FAQ

Two things.

Its liquidity cannot be removed — not by a timelock that will one day expire, but because the contract holding it has no withdrawal function in its bytecode at all.

And once its own trading has put $15,000 of USDC behind it, the coin re-pairs to a leveraged tracker of a real stock, at the multiple its creator chose (up to 5×). Its floor stops being idle dollars and becomes a leveraged position that moves when Nvidia moves, whether or not anyone is trading the coin.

Not yet. The contracts are written and tested but not deployed on Avalanche. Their addresses will be listed in Architecture at launch, with verified sources on Snowtrace. Until then, treat any address presented as Flake Fun's as unverified.

They cannot remove the liquidity. There is no function that does it, for them or for anyone — see Locked liquidity.

They can, of course, sell their own coins if they hold any. That is true of every token that has ever existed and no contract prevents it. What you can check is how much of the supply they hold, on any explorer.

1% on every swap, split 70/30 between the coin's creator and the protocol — 0.7% to the creator, 0.3% to the protocol.

There is no transfer tax and no launch fee. Nothing is taken on buys or sells beyond the pool's fee, which is visible in the quote before you sign. After the bond, a buy paid in USDC also crosses the tracker's own USDC pool, which charges 0.05%. Gas comes on top, and on Avalanche it is paid in AVAX — a fraction of a cent a transaction at the fees read on chain on 2026-09-21.

Because Uniswap V3's fee tiers are fixed by its factory, and 1% is the highest one enabled on Avalanche. We do not own the factory to add another.

The ways to charge more would cost the thing we care most about: a transfer tax makes swaps through the standard router revert and gets the coin flagged by every scanner, and a V4 dynamic-fee hook lives on a venue bots cannot read. See The single pool.

Gas, plus an opening buy of your own coin of at least $1 — and those coins are yours. There is no launch fee and nothing to deposit: the launch position holds only your coin, so there is nothing to pair against it.

USDC, and a little AVAX for gas.

Buying, selling and launching all take USDC and pay out USDC. It has to be Circle's native USDC on Avalanche (0xB97EF9Ef8734C71904D8002F8b6Bc66Dd9c48a6E), not USDC.e, the older bridged token, which the contracts do not accept. Payments go through the USDC token with an approval.

Gas on Avalanche is paid in AVAX. A transaction costs a fraction of a cent, so a small amount lasts a long time, but a wallet with no AVAX at all cannot send one. That includes a wallet created by signing in with an email address: it starts empty, so send it a little AVAX before your first transaction — the app does not pay gas for you today. Nothing here takes AVAX as payment: a transfer of AVAX to Flake Fun's contracts is refused. See Buying & selling.

Any market in the catalogue: the 32 stocks, indices, metals and commodities listed on What is Flake Fun?. Long or short.

The multiple is yours to pick, from 1× up to that market's cap — the lower of the product ceiling (5×) and what a position can hold on that market on Lighter, the exchange behind the trackers (90% of Lighter's own cap: 18× on its 20× markets, 9× on its 10× markets, 45× on SPY). Every market listed today therefore goes to 5×. The form only shows the pills the market allows, and the factory enforces the same limit on chain. See Leveraged trackers.

When its own pool has accumulated $15,000 of USDC — bondBackingUsd, a public, immutable value on the launcher. The coin page shows it as a market cap, which is the same statement in a form you can watch approach.

The protocol's keeper triggers it as soon as the threshold is met, so you never have to. The call is permissionless all the same: nobody decides whether a coin bonds, the threshold does.

Nothing. They stay in your wallet, the balance does not change, and the dollar price is the same on both sides of the transaction.

What changes is what sits behind them: the accumulated dollars become a leveraged position on a stock. The market also moves to a new pool address, so a chart keyed on the old pool will look like it ended — the coin is the stable identifier.

After the bond, the coin is quoted in its tracker rather than in dollars. When the tracker's NAV moves — because the stock moved — the coin's dollar price moves with it, with no swap involved.

It cuts both ways. A quiet day where the stock goes against the coin thins the backing even though the chart looks calm.

It is real, and it is leveraged. Those are different from safe.

The position sits on Lighter, an order-book perpetuals exchange built as a zk-rollup on Ethereum, in an account held by the protocol's hedge wallet — an ordinary wallet whose key the protocol holds, because a smart contract cannot own a Lighter account. Every tracker of that wallet shares its one account, and the keeper keeps a per-tracker ledger of each one's share. The tracker's vault can send money to that wallet and to no one else.

Lighter takes USDC straight from Avalanche: the hedge wallet sends it, with a plain transfer, to a deposit address Lighter issues for it. On the way back Lighter's fast withdrawal pays the wallet on Arbitrum, and the wallet bridges the USDC with Circle's CCTP naming the vault as the recipient, so it is minted straight into the vault on Avalanche.

What the chains prove is every dollar that left each vault (HedgeFunded events on Avalanche), every transfer to Lighter's deposit address, every payout on Arbitrum, every bridge burn and mint, and every dollar minted back into a vault. What they cannot prove is the account itself: Lighter accounts are on neither chain and are not public, so the equity behind a tracker rests on the keeper's signed NAV. The hedge book shows what each tracker's backing amounts to and how to check the parts that can be checked.

And it can lose value fast: a leveraged tracker decays on a round trip in the underlying, pays funding every hour, and can be liquidated — and because every tracker of the hedge wallet shares one account, a liquidation would hit all of them. See NAV, decay & funding.

Nothing here is a stablecoin reserve and we would rather you knew that than found out.

Four layers, with different answers.

The coin's pool. Nobody. The locker has no withdrawal function. The tracker's vault. It can pay out in two ways only: to holders who redeem, at NAV, and to its hedge wallet through fundHedge — capped on chain at the idle USDC above its redemption floor, never before the tracker bonds, never while paused. Nobody can choose another destination. The vault owner can stop the hedge path entirely with setHedgeFunder(address(0)). The dollars on Lighter. These come back only through the hedge wallet's key. The keeper's code only ever withdraws to the wallet itself, and from there only ever bridges to a vault, but the recipient is a field the key signs: someone who stole that key would not be bound by the code and could withdraw the whole account — every tracker of the wallet — anywhere on Arbitrum. Lighter itself holds the deposits; being a rollup on Ethereum, it has an escape hatch through which an account holder can force an exit on Ethereum if the venue stops answering (to the wallet's own address, so still through the wallet key). The dollars in transit. On the way out they sit at Lighter's deposit address — an address belonging to Lighter's bridge operator — for the minutes it takes to be credited. On the way back they are paid by a liquidity pool Lighter runs (which can be short, in which case a return waits), sit on the hedge wallet on Arbitrum for one hop, guarded by the keeper's code and by nothing on chain, and cross Circle's bridge — its attestation service, its pausable contracts, USDC's blocklist.

That is the part of the product that is not trustless, and Risks & security spells it out.

No. Lighter lists its stock, index and commodity perpetuals around the clock, weekends included, with no closed-market price band, so a bonded coin's floor keeps moving at any hour.

The keeper only ever sends immediate-or-cancel limit orders priced off the venue's mark; on a thin book one may not fill, and it is tried again on the next pass. The price can still jump when the underlying market reopens. A market that Lighter halts cannot be traded until it resumes.

Nothing is charged to your wallet, but the tracker behind the coin pays its way on Lighter, and that shows up as drag on its NAV: funding, settled every hour; no trading fees (Lighter charges a Standard account 0 maker and 0 taker); a fee on each fast withdrawal from Lighter (3 USDC according to its docs) and whatever Circle's bridge charges on the route from Arbitrum back to Avalanche (neither measured yet); and the volatility decay of any constant-leverage product. The tracker vaults themselves charge no mint, redeem or management fee today. See NAV, decay & funding.

Yes, two ways: sell them in the tracker's USDC pool, or redeem them at NAV on the tracker's vault.

A redeem is paid at once when the vault holds enough idle USDC. Shared trackers keep no idle buffer on purpose, so a larger redeem joins a first-in-first-out queue that the keeper fills by withdrawing from Lighter and bridging the USDC back from Arbitrum — 15 to 20 seconds for Lighter's fast withdrawal according to its docs, plus one Circle attestation (seconds to a few minutes according to Circle); neither measured on this route yet — when all goes well, longer when Lighter's fast-withdraw pool is short or the venue or the bridge is slow. A queued redeem can be cancelled until it executes.

Connect the wallet that launched the coin, with a little AVAX in it for gas, and open its page — the claim panel is visible only to you.

It takes two transactions and the button does both: one to sweep the fees out of the Uniswap position, one to send your share. See Claiming your fees.

No. They accrue for as long as the coin trades, through the bond and after it, and there is nothing to renew. The liquidity is locked forever, which is exactly what makes the fee stream permanent.

Immediately, in the block it launches. It is an ordinary ERC-20 in an ordinary Uniswap V3 pool quoted in USDC, one hop through the canonical router, with no transfer tax to make swaps revert.

That is a design constraint we paid real costs to keep — see Integrations.

Not by the token. No branch of the coin's contract gates a transfer into the pool, in any block, under any condition.

After the bond, the dollars can arrive late, but not below your minimum. The tracker's vault keeps its USDC on Lighter behind the hedge, so when it cannot pay your sell at once, the swap still goes through and the USDC part waits in the vault's queue. The vault pays it once the keeper has recalled the dollars, usually within minutes, at the NAV of that moment. If that NAV would pay less than the minimum you accepted, the request is skipped, and you can cancel it from your Portfolio to get your tracker tokens back. See Buying & selling.

The one outside limit is USDC's own. Circle's USDC has a blocklist, and an address on it can neither send nor receive USDC — so it cannot receive the proceeds of a sale either. That is a property of USDC, not a rule of ours, and no contract of ours can lift it.

Not in front of you. In the launch block the token only lets your own seed buy receive coins. For the next five blocks no single buy from the pool may exceed 5.5% of supply and no wallet may come to hold more than 5%. Avalanche produces about one block a second, so the whole window lasts about six seconds. It counts blocks, not seconds, and lifts on its own. Selling is never restricted. See Launching a coin.

Not by a third party. They are tested — including against the real Uniswap contracts and USDC on a fork of Avalanche mainnet — will be deployed unproxied, and the bytecode is what runs. Neither the Lighter side nor the bridge back from Arbitrum has carried a dollar from this system yet: the first live tests will be a 10 USDC round trip — vault to Lighter, fast withdrawal to Arbitrum, CCTP back into the vault — and small-size tests on Lighter mainnet. See Risks & security.