How a market works

A market on Mandate is three things: a token, its Uniswap v4 pool on Robinhood Chain, and its basket of Stock Tokens, the mandate its fees buy.

Launched in one transaction

Anyone can launch a token from the launch screen. One transaction creates the token, its pool, its treasury and its place in the distributor. The whole supply, 1,000,000,000 tokens, goes straight into the pool: nothing is kept aside.

• No allocation for the creator, no presale. The creator may make the first buy, in the launch transaction, through the same pool and with the same 3% fee as anyone.
• The liquidity stays in the pool. It is held by the protocol’s liquidity lock, not by the creator.

The launch curve, then graduation

The supply sits in the pool in two bands of liquidity:

When the launch curve is sold out, the token graduates: it keeps trading in the same pool, over the whole price range. A market’s page shows how far along the curve it is, the ETH raised and the point where it graduates.

What a market’s page shows

• The price, the market cap, the 24 h volume, the holders, and the pot of the hour: what the next close, on the hour, will drop to the holders.
• The trade panel, with the fee lines in ETH before you sign.
• Trades, holders (with each one’s share of this hour’s pot), the agent log, past drops and the thread.
• Its certificate: two rosettes drawn from the token’s address, unique to that token, and its number (Nº 0042).