How Netpad works
- 2.5% LP fee on every trade, paid in NET.
- 0.5% of volume goes to the token's agent, 2% to the treasury.
- A harvest stakes 50% of the agent's NET as sNET, sells 45% for USDG to the agent wallet, 5% to the treasury.
Contracts are not deployed on this network yet. Everything below describes the code as tested; it is not audited.
How a launch works
One transaction. The token trades against NET in its own plain Uniswap v4 pool (no hook) from its first block, so any v4 router or aggregator can trade it, and it is registered as an agent in the vault. Supply is 1,000,000,000: 800 M sit on the curve, 200 M are reserved for the pool after migration. Nothing is pre-minted to the team or the creator.
The curve runs from a market cap of about $5,000 at open to $35,000 at the end, placed in NET from NET's USD price in the NET/USDG pool at the moment of the launch; after that the curve moves with NET. Every buy moves the price up the curve, every sell moves it down. You can pay in ETH, USDG or NET: the Router converts ETH to USDG on Uniswap v3, buys NET in the NET/USDG pool (0.9%), then buys the token. A holder of NET enters the token directly.
Migration happens in the same pool when the curve is full: the curve's NET becomes full-range liquidity plus a support position below the migration price. The Router migrates a sold-out curve right after the trade that fills it; if that did not happen (a migration never fails a trade), anyone can call Migrate — it is permissionless.
An optional dev buy in the launch transaction is capped by the factory at what the curve can take (the rest comes back as NET) and protected by a minimum-out, like any trade. The site sizes a buy to just over the rest of the curve for you.
The list ranks agents by unique traders over the last 24 hours. A wallet counts as a trader of a token once it has traded at least 0.01 NET of it in that window (buys and sells added up), so a swarm of dust trades from throwaway wallets cannot buy the top spot. Smaller trades still show in the trade list and the volume. Holders are counted from 1 token up.
Fees
| What | Rate | Where it goes |
|---|---|---|
| Launch-pool trade (buy and sell) | 2.5% LP fee of the pool, taken from what you pay in (NET on a buy, the token on a sell) | The fee builds up in the launch pool's positions. collectFees (anyone can call it) sends 20% of the NET side — 0.5% of volume — to the vault, credited to the token's agent, and the rest (2% of volume) plus the token side to the treasury. The rates are constants in LaunchFactory; there is no setter. 0% to the creator directly. |
| Launch | 0.0005 ETH | Treasury wallet. Hard ceiling 0.01 ETH; changes only through the 48-hour timelock. |
| NET ⇄ USDG hop | 0.9% | Liquidity providers of the NET/USDG Uniswap v4 pool (NetNet's pool, not ours). |
| ETH ⇄ USDG leg | 0.01% | Uniswap v3 WETH/USDG pool liquidity providers. |
Every quote shows the split before you sign: the Uniswap leg, the 2.5% fee, what you receive and the minimum at your slippage.
The agent vault
Every launch is an agent. The factory registers the token in the AgentVault at launch with an owner (the creator) and an agent wallet (the one given at launch, or the creator). The agent's share of its pool's fees, 0.5% of volume in NET, is credited to it on every collectFees and waits as pending NET.
Harvest (the owner, the agent wallet or the vault's keeper) turns the pending NET into three legs: 50% is staked in NetNet's staking contract — the vault holds the sNET and books it per agent as gons, so it rebases like any stake — and recorded as the agent's principal; 45% is sold for USDG through the Router and sent to the agent wallet (the agent's spending balance); 5% goes to the treasury. A harvest is not permissionless because it contains a swap: the caller sets the minimum USDG out.
Rewards are the sNET above the principal. The agent wallet or the owner can claim them any time: the vault unstakes them and sends NET to the agent wallet. The principal is locked for the vault's cliff — 10 days from the launch in the design; the agent page shows the exact unlock time read from the vault — and then belongs to the owner, who withdraws it as NET. The owner can change the agent wallet at any time. No role can move another agent's NET or sNET.
What you can check
- The 2.5% rate (FEE_PPM), the agent share (AGENT_SHARE_BPS) and the treasury address are constants in the factory; every launch pool's key shows fee 25000, no hook, NET as the quote.
- Every agent's pending NET, principal, sNET, USDG sent and unlock time are public views of the vault: agents(token), stakedOf(token), rewardsOf(token).
- Every collectFees and harvest is a Robinhood Chain transaction with FeesCollected and Harvested events; the agent page lists them.
- The stake sits in NetNet's staking contract as sNET held by the vault; its index and rebases are NetNet's, verified on Sourcify.
Limits, plainly
- The code is tested, not audited. The damage of a bug is bounded by the NET in the curves and in the vault.
- NET, sNET and the staking contract are NetNet's. NetNet can change its staking parameters, its token has a transfer tax on pairs it marks, and sNET rewards are zero when NetNet pays none: an agent's stake then does not grow. Netpad does not control any of that.
- The curve is placed from NET's spot price in one pool at the moment of the launch. A moved spot distorts that launch's curve within the timelock's bounds (minNav8 / maxNav8); outside them no launch can be priced until the price returns.
- The treasury is the project's wallet; the 2% of volume it receives is not a promise of anything.
- A harvest sells NET for USDG: a large one moves the NET/USDG pool against the agent. The caller's minimum-out is the only protection.
- Tokens launched here are volatile and can go to zero. The vault stands behind the agent's NET, not behind the token's price.
- USDG is issued by Paxos; a freeze of USDG on the pools or the PoolManager would stop ETH and USDG trades and harvests.
Contracts
Contracts are not deployed on this network yet. Code tested, not audited.
Contact / takedown
Token names and logos are user content. A hidden token is masked on this site but keeps trading, so holders can still sell. Every hide is a public commit.
- Not investment advice. Launch tokens are volatile and can go to zero.
- Code tested, not audited.
- NET, sNET and the staking contract belong to NetNet; Netpad only routes through them and makes no promise about their price or yield.