Quick start
Pick a stock, publish its trading rules, and launch a token with its own treasury. The strategy is public before anyone buys and fixed at launch. The creator receives a configured share of taxable trading activity.
Two ways to take part: trade an existing Hedgefun's token, or create your own. Buying the token does not give you treasury shares or a right to redeem its stock.
CRCLGRID is a deployed platform test whose launch setup failed. Read its launch setup disclosure before treating it as an example of an operating strategy. The Create page shows the currently available stocks and launch configuration.
Buying into one
1 · Pick a Hedgefun, and read its five numbers. Every launch publishes the strategy its treasury follows, before anybody buys and frozen afterwards:
| what to look at | |
|---|---|
| Take profit | how far above cost it sells. High targets mean it sells rarely, which means it burns rarely |
| Dip | how far it lets the stock fall before buying more |
| Stop | 0 means every lot sells above its cost. A stop lets it sell below, and burns nothing when it does |
| Lot size | how much it works at a time |
| The stock | NVDA behaves nothing like GME. You are taking a view on that stock as much as on the token |
2 · Check two things the page shows you. What the launcher bought for themselves in the launch transaction —
a big number means most of the supply is already in one wallet — and whether the treasury can trade right now
(health(): a stale feed, a corporate action or a closed market each pause it).
3 · Buy it in its own pool. The token trades against its stock, not against USDG. Holding USDG, the trade router does both hops in one transaction. Your buy is taxed in the token, and that tax is burned.
4 · Then nothing is required of you. When the stock reaches one of those five numbers, the treasury's next move becomes worth money to make: anyone may send it, and whoever does keeps a cut of what that call produced — 0.5% as shipped, in whatever the call earned. The strategy runs because it pays a stranger to run it. There is no keeper, no team, and nothing you have to remember to do.
5 · Selling. A sell is taxed in the stock and funds the treasury, the creator and the protocol. The rate spikes for a while after each buy-back, so selling into a burn costs more than selling into a quiet hour.
Writing one
Open Create. The current interface separates your developer purchase from the strategy's starting funds. They spend money for different purposes:
| Amount you enter | Where it goes | What you receive |
|---|---|---|
| Developer purchase — stock or USDG | Buys your new token in its pool; USDG is converted to stock first | The purchased tokens in your wallet |
| Strategy capital — stock | Goes to the treasury and becomes its first stock lot when booking succeeds | No wallet tokens; the strategy holds the stock |
| Strategy capital — USDG | Goes to the treasury's reserve for qualifying dip buys | No wallet tokens; the strategy holds the reserve |
Strategy capital is separate from the token pool's liquidity. It cannot be withdrawn, including by you, and does not buy tokens for your wallet. Funding the reserve also does not create a stock lot: dip buys need a reference price established by the first booked lot.
1 · Choose the stock and write the rules
Name your Hedgefun and select a listed stock. Choose a preset or open Advanced to edit its five numbers. The rule preview follows the values you enter:
| Rule | What the preview explains |
|---|---|
| First profit target | The stock's gain above each lot's own cost; with two targets, the first takes profit on half |
| Second profit target | The target for the rest, measured from the same cost; 0 means the whole lot uses the first target |
| Dip | A fall from the strategy's reference price; the reference starts at the first lot's cost and updates after a sale or dip buy |
| Dip allocation | The share of the current USDG reserve budgeted per eligible dip, including the caller reward |
| Stop | 0 disables stop-loss sales; a positive value can trigger a loss-making sale below a lot's cost |
The preview's When it rises, When it dips and Where profit goes views explain the selected rule. Principal recovered on a profitable sale becomes USDG reserve. Stock profit, after the take-profit caller's reward, funds buybacks; the buyback caller then receives a share of the tokens bought, and the rest burns. These are two reward deductions in different assets. Create reads the reward rate from the selected factory's configuration; do not assume every launch uses the example rate in a diagram.
For the illustrated journey from a stock lot to reserve and token burn, follow the stock. The illustrations explain the mechanism, not returns or a promise that a call will execute.
2 · Enter your developer purchase
The current Create interface requires an amount above 0, whether you pay in the selected stock or USDG. A blank or zero amount prevents launch; adding strategy capital does not satisfy this requirement. Your purchase returns the new token to your wallet. It is separate from the creation fee, gas and any treasury seed you choose to supply.
The launch transaction's developer purchase is exempt from the opening buy window and is visible on chain. Other traders can inspect how much you acquired. This describes the launch transaction's buy, not later buys.
Paying in USDG adds a conversion before launch. The interface checks the launch before requesting that swap, but the swap and launch are separate transactions: if conversion succeeds and launch fails, the stock remains in your wallet. Follow the displayed recovery instructions before trying again.
3 · Decide the strategy's starting funds
The Strategy capital section lets you supply stock and USDG independently; both seed fields remain optional. Stock gives the treasury an initial position with its own cost and targets. USDG gives it a budget to buy later dips. Neither is your developer purchase, nor a deposit into the token pool.
Review the stock-booking choice. Requiring booking at launch can make the launch fail when booking conditions are not met. Allowing booking later leaves that stock unbooked until a valid booking call succeeds. The page also shows whether the USDG reserve is large enough for the configured dip allocation and minimum lot.
With no reserve, the strategy cannot buy dips until USDG arrives, such as principal recovered from a sale. With USDG alone, it still waits for the first stock lot to establish the reference price. CRCLGRID's initial test illustrates why starting conditions matter; read its failed launch setup disclosure.
4 · Review and launch
Check the stock, strategy, tax, creator share, developer purchase, treasury seed, creation fee and wallet balance. Review each requested approval and transaction before signing. The launch creates the token, treasury and pool; it seeds the token supply as permanent one-sided liquidity before the developer purchase trades against it.
The interface's purchase requirement is not a new contract restriction. The v1 contracts still support a launch without a developer purchase or treasury seed. Their one-sided pool setup does not require matching stock capital from the creator. The current Create page requires a positive purchase, and fees and gas still apply; this is not a free launch.
5 · After launch
The strategy and launch terms are fixed. You can manage the token's page, but cannot withdraw the treasury seed or rewrite its trading rules. Creator income is a share of the configured trading tax when taxable activity occurs; publishing a strategy or holding its token does not guarantee income.
Execution needs valid prices, sufficient funds and liquidity, and someone to submit each eligible call. A strategy can wait without trading, lose value, or fail to recover from a fall. A burn reduces supply but does not guarantee a higher token price.
Short answers to the things people get wrong
Where does the stock in the pool come from? From buyers. A launch is seeded with the token alone — a one-sided position — so at the opening the pool is all token. Every buy puts stock in; every sell takes some out. The contracts allow this setup without a creator buy. The current Create interface requires a positive developer purchase, which then trades against the newly opened pool.
"Liquidity is locked" — locked how? The launch position stays in the pool permanently, for the creator, for us, and for everyone. It is separate from the amount of stock in the pool, which moves with every trade, and separate from your own tokens: you can sell whenever you like.
If nobody trades, what happens? Nothing new arrives. Trading pays the tax that feeds the treasury and drives the burns, so a quiet book is a quiet treasury. Holding alone earns nothing — there is no staking, no yield and no accrual to a balance.
Does the treasury need a constant stream of new buyers? What it already holds keeps working on its own triggers and on where the stock goes. Volume is what makes it grow.
Is there a graduation, like on a curve launchpad? Not in v1. A launch's liquidity is seeded once and stays where it is, and no threshold changes its state. Graduation is a direction for a later version, not a feature with a date.
Before you touch either path
- The treasury's link to holders is the buy-back and burn. There are no shares in it, so no dividend and no redemption.
- It can lose money, and a treasury sitting on a stock that fell waits rather than selling down.
- The contracts are reviewed and an audit is under way, and a launch is immutable once live.
- Not open to everyone. U.S. persons and sanctioned jurisdictions are excluded — who may not use it.
The machine in pictures — where each trade's money goes and what the treasury does in each market — is on how it works; what each person is paid is on who does what. The contracts are on the protocol page; what to call and what to read from chain is in integration.