One public pool
The position begins with Meme tokens and zero commodity principal.
Liquidity range, locked principal & valuation
The launchpad deposits the fixed Meme supply into a single concentrated-liquidity position, apart from tiny rounding dust. The position begins entirely in Meme tokens, with zero commodity principal. V3’s liquidity math provides the opening price curve; no virtual cash or extra quote tokens are minted.
Buys exchange commodity coins for Meme inventory and build the pool’s commodity balance. Sells return Meme tokens to the pool and take commodity coins out. The price moves along that same pool’s curve.
The launchpad has no graduation or migration step. Its position NFT and principal have no withdrawal path; only earned LP fees can be collected.
The initial liquidity range is finite. At an endpoint, further trades in one direction can run out of available liquidity. Locked principal does not mean unlimited liquidity, a fixed Meme price or guaranteed redemption.
How market cap is calculated
Meme price in its paired commodity × the commodity’s accepted USD reference × total Meme supply. This is a fully diluted valuation. It can change with either the pool price or the commodity reference, and is not the cash available in the pool.