How it works
Stonks Exchange is a launchpad whose quote asset is a share, not a coin.
The launch
- 01 — Deploy
A fixed-supply ERC-20 is deployed: one billion tokens, 18 decimals, no mint, no pause, no blacklist, no owner. Deliberately the opposite of the equity it trades against — the quote side is issuer-controlled by design, the coin side is ungoverned by construction.
- 02 — Open
The whole supply is placed as ONE single-sided Uniswap V3 position on the 1% tier, spanning from the launch tick to the edge of the range. The pool opens holding 100% coin and 0% stock. Buyers walk the price up as they buy — real price discovery, no bonding curve.
- 03 — Lock
The LP position NFT goes straight to a fee locker whose code has no
decreaseLiquidity, noburn, no NFT transfer and no approval path, and whose upgrade function reverts unconditionally for everyone — the owner included. The principal cannot leave. Only swap fees can ever be collected.
Fees on every trade
Each 1% swap fee splits two ways: 0.7% to the creator and 0.3% to the platform. Anyone can crank collection permissionlessly, and funds can only ever move to those two places. Creators choose where their share lands — at launch, or any time after — without ever handing over control of the coin.
Launch before the market
Because launch liquidity is entirely coin, a coin can be launched against an equity that has no circulating supply and no pool of its own. Most of Base's equities are still at zero supply — see the stocks page.
Why stock splits are safe here
This is the question that decides whether the whole idea works. Base represents a corporate action — a split, a reinvested dividend — by moving a B20 Asset's multiplier. If that were a rebase, a Uniswap V3 pool holding the equity would silently drift out of step with its own accounting, and every launch would need a wrapper token.
It is not a rebase. Under ERC-8056 the multiplier is cosmetic: it rescales the balance a holder is shown without minting, transferring, or rewriting any raw balance, and B20 tells integrators to treat raw amounts as canonical. The ERC-20 surface — balanceOf, transfer, totalSupply — is non-rebasing.
So a 2:1 split doubles the share count on your screen and moves nothing in the pool: same raw reserves, same price, same liquidity, same swap output. That is asserted directly in the test suite, by executing a real split against a real pool.
What can still go wrong
- Transfers are policy-gated. Every B20 maps its sender/receiver/executor scopes to a policy in Base's registry. Today all of Base's equities use one blocklist, so arbitrary addresses — including Uniswap pools — are authorized. An issuer could in principle repoint a scope at an allowlist, which would freeze trading for any pool not on it. That is the issuer's power, not ours, and it is worth understanding before you launch.
- Buying with ETH needs a route. A coin quoted in an equity is bought with that equity. Paying in ETH requires an ETH↔equity pool to exist on Base; none does yet. Coins quoted in WETH are buyable with ETH today, and equity-quoted coins start working the moment those pools appear — nothing needs redeploying.
- These are memecoins. A launched coin is not a security, not a claim on any company, and not connected to the issuer whose ticker it is priced against. Liquidity being locked is not a promise that a price goes up.