Terms of use

What this site is

Every figure here comes from one enumeration of the Pons launchpad on Robinhood Chain, taken at block 55,223,440 on 6 September 2026. Of 240,350 live bonding curves, 125,256 are quoted in ether and 115,094 — 47.89% of the live chain — are denominated in tokenised equity tokens that hold no pair against WETH or USDG on the canonical factory.

Alongside that sits a schedule: the haircuts, size bands and settlement terms a desk would quote against such a position. The measurement can be re-derived by anyone with an RPC endpoint; the schedule cannot, because it is not a fact about the chain but a position somebody is taking about risk.

Nothing here is an offer

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.

That sentence sits in the footer of every page, and it is the operative one. Nothing published here is an offer to buy or sell, an invitation to treat, a solicitation, a recommendation, or investment, legal, tax or accounting advice. The desk page computes a number from inputs a reader supplies. That is not a bid: nobody can accept it, because nobody is making it.

Reading this site creates no relationship

Reading these pages, or running the schedule against your own position, does not make anyone a client, a customer or a counterparty. No duty of care arises, no fiduciary duty arises, and no obligation to quote arises. A quote from a live desk would be firm for 90 seconds; that term is published so it is not read backwards onto anything here today, none of which is firm for any period at all.

The schedule will change, and the changelog dates it

The venue term for a position with no market is 420 basis points. The out-of-hours term is 202, being an assumed overnight sigma of 2.4% multiplied by a z of 0.84. The standard size band adds 35 and the desk’s own fee is 25, so a stranded position of that size, quoted out of hours on a curve early enough to carry no curve term, is 682 basis points all in. Every one is arguable, which is why each is published under its own name rather than inside a single spread.

When one changes, the change is dated in the changelog and the previous value stays visible there. A figure read on one day is not a commitment on any other.

The figures carry a block, not a warranty

Every measurement here is true as of block 55,223,440 and no later. Curves launch, drain and graduate continuously, so the population counted was already changing as it was counted. The site does not poll, and nothing on it should be read as live.

The census behind those figures is also unfinished, and the site says so rather than filling the gap: of the 115,094 stranded curves, one quote asset has been confirmed by direct call — AMC Entertainment · Robinhood Token — and the run naming the rest is scheduled for 2026-09-14. The site is provided as it stands. No warranty, express or implied, is given as to accuracy, completeness or fitness for any purpose, and none is given that a figure remains true after the block it was taken at.

Re-derivation is the reader’s job

The RPC endpoint (https://rpc.mainnet.chain.robinhood.com), the factory address (0x7eD598BcEf8bd9Edd8C97A195C6d13f40801EC7e) and the constant product that fingerprints an ether-quoted curve — k = 1.68 × 1,000,000,000 — are published so the enumeration can be run again against the same block by somebody who does not take this site’s word for it; the methodology page describes how. Anyone acting on a figure here without re-deriving it is acting on their own judgement about somebody else’s arithmetic — reasonable, where the arithmetic is shown, but not something this site asks for.

Governing law is deliberately not stated

A terms page normally closes by naming a governing law and a forum. This one does not, and the omission is a decision rather than an oversight. Naming a jurisdiction is an assertion about a legal entity: where it is formed, where it can be sued, whose consumer protection law it answers to. No entity is described anywhere on this site. There is no company name, no registered address, no registration number and no regulator on any page here, because there is nothing accurate to put in those fields yet.

Inventing one so this page could end in the usual way would make its closing paragraph the least trustworthy thing on a site whose whole claim is that its statements can be checked. So the honest position is stated instead: this is a published document, not a contract, and it is not offered as one. If an entity is ever formed it will be named here, dated in the changelog like every other change.

The site may change or stop

No undertaking is given that this site stays available, that any URL keeps resolving, or that a figure published today survives tomorrow. If you need a number to last, take it at its block and keep it yourself.