Launchpad Field Guide · Fee Machinery

How each launch platform routes fees, and whether stock accrual is provable · verified on-chain · Sep 09, 2026

Why this matters: a token's launchpad decides whether “we're accruing the underlying” can be proven at all — and on the same platform, teams run opposite policies (one long.xyz token recycles fees through its own contract; another burns the meme side and re-LPs the stock side). Every claim on this page was verified by reading balances, transfer flows or transaction initiators; the working notes live in accrual-registry.json. Platform choice is becoming a DNA-checklist item in its own right.

Platform	Chains	Verdict	In one line
Pons v2	Robinhood	fully attributable	Bonding-curve pad where fees accrue IN THE STOCK; creator claims from a shared escrow. Clean, immutable, fully attributable.
Bankr / Doppler	Robinhood · Base	depends on the team	95% of fees route to a configured recipient wallet. What happens next is pure team policy — some stack, many cash out.
long.xyz	Robinhood	per-token policy	The product-menu pad: recycle, burn + re-LP, or factory-deployed community vaults (22+ live, automated). Also issues 3x/5x leveraged synthetic stocks.
Lunch	Robinhood	automated dividends	Fully automated stock dividends to holders via a swap-tax hook — the accrual machinery ships with the launch itself.
Stratton Market	Robinhood	penny stocks	Tokenizes penny stocks via its own SPV custody, then memes launch priced in them. Graduated liquidity locked forever.
Circus	Robinhood	creator claims	Stock fees paid rolling to the creator's wallet; posture is per-team ($CRUDECAT re-LP'd and airdropped shares to holders).
pair.fund	Robinhood	not attributable	Every launch's fees pool into ONE shared locker — accrual can never be attributed to a single token. Structurally unprovable.
'StockVault' (operator unidentified)	Robinhood	unattributed	A shared multi-stock vault drip-feeding six stocks; operator never identified. Holdings visible, intent unknowable.
stonkfun	Solana	flywheel burns	Solana flywheel: platform buys and burns its top-15 tokens by market cap. Automated, but grows tokens rather than stock positions.
Solana / Base / BNB scenes	Solana · Base · BNB · Ethereum	not yet fingerprinted	Everything not yet fingerprinted — smaller scenes where the fee machinery hasn't been traced claim-by-claim.

Pons v2

fully attributableRobinhood

Fees paid in: The pairing asset — a stock-paired launch is paid in the stock itself, by protocol.
Where fees go: Bonding curve per launch (holds everything it collects) → graduation into a locked Uniswap v4 pool → singleton hook accrues fees into a shared escrow with per-creator claimable balances → claims land in the creator's chosen payout wallet.
Team customization: Deliberately minimal: after launch a creator controls only the payout wallet and the optional buyback (which vests bought-back tokens over five years, split creator/protocol). Supply, pricing, pairing and graduation terms are immutable.
How we verify: Pre-graduation: balanceOf the launch's own curve (tagged PonsV2BondingCurve). Post-graduation: watch claims out of the fee escrow 0xd3AFEB2a… into the payout wallet — that wallet becomes the trackable vault. All contracts published in their docs.
From our book: Curves already visible holding HIMS and NVDA in our top-holder scans. Platform token $PONS (0x39dBED3a…) is the LARGEST token in the whole stock-paired ecosystem: ~$306M cap, $3.8M liq, $7.6M daily volume — 3x $AI. Beware: four fake PONS tokens squat the name, including two zero-volume seeded honeypots and an airdrop phisher; key on the address.

Bankr / Doppler

depends on the teamRobinhood · Base

Fees paid in: Both pool tokens — 95% of swap fees route to a configured recipient, so a stock-paired launch accrues the stock and the meme side.
Where fees go: Doppler pool fees → per-token fee recipient wallet (Bankr publishes the recipient's X handle in its launch records — our fees tab reads it daily). What happens next is pure team policy.
Team customization: High: the recipient is just a wallet, and what happens next is team policy — some stack, many simply cash out. Self-directed recipients (deployer = recipient) are flagged on our Robinhood board.
How we verify: stock-pair-fees.json carries recipient wallet + handle + claim counts per token; balanceOf the recipient shows whether a vault is forming.
From our book: Most of the Robinhood fees tab ($SAYLORMOON, $GG and peers).

long.xyz

per-token policyRobinhood

Fees paid in: Both pool tokens, claimed from the Doppler hook by a published per-token fee contract.
Where fees go: Pool fees → per-token fee machinery, with a PRODUCT MENU of modes: (1) recycle — $BONER's contract holds 1.5M BONER and market-makes through the PoolManager; (2) burn + re-LP — $AU's receiver burns the meme side of every claim and re-deposits the stock side as fresh v4 liquidity; (3) COMMUNITY VAULT — a factory-deployed vault accrues the stock plus the token from fees. v1 (LongCommunityFactory: TimelockController + splitter + keepers) built $AI's famous NVDA vault; the live v2 is the LongFeeVaultFactory (0xbA85d8FA…, deployVault) — 22 vaults deployed Aug 5–Sep 2, roughly one every 1–2 days.
Team customization: High — three observed modes on the same rails. The fingerprint must be traced per token (one claim transaction, or the vault's creator, tells the whole story).
How we verify: Read one claim: burns to 0x0 + POSM mints = AU pattern; PoolManager swaps = BONER pattern; a vault created by LongCommunityFactory or LongFeeVaultFactory = the vault pattern, with automated inflows. Both factories are on our daily watch.
From our book: $AI/NVDA (v1 vault — 21%+ of chain NVDA), $MOO/MU (v2 vault — 20%+ of chain MU), $AAPLCAT, $INCEL, $STARMAN, $CHIPS, $JACKET (v2 vaults), $BONER/HIMS (recycle), $AU/TSM (burn + re-LP). NEW: their LongXVaultFactory issues synthetic LEVERAGED stock tokens (NVDAx3L, NVDAx5L — BeaconProxy vaults, unverified impl) that memes can pair against — first launch $DEMOTHREE/NVDAx3L. Leverage decay + opaque backing: a different risk animal from 1:1 stock tokens; factory on our daily watch.

Lunch

automated dividendsRobinhood

Fees paid in: Swap tax via a v4 hook; dividends paid in the PAIRED STOCK (or a basket).
Where fees go: LunchV4PairLauncher (launchPairWithMeta) deploys the token, a LunchTaxHookPair that taxes swaps, and a dividend tracker (Quote = paid in the paired stock, Basket = multi-asset) linked at launch — distributions run automatically inside swaps. LP is locked in a LunchV4PairLpLocker, plus a referral splitter. MarsCoin-style stock dividends, but productized at the platform level: no team hand needed after launch.
Team customization: Low — the mechanism is the platform. The per-launch choice is Quote vs Basket tracker.
How we verify: Verified launcher source (impl 0x12848047…). Per token: find the tracker deployed in the launch tx and watch stock fan-outs to holder wallets.
From our book: $LIGMA/FIG (launch-day: ~46% of chain FIG in pool, tracker flows not yet observed).

Stratton Market

penny stocksRobinhood

Fees paid in: 1% curve/pool trade fee, denominated in the TICKERx (destination not yet observed).
Where fees go: A different animal: Stratton tokenizes exchange-listed MICRO-CAPS itself — a regulated SPV buys the shares, a custodian attests them, and only then does the mint controller issue the 1:1 TICKERx (TOONx, DSSx live; MM-only mint/redeem, ETF-AP style). Every ticker then becomes a launchpad quote asset: memes launch on a bonding curve priced in the stock (80% curve / 20% pool), and graduation locks the v4 liquidity FOREVER. The peg market-maker's arb profits fund the next batch of real shares — a self-funding flywheel.
Team customization: The squeeze thesis, weaponized: meme demand on a micro-cap float is far more reflexive than on NVDA. Contracts unverified; 'no US persons'. 0 launches as of Sep 2 — pre-wave.
How we verify: Launchpad 0xBa394F79…, graduation migrator 0x0c2AFC11…, liquidity locker 0x13F2c234…. TOONx/DSSx are registered as stocks in our scanner, so their lanes sweep automatically; the alert fingerprint tags Stratton launches on sight.
From our book: None yet — first launch will be the first datapoint on where the 1% fee goes.

Circus

creator claimsRobinhood

Fees paid in: The pairing stock, paid to the creator's wallet.
Where fees go: CircusQuoteTokenV3 tokens from an ERC1967Proxy factory (0xb7fA26c6…). Trading fees arrive in the STOCK to the creator EOA on a rolling basis, with a platform cut back to the factory. What happens next is pure creator policy — $CRUDECAT (the first launch we traced) re-LPs most of it into its own pool and airdrops ~0.4-USO drops to a hundred holder wallets: the first verified stock-to-holders distribution in the book.
Team customization: High — same creator-discretion shape as Pons and the RWA pad; the posture must be read from claim flows per token.
How we verify: Watch the creator EOA: stock inflows from the fee pipe, then where they go (pool = re-LP, many small sends = holder drops, router = sold).
From our book: $CRUDECAT/USO (re-LP + holder drops — 9% of chain USO).

pair.fund

not attributableRobinhood

Fees paid in: Both pool tokens, but pooled.
Where fees go: All launches' fees and locked positions flow into ONE shared PairV4Locker (0xeFcF476E… — 1,342 different tokens inside, including stock accumulated across every launch). Per-token attribution is impossible without the locker's internal accounting.
Team customization: Unknown; the visible surface is the shared locker. A pair.fund token may never be able to prove an $AI-style 'we own X% of the underlying' claim, whatever the team intends.
How we verify: Accrual tracked pool-only for these tokens; treat any vault claim from a pair.fund team with extra scrutiny.
From our book: $CINEMA/AMC (pool-only on our accrual board), $PAIR itself (the launchpad token, /SPY).

'StockVault' (operator unidentified)

unattributedRobinhood

Fees paid in: Multi-stock basket (NVDA, AMZN, AAPL, GOOGL, TSLA, MSFT observed).
Where fees go: A named StockVault contract drip-fed stock across many lanes by a single feeder, holding platform tokens (SEEDHOOD, FIVEPAD, MAXIM) alongside. Shared-vault shape; operator unproven — holdings suggested 'Seedhood' but nothing on-chain names it.
Team customization: Unknown.
How we verify: Pinned nowhere until an operator publishes; a lesson entry as much as a platform entry — holdings profile alone is not attribution.
From our book: —

stonkfun

flywheel burnsSolana

Fees paid in: Fees fund a platform-wide flywheel, not per-token accrual.
Where fees go: A share of every v3 pool's trading fees flows to the flywheel, which buys back and BURNS the platform's top-10 tokens by market cap — weighted, every few minutes. Drop out of the top-10 and the flow stops until you climb back in.
Team customization: None per token — the competition IS the design: accrual is price-side (burn pressure) and conditional on ranking. 'Launch coins paired with anything': xStocks, PreStocks, currencies, commodities.
How we verify: Flywheel page publishes buyback/burn history; burns are open-market swaps then permanent burns, verifiable per transaction on Solana.
From our book: $STONK itself — the platform token, $28M cap with a ~$715k STONK/SPYx pool; on our accrual board as the SPYX-lane entry. UPDATE Sep 9: stonkfun now issues its OWN wrapped stocks as quote assets (NKE mint NKEda5…, live mint+freeze authority — not Backed xStocks); flywheel confirmed top-10 weighted, ~$3.5M cutoff, $183k burned lifetime. Sub-cutoff tokens get nothing — their fees subsidize the leaders ($RUNNER/NKE traced).

Solana / Base / BNB scenes

not yet fingerprintedSolana · Base · BNB · Ethereum

Fees paid in: Varies (pump.fun-style graduation on Solana; Flap-style tax tokens on BNB — MarsCoin clones FlapTaxTokenV3 and runs an SPCXB dividend distributor paying holders of 10k+).
Where fees go: MarsCoin is the one mapped case outside Robinhood: swap taxes fund an SPCXB rewards distributor — genuine holder-claimable stock dividends, the sharpest DNA trait in the anatomy panel. The rest of these scenes get fingerprinted as their tokens earn accrual board slots.
Team customization: —
How we verify: Same method everywhere: one claim transaction, transfer flows, transaction initiators.
From our book: $MarsCoin/SPCXB (holder dividends).

P2 Ventures · Stock accrual · Master board · Anatomy of a Winner