What it is

Most launchpads price a new coin in the chain's gas token. This one prices it in another coin — a tokenised stock, a wrapped major, a memecoin, anything with a real market. $DOGE-paired-with- $NVDA is a sentence this makes executable.

A launch, step by step

1. A fixed-supply ERC-20 is deployed at a CREATE2 address you chose by mining a salt.
2. A Uniswap v4 concentrated-liquidity pool is opened for (yourCoin, pairAsset) at a price just outside the range you picked.
3. The entire float is deposited as a single-sided position.
4. The position is owned by a vault with no withdrawal path.

All of it in one transaction, for the launch fee plus gas.

Why you bring no capital

A concentrated-liquidity range that sits entirely on one side of the current price needs only one of the two assets. The pool opens one full tick spacing outside your range, which guarantees that: there is no rounding edge where the pool could demand a dust amount of the pair asset.

So a launch deposits your coin and nothing else. Not one unit of AERO, NVDAc or WETH leaves your wallet. The contract enforces it rather than trusting it — if the pool asks for any of the pair asset, the launch reverts with QuoteSideNotEmpty.

Buyers bring the pair asset as they trade in. The market funds itself.

The consequence worth understanding: until somebody buys, there is no depth on the pair-asset side. A freshly launched coin cannot be sold before it has been bought. The first buyer gets the bottom of the range.

Why the liquidity can never be pulled

In Uniswap v4 a position is not an NFT. It is a slot inside the PoolManager keyed by (owner, tickLower, tickUpper, salt), and the owner is whoever called modifyLiquidity. The fee vault seeds the position itself, so the lock is structural rather than promised: no code path in the vault ever passes a negative liquidityDelta, and nothing else can act as that owner.

This is also why the launchpad does not use v4's PositionManager. That contract owns its positions and hands you a transferable, burnable NFT — which is a withdrawal path with extra steps.

Only the swap fees the position earns can ever be taken out.

Why there is no price ceiling

Your range is literally the set of prices your float is offered at. Stop it early and the coin hits a wall: at the top tick the last coin is gone, buys revert, and — with nothing left to slow the price — the quoted market cap runs off to the pool's maximum tick and reads as nonsense on a chart. Holders can still sell into it. Nobody can ever buy again.

So the range runs to the last usable tick by default. Measured both ways on a fork, capping buys about a tenth of a percent of extra depth near the floor, against losing the coin outright if it works. The trade is not close.