How Fletch works

A fletcher makes arrows. Fletch makes launchpads. Fletch is a builder for memecoin launchpads on Robinhood Chain. A pad is a branded website where anyone can launch a token and trade it on a bonding curve. All of that happens on the Pons V2 protocol, the open launch protocol on Robinhood Chain; Fletch only adds the website, the branding and the fee routing on top.

Overview

Robinhood Chain (chain id 4663) is an Ethereum layer 2 where gas is paid in ETH. Pons V2 is a set of contracts on it that anyone can call to launch a token: the factory mints 1,000,000,000 tokens straight onto a bonding curve, people buy and sell against the curve, and when enough ETH has been collected the curve “graduates” — the liquidity moves to a locked DEX pool and trading continues there. Every launchpad on Robinhood Chain uses this same protocol.

That means a launchpad is mostly a front end plus two decisions: how it looks, and which wallet receives the creator fees. Fletch lets you make those decisions in a form and gives you a live site at your-name.fletchrh.xyz.

For pad builders

Connect a wallet, sign a free message to prove you own it, and open Create a pad. You choose a name and address, a theme and accent colour, an optional logo and socials, and the fee policy. The wallet that creates a pad owns it: only it can edit or delete the pad later, from My pads.

The fee policy has three modes. Launchers keep their fees makes each token’s launcher its fee recipient — you run a venue and take nothing. My wallet collects writes your wallet in as the fee recipient of every token launched on the pad, so all creator fees flow to you. A specific wallet does the same for any address you name, such as a multisig or a treasury. You also set the default creator tax and can lock it so launchers cannot change it.

A pad is a website, not a contract. Creating one deploys nothing and costs nothing. Deleting one removes the site and its listings; the tokens keep living on chain.

For token launchers

On any pad, open Launch a token, connect your wallet on Robinhood Chain and sign in. Fill in the name, ticker, description, image and socials, choose the creator tax the pad allows, and optionally add an initial buy that settles in the same transaction, before anyone else can trade. Then confirm the transaction in your wallet.

The transaction goes from your wallet to the Pons factory (or the Pons launch-and-buy router when you add an initial buy). It carries the protocol launch fee of 0.0005 ETH plus any initial buy. The moment it confirms, your token exists and is tradable. Fletch then reads the receipt and lists the token on the pad. If listing fails for any reason, the token is still yours and you can retry from the same screen.

Only tokens that match the pad’s fee policy can be listed on it: the fee recipient and, if locked, the creator tax are verified on chain when a token is added.

For traders

Buying sends ETH to the curve and receives tokens; selling does the reverse. Quotes are computed with the same maths the contract uses, and your slippage setting turns into the minimum you will accept on chain, so a worse fill reverts instead of executing. For the first 3 seconds after a launch, buys by anyone other than the launcher pay a snipe tax that starts near 99% and decays fast; the trade box shows it live, so wait it out.

After graduation the curve stops and the token trades on a DEX pool by its contract address, which is shown on every token page next to a link to Blockscout.

Pairing to stocks

A token does not have to be quoted in ETH. When launching, the Paired to picker offers everything the Pons factory approves as a pair token: the tokenized stocks and ETFs on Robinhood Chain (NVDA, TSLA, AAPL, SPY, QQQ, GLD and sixty-odd more), the USDG stablecoin, cbBTC and TAO. Pick one and the whole life of that token runs in it: buyers pay in it, the price and market cap are quoted in it (with a dollar conversion next to them), the curve graduates at that pair’s own threshold rather than 4.2 ETH, and creator fees accrue and are claimed in it.

Practically: to buy a NVDA-paired coin you need NVDA tokens in your wallet on Robinhood Chain plus a little ETH for gas. The first trade asks your wallet to approve the curve to spend your NVDA (a launch with an initial buy approves the Pons router instead), then the buy itself; sells pay NVDA back to you. Each pair has its own starting price and graduation threshold set by the protocol, so the launch form shows them the moment you pick one. The pairing is permanent.

Fees

Pons charges a launch fee of 0.0005 ETH per token, paid by the launcher. Every curve trade pays a 1% protocol curve fee and a creator tax of up to 10%. Of the 1% curve fee, 30% goes to the Pons protocol and 70% to the token’s fee recipient; the creator tax goes entirely to the fee recipient. Fletch takes no fee of any kind.

Fees accrue inside the curve contract. The token’s launcher can sweep them at any time (graduation sweeps automatically); sweeping credits the fee recipient inside the Pons fee escrow, and the recipient claims from the escrow to their wallet whenever they like — one balance per asset, so fees from a NVDA-paired token are claimed as NVDA. Every pad has a Fees page that shows what is on the curves, what is claimable, and buttons for both steps.

The bonding curve

The curve is a constant-product market between the token supply and a quote reserve that starts with a phantom 1.68 ETH. That phantom amount sets the starting price; it is never withdrawable. As buyers add ETH the price rises along the curve. Graduation happens when 4.2 ETH of real quote is in the curve, at which point roughly 2/7 of the supply remains and moves, together with the ETH, into the DEX pool. Fees are taken from the input before the swap, so they never distort the price path. A token paired to a stock or USDG uses the same curve with that pair’s own phantom amount and graduation threshold.

Trust & custody

Fletch has no smart contracts and holds no keys. Launches, trades, sweeps and claims are transactions signed in your wallet and sent to the Pons contracts, which are the same contracts every other Robinhood Chain launchpad uses. Fletch stores the pad’s branding, the list of tokens launched through it and uploaded images. If Fletch disappeared, every token, curve and fee balance would keep working.

Signing in is a Sign-In with Ethereum message: it proves you control a wallet and costs nothing. It never asks for a transaction, a seed phrase or a private key. Nothing on Fletch ever will.

Contracts

Economic parameters — launch fee, maximum creator tax, curve configuration and the economics digest the factory requires — are read from the factory live on every page load, never hard-coded, so a protocol parameter change never breaks a launch.

Run it yourself

Fletch is a Next.js app that runs on any Node host with a Postgres database. The repository’s README walks through a free deployment on Vercel and Neon in about ten minutes, and includes a mock mode that runs a copy of the protocol in memory so you can try the whole product without a wallet or ETH. Point it at your own domain and your pads live there.