is what it appears to be** — nobody can rename or resocial after launch. * The **supply won't change** — no dilution surprise later. If you're a builder looking to integrate: * Every launched token has an **identical runtime bytecode**, differing only in constructor args. Indexers can pattern-match. * Every launch emits **exactly one `TokenLaunched` event** with the full metadata bundle. * The pool address is deterministic from `(token, USDT0, 10000)` via V3 Factory. ## What it doesn't buy you The fair-launch model doesn't: * Prevent someone else — including a bot — from sniping the launch harder than you did. * Guarantee liquidity or price. * Prevent the deployer from selling their initial buy later. * Make the token a good investment. It just guarantees that the *starting conditions are fair*. What happens after is a market. ## Next * [Pool & starting price](/under-the-hood/pool-and-price.md) — where the \~$2K anchor comes from * [Fees & creator rewards](/under-the-hood/fees-and-rewards.md) — the ongoing revenue side * [LP position lock](/under-the-hood/lp-lock.md) — how the "locked LP" claim actually works --- # Agent Instructions This documentation is published with GitBook. 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