3 posts tagged with "launchpad"

From the outside, a token launch is a form: name, symbol, supply, logo, submit. From the inside, it is a sequence of on-chain steps that all have to succeed, in order, with real gas spent at each one — and every step exists because of a specific way launches go wrong without it.

BT365 runs a token launchpad on HyperEVM (Hyperliquid's EVM chain, ID 999). This is what our launch pipeline actually does between "submit" and "your token is trading," step by step.

There is a small paradox at the bottom of every launchpad: a token that did not exist an hour ago is trading, right now, against real money — and nobody funded the pool. No treasury seeded it, no market maker was hired, and the creator didn't deposit a cent of the quote asset.

The mechanism that makes this work is single-sided concentrated liquidity, and it is genuinely elegant. It also has one failure mode subtle enough that you can write a plausible-looking launchpad that strands tokens permanently, and the difference between the two is a single rounding decision. BT365's launchpad mints these positions on HyperEVM; both the elegance and the trap below are from that implementation.

Every launchpad has a moment where it asks for money before doing anything, and it reads as a toll booth. Sometimes it is one. But there is a version of that deposit which is not a fee at all, and the difference is worth understanding before you pay either kind.

On BT365's HyperEVM launchpad the deposit is a gas escrow: 0.1 HYPE, sent by the creator to the launch wallet before the launch may start, measured against actual spend afterward, remainder returned. This article is the reasoning behind each of those clauses — which is really a tour of the ways prepaid gas can go wrong.