Arcfun: a stablecoin-native launchpad on Arc

Arcfun is a permissionless launchpad for fungible tokens built on Arc, Circle's purpose-built Layer-1 blockchain where USDC is the native gas asset and settlement is deterministic and sub-second. Every token launches against a constant-product bonding curve denominated in USDC. Price discovery is fully on-chain and continuous; there is no presale, no team allocation, and no privileged minting. When a curve raises $7,200.00, it migrates atomically to a decentralized exchange, seeding $7,000.00 of permanent, burned liquidity.

Existing launchpads inherit the volatility of their host chain's gas token: fees swing with market conditions and every position carries implicit exposure to a non-stable asset. Arc removes that variable. Because gas, balances, and the quote asset are all USDC, a launch on Arcfun is denominated in a single, stable unit of account end to end — making market caps, fees, and PnL legible without a mental FX conversion.

Arcfun uses a constant-product curve, x · y = k, with virtual reserves — the same primitive that powers the most widely used launchpads, adapted to a USDC quote. Each token has a fixed supply of 1,000,000,000 units. 72% of supply is sold through the curve and 28% is reserved to seed DEX liquidity at migration.

The virtual reserves are calibrated so the implied fully-diluted market cap begins at $4,000.00 and reaches $25,000.00 exactly as the curve collects $7,200.00 of net USDC. The final purchase is partially filled so that the raise target and the curve's token allocation are exhausted at the same instant — the curve can never oversell its 72% allocation, and migration is deterministic.

A flat 1% fee applies to every buy and sell, split evenly: 0.5% to the token creator and 0.5% to the protocol treasury. Fees are charged identically before and after migration, so creators continue to earn from their token's secondary volume. On buys the fee is taken from the USDC input; on sells it is taken from the USDC output. Accrued fees are tracked separately from curve reserves and are claimable at any time.

When the curve's collected USDC reaches $7,200.00, migration triggers automatically inside the same transaction as the final buy. The protocol:

1. opens a Uniswap V4 pool (token/USDC) at exactly the curve's closing price and seeds a full-range position with $7,000.00 and the reserved 28% token allocation;
2. locks the liquidity permanently — the position is owned by the curve, which has no code path to ever withdraw it;
3. attaches a fee hook that keeps charging the same 1% (0.5% creator + 0.5% treasury) on every swap, so creators keep earning after graduation;
4. closes the curve — all further trading happens on the open Uniswap V4 market.

Graduating on Uniswap V4 means the deepest, most widely integrated liquidity venue from day one, and the fee hook lets the launchpad earn its share from the very first post-graduation trade.

The token and curve are deployed together in a single transaction; the full token supply is minted directly to the curve, which means no party — including the deployer — can mint or withhold supply. An optional createTokenAndBuy path lets a creator make the first purchase atomically at launch. Each launch also accepts an optional fee-recipient wallet; the launch wallet stays the fee owner and can change or clear it at any time.

• Fixed supply, no mint authority after creation.
• Reentrancy guards on all state-changing curve and factory entry points.
• Liquidity is burned at migration — it cannot be pulled.
• Deterministic finality on Arc removes reorg risk from indexing and settlement.
• Slippage bounds (minTokensOut / minUsdcOut) on every trade.

Arcfun is live on Arc mainnet — the factory, fee hook, swap router and quoter are deployed and source-verified, creator profiles carry X / Telegram links and on-chain fee management, and every token page shows live holder distribution. Subsequent work targets creator analytics, a richer agent/automation surface using Arc's ERC-8004/8183 primitives, and optional confidential launches when Arc's privacy layer ships.