Every coin here is backed by a vault of real stocks.
Launch a coin and pick its stocks. Fees from every trade buy those stocks, and the stocks stay in the coin's vault. Any holder can burn their coins at any moment and walk out with their exact share of NVDA, TSLA, SPY or whatever the vault holds. The chart can do what it wants. The vault only fills.
The redeem desk
Pick a coin, say how much of it you hold, and the desk shows exactly which stocks leave the vault with you. It also prices the other exit, selling into the pool, so you always know which door pays more.
The 1% exit fee never leaves. It stays inside the vault, so every redemption makes the coins that remain worth slightly more stock than before.
How a coin gets a floor
Other stock-paying launchpads hand the shares out and the coin is left with nothing under it. Here the shares stay put, so the coin always has something to be exchanged for.
Pick the stocks
One transaction launches the coin through Pons with a locked pool. The creator signs a list of up to five tokenized stocks, and that list is frozen into the vault forever. Nobody can swap NVDA for something worse later.
Fees buy shares
Every buy and sell pays a 2% fee. The vault turns its part into the chosen stocks, split evenly, and only through pools that pass a live depth check, so a thin market cannot eat the purchase.
NAV goes up only
Vault value divided by coins in circulation is the coin's NAV. Trading adds stock, burning removes coins, and no function sends shares anywhere except to a redeemer. The number has one direction, plus whatever the stocks themselves do.
Burn and redeem
Send coins to the vault and they are burned on the spot. Your pro-rata share of every stock lands in your wallet in the same transaction, minus a 1% exit fee that stays behind for everyone else.
Why the price cannot sit under NAV
If a coin trades below what its vault is worth, anyone can buy it cheap, redeem it, and keep the difference in stocks. That trade keeps happening until the gap closes. Nobody has to defend the floor. Greed does it for free, in every block.
What a redemption does to everyone else
You take your exact share, so the stock behind each remaining coin is unchanged. Then the 1% exit fee is added on top, and the burned coins are gone for good. Holders who stay end up with slightly more stock per coin and a smaller supply.
What happens when a coin dies
Volume goes to zero, the chart flatlines, the creator disappears. The vault does not care. The shares are still there, still priced by the real stock market, and still redeemable by whoever holds the coins. A dead coin here is a quiet little stock fund.
What the creator gets
Creators choose at launch: keep the classic dev fee, or route it to the vault and launch a backed coin. Backed coins show a vault badge, a live NAV and a premium on every page, which is a stronger pitch than any promise a dev can type.
Price versus NAV
Set the volume, let it trade, then crash it. The white line is the market price. The yellow line is the vault under it, and it is the only line on this page that never goes down because of a seller.
Every dot is an arbitrage redemption: someone bought under NAV, burned the coins and left with stock.
Vaults
Every backed coin, ranked by what is physically sitting under it. Click a row to load that coin into the redeem desk.
$REDEEM
The protocol token takes 20% of every fee on every backed coin as a permanent market buy, then burns it. And yes, $REDEEM is a backed coin too: its own vault holds SPY and QQQ, and it redeems like any other.
Counter runs on desk data until launch. Once live it reads straight from the burn address on Robinhood Chain.
Permanent bid
Every trade on every backed coin sends a slice to the market to buy $REDEEM. More vaults filling means more buying, with no schedule and no vote.
No treasury
The protocol holds nothing. Stocks sit in per-coin vaults that only pay redeemers, and the 20% is burned the moment it is bought.
No emissions
Nothing is farmed or minted to reward anyone. Supply only moves one way, down, through burns and through redemptions.
Same rules for us
$REDEEM has a vault and a NAV like every coin on the pad. If it ever trades under its own index funds, you know what to do.
Rollout
Vaults open in the order that keeps redemptions safe: first the token, then the contracts that hold other people's stocks.
$REDEEM launch
Token goes live on Pons with its own SPY and QQQ vault filling from the first trade.
Backed launches
Anyone can launch a coin with a frozen stock list and a vault badge on its page.
Redeem desk live
One-transaction burn and redeem, with the pool exit quoted next to it on every coin.
Arb bots welcome
Public NAV feed and a redeem router, so discounts get closed by machines within a block.
The chart can go to zero. The vault cannot follow it.
Coins on every other pad are backed by the next buyer. Coins here are backed by shares that were already bought, and that are waiting for whoever shows up with the coins.