1 · Trade
Every buy and sell on the Pons curve pays a fixed 2% engine tax on top of Pons' base fee. It is the same for every coin and accrues to that coin's engine.
2 · Claim at 0.1 ETH
When accrued fees reach 0.1 ETH, anyone can call claim(). 50% is swapped to USDG and added to the coin's perp — the exact engine chosen at launch (e.g. ETH 5× LONG). 35% goes to the PerpPad buyback wallet and is used to buy & burn $PERPPAD, 15% buys the coin on the curve and burns it.
3 · Never close
The position only grows. On drawdown, claims keep adding margin. There is no stop-loss and no keeper discretion.
4 · Profit in $100 steps
Every time unrealized profit reaches $100, that $100 is realized: 50% is posted back into the position as margin, 50% is converted to ETH and buys & burns the coin. Nothing goes to treasury. One-hour cooldown between steps.
5 · Graduate at 4.2 ETH
Remaining 200M tokens + raised ETH seed a locked full-range pool. The perp, sub-wallet and fee split are untouched; pool fees keep flowing in via depositFees().