Tokens

Tokens is the record of what your launches and bundles left behind, and the only place that sells.

What a position is

A position is created by a launch, a bundle or a plain token launch. It stores the token, the transactions, and which wallet holds what, including the private keys needed to sell later, encrypted at rest.

Without that record a launch is a token address in a transaction log and a set of wallets you would have to reassemble by hand.

Refreshing

The page does not poll. Refresh reads the chain: each wallet's balance, the venue the token trades on now, and what the position is worth.

A position can change venue between refreshes. That is graduation, and the page follows it.

What "Worth now" means

It is one quote for the whole holding, not the sum of what each wallet would get on its own.

That distinction is the difference between a number you can act on and one you cannot. Each wallet's own quote is priced against the pool as it stands, untouched; adding five of them together describes a world where the other four wallets did not sell. On a thin curve that overstates the exit badly, and it overstates it more the larger the position is, which is exactly when it matters.

Measured on a fork: five wallets, 2 BNB into a shallow curve, read as 2.047 BNB the block after buying (a profit that cannot be realised) when one quote for the total said 1.842. The second number is the true one.

The per-wallet Worth column still shows each wallet's own exit, alone, which is the right figure when you sell from one wallet.

Selling

Choose a percentage and the wallets to sell from. The console:

1. Resolves the venue and reads how deep it is.
2. Tops up gas for any wallet too empty to sign.
3. Sells every wallet in one block, so nobody can get out ahead of the wallets that have not gone yet.

The share is taken from what each wallet holds right now, not from what it bought, so 50% twice leaves a quarter rather than nothing.

Why the sales do not revert

Each wallet's minimum is set to what the last wallet in the bundle will get. Inside a bundle nothing else executes, so the only thing moving the price is your own sales, and the worst rate anyone can get is a closed form on any constant-product venue. That makes the minimum conservative for the wallets that go first, and their actual price is better than it.

Where a bundle cannot be made honest, the sales go one at a time and the log says which of these it was:

• no builder on this chain (which is every sale on Robinhood Chain: see below);
• a venue whose depth cannot be read (the aggregator, or a V3 pool);
• a token that caps trade size, so the sale has to split;
• one wallet, or more wallets than the builder's limit;
• a sale so large that one shared minimum would protect nothing.

Approvals

The approval each sale needs was already made when the wallets bought. An approval is not urgent and never expires, so the moment to make it is while the wallets are funded and nobody is watching for an exit: a wave of approvals immediately before a sale announces the sale as clearly as the sale does.

If one is missing anyway, because the wallet had no coin at the time or because the token has since graduated to a different venue with a different spender, the sale approves it then. Those approvals, and any gas top-ups, go out as one wave rather than wallet by wallet: they are independent transactions from independent wallets, so making each wait for the one before it only bought the market five blocks of warning that a sale was coming.

Gas top-up

Offered because it is usually needed. On PONS the bundler buys for wallets out of the creator's balance, so they hold tokens and no coin at all. Set a funder wallet and each seller is topped up before it signs.

Sweeping

Off by default. On, every wallet forwards its proceeds as soon as it sells. That is one step out of the wallets, but a wave of identical transfers into a single address right after a wave of sells is a pattern anyone can read, so it stays out of the bundle and stays a choice.

Selling on a chain with no bundle market

On Robinhood Chain the sales go out one after another, because there is nothing to bundle them into. The launch bundler that puts a creation and every buy into one transaction does not have a counterpart here, and the reason is whose authority each side needs: on a launch the creator pays for everything and the curve sends tokens straight to each recipient, so one wallet can act for all of them. A sale is the opposite. Each wallet holds its own tokens and only that wallet can authorise moving them.

A contract could still do it, by having every wallet approve it once and then pulling and selling each balance inside a single transaction. That trade is not free: every sale would come from one contract address instead of from the wallet that made it, which is the pattern the rest of this console spends its effort avoiding. On a chain with a bundle market you get both, because a bundle keeps each wallet as its own sender.

Transaction caps

Some tokens revert the whole swap above a per-transaction limit, and the wallet is left holding everything it tried to sell. The console reads that limit off the token and splits the sale into several transactions when it has to. Proceeds are measured across all of them, with gas added back, so the figure you see is what the pool paid rather than what survived fees.

Creator fees

Launchpad tokens accrue a creator's cut of each trade. Where the protocol allows claiming it, the position page shows what is pending and what is claimable, which are two different numbers, and claims to the address entitled to it.