The pool and burned liquidity
Every coin trades in its own Uniswap v4 pool from the first block. The pool is the bonding curve, and its liquidity is burned at launch.
The pool is the curve
When a coin launches, the launchpad opens its Uniswap v4 pool (ETH / coin, or cbBTC / coin for a coin paired with cbBTC) and puts the whole supply in it as two positions:
| Position | Holds | Price range |
|---|---|---|
| The curve | 800,000,000 tokens (80%) | From the opening price up to about 16× it |
| The tail | 200,000,000 tokens (20%) | From there to the top of Uniswap's range |
A concentrated position is a constant-product curve with virtual reserves, so the curve position is a pump.fun-style bonding curve: buying moves the price up, selling moves it down, and there is always liquidity to trade against. Every coin uses the same shape:
| Market cap at the start | About 1.19 ETH |
| ETH it takes to buy the whole curve | About 3.8 ETH (≈ ₿0.11, pump.fun's 85 SOL); 0.11 cbBTC for a coin on cbBTC |
| Market cap when the curve is bought | About 19 ETH |
| After that | The same pool keeps trading on the tail. Nothing moves, nothing graduates. |
Burned liquidity
Both positions are minted straight to 0x…dEaD, in the launch transaction itself. Uniswap's position NFTs belong to an address nobody controls, so:
- nobody can remove the liquidity: not the creator, not Etchify, not the launchpad;
- terminals such as GMGN read the pool as 100% burned;
- the pool's hook lets nobody else add liquidity either, so that figure can never be diluted.
The hook has no owner and no settings. It does three things only: lets the launchpad (and nobody else) create Etchify pools, so no pool can open early at a bad price; allows liquidity only at launch; and charges each pool's fixed fee in the pool's currency (ETH or cbBTC).
What a dev buy gets
The dev buy is the pool's first trade, at the opening price:
| Dev buy | Tokens you get | Share of the supply |
|---|---|---|
| 0.01 ETH | about 8.2 million | 0.8% |
| 0.05 ETH | about 40 million | 4.0% |
| 0.1 ETH | about 77 million | 7.7% |
| 0.5 ETH | about 299 million | 29.9% |
Each extra ETH buys fewer tokens as the price climbs. A dev buy can never go past the curve. The create form shows the exact amount as you type.
Why one fixed shape
One public curve means no presale, no team allocation and no special terms. The creator's only head start is the dev buy, made at the same price anyone would pay as the first trader.