--- name: pair-fund description: Screen of PAIR / pair.fund, the Uniswap V4 launchpad on Robinhood Chain that pairs new tokens to tokenised stocks. Read before re-screening PAIR or any Robinhood Chain launchpad. sources: [cowork] aliases: [PAIR, pairdotfund, pair.fund, PAIR Labs, Luxington] --- # PAIR / pair.fund Screened 31 Aug 2026, ~07:30 UTC. Token 36h old at screen time. ## Identity [stated] Ben pasted contract 0x6b1d42927B1a84eC28Fa88d4fC6FA7AF404966be and asked for a screen. Token PAIR, Robinhood Chain (id 4663), 1,000,000,000 fixed supply, 18 decimals. Project X handle @pairdotfund. Founder-facing handle @0xTugg (3,586 followers). Site pair.fund, footer reads "PAIR Labs by Luxington". GitHub github.com/pairdotfund. Creator wallet 0xa15e4ad0dbc8df1715a7b254526252cd93bb1102 (plain EOA, nonce 111). ## What it is Permissionless launchpad. Anyone deploys a fixed-supply ERC-20 paired atomically to 1 to 5 Robinhood tokenised stock tokens, with Uniswap V4 pools created and permanently locked in the same transaction. 24 stock markets enabled (SPY, TSLA, NVDA, AMC, QQQ, AAPL and others). No bonding curve on V5; graduation is an informational flag only, not a migration. Category: launchpad. Genuine venue asymmetry, it could not ship unchanged on Base or Solana. ## Contracts (from pair.fund/docs, confirmed against chain) PairLaunchpadV5Upgradeable proxy 0x8660A7F019C7943b0b0A91B8E39AFf3b6DB6Ae62 PairV5MultiPoolAggregator 0x9d7741776098aFA315e4D576ede4F2c67a21d8Ce PairV4Locker 0xeFcF476E8870fB3eb8680f039414fdcCE6C2a117 PairPriceOracle 0xF15F6ff9A1f0eD55b8223A4f0Bd6f9c8c0Ab877b StockTokenRegistry 0xA6c3d17BA6D97B1002CdcEb4AbF9Fa3158C85ebd Protocol Treasury 0xbC27542Ae2ED2E4d1d380B5Fe8B2D48404fD824C (plain EOA, nonce 54) ## The decisive finding (revised 08:15 UTC after a second pass) Fee model is 1% swap fee, split 70% creator / 30% protocol treasury. CORRECTION to the first pass: I leaned on totalFeesDistributedUsd = $961.80 from /api/stats/platform as proof that fees were not being collected. THAT FIELD IS UNWIRED. totalCreatorFeesCollected and totalProtocolFeesCollected read "0" even for PAIR itself, where grossCollected demonstrably moved (45,168,358 -> 45,583,533 PAIR and 77.10 -> 79.17 SPY in 55 minutes). Withdraw $961.80 as evidence. Fees on PAIR's own pool ARE accruing. Real gross collected on PAIR's own pool: 45,583,533 PAIR ($170,300) plus 79.17 SPY ($60,881). Protocol share of that: 13,675,060 PAIR plus 23.75 SPY ($18,264). Quote-side accrues about $1,592/hour, roughly $38,000/day, real external money. THE ACTUAL DISQUALIFIER IS DIFFERENT AND STRONGER: the launchpad has no users. 1,335 tokens launched, 1,303 indexed. The top 15 community tokens by 24h volume do $463 COMBINED. Nearly every launched token sits at its ~$3,200 seed market cap with $0 volume. PAIR's own token is $8,645,825 of the $9,490,000 platform 24h volume = 91.1%. The top community token by volume returns grossCollectedProjectFees 0.0 and grossCollectedQuoteFees 0.0. So the fee engine works, and it is being fed almost entirely by PAIR trading against itself. Nothing in the contracts routes protocol fees to PAIR holders; the treasury is a plain EOA. ## The burn, priced 51,308,663 PAIR at 0x000000000000000000000000000000000000dEaD = 5.13% of supply, $191,689 at $0.003736. It is LIVE and growing: 50,038,797 -> 51,308,663 in 55 minutes, about 1.27M PAIR/hr, tracking PAIR's own trading volume. Traced: PairV4Locker -> creator EOA 0xa15e4ad0dbc8df1715a7b254526252cd93bb1102 -> dead, plus 20.7M direct from the v4 PoolManager. Real fee accrual, but NOT a market buyback: no ETH or stock tokens were spent to acquire it. It is PAIR-denominated fee inventory skimmed from PAIR's own pool, so it decays with PAIR's own volume rather than being funded by launchpad customers. Treasury ETH moved 0.0889 -> 0.6404 in the same window; treasury stock-token balances did not move at all. ## Numbers at screen time Price $0.003957, mcap/FDV $3.70M (mcap == FDV, 100% circulating, no unlock overhang). Launched 2026-08-29 19:07 UTC. ATH $0.009963 (FDV $9.96M) at 2026-08-30 20:00 UTC. At screen: -60.3% off an ATH set 11.3 hours earlier, no base. Holder sweep reconciled exactly to 1,000,000,000 (98,454 logs from block 49,391,541). 3,126 holders, 3,123 excluding infra. Top 10 real holders 13.62% of supply, largest 2.48%. No uniform-slice farm pattern. Real quote-side bid summed across live pools: $217,224. Net buy for 10x approx $234,849. 24h volume $8.75M against $453k total pooled = 19x turnover, churn not accumulation. ## Contract safety Selector scan on runtime bytecode: no mint, pause, blacklist, setFee, setMaxWallet, transferOwnership. owner() reverts. GoPlus buy_tax 0, cannot_sell_all 0. Source unverified (is_open_source 0) but behaviour observable in transfers. Clean. ## Peers, Robinhood Chain launchpads PONS 0x39dBED3a2bd333467115dE45665cC57F813C4571 ~$234.9M mcap STONKBROKER 0xe934e36A439C94017B64a3FecE66AF12099aBF50 ~$36.4M mcap, StonkBrokers TVL $1,025,187 SENTRY 0x1EcA20cfa4AF2e2fA2F4CE2bF8d97bFa184FD4D7 ~$5.6M mcap, Sentry TVL $223,410 Boardwalk ~$783,664 mcap, TVL $27,620 token.select TVL $356,063 and NOXA Fun TVL $5,470,022 have no meaningful token. DefiLlama does not track pair.fund as a protocol at all. Robinhood Chain carries 133 protocols of which 30 are launchpads, so "first mover" is false. ## Attention Tier-one coverage: ZERO. Every hit for blknoiz06, theunipcs, pingucharts, CrashiusClay69, 0xkioto, _0xghost_, metaversejoji, dontbuytops was a word-match false positive on "pair". Heavy bot spam: dozens of near-identical "listing radar ping" posts, tiny accounts, zero likes. ACTIVE PHISHING campaign using the correct contract address, "$PAIR holder portal / check eligibility" drainer links from accounts with 5 to 211 followers. LBank listed it 30 Aug. BasedAlphaOnly (Discord call channel) claims entry at $15.6K MC. ## Verdict given No at $3.70M on 31 Aug 2026. Product real, contract clean, venue asymmetry genuine, but the revenue is derived rather than captured ($961.80 measured), the burn is circular fee inventory rather than a buyback, the token has no contractual claim on protocol fees, and entry was -60% off an 11-hour-old ATH with no base. Classified Probe not Starter. Named upgrade trigger: totalFeesDistributedUsd on /api/stats/platform moving into five figures, or the treasury address starting to hold real stock-token balances. ## Book overlap flagged Ben already holds STONKBROKER $12,900, a direct Ring 1 competitor launchpad on the same chain, plus SESTRI $2,400. Robinhood Chain was 9.7% of book at the 24 Aug snapshot. ## Update 4 Sep 2026: the launchpad worked, and PAIR ran Reversal of the 31 Aug "No at $3.70M". PAIR is $10,111,728 on 4 Sep, +138% in 24h, v24 $3,364,666. That is 2.7x from the screen price. The disqualifier I named ("the launchpad has no users") is now false: community tokens are doing real volume. ### Working API endpoints (all reach the cloud container directly, no bridge) ``` https://pair.fund/api/stats/platform https://pair.fund/api/tokens?page=N&limit=100 -> {items,total,page,limit}, pages fully https://pair.fund/api/tokens/{address} -> per token, incl. graduated flag + pools ``` `totalFeesDistributedUsd` is STILL unwired, still reads $961.79817593. Ignore it, same as before. `activeTokens24h` reads 0 and is also unwired. `totalDepthUsd` on the token record is ACTIVE VIRTUAL SWAP DEPTH, not pool liquidity, and reads well below DexScreener's summed `liquidity.usd` (CHIPS: $31,063 vs $75,836). Use DexScreener for liquidity, per the standing rule; use pair.fund only for graduation state and the pool weights. ### Platform state 4 Sep 2026 1,768 launched, 1,736 indexed, **15 graduated (0.85%)**. Graduation is a real filter on this pad. Graduated set by market cap: PAIR 0x6b1d42927B1a84eC28Fa88d4fC6FA7AF404966be $10,111,728 +138% v24 $3,364,666 CINEMA 0x9936403a9cc72cf306063e3496ea387428a3aecd $3,361,535 +1240% v24 $14,333,207 CHIPS 0xbcd09284dFfe06f868a4650546233e3E9AbE4d97 $458,995 +65% v24 $122,638 ELON 0x38c4d77938821037d3a42c7da0519ee5a9158cad $335,165 +326% v24 $250,599 PEAR 0x3567c5d0ae5c5933920bbd6db982aa463a203bb2 $214,348 +85% POPO 0xad4ee775920441d9555a3ed0ab24bcb3e34e9460 $120,435 +74% CATDOG 0xcc4106ca4ad17ad8afd5fd84b880a87ebf6caaff $98,828 +53% X 0x3701b015260c6735c3861f248c70b878da097689 $73,171 +515% Ungraduated but running: DUMBMONEY 0xe4902ea6a8a05f09f14032f837b50fa374dc3261 $458,694 +5916% v24 $2,372,366. ### CHIPS / Chips Party Pack, screened 4 Sep 2026 Ben holds it, up ~150%. Contract 0xbcd09284dFfe06f868a4650546233e3E9AbE4d97, Robinhood Chain. Launched 2026-08-24, graduated 2026-09-03. Supply 1,000,000,000. Fee tier 10000 = 1% per swap. Four V4_MULTI pools at 25% weight each: NVDA, MU, INTC, AMD. Pools permanently locked by PairV4Locker. Creator 0x7e3726ffd3c33932856ebfdff650637f3ada39cc, `creatorFeeRecipient` the same address. **`initialDeveloperBuy` = 0 and `quoteSpentOnDeveloperBuy` = 0. The dev bought none of his own token.** Launchpad metadata has website, twitter, telegram and discord ALL NULL. No registered project socials. DexScreener summed liquidity $75,836 across 4 real pools (~$19k each), v24 $446,983 = 5.9x turnover. Net buy for 10x: ~$82,000 on the DexScreener depth, ~$34,000 on pair.fund's active swap depth. X evidence 4 Sep: @NobleIrons7de (38,807 followers) posted regret at not sharing it at $320k mcap. @shockermandan (18,822) 3 Sep: basket tokens may beat single-stock, "the meme fits really well". @WYCKSCORE smart-money alert logged $138K -> $324K. @chips_partypack (34 followers) is the only project-side account and self-funded the DEX update. So: real early callers, no narrative owner. Fomo thesis poster is DefiFranz, bullish for 2+ days, on 4 Sep posting "last few hours to buy this at reasonable price" — urgency language from a holder, treat as a sales line not as data. TICKER COLLISION, live: $CHIPS on BSC 0x34f3e4bb710E8D161aD2738922A3333001307777 ($238k, -24%) is being pushed harder (@bayouirish31, 10,597 followers, NVDA + BNB RWA angle) than the Robinhood one. Ticker search on X returns both. Watch for narrative migration to the BSC contract. Also a "claim portal" drainer campaign runs on the CHIPS ticker, same template as PAIR's. ### Correction owed and given I first screened the WRONG Robinhood CHIPS: 0x68281919E022B0feF78E4A6181a9050fD6131e18, a dead $709,652 coin whose pool holds 98% of its cap, 11 buys against 60 sells in 24h, no socials, quoted against AI. Called it a sell. Ben's is the pair.fund one. The metric that separates them is liquidity-to-market-cap: 98% (dead, cannot move) versus 15.5% (thin, moves cheaply). LESSON: when a ticker resolves to more than one contract on the SAME chain, do not pick by liquidity rank. Confirm the contract with the user or by matching the described mechanism first. ## 6 Sep 2026 — THE BUYBACK IS REAL AND EXTERNAL. Two prior screens were wrong about this, including mine this morning. - [stated] Ben: "maybe what PAIR is doing is a second PONS move where they just undervalued it based on burn or revenue. It doesn't need to be all of these criteria." He named his five criteria: chain metrics, market cap, usage, money pointed at the token, sellers exhausted or not selling. ### THE CORRECTION, and it reverses the 31 Aug "burn is circular fee inventory" finding - **Creator EOA `0xa15e4ad0dbc8df1715a7b254526252cd93bb1102` spent 92.35 ETH over 7 days across 77 transactions BUYING PAIR on the open market, then burned it. ZERO PAIR arrived as free fee collection over the same window.** Method: `eth_getLogs` for `[Transfer, topic1=PoolManager, topic2=creator]`, then `eth_getTransactionByHash` on every hit, splitting on whether the creator's own tx carried native ETH `value > 0`. - Route decoded on tx `0xc23a01a872d3861f3238cefc203d97d43151535ebf676d0f3e9a647d572efff9`: creator sends **5.000 ETH** native -> WETH -> USDG (v3) -> SPY (v4) -> **PAIR out of the PoolManager to the creator** -> burned in a later one-log tx. Also `0xe7a11ea0f76539ab8160293dfc6f1c376dc495c14f85bfb2c77f56bbf8d411c7` at 2.000 ETH. - Daily ETH spend, 6d ago -> today: **21.90 / 10.65 / 8.60 / 5.60 / 13.80 / 12.00 / 19.80 ETH.** Today is the second-biggest day of the week. - **THE ONE-LOG TRAP CUTS BOTH WAYS.** [[rh-value-accrual]]'s rule "a burn tx receipt with exactly ONE log is inventory, not a bid" is correct about that transaction and WRONG as a verdict here, because PAIR's buy and burn are **two separate transactions minutes apart**. Checking only the burn tx says "circular". Checking the burner's ACQUISITION says "bought with ETH". **Standing fix: when a burn tx has one log, do not stop. Trace how the burner acquired the tokens, and check whether that wallet spent native ETH or a quote asset to get them.** - **PRICE THE BUYBACK IN WHAT WAS SPENT, NOT IN WHAT WAS BURNED.** [[rh-value-accrual]] booked PAIR at **364% of cap** by valuing 63M burned tokens at today's price after a 6.5x weekly run. Measured in ETH actually spent it is **$231,800/7d = $12.09M/yr = 39% of cap**, and 59% at today's 19.8 ETH pace. **The 364% is ~9x overstated. Correct that row.** - Burn total: **102,177,192 PAIR at 0x000000000000000000000000000000000000dEaD = 10.218% of supply**, up from 51,308,663 (5.13%) on 31 Aug. 92 burn events in 14d. Zero mints. Burn sources: creator 80,438,469, protocol treasury `0xbC27542Ae2ED2E4d1d380B5Fe8B2D48404fD824C` 16,892,696, third wallet `0x18fe9694a335c8b42d228147eddac524748300ea` 4,846,018. - **Creator, treasury and third wallet all hold ZERO PAIR.** They burn 100% of what they acquire. `PairV4Locker 0xeFcF476E8870fB3eb8680f039414fdcCE6C2a117` holds 417,221 ($13,409). There is no team stack to dump. ### THE DISQUALIFIER FROM 31 AUG ("the launchpad has no users") IS NOW FULLY DEAD - **2,039 tokens launched, 26 graduated, 65 doing over $1,000 of 24h volume.** - **Platform 24h volume $13,443,671. PAIR's own pools are $7,126,696 = 53.0%; community tokens are $6,316,975 = 47.0%.** On 31 Aug PAIR was 91.1% of platform volume. Real customers now. - Top community tokens 24h: Elon `0xc71d692ff5323d818b425a9536301c5147ed3a6b` $1,384,456 · CINEMA `0x9936403a9cc72cf306063e3496ea387428a3aecd` $1,073,095 · Titties `0x350cadde605e083f58d286e8b3a6b086685fa1ec` $776,832 · asd `0x5422663e07d6fc217b0af4532fb1a6c9c7de5555` $612,124 · RETIRE `0xa420fe03dfcca13c748c44bbdb71de5560ab859e` $411,135 · POPO `0xad4ee775920441d9555a3ed0ab24bcb3e34e9460` $287,872. - Fee arithmetic at 1% / 70 creator / 30 protocol: gross **$134,437/day = $49.07M/yr = 170% of cap**; protocol share $40,331/day; community-only protocol share $18,951/day. - **Fee inventory is NOT being hoarded: only $963 of unconverted dust sits across the treasury and third wallet, across 56 priced tokens.** They convert and recycle. ### UNRESOLVED, and it is the load-bearing gap **Where the creator's ETH comes from could not be traced.** Native ETH transfers emit no logs; visible fee-token selling over 7d was only 112.88 SPY (~$74,500) against ~$232,000 spent. Blockscout `txlistinternal` is Cloudflare-challenged from the container and the browser bridge was denied read permission on that domain. **If the ETH is fee revenue the machine is self-funding; if it is team capital it stops when they stop. Get `txlistinternal` on 0xa15e4ad0dbc8df1715a7b254526252cd93bb1102` next pass.** ### Market state 6 Sep 2026 mcap **$30,943,800**, price $0.03446, **h24 +394%, h1 +30.9%**, true intraday ATH $0.036419751 set TODAY, so **-5.4% off it: this is a vertical, not a base.** txns h24 5,461 buys / 4,454 sells. Deepest pools PAIR/SPY `0xf224a070c8626c890a085b258cf562ee4bf052b6d1d59104b3b44d722640c001` liq $654,669 v24 $7.13M, PAIR/USDG `0x97f48c8d9639b7940874b6c6a43b3d606d070a694920b545acff9c35926593a6` liq $485,911. Path: $3.70M (31 Aug screen) -> $10.11M (4 Sep) -> $30.94M (6 Sep) = **8.4x from the screen that said No.** ### VERDICT 6 Sep: the mechanism is a BUY, the entry is not PAIR is the only Robinhood Chain name that passes all five of Ben's criteria on verified evidence. **But it is at an all-time high after +394% in a day.** The Pons-shaped trade is the pullback, not this candle. **Trigger to buy: price back off the vertical while the creator's daily ETH spend holds above ~10 ETH. Trigger to abandon: the ETH spend stops.**