# Glossary Short definitions of the terms used across baselaunch, with the numbers that apply on Base. ## Base (network) Base is the blockchain network, with chain ID 8453, where every baselaunch coin is created, traded and paid out as an ERC-20. On baselaunch, creating a coin costs 0.0005 ETH plus Base network gas, and that gas goes to Base, not to baselaunch. The launcher contracts are public on Base, so anyone can call them directly, and baselaunch.app is one interface to them. Transactions on Base are final: nobody, including baselaunch and the creator, can reverse a trade or return a loss. See the [docs](https://baselaunch.app/docs) for the contracts and how a launch works. ## Base trading fee The base trading fee is the fee every buy and sell of a baselaunch coin pays, charged in the coin's pair asset and separate from any creator fee. On baselaunch it is 1% on the bonding curve and 1% in the Uniswap pool after graduation, where the protocol's pool hook takes it instead of a separate pool fee. The protocol receives 30% of it, paying a trade referrer 0.2% of the trade from that part when there is one, and the other 70% goes to the creator side. Each coin copies the rate when it is created, so it never changes while the coin trades. See the full split on [fees](https://baselaunch.app/fees). ## Bonding curve A bonding curve is a contract that holds a coin's unsold tokens, sets the price from how many have been sold, and fills every buy and sell itself. On baselaunch, the full supply of 1,000,000,000 tokens is minted into each coin's own curve, with no presale and no team allocation. The price rises as tokens are bought and falls as they are sold, and a virtual reserve means it never starts at zero. When the curve sells its last sellable token, the coin graduates to a Uniswap v4 pool. See [how it works](https://baselaunch.app/how-it-works). ## Buyback and lock Buyback and lock is a creator option that spends part of a coin's creator side buying the coin back and holding it in a vault that releases it over time. When it is on, 50% of the creator part of the base fee, and of the launch tax on the curve, buys the coin and sends it to a buyback vault. The coins are not burned. The vault releases them in a straight line over 5 years. With today's settings, 70% of each release goes to the creator and 30% goes to the protocol. The creator fee itself is never spent on it. Only the coin's creator fee recipient can turn it on, and the owner can only turn it off. See [creator fees](https://baselaunch.app/creators). ## cbBTC cbBTC is an ERC-20 asset on Base that the protocol owner has approved as a pair, so a baselaunch coin can be priced and traded against it instead of ETH. A coin on a cbBTC pair starts its bonding curve with a virtual reserve of 0.052739 cbBTC and graduates when the curve holds 0.13184752 cbBTC. After graduation its Uniswap v4 pool holds the coin against cbBTC. Buyers approve cbBTC in their wallet first, one extra signature, and creators are paid in cbBTC, never converted to ETH. The launch fee is still 0.0005 ETH, paid in ETH, and the risk of cbBTC itself adds to the risk of every coin priced in it. [How pairs work](https://baselaunch.app/docs) ## Contract address A contract address is the address on a blockchain where a smart contract lives. For a coin, it is the address of the coin's ERC-20 contract. On baselaunch every coin is an ERC-20 on Base, chain ID 8453. Anyone can launch any name and image, so names and tickers are not unique or verified, and a logo can copy a real project. The contract address is the only identity a coin has, so check it before you trade. The addresses of the launcher contracts, with Basescan links, are listed on [security](https://baselaunch.app/security). ## CREATE2 and vanity addresses CREATE2 is an EVM opcode that deploys a contract at an address computed in advance from the deployer's address, a chosen salt and the contract's code. A vanity address is one picked, often by trying many salts, so that it starts or ends with recognizable characters. On baselaunch, each coin and its curve are deployed by a helper contract that the factory owner can wire only once. Names and tickers are not unique or verified, and a logo can copy a real project, so the contract address is the only identity a coin has. A familiar prefix or suffix proves nothing on its own, so compare the full address before you trade. The launcher contract addresses are listed on [security](https://baselaunch.app/security). ## Creator fee A creator fee is a fee on each trade of a coin, set by the coin's creator at launch and paid to the creator side. On baselaunch the rate is chosen from 0 to 10% and is fixed for the life of the coin. It is charged on every buy and sell, on the bonding curve and in the Uniswap pool after graduation, on top of the 1% trading fee, and the two together can never exceed 20%. It is paid in the coin's pair asset to the creator's fee wallet or to its holders, and buyback and lock never spends it. See [creator fees](https://baselaunch.app/creators). ## ERC-20 An ERC-20 is a standard format for fungible tokens on Ethereum-compatible networks such as Base, so any wallet or app can hold, transfer and trade them the same way. On baselaunch, coin and token mean the same thing: an ERC-20 on Base. Every coin is a plain ERC-20 with a fixed supply of 1,000,000,000 tokens, minted once at creation and placed entirely in its bonding curve. The coin contract has no mint function, no owner and no transfer rules, so nobody can create more tokens, freeze a wallet or pause transfers. Pair assets such as USDC and cbBTC are ERC-20s too, and on those pairs your wallet approves the pair asset in one extra signature before it buys. [Docs](https://baselaunch.app/docs) ## Fee escrow A fee escrow is the contract that holds each fee recipient's earnings as a balance until that recipient claims them. On baselaunch, fees are never pushed into wallets during a trade. A trade referrer's 0.2% of volume is credited in the trade itself, and the other shares reach the escrow when the coin's fees are swept. Balances are kept per asset, so ETH and each ERC-20 pair asset are claimed separately. The escrow has no owner and no rescue function, and it pays a balance only to the address it was credited to. Each launcher version has its own escrow, so a creator with coins on an earlier set and the current one claims from both. This pull model means one recipient that cannot accept a payment never blocks anyone else's trade or payout. See [fees](https://baselaunch.app/fees). ## Fee sweep A fee sweep is the step that moves a coin's collected trading fees from its bonding curve or pool hook into the fee escrow, where each recipient can claim its share. On baselaunch, a sweep is run by the protocol's fee sweep operator, or by the coin's creator fee recipient when no swap is needed, and on a coin with buyback turned on it also runs the buyback. In the pool, part of the fee can be taken in the coin itself, so the sweep sells that part for the pair asset within a price impact cap of 3% by default. When the sale would move the price more than that, it is skipped and retried on a later sweep. See the [docs](https://baselaunch.app/docs). ## Full-range liquidity position A full-range liquidity position is liquidity in a Uniswap pool that is spread across every possible price, so the pool can quote a trade at any price rather than only within a set band. On baselaunch, a graduated coin's pool liquidity is a full-range Uniswap v4 position held by the liquidity locker. On an ETH pair it opens with 4.2 ETH and 204,081,633 tokens, at the curve's final price. The locker has no withdraw function, so no key, including the owner's, can take this liquidity out. [Security](https://baselaunch.app/security) ## Graduation Graduation is the step where a coin leaves its bonding curve and starts trading in a Uniswap v4 pool whose liquidity is locked permanently. On baselaunch it happens inside the buy that takes the last of the 714,285,714 sellable tokens, when the curve holds 4.2 ETH on an ETH pair. The funds the curve collected and 204,081,633 of the reserved tokens open the pool at the curve's final price, and the remaining 81,632,653 tokens are locked for good and never circulate. If graduation cannot finish in that buy, anyone can complete it later with a public function. Graduation says nothing about a coin's quality, and many coins never reach it. [How it works](https://baselaunch.app/how-it-works) ## Graduation target A graduation target is the amount of pair asset a coin's bonding curve holds when its last sellable token is bought, the point at which the coin leaves the curve for a Uniswap pool. On baselaunch the target on an ETH pair is 4.2 ETH, reached when 714,285,714 of the 1,000,000,000 tokens have been bought. Each pair has its own target, always 2.5 times its virtual reserve, so a USDC coin graduates at 8,090 USDC. The target is copied into each coin at creation, so a later settings change only affects new launches. Reaching it means the curve sold out and says nothing about a coin's quality. See [how it works](https://baselaunch.app/how-it-works). ## Holders mode Holders mode is a creator fee option that sends a coin's creator side to its holders instead of to a wallet. At launch, baselaunch creates a holder rewards distributor for the coin, a contract with no owner, and sets it as the coin's fee recipient. A publisher key posts reward epochs weighted by balance and holding time, and each epoch can be claimed for 90 days before unclaimed amounts return to the distributor for later epochs. The creator cannot change this choice after launch, a holders coin has no buyback, and the protocol owner can redirect its fee recipient only after a 3-day notice. [Creator fees](https://baselaunch.app/creators) ## Launch interface A launch interface is the app a coin was created through, recorded on chain when the coin is created if that app has registered an interface. On baselaunch, the recorded interface earns 20% of the creator side on every trade of that coin. The creator side is the creator part of the base fee plus any creator fee. The share applies on the bonding curve and in the pool after graduation. It is fixed in the code, and the registry that stores it has no owner. A coin created on baselaunch.app has no launch interface, so its creator keeps that part. See [fees](https://baselaunch.app/fees). ## Launch tax A launch tax is an extra charge on buys made in the first seconds after a coin is created, meant to take the profit out of bots that buy a new coin the instant it appears. On baselaunch it is up to 98% in the launch second on a coin with no creator fee, and it halves again and again until it reaches zero within 3 seconds. Sells and transfers are never taxed, and the creator's wallet, the creator's fee wallet and up to 32 further wallets named at launch are exempt. The tax is not burned: it is split between the protocol and the creator side like the 1% base trading fee, without a referrer part. See [fees](https://baselaunch.app/fees) for the full split. ## Linear vesting Linear vesting is a schedule that releases locked tokens in equal amounts over a fixed period, so the unlocked share grows steadily from zero to all of them. On baselaunch it applies to coins bought back when a creator turns on buyback and lock. The buyback vault holds those coins and releases them in a straight line over 5 years, with the creator receiving 70% of each release and the protocol 30%. The vault keeps one vesting start per coin and moves it forward in proportion to each new deposit's size, so a new deposit never inherits the progress of older ones. [How buyback and lock works](https://baselaunch.app/creators) ## Liquidity locker A liquidity locker is a contract that holds a pool's liquidity position so that it cannot be withdrawn. On baselaunch, when a coin graduates, its full-range Uniswap v4 position goes to the liquidity locker, together with the 81,632,653 tokens locked at graduation that never circulate. The locker has no withdraw function, so no key, including the owner's, can take the liquidity out. Its owner can only wire it to the factory, which can be set once. Locked pool liquidity and the supply locked at graduation cannot be recovered. See the full list of owner powers on [security](https://baselaunch.app/security). ## Locked liquidity Locked liquidity is pool liquidity held by a contract that has no way to withdraw it. On baselaunch, when a coin graduates on an ETH pair, 4.2 ETH and 204,081,633 tokens open a full-range Uniswap v4 position. That position is held by the liquidity locker together with 81,632,653 tokens that never circulate. The locker has no withdraw function, so no key, including the creator's or the owner's, can take the liquidity out. It says nothing about a coin's quality or future price. It only means the pool's funds stay in the pool. [Security](https://baselaunch.app/security) ## Market cap A market cap is the value of a coin's whole supply at its current price, found by multiplying the price of one token by the number of tokens. On baselaunch every coin has a fixed supply of 1,000,000,000 tokens, minted once, so its market cap moves only with its price. Before graduation that price comes from the coin's bonding curve, and after graduation from its Uniswap v4 pool, always quoted in the coin's pair asset. Market caps shown on the site are estimates read from the chain and can lag behind it. A market cap describes a price at one moment and says nothing about where a coin's price will go. [How it works](https://baselaunch.app/how-it-works) ## Opening buy An opening buy is an optional purchase a creator makes in the same transaction that launches a coin, so the creator buys from the bonding curve before anyone else can. On baselaunch the creator's own wallet and fee wallet are exempt from the launch tax, so the opening buy pays none, though it still pays the 1% trading fee. On a fresh ETH-pair coin with no creator fee, a first buy of 1 ETH receives 370,786,517 tokens, about 37.1% of the supply. A creator can hold a large share from the opening buy and sell it at any time, so check it before you trade. [How it works](https://baselaunch.app/how-it-works) ## Pair asset A pair asset is the asset a coin is priced and traded against, chosen at launch and fixed for the life of the coin. On baselaunch it can be ETH, USDC, cbBTC or one of 8 tokenized stocks approved by the protocol owner. Buyers pay in the pair, sellers receive the pair, fees and creator earnings are paid in it, and the graduation target is counted in it: 4.2 ETH on an ETH pair or 8,090 USDC on a USDC pair. The launch fee is always 0.0005 ETH whatever the pair, and after graduation the Uniswap pool holds the coin against the same asset. See [how it works](https://baselaunch.app/how-it-works). ## Price impact Price impact is the change in a coin's price caused by a single trade, which makes a large order pay more per token on average than a small one. On baselaunch the bonding curve fills every trade itself and sets its price only by how many tokens it has sold, so every buy raises the price for the next one. This is not a fee; it is how any market with limited depth behaves. On a fresh ETH-pair coin, after the launch tax window and with no creator fee, a first buy of 0.1 ETH receives 55,649,241 tokens, while 1 ETH receives 370,786,517, far fewer than ten times as many. See the full table in the [docs](https://baselaunch.app/docs). ## Reward epoch A reward epoch is a published list of holders and amounts that says how a holders mode coin's distributor pays out its unallocated balance. On baselaunch, a publisher key posts each epoch with amounts weighted by balance and holding time, and commits it on chain as a Merkle root. Each epoch can be claimed for 90 days. Anyone may submit a claim, but it always pays the account the epoch names. Whatever is unclaimed after that window returns to the distributor and goes into later epochs. The publisher cannot allocate more than the unallocated balance and cannot touch an epoch that is already published and still claimable. [Creator fees](https://baselaunch.app/creators) ## Slippage and minimum output Slippage is the gap between the price a trade is quoted at and the average price it fills at, and a minimum output is the smallest amount a trade will accept before it is refused. On baselaunch, every buy on the bonding curve moves the price for the next one, so a larger order pays more per token on average. This is price impact, not a fee. A first buy of 1 ETH on a fresh ETH-pair coin receives 370,786,517 tokens and leaves the price at 0.000000004243 ETH. When a buy is clamped because it finishes the curve, your price limit still holds: it may receive fewer tokens than asked, never a worse price per token. More detail is in the [Docs](https://baselaunch.app/docs). ## Sniper bot A sniper bot is a program that tries to buy a new coin in the same instant it appears, before any person can react. On baselaunch, every buy in a coin's first 3 seconds pays a launch tax on top of the normal fees, to take the profit out of that race. The tax is up to 98% in the launch second on a coin with no creator fee, falls to 6.18% one second later, and keeps halving until it reaches zero. It applies to buys only and is split between the protocol and the creator side, not burned. The tax is a speed bump, not a guarantee: after the window, anyone can buy at the normal price, bots included. [How the launch tax works](https://baselaunch.app/docs) ## Timelock A timelock is a rule in a contract that makes a proposed change wait a fixed delay before anyone can carry it out. On baselaunch it applies to one owner power: redirecting a coin's creator fee recipient, and with it the coin's buyback vest. The owner proposes the new recipient, the proposal is announced on chain, and it can be executed only after a wait of 3 days. After the wait, anyone can execute it, and it expires if nobody does so within the allowed window. A transfer by the creator during the wait does not cancel it, so a stolen wallet cannot block a recovery. The owner can also cancel a pending change, which moves nothing. Every owner power is listed on [security](https://baselaunch.app/security). ## Tokenized stock A tokenized stock is a token issued by a third party that tracks a listed share. On baselaunch it is one of the pair assets a coin can be priced in, alongside ETH, USDC and cbBTC, with 8 to choose from, such as NVDAc and TSLAc. The pair is chosen at launch and fixed for the life of the coin: buyers pay in it, creator earnings arrive in it, and after graduation the pool holds the coin against it. baselaunch does not issue, back or redeem these tokens. They are not offered in some regions, including the United States and the United Kingdom. Whatever happens to the stock token happens to every coin priced in it. See the [docs](https://baselaunch.app/docs). ## Trade referrer A trade referrer is the address a trade was sent with, which earns a share of that trade's fee. On baselaunch, the referrer is paid 0.2% of the trade's volume. That share comes out of the protocol part of the base fee and never out of the creator side. It applies on the bonding curve and in the pool after graduation, but the launch tax has no referrer part. The share is fixed in the contracts, so no one can change it. The referrer is credited in the fee escrow in the trade itself and can claim the balance at any time. See [fees](https://baselaunch.app/fees). ## Uniswap v4 Uniswap v4 is the version of Uniswap whose pools a baselaunch coin trades in after it graduates from its bonding curve. On an ETH pair, when the last of the 714,285,714 sellable tokens is bought, 4.2 ETH and 204,081,633 tokens open a Uniswap v4 pool at the curve's final price. The pool charges no fee of its own. Instead, the protocol's pool hook takes the 1% trading fee and splits it by the same rules as on the curve. The pool's liquidity is a full-range position held by a liquidity locker that has no withdraw function, and the coin can be traded through baselaunch or any app that routes Uniswap v4. See [how it works](https://baselaunch.app/how-it-works). ## Uniswap v4 hook A Uniswap v4 hook is a contract attached to a Uniswap v4 pool that runs its own logic when the pool is traded. On baselaunch, a coin graduates into a pool that charges no fee of its own. The protocol's pool hook takes the 1% base trading fee instead and splits it by the same rules as on the bonding curve, so traders never pay a second pool fee on top. The coin's creator fee keeps applying. Part of the fee can be taken in the coin itself, and a sweep sells that part for the pair asset within a price impact cap of 3% by default, skipping the sale when it would move the price more. Each coin copies its fee terms at creation, so its rates never change while it trades. [How fees are split](https://baselaunch.app/fees) ## Virtual reserve A virtual reserve is an amount of the pair asset that a bonding curve counts as already held before any real buy, so a coin's price starts above zero. On baselaunch, an ETH-pair curve behaves as if it held 1.68 ETH from the start, which sets the opening price at 0.00000000168 ETH per token. This reserve is never paid out and cannot be withdrawn. Every pair has its own virtual reserve, and its graduation target is 2.5 times that amount. The pool a coin graduates into can only be funded with real money, so it receives just enough of the reserved tokens to open at the curve's final price, and the tokens left over are locked permanently. See the [docs](https://baselaunch.app/docs) for the full formula. ## Questions ### Do coin and token mean the same thing here? Yes. Coin and token mean the same thing on baselaunch: an ERC-20 on Base. ### Are the numbers on these pages current? Yes. Every number is read from the same source the rest of the site uses, so a change of a protocol setting updates every page. Every cost is on [fees](https://baselaunch.app/fees), and what the owner can and cannot do is on [security](https://baselaunch.app/security). Meme coins are highly speculative and most lose their value. Nothing here is financial advice. Last updated 2026-10-21 Canonical page: https://baselaunch.app/glossary