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Launching a token

Fill in a name, a picture, a supply, a pair and a fee tier, then sign once: that one transaction creates the token, puts all of it into a new pool, locks it there and can include your own first buy.

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One transactionall of it or none of it

The token
A new ERC-20 at an address fixed by the creator's wallet and a salt. Its whole supply is minted to the pool's hook.
LaunchToken.initialize
Its terms
The hook records the fee tier, the two lines and who the pool's fees pay. A split stream gets its splitter here.
LaunchHook.register
The pool
A dynamic-fee Uniswap v4 pool is created at the opening price, with the launch hook attached.
PoolManager.initialize
The seed
The hook places the whole supply in the pool as one position. It has no function that takes it out.
LaunchHook.seed
First buy
Optional. The creator's own buy at the pool's normal fee, before anyone else can trade.
PoolManager.swap
The record
One event describes the launch in full, for indexers and terminals.
TokenLaunched

Figure 1. Inside a launch. If any step fails the whole transaction reverts and nothing exists.

What you choose

Pair: HYPE, or an asset Montra has listed. Fees are paid in it.
Supply: 1 billion to 1 quadrillion tokens, any whole number. The opening market cap is the same whichever you pick.
Fee tier: 1%, 2%, 3%, 5%, 10% of every trade. How each splits is under Fees.
Where your share goes: Your wallet, another address, a split between two to four, or the token's holders: see Fees.
Anti-snipe fee: Optional, on the pairs that offer it. Buys pay 99% at launch, falling to your fee over the length you choose; sales and your own first buy never pay it. The form today offers 5 seconds, 10 seconds, 30 seconds, 1 minute, 5 minutes, 15 minutes or 30 minutes, and the list may change. More under Fees.
First buy: Optional. In the same transaction, at the pool's normal fee, refused below 99% of its estimate, before anyone else can trade.
Name and picture: Fixed at launch: the name, symbol, picture, description, links and metadata link cannot be changed.

Every step happens or none does, so there is never a token without a pool, and nobody can trade before the creator's first buy. The contracts fix everything else: the opening price, the two milestones and how the fee splits all come from the tier you pick. An anti-snipe fee is a choice of its own, where a pair offers one: see Fees. A launch fee, when one is set, is paid in HYPE and shown before you sign; gas is paid in HYPE.

What a token can pair with

Native HYPE is listed from the start. Montra lists any other asset after a checklist nothing on chain can run: a plain ERC-20 whose transfers move exactly the amount sent (no fee, no rebase, no cap per transfer), six to eighteen decimals, and a liquid market on Elysium to price it and sell it through. A Montra launch token is never listed as one.

Switching a quote off stops new launches in it. A pool's quote never changes.

The token you get

Owner: None
Minting: None; After launch.
Transfer tax: None
Pause, blacklist: None
Name, symbol: Fixed
Decimals: 18
Rebasing: None
Supply: Only falls

Each token is a standard ERC-20 that nobody is in charge of, and sending it between wallets costs only gas. Its supply can only go down: anyone can burn their own tokens, and the pool burns the token side of the fees its locked liquidity earns. A trade's fee is charged by the pool and its hook, not by the token, so a transfer moves exactly the amount sent.

If the creator chose it, the token also pays its holders (Holder rewards); that bookkeeping never makes a transfer fail.