How Quoted works

What it is

A coin launched through Quoted is a normal Pons coin with one difference: its curve is denominated in NVDA or SPY. You buy it with the stock, you sell it for the stock, the curve's reserve is the stock, and the creator fee Pons charges on every trade is paid in the stock. The coin's fee recipient is a desk contract that splits whatever arrives 80% to the creator and 20% to the treasury.

Pons and stock quotes

Pons' launchToken(params, configId, pairToken) accepts a pair token. With pairToken = 0x0 the curve runs in ETH; with a listed stock it runs in that stock. Verified on a fork of mainnet: launching paired to NVDA succeeds, the curve reports pairToken = NVDA, buying with ETH value reverts, buying with an approved NVDA balance works, and creatorTaxBalance accrues in NVDA.

Launching

The launcher clones a desk, then calls Pons with the desk as creatorFeeRecipient and the creator's chosen tax. The only ETH involved is the Pons launch fee, and it must be sent exactly; the launcher keeps nothing.

Pons records the launcher as the deployer and the desk as the fee recipient. The desk is what Pons treats as the curve's deployer for sweepFees, so the sweep can be called through the desk by anyone.

The desk

One per coin, born with the creator, the stock and the treasury written in. It does three things and nothing else:

• sweep(curve) asks Pons to move the accrued creator tax into the Pons escrow
• collect() claims the escrow (claimToken(stock), and claim() for any ETH) and splits everything on the desk 80 / 20
• run(curve) does both

There is no withdraw, no owner, no way to change the split or the recipients. The treasury address an existing desk pays is the one it was created with, even if the launcher's treasury is rotated later.

The treasury

The treasury receives the fifth. It can sell a stock for ETH through a Uniswap V3 pool recorded once per stock, at most a fifth of what it holds per call, with a caller-set minimum. It can spend up to 0.5 ETH per call on $QUOTED, on the Pons curve before graduation or in the Uniswap v4 pool after, and everything it buys goes to 0x…dEaD inside the same transaction. It cannot send anything anywhere else.

Numbers

On a stock-quoted curve, Pons charges the creator tax and a 1% curve fee on every trade, 70% of the curve fee going to the creator fee recipient. The quote sheet on the front page prices one trade with the live Chainlink NVDA/USD and ETH/USD feeds and shows this split.

Contracts

QuotedLauncher   fixed stock list, launches coins, clones desks, 48h treasury rotation
QuotedDesk       one per coin, fee recipient, sweeps, collects, splits 80 / 20
QuotedTreasury   sells stock for ETH through Uniswap V3, buys $QUOTED for the dead address

Tested against a fork of Robinhood Chain mainnet: a launch quoted in NVDA, trades in NVDA borrowed from the WETH/NVDA pool, the sweep into the Pons escrow, the collect and split, a treasury sale through the real V3 pool, a burn on a fresh curve and a burn of a graduated token in its v4 pool.

Guardian

The launcher's guardian is the wallet that deployed it. It can propose a new treasury, which takes effect for coins launched after 48 hours, and hand the guardian role to another wallet in two steps. It cannot add or remove stocks, pause launches, or touch any desk.

$QUOTED

$QUOTED is an ordinary Pons coin quoted in ETH. The treasury buys it with the ETH it gets from selling its stock and sends it to the dead address. Until the token is set on the treasury, the treasury simply holds what it has.

FAQ

Do I need ETH to buy a Quoted coin?

Only for gas. The curve takes the stock.

Where do I get NVDA on Robinhood Chain?

It trades against WETH in a Uniswap V3 pool on the chain. The treasury uses the same pool in the other direction.

Can the creator change the split?

No. The desk has no setter.

What happens when a coin graduates?

Trading moves to the Uniswap v4 pool and the curve stops. Fees already in the escrow stay collectable through the desk.