Dividend memecoins backed by real tokenized stocks.

alloy.fund · @AlloyRH · Launchpad

Alloy is a launchpad on Robinhood Chain for a token type that did not previously exist: a memecoin that pays its holders in real equity.

Every coin launched on Alloy is bound at deploy time to one real, Robinhood-issued tokenized stock. Every trade against that coin pays a 1% pool fee. A permissionless keeper converts those fees into the backing stock and distributes it to holders pro-rata. Holding the coin passively accrues real NVDA, TSLA, or AAPL, claimable to your wallet at any time.

There is no oracle, no custodian, no off-chain accounting, and no admin key over user funds. The distribution is an on-chain invariant.

hold coin -> coin trades -> 1% fee -> buys real stock -> drips to holders -> claim to wallet

flowchart LR
    A[Creator] -->|launch| B[AlloyLaunchpad]
    B -->|deploy fixed 1B supply| C[AlloyMeme ERC-20]
    B -->|seed single-sided| D[Uniswap V3 Pool<br/>COIN / USDG · 1%]
    B -->|LP NFT locked forever| B
    E[Traders] <-->|buy / sell| D
    D -->|accrued fees| F[sweep · permissionless]
    F -->|70%| G[buy backing stock]
    F -->|20%| H[creator]
    F -->|10%| I[buy back $ALLOY]
    G -->|distribute| C
    C -->|claim| J[Holder wallet<br/>real stock]

launch() performs the entire lifecycle in a single transaction:

1. Deploys an AlloyMeme ERC-20 via CREATE2 with a fixed 1,000,000,000 supply and no mint function.
2. Opens a Uniswap V3 pool against USDG at the 1% fee tier.
3. Seeds the entire supply as single-sided liquidity above spot, so the pool opens holding only the coin.
4. Retains the LP position permanently. The position is never transferable out — liquidity cannot be pulled.
5. Excludes the pool, the launchpad, and the burn address from dividend accounting, so drips only ever reach real holders.

The launch price is deterministic. The pool is initialised at a precomputed sqrtPriceX96 derived from startTick = 398400, which on an 18-decimal coin against 6-decimal USDG yields an opening fully-diluted valuation of approximately $5,000.

$$P_{\text{launch}} = 1.0001^{-398400} \times 10^{18-6} \approx 5.0 \times 10^{-6}\ \text{USDG}$$

sweep(token) is permissionless and can be called by anyone:

1. Collects accrued fees from the locked LP position (both sides).
2. Sells the coin-denominated side into USDG so all routing happens in dollars.
3. Splits the USDG per the fee schedule below.
4. Buys the backing stock with the drip share and credits it to holders.

Configurable by the owner via setFeeSplit, constrained to sum to exactly 10_000.

AlloyMeme implements a magnified per-share accumulator, a well-understood pattern for constant-time pro-rata distribution regardless of holder count. Distribution is O(1); there is no iteration over holders and therefore no gas ceiling on the holder set.

Let $S$ be the eligible supply (total supply minus excluded balances) and $A$ the reward amount being distributed:

$$\text{magPerShare} \mathrel{+}= \left\lfloor \frac{A \cdot 2^{128}}{S} \right\rfloor$$

Each account's lifetime entitlement is its balance scaled by the accumulator, corrected for balance changes that occurred at different accumulator values:

$$\text{accrued}(a) = \left\lfloor \frac{\text{magPerShare} \cdot \text{balance}(a) + \text{corrections}(a)}{2^{128}} \right\rfloor$$

$$\text{claimable}(a) = \text{accrued}(a) - \text{withdrawn}(a)$$

On every transfer of value $v$, corrections are adjusted so that historical entitlement is preserved:

from:  corrections[from] += magPerShare * v      (balance fell)
to:    corrections[to]   -= magPerShare * v      (balance rose)

The $2^{128}$ magnitude preserves precision for dust-sized distributions against a 1e27-wei eligible supply, and the accumulator cannot realistically overflow a uint256.

Addresses excluded from dividends (the AMM pool, the launchpad, the burn address) are removed from eligibleSupply. Without this, the pool — which holds most of the supply at launch — would absorb the majority of every drip and strand it permanently. Exclusions are only settable by the factory and only while magPerShare == 0, so no accrued balance can ever be confiscated.

$ALLOY captures fees from every coin on the launchpad.

flowchart LR
    A[coins launch] --> B[trades pay 1% fee]
    B --> C[10% buys back $ALLOY]
    C --> D[$ALLOY holders:<br/>boosted drips · free launches]
    D --> A

Robinhood Chain — chain ID 4663.

All protocol contracts are verified on Blockscout.

• sweep() routes swaps with amountOutMinimum = 0. Amounts are fee-sized, but this is MEV-exposed by construction; the alternative is a stale on-chain price oracle for an asset with intentionally thin liquidity.
• Only tokenized stocks with a live USDG pool can back a coin. The interface enforces this at launch time.
• Drips accrue only to non-excluded holders. Coins held inside another contract that does not forward claims will accrue to that contract.

contracts/
  AlloyMeme.sol            dividend-paying ERC-20; magnified per-share accounting
  AlloyLaunchpad.sol       launch, single-sided seeding, LP lock, fee sweep
  interfaces/IUniswap.sol  minimal Uniswap V3 surface consumed by the protocol
docs/
  architecture.md          system design and control flow
  mechanism.md             distribution math and launch pricing derivation
  security.md              invariants, threat model, trade-offs
abis/                      ABIs for integrators

A Uniswap-standard token list of every launched coin is served at:

https://alloy.fund/tokenlist.json

Per-coin metadata and logos:

https://alloy.fund/api/token/{address}
https://alloy.fund/api/logo/{address}

npm install
npx hardhat compile
npx hardhat test

Solidity 0.8.26, optimizer enabled (200 runs), viaIR. The launch path builds its Uniswap mint parameters into a memory struct with straight-line assignment rather than nested ternaries; the IR pipeline's stack scheduler will not otherwise resolve the function.

MIT