How the yard works.

How it works

1. Launch. A creator launches a token through DripLauncher.launch() in one transaction. It deploys a vault for the token, launches the token on Pons v2 paired with ETH, and names the vault as the token's creator fee recipient. Payout stock, split and creator tax are fixed at that moment.
2. Trade. The token trades on Pons exactly like any other launch: bonding curve first, then a Uniswap v4 pool after graduation. Every trade pays the Pons 1% base fee plus the creator tax (0–5%).
3. Harvest. The vault pulls its share of those fees from Pons (harvest(), anyone can call it). The vault receives 70% of the base fee (0.7% of volume) plus the full creator tax, all in ETH.
4. Split. Every wei that arrives is split on the spot: 10% to the $DRIP treasury (sent on to $DRIP holders), then the rest between holders and creator by the split chosen at launch (default 70 / 30). The creator's part stays in ETH and the creator pulls it with claimCreator().
5. Swap. Every 6 hours the keeper swaps the holders' ETH into the payout stock (for example NVDA), within a per-round cap and a minimum-output limit.
6. Drip. The keeper computes each holder's share (balance × time held during the round), publishes the list as a Merkle tree and posts its root on-chain. After a 1-hour safety delay, holders claim on My drips, all tokens at once.

Fee math

Vault income = volume × (0.7% + creator tax). Pons keeps 0.3% of volume (30% of its 1% base fee). The vault sends 10% of its income to the $DRIP treasury and splits the rest.

Worked example: $100K volume, 2% creator tax, split 70 / 30

With 0% creator tax the vault still receives 0.7% of volume. The holders' part reaches them as stock bought at the market price of the moment, minus swap costs, so its value moves with that stock.

Payout rounds and Merkle claims

• Rounds are 6 hours, aligned to 00:00, 06:00, 12:00 and 18:00 UTC. Your weight in a round is your token balance multiplied by the time you held it during the round. The vault, the launcher, the Pons curve and pool, and burn addresses are excluded.
• The tree is public. Every round's full list (address, amount, proof) is published at /data/rounds/<vault>/<epoch>.json on this site, so anyone can recompute it and check the root posted on-chain. Leaves follow the OpenZeppelin StandardMerkleTree format ["address", "uint256"].
• 1-hour delay. A posted root becomes claimable after 1 hour. During that hour the guardian can veto a wrong root; a vetoed round can be re-posted.
• 30-day window. Each round stays claimable for 30 days. After that anyone can roll it over: the unclaimed rest goes back to the vault's pool and is paid out in later rounds.
• Claim all. My drips claims every open round of a token in one transaction (claimMany). Anyone may submit a claim for any wallet; the stock always goes to the wallet in the tree.
• Restricted wallets. If a stock token refuses a transfer to some wallet, that claim is skipped and stays reserved until the round rolls over. It never blocks anyone else's claim.

$DRIP and the 10%

$DRIP is paired with ETH on Pons. The 10% platform cut of every Dripyard vault is sent on-chain to the $DRIP treasury (0x463d…c52d), the one-time platform recipient set in the launcher. It can never be changed.

From the treasury, the team sends the cut to $DRIP holders by hand. This step is not automated by a contract. Every payout is posted on X and Telegram with its transaction link, so anyone can check that what arrived in the treasury went out.

Holding $DRIP means receiving a slice of the whole launchpad's fee flow, in stock, as long as there is trading. If there is no volume, there is nothing to share. $DRIP launches .

Launching a token

• Name, ticker, description, image link and socials are stored on-chain by Pons, the same as a normal Pons launch. Use a public https image link.
• Pick the payout stock (only stocks with pools deep enough for the 6-hour swaps are offered), the holders / creator split and the creator tax (0–5%, default 2%).
• Optional dev buy in the same transaction, delivered to your wallet, and up to 31 wallets exempt from the Pons launch-window snipe tax (yours is added automatically).
• You pay the Pons launch fee (0.0005 ETH today) plus your dev buy. Anything unspent is refunded in the same transaction. The vault address is shown before you sign.
• On Pons, every Dripyard token shows the launcher contract as its deployer. The real creator is recorded in the launcher registry and in the vault.

Trust assumptions

The contracts are unaudited. Here is who can do what, in plain words.

Pons (outside our control)

• The Pons owner can redirect any launch's fee recipient after a public 3-day timelock. If that happened to a Dripyard token, its future fees would bypass the vault. Funds already in the vault stay where they are. We watch for these proposals.
• The Pons owner can push stuck fees to the recipient, change the fee policy for new launches, and rotate the operator that sweeps graduated pools.
• Vaults point at fixed Pons contract addresses. If Pons migrates, vaults keep pointing at the old ones.

The platform owner (guardian)

• Manages the payout-stock allowlist, the swap-adapter registry and pausing. These affect new launches only, except that revoking an adapter pauses swaps through it (the ETH waits in the vault).
• Can veto a posted round during its 1-hour delay.
• Can replace a vault's swap adapter (only with a registered one) or keeper through a 48-hour timelock that anyone can watch and that can be cancelled.
• Cannot withdraw funds, change a token's creator, payout stock, split or platform recipient, or touch the creator's ETH or the platform cut.
• Worst case if the owner key were stolen: after 48 hours a malicious adapter plus the keeper could swap the holders' pending ETH badly (capped per 6 hours), and an unvetoed bad root could hand undistributed stock to chosen wallets. Creator ETH and the platform cut are never reachable.

The keeper (bot)

• Swaps holders' ETH into the stock up to a per-round cap with a minimum-output limit it sets itself (there is no on-chain price oracle), so a careless or compromised keeper could swap at a bad price, at most one round's cap per 6 hours.
• Posts round roots: bounded by the stock the vault actually holds, delayed 1 hour, vetoable. Who gets what is computed off-chain, which is why every tree is published.
• If the keeper key is lost, swaps and rounds pause until the guardian rotates it (48 hours). No funds are lost.

The payout stock

• Tokenized stocks are third-party tokens. A stock that refuses a transfer to some wallet only affects that wallet's claim. Rebasing or fee-on-transfer tokens are not supported, and each stock is checked before it is allowed.

Risks

• Payouts depend entirely on trading volume and can be zero. Nothing here is a promise of any payment.
• The stock you receive can fall in value, and can trade at a different price than the stock on its home market, especially when that market is closed.
• Swaps go through public pools; thin pools mean worse prices. That is why only stocks with enough depth are offered and each round's swap is capped.
• Smart-contract risk: the Dripyard contracts are unaudited, and they rely on Pons v2 contracts we do not control.
• Launch tokens are speculative and can go to zero. A payout in stock does not change that.
• Tokenized stocks may not be available or transferable for every wallet or region. Check what applies to you.

Not financial advice. Unaudited contracts. Payouts depend entirely on trading volume and can be zero.

FAQ

Contracts

Robinhood Chain (chain id 4663). Only trust addresses listed here and pinned on our X and Telegram.