Everything the exchange does, from the commodity coins every market is priced in to the fees that buy back $CME. Written for traders and creators; the contract addresses are at the end.
CME is a commodity market exchange on Robinhood Chain. Every market launched here is paired with a coin that tracks a real commodity instead of a stablecoin, so a token's price is quoted in gold, crude, corn, or a Big Mac, and its holders are paid their share of trading fees in that commodity.
220 commodity coinsEach one is pegged to a live reference price by an on-chain feed and a single-sided Uniswap pool. Buy or sell any of them for USDG at the feed price.
Markets with real liquidityA launch mints one billion tokens into a Uniswap v4 pool at a $5,000 market cap, laid out as a bonding curve up to $35,000 with the reserve above it. Tradeable by any router from block one.
Fees that pay holders40% of every fee goes to a market's holders, 30% buys back $CME (half burned, half to $CME stakers), 30% runs the exchange. Nothing to claim.
A commodity coin is an ERC-20 whose price is held at the commodity's reference price. One GLD is one troy ounce of gold, one ZC is one bushel of corn, one FRIES is one medium order of fries at the US menu price.
Each coin has an entry in the price feed contract and its own Uniswap V3 pool against USDG. The pool holds liquidity on one side only: an ask of protocol-minted coin one tick above the feed price, and a bid holding every dollar that ask has collected one tick below it. A buyer never pays below the oracle and a seller never receives above it. When the reference price moves across a tick line, or one side is used up, the keeper withdraws both ranges, moves the empty pool to the new price, and places them again. The pool address never changes, so the coin is always buyable and sellable at the feed price plus the pool fee.
Exchange-traded commodities (metals, energy, grains, softs, livestock) follow their front-month futures quotes, converted to USD per catalogue unit. Fast food items are statically priced at the current US menu price and only change when the menu does. Drug coins are pegged to fixed US street-price estimates drawn from public reporting (DEA and UNODC) and are a price index only. CS2 skin coins follow the lowest live market listing for the item, refreshed every few minutes from the skin market. Game gold coins (OSRS gold) follow the G2G marketplace: the median of the cheapest real-availability offers, in USD per million gold, refreshed every few minutes. Trading card coins (Pokémon Elite Trainer Boxes and chase singles) follow the TCGplayer market price of the sealed box or near-mint card, refreshed every few minutes. Water follows the Nasdaq Veles California Water Index, the spot price of California water rights in USD per acre-foot, which Nasdaq publishes a few times a week. Car coins are pegged to the US base list price of one new car, fixed by CME and updated when the manufacturer changes it. Currency coins follow the live foreign-exchange rate of each currency against the US dollar, refreshed every minute while markets trade; weaker currencies are denominated in round lots (100 or 1,000 units) so every coin has a workable price. Amazon coins follow the buy box price of a product on amazon.com, read through Keepa; only products that sell in volume every month, with a steady price and no stock gaps, are offered, and the same 0.02 ETH request creates them. Every coin's pool opens with $100k of coin in its ask and the keeper mints a refill as soon as the ask drops below half, so a run of buys never finds the pool empty. The commodities page shows the live reference price, the on-chain price, and how many markets are paired with each coin.
220 coins across 13 categories, every one buyable and sellable for USDG at its reference price, and every one a possible pair for a launch. New coins arrive through Tokenize anything.
Metals · 6Front-month futures, USD per ounce or pound. GLD, SLV, XPT, XPD and 2 more.
Energy · 6Front-month energy futures. CL, BZ, USO, NG and 2 more.
Agriculture · 14Front-month grain and softs futures. LBR, ZW, ZC, ZS and 10 more.
Livestock · 3Front-month livestock futures. LE, GF, HE.
Fast food · 13US menu prices, fixed until the menu changes. BIGMAC, MCNUGS, WHOPPER, CFA and 9 more.
Drugs · 12A price index from public reporting (DEA, UNODC). COKE, HEROIN, METH, FENT and 8 more.
CS2 skins · 12The lowest live listing on the skin market. AKREDLINE, AWPASIIMOV, DLORE, HOWL and 8 more.
Game gold · 1The G2G median offer, USD per million gold. RSGP.
Trading cards · 25The TCGplayer market price of the box or card. ETB151, ETBPRISM, ETBRIVALS, ETBHEROES and 21 more.
Water · 1The Nasdaq Veles California Water Index. H2O.
Cars · 1The manufacturer's US list price. LAMBO.
Currencies · 126The live exchange rate against the US dollar. AED, AFN, ALL, AMD and 122 more.
Anything with a real, liquid price can become a coin. One search on the launch page and the tokenize page covers every live coin, every product on TCGplayer and every product on Amazon; whatever is deep enough to price becomes a coin for 0.02 ETH, live within minutes, and pairs with any launch.
A product is offered when one buyer cannot move its price. Trading cards need real sales volume on TCGplayer over the last thirty days, enough listings, and a price that has not swung too far in recent months. Amazon products need at least 300 units bought in the past month, at least 100 reviews, a price of $2 or more, a ninety-day price range under 2x and no long stock gaps; lots, digital goods and gift cards are excluded. Products that fail are shown with the reason. The check runs again on fresh data the moment a request is paid: a product that no longer qualifies is refunded automatically.
The request deploys the coin, its price-feed entry, a single-sided Uniswap V3 pool against USDG with a $100,000 ask, and routers for both launchpads, all from the keeper wallet in one pass. The keeper then prices the coin like every other: cards from TCGplayer's market price, Amazon products from the buy box through Keepa, refreshed every few minutes. Coins created this way are marked as community coins.
An NFT pool lets a group buy one NFT together with a commodity coin, own it in shares, and cash out against a signed valuation. Every pool is one NFT, one commodity, and its own contract.
A pool opens against a live listing with a short-lived signed quote. Funding shares mint one-for-one in the commodity's units; the target is the listing price plus a 10% cash reserve, and the pool can be funded in ETH, USDG or the commodity itself through the funding router. Once the target is met the pool buys the NFT on OpenSea (Seaport) atomically. Anyone can refund before the purchase, including after the listing expires.
After the purchase, buying more shares or redeeming for cash prices at cash plus the NFT's signed value, derived from the best eligible OpenSea offer net of fees and converted to commodity units. Any shareholder can execute a qualifying bid at or above that value; the sale closes the pool and every share redeems for its part of the proceeds. Cash redemptions never exceed the pool's cash and never burn the last share while the NFT is held. See the NFTs page.
One form, one transaction. Name the token, upload an image, choose what it is paired with, set the fee, and make the first buy. The contract mints the whole supply and opens the curve in the same call.
| Supply | 1,000,000,000 tokens, fixed. 800 million sit in the curve range from the opening to the cap price; 200 million sit in the reserve range above it. All of it is in the pool from creation. |
|---|---|
| Pairing | Any commodity coin, or a basket of up to 5 with weights you choose (each at least 5%). |
| Opening cap | $5,000, fixed in the pair coin at creation so it does not drift with the commodity price afterwards. |
| Cap price | $35,000 market cap: where the curve range ends and the reserve range begins. Trading continues past it on the reserve; nothing migrates. |
| Trading fee | 1% to 3%, chosen by the creator and charged by the pool itself as its LP fee, from the first trade. |
| First buy | At least $1, paid in ETH or USDG and swapped into the pair coin inside the launch transaction. |
| Metadata | The image and metadata are pinned to IPFS and the metadata URI is written on chain at creation. It never changes. |
| Creator share | None. Creators earn like every other holder. Markets launched before 8 September 2026 keep the 30% creator share they were created with. |
Since LaunchpadV6 a market is a plain Uniswap v4 pool with real liquidity from the block it is created. The entire one billion token supply goes into the pool at creation as the launchpad's own positions. Nothing is held back, there is no separate curve and no migration, so every router, aggregator and trading terminal that reads v4 liquidity can route the market immediately.
The bonding curve is made of real liquidity. Per basket leg, the leg's share of 800 million tokens sits in one concentrated range from the opening price ($5,000 market cap) to the cap price ($35,000market cap). Buys walk the price up that range and leave the coin paid inside the pool, which is what pays sellers on the way back down. The leg's share of the 200 million reserve sits in a second range above the cap, so the market keeps quoting past it with no cliff and no relaunch.
The creator's fee is the pool's LP fee, stamped by the fee hook when the pool is initialised. It accrues to the launchpad's positions and is collected into the same ledger every earlier version used, so holder rewards and the $CME buyback work exactly as before. The pool id, hook and pair router never change over the market's life.
Markets created on V3, V4 and V5 keep working on their own contracts. V5 pools priced their curve inside a hook; those markets remain tradeable through the site and any contract that swaps the pool directly.
Markets created before LaunchpadV6 trade on a virtual-liquidity curve inside the launchpad until they migrate. New markets are real pools from block one; see the section above.
Before migration a market trades on a virtual-liquidity constant-product curve held by the launchpad. There is no pool yet: the contract holds the unsold tokens and the coin paid in, and prices every trade against virtual reserves sized so the market opens at the opening cap and completes at the migration cap.
price = virtualQuote / virtualBaseUSD priceprice × commodity USD priceBuys move tokens out of the curve and coin into it; sells do the reverse. Because the caps are fixed in the coin when the market is created, a rally in the commodity lifts every market paired with it in USD terms without changing where the market sits on its curve. Progress to migration is simply the share of the 800 million curve tokens that have been sold.
A market can be backed by up to 5 commodity coins at once. The creator picks the coins and their weights; the curve is then denominated in a basket unit made of those coins in those proportions.
At creation one basket unit is worth exactly one dollar: for a 40% gold, 60% corn basket it holds forty cents of gold and sixty cents of corn at that moment's prices. The opening and migration caps are set in basket units, so a basket market opens at $5,000 and migrates at $35,000 exactly like a single-coin market. Afterwards the unit's dollar value drifts with its coins, as the pair coin's does for a single-coin market.
A trade can go through any leg. Paying with corn converts the corn into basket units at the current prices and buys from the same curve as paying with gold would, so every leg sees the same USD price. Selling returns the leg's coin, as far as the curve holds it. Holders are paid in every coin of the basket, in proportion to what each leg collected.
Each leg that collected coin gets its own Uniswap v4 pool, opened at the same USD price and seeded from that leg's actual reserves plus its share of the reserved supply. A leg nobody paid into gets no pool. After migration the legs are independent pools with their own prices, which is why the exchange routes orders across them for you.
Only markets created before LaunchpadV6 migrate. V6 markets never do: their liquidity is in the pool from the start.
When the last curve token sells, the coin raised and the reserved 200 million tokens move into a Uniswap v4 pool at the curve's final price, in the same transaction as the completing buy. The liquidity is owned by the launchpad and never withdrawn.
Two positions are placed: a full-range position from the reserved tokens and the coin that pairs with them at the final price, and a coin-only position just beside the price holding whatever coin remains, so the pool can absorb sells without a gap. The pool's fee is stamped by a hook at initialisation to the fee the creator chose, and every trade on the pool pays it into the same fee ledger the curve used. The pool is a normal Uniswap v4 pool otherwise: any router can trade it, and the site's pair routers do.
Every market can be bought with ETH, USDG, or any of its coins, and sold back into any of them, always in one transaction.
The launch router swaps ETH to USDG and then to the pair coin through the coin's peg pool, then trades the coin on the curve or the market's v4 pool, and hands the tokens back. Sells run the route backwards. Quotes on the site include every hop, and each trade carries a 1% slippage floor on the amount you receive.
For a basket market the site never asks which coin to go through. On the curve every leg prices the same in USD, so it quotes each leg and uses the one whose swap route loses the least. Once the legs are separate pools it quotes each pool at the full order and at half of it, fits a slippage curve to each, and splits the order across the pools so the combined price is the best available. The split settles in one transaction through the basket router, with one minimum-output check on the total, and the quote shows the split it chose.
The creator's fee is charged on every trade, on the curve and in the pool, and split the same way in both places.
On the curve the fee is taken in the coin paid in. On the pool, buys pay in the coin and sells pay in the market's own token; the token share is sold for the coin at payout time so holders are still paid in the commodity. Markets launched before 8 September 2026 carry a 30% creator share in place of the buyback; their creators claim it from the account page.
Hold a market's token and 40% of its trading fees are paid to your wallet automatically, in the commodity coin the market is paired with. There is nothing to claim.
A basket market keeps one pool per coin and pays each in that coin. The rewards page shows what has been paid to your wallet, what your current holdings are lined up for, and lets you sell any commodity coin you hold for USDG at the feed price.
$CME is the exchange coin. It launched on Pons with a 1% base fee plus a 2% creator fee and graduated into a Uniswap v4 pool; the contract address was derived from the launch parameters before the launch, so it could be verified in advance.
Every cycle the keeper converts the buyback share of collected fees to ETH, forwards it to the deployer wallet, and the deployer buys $CME on its pool through the buyback contract, which burns half and credits the other half to $CME stakers pro rata. The burn is permanent and visible on chain; the $CME page tracks how much has been burned, how much stakers have earned and the ETH spent. A small reserve (2% of holder obligations) is always kept back so payouts never find the treasury short.
Half of every $CME buyback goes to stakers. Stake on the staking page, and every buyback that lands while you are staked is credited to you in proportion to your stake at that moment.
The staking contract keeps a running reward-per-token figure: each buyback adds its stakers' half divided by the total staked, and a position's earnings are its stake times the change in that figure since it last settled. Nothing is claimed for you and nothing expires. If a buyback lands while nobody is staked, that half is burned too, so no $CME ever sits idle in the vault. The split is set by the buyback contract's owner and shown on the $CME page.
An off-chain service run by the exchange keeps the on-chain state honest. It never holds user funds and every action it takes is a public transaction.
| Job | Cadence | What it does |
|---|---|---|
| Price push | 60s | Reads reference prices and writes the ones that moved to the feed contract. |
| Peg repricing | 60s | Moves each coin's single-sided pool when the price crosses a tick line or a side runs dry. |
| Migrations | 15 min | Opens the pool for any market whose curve completed but was not migrated in the completing transaction. |
| Fee collection | 15 min | Collects pool fees and sweeps every market's ledger into the treasury. |
| Holder payouts | 15 min | Pays each market's holder pool once it clears the thresholds above. |
| Treasury conversion | 15 min | Converts the protocol and buyback shares to ETH; the buyback share is spent on $CME, half burned and half credited to stakers. |
Robinhood Chain mainnet, chain id 4663. Every address below is the live one the site uses.
| Contract | Address | Role |
|---|---|---|
| LaunchpadV6 | 0x89a890…aae149 | Current launchpad: the whole supply is real v4 liquidity from creation, routable by any terminal. |
| Fee hook (V6) | 0x238484…a41000 | Stamps each new pool with the creator's fee. Nothing else. |
| Launch router (V6) | 0x5354AF…E66b80 | Creates V6 launches and handles ETH and USDG buys and sells for them. |
| Basket router (V6) | 0xA4a304…299831 | Splits one order across a V6 basket's pools in a single transaction. |
| LaunchpadV5 | 0x569E49…cA23a1 | Hook-priced curve pools created before V6. |
| CurveHookV5 | 0x3B9d59…75e888 | The hook on every V5 pool. Prices swaps on the curve before migration, sets the LP fee after. |
| LaunchRouterV5 | 0xC4c8FA…1b8780 | Creates V5 launches and handles ETH and USDG buys and sells for them. |
| BasketRouterV5 | 0x7EF5be…06B84B | Splits one order across a V5 basket's pools in a single transaction. |
| LaunchQuoterV5 | 0xCe9398…031F21 | View-only curve quotes for V5 markets. |
| LaunchpadV4 | 0x741aE8…6Fc522 | Basket launches created before V5: curves, migrations, fee ledgers. |
| LaunchRouterV4 | 0x925848…5AAcd1 | ETH and USDG buys and sells for basket markets. |
| BasketRouterV4 | 0x1ae8E0…aDA348 | Splits one order across a basket's pools in a single transaction. |
| LaunchpadV3 | 0xA4E6dd…ba0000 | Single-coin launches created before baskets. |
| LaunchRouterV3 | 0x3c198d…33e88C | ETH and USDG trading for those markets. |
| Commodity price feed | 0x3B7847…159ab7 | Reference prices for every commodity coin. |
| Uniswap v4 PoolManager | 0x8366a3…e40951 | Holds every migrated market's pool. |
| $CME | 0xe2324F…00e795 | The exchange coin. |
| $CME buyback | 0xeEcF5d…266F10 | Buys $CME with the buyback share; burns half, credits half to stakers. |
| $CME staking | 0xE25b2f…36D6DE | Holds staked $CME and the stakers' share of every buyback. Stakes lock for 24 hours; earnings never do. |
Each commodity coin has its own token, peg pool, and pair router; the coin's dialog on the commodities page links to them.