How it works

Launch

A creator names the coin, adds an image and makes a first buy of about $10 in ETH. The coin's floor price is set at launch and its first coins sell at that price, so nearly all of that payment goes into the floor reserve. All 1,000,000,000 coins start in the coin's market, so the creator gets none for free.

For the first 3 minutes, an anti-snipe fee sits on top of the trading fee: 30% in the first minute, 20% in the second and 10% in the third. All of it goes to the Floor Wars pot, so a sniper cannot win it back through the coin's own floor. Details: Launching a coin.

Bonding and the move to Uniswap

The first 53% of the supply sells at the floor price set at launch, so those coins are fully backed. After that the price climbs along the curve. When 80% of the supply has sold, which is about 4.2 ETH raised at the current settings, the coin bonds: about half of what buyers paid is in the floor reserve and the rest sits above the floor.

The buy that gets there also moves the coin to Uniswap, in the same transaction. The curve closes for good, and a Uniswap v4 pool opens at the curve's last price, so the price does not jump. The money above the floor opens the pool, the pool's liquidity is locked for good, and the unsold coins that do not go into the pool are burned. The floor reserve stays where it is. Details: Launching a coin.

Trading

Every trade pays a 1.25% fee, on the curve and on Uniswap, and 0.50% of the amount traded goes into that coin's floor reserve. Fees only ever add to the reserve, so the floor rises as the coin trades. A coin nobody trades keeps the floor it has.

On the curve, buys also move floor price × coins bought into the reserve, which backs each new coin at the current floor. Details: Trading and fees.

Selling to the floor

On the curve, sellers trade against the curve, and the price falls as they sell. When it reaches the floor, the reserve pays the floor price for the coins offered.

After a coin has moved to Uniswap, there are two ways to sell: in the pool at the pool's price, or to the floor reserve at the floor price, less the 1.25% fee. Coins sold to the reserve are burned. The pool's price can sit a little under the floor until someone sells to the reserve, so the Hardfloor site quotes both and uses whichever pays more. Details: The floor.

Borrowing (coming soon)

Loans are not part of the current contracts. The plan: holders lock coins and borrow floor price × coins locked, at 0% interest, for up to 90 days, with no oracle and no liquidation price. Details: Borrowing.

Other chains and Floor Wars

• Buy with ETH on Ethereum, Base or Arbitrum in one Relay order, with the coins delivered on Robinhood Chain. This works for coins still on their curve and is not open for the current contracts yet.
• Hold the coin on other chains and sell into its floor from there (phase 3). Both are covered in Any chain.
• Compete in Floor Wars, a weekly pot paid into the floors of the three winning coins (phase 2).