The doc

The whole thing in six lines

1. You launch a coin on Pons. Every trade of it pays a small fee to the coin's creator.
2. With Flywheel, the creator is a contract that nobody controls, not even us.
3. When the contract has collected 0.01 ETH plus the bounty, anyone can trigger a buyback.
4. Before graduation it buys the coin and holds it. After graduation it buys, then either adds the coin to liquidity forever or burns everything it's holding, depending on whether the price went up or down since the last buyback.
5. Whoever triggers the buyback gets 2% of it as a thank-you.
6. Nothing else ever leaves the contract. Ever.

Words we use

Coin

A token launched on Pons, the launchpad on Robinhood Chain. Anyone can trade it.

Creator fee

Every trade of a coin pays a small fee to its creator: about 0.7% of each trade, plus a 1% tax the coin launches with.

The contract

A small contract that becomes the coin's creator, so the fees go to it instead of to a person. It has no owner and no off switch.

Buyback

One fixed buy of the coin, 0.01 ETH. The contract only ever buys in this fixed size. More fees mean more buybacks, never bigger ones.

Burn

Destroying tokens for good, so the coin's supply shrinks.

Liquidity

ETH and coins locked into the coin's trading pool together, forever. The contract can never remove it once it's in.

Bounty

The reward for triggering a buyback: 2% of it, paid to whoever presses the button once the fees are there.

Graduation

A new coin trades on a bonding curve, a simple built-in market. Once enough ETH has traded, Pons moves it to a Uniswap pool.

The one fixed setting

Every coin launched through Flywheel uses the same numbers. Nothing is chosen per coin.

Questions people ask

Who can take the money out?

Nobody. There is no withdraw function, no owner, and no admin. The only ETH that ever leaves is what buys the coin back and what pays the bounty.

Can the creator change their mind later?

No. Once the contract is a coin's creator, Pons has no function that lets it hand the role to anyone else, and the contract has no function to try.

What does the creator get?

Exactly one thing: the tokens from their own first buy in the launch transaction, sent to their own wallet. After that they are a holder like everyone else.

What happens before the coin graduates?

Every buyback buys the coin on the bonding curve and holds it. Nothing is ever burned before graduation.

What happens after it graduates?

Every buyback compares the coin's price with the price right after the previous buyback. Higher (more buying than selling since then) puts the ETH and every coin the contract holds into the pool as liquidity, forever. Lower or flat burns everything it's holding instead.

Who decides when a buyback happens?

Anyone can trigger one once the fees collected cover 0.01 ETH plus the bounty: press the button on the coin's page, or call the contract directly. A keeper we run presses it within about twenty seconds of a coin being ready, and keeps the 2% bounty, which more than pays its gas. If the keeper is ever down, the fees simply wait until someone else presses it.

What could still go wrong?

Pons' own owner can re-point any coin's creator after a public 3-day timelock; that is their power, visible in advance, and no contract can stop it. Pons also gates some fee collections to its own operator, which delays fees rather than losing them.

How do I check any of this?

Every number on a coin's page is read from the contract and the coin, and every buyback is recorded on chain. Open the contract on Blockscout and compare.