FAQ¶
The questions worth a straight answer, including the ones with uncomfortable answers.
The token¶
Is the token backed by the NFTs?
No. It is fed by them, never backed by them. There is no redemption and no claim: the pieces belong to the strategy. A strategy can hold a large treasury while its token trades below it, and nothing is broken. A holder gets the buying and burning the pieces pay for, not a share of them.
Can I send the token to another wallet?
No. The token moves through its own curve or pool, to the dead address, and through the few addresses a strategy needs to work. That rule is what makes the fees impossible to route around. It also rules out hardware wallets, lending, bridges and exchange listings. See The token.
What sets the price?
The curve before graduation, the pool after, and nothing else. Every buy moves it up, every sell moves it down. The pool opens at exactly the price the curve closed at. There is no oracle, no peg, and no link between the price and the treasury.
What does a burn do?
A sale from the shelf buys the token on its own pool and sends what it buys to the dead address. Holders feel it as buying in the pool. Burns run in spaced passes, so a large sale arrives as steady buying.
Collections¶
Will a strategy raise my floor?
Not by itself, and anyone promising that is guessing. A strategy adds a bid that was not there before, fed by trading on its token, and it never sells a piece below what it paid. The floor is still set by the market.
What if the floor falls under the shelf price?
Pieces stay on the shelf and nothing burns while they wait. Sweep can lower the markup so they sell again. A markup left too high through a falling market is the one thing that quietly stops the loop.
Do my holders get anything directly?
Not from the strategy. Whoever launched it receives the royalty — 2% of every trade on the curve, 1% of every trade in the pool — and decides what happens to it. When the launcher is the collection's own owner, the strategy carries a verified badge.
Can a collection have 2 strategies?
Yes, as many as people launch. They bid against each other on the same floor, which is the cost of nobody being locked out of a collection. The verified badge is how you tell the collection's own strategy from the rest.
The curve¶
Why hasn't my strategy started sweeping?
It is still on its curve. Every strategy starts on its own bonding curve and graduates into its Uniswap pool once buyers have put 4.2 ETH into it. Until then there is no pool, no treasury and no bid, so nothing is bought. The royalty is paid from the first trade on the curve all the same. The app shows each strategy's phase and how close it is to 4.2 ETH. Most launches never graduate; a strategy that does not stays on its curve, tradable, for good. See The curve.
What is the snipe tax?
An extra tax on buys in the first five seconds after a launch. In the launch's first second, the tax and the fees together take 99% of a buy; in the next second the tax is about 25%, in the one after about 3%, and from the fifth second on it is nothing. It exists to make a bot's buy in the first seconds a losing trade, and it does nothing more than that: a buyer who waits five seconds pays the ordinary 3%. It goes to Sweep. The wallet that launched the strategy and the strategy's royalty recipient are exempt, and nobody else. Sells never pay it.
What happens at graduation?
The buy that brings the curve to 4.2 ETH closes it. Then anyone — usually Sweep's keeper — opens the pool: all of the curve's ETH and about 20.4% of the supply go into it, at the exact price the curve closed at, and the liquidity goes to the dead address. About 8.16% of the supply is burnt in the same transaction. Until the pool opens, the token cannot trade.
Can anyone take the ETH on a curve?
No. The curve has no owner and no settings. Its ETH leaves only into the pool, at graduation, in the same transaction that opens it. If opening the pool ever failed, everything would stay on the curve, whole, for anyone to try again. Sweep has no way to reach it.
Fees and launching¶
Can the fee be changed or removed?
No. The pool's hook charges it, and a v4 pool is identified by the hook it names. There is no version of the pool without the fee, and nobody who could make one. The curve's 3% is written into the curve the same way.
Can someone snipe the launch?
They can try, and in the launch's first second they keep about 1% of what they spend: the rest goes to the fees and the snipe tax. Three seconds later the tax is gone and everyone pays the same 3%. After that, the curve's price rises with every buy, so earlier buyers pay less per token than later ones. That is how a curve works, and it is the same deal for anyone who shows up.
Who runs the purchases, burns and airdrops?
Anyone. A purchase is run by the seller, who wants the ETH. A burn pays whoever runs it 0.5%. Sweep's keeper runs burns and airdrops too, so they happen on time, but nothing depends on it alone.
What can Sweep change on a strategy?
The bid pace and ceiling, within the launch limits: raising either is capped at double its current value and at once every 7 days, while lowering is free. The markup. How fast the burn queue drains. The router a burn or an airdrop buys through, but only to a router Sweep's launch contract already lists. The minimum an airdrop waits for. And which addresses may move the token outside its curve and pool.
Sweep cannot change the curve, its fees or its 4.2 ETH line, cannot reach the ETH a curve holds, and cannot change the pool, the fee, the supply, the name or the ticker. It cannot pull the liquidity, and it cannot stop trading: Sweep's own routers can never be removed.
What does it cost to launch?
The launch fee, paid once, plus gas. The launch form shows the fee before you sign.
Risk¶
What are the risks?
The token is volatile and a market sets its price. The contracts are new. What a strategy holds is only worth what someone will pay for it, and it is not yours either way. The machine is built to be predictable, not to be safe.
Do not put in more than you can afford to lose.