How Curvage works

Curvage is a launchpad for coins on Robinhood Chain. Anyone can create a coin in one transaction. Each coin trades against a shared on-chain bonding curve: you buy with ETH and new tokens are created, you sell and they are destroyed, so the price is set by a formula rather than an order book.

Three things set Curvage apart:

• Creator fees. Every coin has a creator tax (1% to 10%, chosen at launch) charged on each trade.
• Holder fee sharing. A creator can route that tax to the coin's holders instead, streamed to them over 10 min.
• Pre-graduation leverage. Until a coin graduates you can go long or short with up to 5x, peer to peer, priced off the curve's time-weighted average price.

Curvage is non-custodial: you connect your own wallet and sign every transaction. The website is only an interface to public smart contracts; it never holds your funds or keys.

1. Connect

Click Connect in the top right and choose a browser wallet (for example MetaMask or Rabby). If your wallet is on another network, Curvage asks it to switch to Robinhood Chain. You can also add the network by hand:

Network

Robinhood Chain

Chain ID

4663

RPC

https://rpc.mainnet.chain.robinhood.com

Explorer

robinhoodchain.blockscout.com

Currency

ETH

2. Get ETH on Robinhood Chain

You pay for coins and gas in ETH on Robinhood Chain. Bridge ETH from Ethereum or another supported chain using the official guide: Robinhood Chain bridging docs. Keep a little extra ETH for gas.

3. Accept the terms

On first visit Curvage asks you to confirm you are not in a restricted jurisdiction, you are of age, and you understand the risks. Read the terms & risk disclosure before trading.

Open Create, fill in the details and confirm one transaction. Your wallet becomes the coin's creator.

Create fee

0.001 ETH

Creator tax

1% – 10%

Name

1–32 bytes (plain letters = 1 each)

Ticker

2–10 chars, A–Z / 0–9, starts with a letter

Description

up to 500 characters

Image / website

https:// or ipfs:// link, up to 200 chars

• Tickers are unique. Once a ticker is used, no one else can launch it on this factory.
• Details are permanent. Name, ticker, image, description and links are stored on chain and cannot be edited later.
• Creator tax is fixed. The percentage you choose is locked for the life of the coin. Neither you nor the platform can change it.
• Fee recipient. The wallet that receives the creator tax. It defaults to your wallet. The current recipient can hand it to another address later; fees already earned stay claimable by the old recipient.

Creator fees or holder fee sharing

Pick where the creator tax goes:

• Creator fees: the tax accrues to the fee recipient, who claims it from the coin page.
• Holder fee sharing: the tax is streamed to everyone holding the coin, pro rata (see Holder fee sharing).

Optional dev buy

You can buy some of your own coin in the same transaction: any ETH you send above the create fee is used as a buy at the very first curve price, before anyone else can trade. The dev buy pays the normal trading fees, and the interface protects it with a 2% slippage limit.

Every coin starts with virtual reserves of 1 ETH and 800M tokens and follows the constant-product rule (x · y = k). Buying adds ETH and mints tokens, so the price goes up; selling burns tokens and pays out ETH, so the price goes down. The ETH you pay in (after fees) stays in the curve, which by design holds enough ETH to buy back every token in circulation at the curve price.

Starting price

0.00000000125 ETH / token

Graduation threshold

4 ETH of real ETH in the curve

Price at graduation

≈ 25× the starting price

Tokens in circulation at graduation

≈ 640M

Supply limit

always below 800M tokens

TWAP window

5 min

Graduation

A coin graduates the moment real ETH in its curve reaches 4 ETH. There is no deadline and no vote. At graduation:

• The graduation price is fixed at the curve's time-weighted average price just before the graduating trade, so that trade cannot move it.
• Leverage on that coin closes and every open position settles at the graduation price.
• Spot trading continues on the same curve. Curvage does not move liquidity to an external exchange.

Curve parameters apply to coins created after they are set; each coin keeps the values it launched with.

On a coin page, choose Buy or Sell, enter an amount and confirm in your wallet. You can always sell back to the curve, including after graduation and even when new buys are paused.

Fees

Each trade pays two fees on the ETH side:

• Platform fee: 0.5%. 50% of it goes into that coin's leverage insurance pool; the rest goes to the protocol treasury.
• Creator tax: 1%–10%, set by the coin (shown on its page). It goes to the fee recipient or to holders.

Slippage and deadlines

• Slippage is the most the price may move against you between quoting and execution. Pick 0.5%, 1%, 3% (default 1%). If the price moves further, the transaction fails and nothing is spent except gas.
• Deadline: trades sent from Curvage expire 10 min after you submit them, so a stuck transaction cannot execute much later at a stale price.

On coins with holder fee sharing, the creator tax from every buy and sell goes to the coin contract and is streamed to holders instead of being paid out at once.

• Fees are released gradually over 10 min. Each new deposit restarts the 10 min schedule for everything still queued.
• While fees are being released, every holder earns a share proportional to their balance, for as long as they hold.
• What you have earned stays yours: selling or transferring tokens later does not remove already-earned fees.
• Claim any time from the coin page (Claim holder fees). There is no lock-up.
• Buying and selling in quick succession earns almost nothing, because only a small part of the stream is released while you hold, and you pay fees both ways.
• If nobody holds the coin, queued fees wait for the next holder instead of being lost.

Before a coin graduates you can open a long (profit if the price rises) or a short (profit if it falls) with 1x to 5x leverage. It is peer to peer: there is no house money. Every payout comes from that coin's pool, which holds the margins, its insurance fund and fees.

Max leverage

5x

Open / close fee

0.1% of position size, each way

Maintenance margin

1% of position size

Liquidation reward

0.5% of position size

Funding

up to 0.1% of size per hour

Profit cap

9× your margin

Open-interest cap per side

20% of the coin's curve ETH, max 0.5 ETH

Price-gap guard

opens blocked if spot is > 10% from TWAP

Opening a position

• One position per coin per wallet. To change it, close it and open a new one.
• Leverage opens once a coin is at least 5 min old (the price average needs that long to form) and only while the coin has not graduated.
• You send margin plus the open fee. Example: 0.02 ETH margin at 5x is a 0.1 ETH position; you send 0.0201 ETH.
• Prices: longs enter at the higher and exit at the lower of the spot price and the TWAP; shorts the reverse. This makes it hard to profit from a quick price spike.
• New positions are refused when that side has reached its open-interest cap, or when the spot price is more than 10% away from the TWAP.

Liquidation

A position can be liquidated when its equity (margin + profit or loss − funding) falls below the maintenance margin of 1% of its size, measured at the TWAP. Anyone can trigger a liquidation and earns 0.5% of the position size; whatever is left stays in the coin's pool. You lose your margin.

* 1 / leverage − 1%, for a freshly opened position before funding. Funding you pay brings liquidation closer.

Funding

Funding keeps longs and shorts balanced. The side with more open interest pays the other, at up to 0.1% of position size per hour when only one side is open (scaled down by how balanced the two sides are). It is settled inside each position's equity, not as separate payments. At the maximum rate that is about 2.4% of size per day, which at 5x is about 12% of your margin per day.

Profit cap and pool-limited payouts

• Profit on a position is capped at 9× its margin.
• Payouts can never exceed what the coin's pool holds. If many winners close at once and the pool runs short, a payout can be partial. Nothing guarantees a profitable position is paid in full.

Closing and graduation

• Close any time before graduation (closing pays the 0.1% fee).
• When the coin graduates, all positions freeze at the graduation price and funding stops. Liquidations end. Claim your result from the coin page with no closing fee.
• Closing, liquidations and claims keep working even if new positions are paused.

• Creator fees: on any coin page where you are the fee recipient, click Claim creator fees. One claim pays out your creator fees from all your coins.
• Holder fees: on each holder-sharing coin you hold or held, click Claim holder fees. Each coin is claimed separately.
• Leverage: Close position pays you immediately. After graduation the button becomes Claim settlement.

All claims are paid in ETH to the connected wallet. You pay the gas.

The contracts have an owner (currently 0x5cCd9150622724B49aE77D18CD1dd1A87f4Cec0A). At the moment this is a single wallet, not a multisig. The owner's powers are limited by hard bounds written into the code:

The owner can

• Pause new coin creation, new buys, and new leverage positions.
• Change the platform fee (max 2%), the create fee (max 0.05 ETH) and curve settings for future coins.
• Tune leverage limits within bounds: max leverage up to 20x, leverage fee up to 1%, funding up to 1% per hour, profit cap up to 10× margin, open-interest caps. Changes to maintenance margin, profit cap and funding apply to open positions too.
• Withdraw the protocol's own fee treasury.

The owner cannot

• Move the ETH backing the curves, your margin, or anyone's claimable fees.
• Block selling, closing, liquidations or claims; these are never paused.
• Change a coin's creator tax, details or fee recipient, or mint tokens.

• Coins can go to zero. Launchpad coins are highly speculative and have no intrinsic value. Prices move fast in both directions.
• Leverage can wipe out your margin quickly (about 19% against you at 5x), and winnings are capped and limited by the coin's pool.
• Smart-contract risk. Bugs or unexpected interactions could cause loss of funds. Transactions on Robinhood Chain are irreversible.
• Price manipulation. Curve prices on thin coins can be pushed around; TWAP pricing and the price-gap guard reduce but do not remove this.
• Admin risk. The owner key can pause new activity and change parameters within the bounds above.
• Your wallet. Anyone with your keys controls your funds. Curvage never asks for your seed phrase.
• No guarantees. Nothing here is financial advice or a promise of returns. Check the terms and your local rules.

Curvage on Robinhood Chain (chain 4663). Always check addresses before interacting directly.

Source code for all four is verified (exact match) on Sourcify, and the deployed bytecode matches the public repository.

Source: GitHub