Who owns the pool positions, what they can do, and what the lock cannot prove.
When a frequency launches, the launchpad contract puts the token's entire supply of 1,000,000,000 into its Uniswap v4 pool against WETH, as two positions it owns itself: the curve (725,000,000 tokens, from the opening price up to a cap 6.96× above it) and the reserve (275,000,000 tokens, from the cap to the top of the range). There is no bonding-curve contract and no migration.
The guarantee is structural: the launchpad has no function that decreases a position. Not for the creator, not for the team, not for its own admin. That code does not exist, so no key, multisig or vote can call it.
Exposed
create(params, firstBuy): deploys the token, registers the frequency in the escrow, opens the pool, mints both positions and makes the creator's first buy, in one transaction. If any step fails, the whole launch reverts.collectFees(id): permissionless. Sweeps the fees the two positions earned and routes them through the fixed split. Never touches principal.- Read-only views:
launches(id),fees(id),poolKeyOf(id),idOfToken(token).
Not implemented
- No withdraw, unlock or decrease-liquidity path for either position.
- No mint and no burn on the token: the supply stays exactly 1e9 forever.
- No setter for a frequency's fee, split, hashes or metering.
What the admin can and cannot do
The launchpad has an owner, for operations that concern the platform rather than any launched frequency: pausing new launches, changing the opening price of future launches (by at most 2× per step), and moving the treasury, team and runtime addresses. Every address change waits 48 hours in the open before it applies. None of these powers reaches an existing position.
What it cannot prove
A lock says nothing about price, demand or the quality of the work. It removes one specific failure: the liquidity being pulled by whoever deployed it. The pool is also a normal v4 pool, so anyone can add their own liquidity next to the locked positions; the protocol's split applies only to fees earned by the locked ones.