NOBID00The book
The book
Every figure this desk publishes was taken in one pass over the Pons launchpad on Robinhood Chain at block 55,223,440, on 2026-09-06. Nothing below is sampled, modelled or averaged across heights. One block, one factory, and the arithmetic written out beside each line, so that anyone with an endpoint can take the survey again and disagree with it in public.
- Chain
- Robinhood Chain · 4663
- Block
- 55,223,440
- Taken
- 2026-09-06
The book is published. The desk is not open: Nobid is not quoting, holding client assets, or accepting orders. Nothing on this site is an offer, a solicitation, or investment advice.
01The population
Every curve the factory has recorded, split once
The split that matters here is not large against small, or new against old. It is whether a curve’s quote asset can be sold for ether. On one side of that line there is a pair on the canonical factory and this desk is unnecessary. On the other there is no venue at all.
| Line | Figure | How it was derived |
|---|---|---|
| Launches | 244,487 | Every launch the Pons factory has recorded, read from the factory itself at block 55,223,440 rather than from an index’s view of it. Retired curves included. |
| Alive | 240,350 | Of those, the curves still holding a reserve at the same height. A curve with no reserve is not a venue, so it is counted separately. |
| Retired | 4,137 | 244,487 − 240,350. Graduated to a V3 pool or drained to nothing; the survey does not separate the two, because in both cases the curve has stopped being the place the token trades. |
| Ether-quoted | 125,256 | Selected across the live population by the constant product k = 1,680,000,000, then confirmed by direct isNativeQuote() calls on the shortlist. The two methods agreed. Section 02. |
| No route to ether | 115,094 | 240,350 − 125,256. Each of these prices in a tokenised Robinhood equity token that holds no pair against WETH or USDG on the canonical factory, so its holder cannot reach ether at any price. |
| Share of the chain | 47.89% | 115,094 ÷ 240,350, at the same height. The only ratio on this page; every other line is a count. |
The share is rounded to two places for display; every other line is an integer count. The three lines that are derived rather than counted — retired, no route to ether, and the share — carry the arithmetic that produced them in the same row, so that no reader has to take the middle step on trust.
02The fingerprint
One constant identifies the whole ether-quoted population
Every Pons curve opens with a virtual quote reserve and sells against a fixed supply, so the product k = V × S is one number for every curve denominated in the same asset, and a different number for curves denominated in something else. The ether-quoted curves carry k = 1,680,000,000: 1.68e9, exactly. Comparing that one constant across the live population separates them from the rest.
That is what made the survey affordable on a public endpoint. Classifying 240,350 curves by a quoteToken() call each is a run that gets rate-limited long before it finishes; comparing a constant is free. The fingerprint held to five significant figures for all 125,256 curves it selected, and the shortlist was then confirmed the slow way, by direct call, to check the method against itself. The two agreed.
| Constant | Value | What it is |
|---|---|---|
| V — virtual quote reserve | 1.68 | The reserve every curve opens with, expressed in units of its own quote asset — which is the whole difficulty. |
| G — graduation raise | 4.2 | The raise, in the same units, at which the curve stops and the position becomes a V3 pool instead. |
| S — supply | 1,000,000,000 | Tokens sold along the curve. Fixed, and identical across launches. |
| k = V × S | 1,680,000,000 | Identical for every curve denominated in the same asset. This is the fingerprint. |
| Sold at graduation = 1 − V/(V+G) | 71.43% | 1 − 1.68 / (1.68 + 4.2) = 0.714285…, so a curve graduates with under three tenths of its supply unsold. |
V and G are stated in units of the quote asset and not in ether, because for 115,094 of these curves the quote asset is not ether. The fingerprint tells you which population a curve belongs to. It does not tell you what the other population is denominated in — that is section 04, and it is not done.
03The misreading
The deepest curve on the chain is read in the wrong unit
The deepest curve on Robinhood Chain prices its coin in AMC Entertainment · Robinhood Token and reports a reserve of 1,625. Read as though that reserve were ether — which is what every index, screener and wallet on this chain does — it is a market capitalisation of $3,996,184.
It is 1,625 AMC. The error is not in the number; the number is read correctly off the contract. The error is in the unit, and it survives every downstream system that copies the figure without the denomination attached to it.
The arithmetic, as performed by a screener
- Reserve, as reported
- 1,625
- × assumed unit, USD per ETH
- 2,459.19
- = printed market value
- $3,996,184
- Actual denomination
- 1,625 AMC
The reference is 2,459.19 USD per ether, stated in the book so the dollar figure can be re-derived rather than believed, and rounded to the dollar for display here. No price feed runs on this site.
AMC holds no pair against WETH or USDG on the canonical factory, so the holder of that curve cannot convert the reserve into ether at any price. A market capitalisation is a price multiplied by a supply; where there is no venue there is no price, and the product is not a smaller number but a different kind of statement.
04Coverage
What is not measured
The aggregate split is measured and is stated above. The per-asset breakdown is not measured, and this page will not print a plausible one. 115,094 curves are known to price in something that is not ether; which equity token each of them prices in is a different question, and it has not been answered yet.
What it would take
One quoteToken() read for every curve in the stranded population — 115,094 calls — against a public endpoint that rate-limits by IP. That is a separate run with its own pacing and its own failure modes, not a column that could have been added to the pass that produced the table above. It is scheduled for 2026-09-14. Until it lands and can be published with its own block height, the only quote asset named anywhere on this site is the one confirmed by direct call: AMC.
| Item | State | Detail |
|---|---|---|
| Population split | Measured | Enumerated at block 55,223,440 on 2026-09-06. Section 01. |
| Curve constants | Measured | Recovered by arithmetic and cross-checked against the shortlist. Section 02. |
| Quote asset, per curve | Not measured | A quoteToken() read for each of the 115,094. Scheduled 2026-09-14. |
| Quote assets named on this site | AMC | The only ones confirmed by direct call. Nothing else is named anywhere on this site. |
| Volume, holders, curve age | Not measured | Not in this survey, and therefore not stated. There is no placeholder for them. |
Anything absent from that table is absent from the survey. A breakdown by ticker published before the run is done would be the fastest way to lose the only reader who matters, and it would be indistinguishable, on the page, from one that had been measured.
05The clock
A hundred and sixty-eight hours against thirty-two and a half
A curve on this chain has no session. It quotes every second of the week, including the ones in which the equity it is denominated in cannot be traded by anybody at any venue. That gap is not an inconvenience around the edges of the business; for most of the week it is the business.
The 32.5 hours is the unadjusted regular session. The published exchange calendar for 2026 carries 10 full closures and 2 half sessions, so the true open share across a year is lower than the figure above rather than higher. The clock above this note is computed from the reader’s own machine against that calendar, which is why it is the one thing on this page that is not fixed to a block. What the desk proposes to charge for the gap is a position rather than a measurement, and it is published separately in how a bid is formed.
06Reproduce this
Take the survey again
The figures above are worth exactly what it costs to check them, which is one endpoint and an afternoon. The shape of the enumeration is below. It is written as steps rather than as a script because the run that produced this book was paced by hand against a public node, and a copy-and-paste command that gets somebody rate-limited on their first attempt is worse than no command at all.
Robinhood Chain · chain 4663 · Pons launchpad
Every read below is pinned to block 55,223,440. A survey taken across
moving blocks is not a survey; it is an average nobody agreed to.
rpc https://rpc.mainnet.chain.robinhood.com
factory 0x7eD598BcEf8bd9Edd8C97A195C6d13f40801EC7e
reference 2459.19 USD/ETH, stated, not fetched
1 Pin the height, then page the factory’s launch log from its first block up to
and including 55,223,440. The topic for the launch event is not
printed here: it is not in this site’s book, and this page states nothing it
did not measure. Take it from the factory’s ABI on the explorer.
2 Count what comes back. 244,487
3 Read each curve’s reserve at the pinned height.
non-zero -> alive 240,350
zero -> retired 4,137
4 Classify the quote asset by arithmetic, not by a call per curve. For each live
curve compute k = virtual reserve x supply and compare with V x S:
1.68 x 1,000,000,000 = 1,680,000,000
matches -> ether-quoted 125,256
does not -> equity-quoted, no route out 115,094
5 Confirm the shortlist the slow way, with isNativeQuote(), and diff the two
lists. They agreed to five significant figures on k, and exactly on the call.
6 Stop. Which equity token each of the 115,094 prices in is a separate
run and is not in this survey — section 04 says what it would cost.The launch event’s topic hash is not printed above because it is not in this site’s book. Every identifier and every figure on this page came out of the survey. A plausible-looking hash typed in to make a code block feel finished is precisely the line a reader would check first, and the only one here that would not survive it.