01Overview
Veyrinpad launches coins on BNB Chain through Flap. Each coin gets a vault of its own, filled by the coin’s trading tax, and an agent that buys the coin back and burns it, within limits the vault’s contract enforces. Each of the agent’s decisions is kept as a record, and every buyback carries its record’s digest on chain.
- Chain
- BNB Chain
- Tax
- 1%, 2% or 3%
- The agent wakes
- Every 15 minutes
- Burned at
- 0x…dEaD
02Launch
One transaction from the creator’s own wallet to Flap’s Portal launches the coin. Before it, the site uploads the image and the listing to Flap and mines a salt that puts the token at an address ending in 7777.
The tax is the same on buys and sells and is chosen at launch: 1%, 2% or 3%, 2% by default. The transaction names the coin’s vault as the receiver of the tax, at an address fixed before the vault exists, and can carry a first buy.
03Where the tax goes
Every buy and sell pays the tax to the coin’s tax processor, a Flap contract. When it pays out, Flap takes its protocol share, the platform’s fee receiver gets a commission, and the rest goes to the coin’s vault. Anyone can set the payout going.
| Tax | 1% | 2% | 3% |
|---|---|---|---|
| Flap’s protocol share | up to 0.3% of the volume | ||
| Platform commission, of the tax after Flap’s share | 6% | 3% | 2% |
| The coin’s vault | the rest | ||
Flap’s protocol sets the commission from the tax rate, so it comes to at most 0.06% of the volume at every rate. The vault itself keeps no share for the platform.
04The vault
A vault is a small contract, one per coin: a clone of one implementation, deployed by the factory and not upgradeable. Its address follows from the coin, the creator, the creator share and the mode, so anyone can deploy it after the launch, and it deploys only where the coin’s tax actually goes.
Accounting
BNB that reaches the vault is counted by balance. A creator share, when a coin has one, is set aside for the creator to claim; the launch form sets none, and the contracts allow 5%, 10% or 20%. The rest is the treasury the agent spends.
Buyback and burn
A buyback spends treasury BNB on the coin through Flap’s Portal: on the bonding curve, or on PancakeSwap once the coin has graduated. Inside the same call the vault takes the Portal’s own quote and sets the minimum output 0.01% below it, so no caller names a price, a route or a token. What it buys goes to 0x…dEaD in the same transaction.
Limits
The contract checks every buyback against the vault’s policy: the default of the coin’s tax tier, set when the vault is deployed. A buyback is at least 0.001 BNB.
| Tax | 1% | 2% | 3% |
|---|---|---|---|
| Per buyback | 0.03 BNB | 0.05 BNB | 0.05 BNB |
| Per UTC day | 0.5 BNB | 0.5 BNB | 0.5 BNB |
| Cooldown | 15 min | 15 min | 15 min |
| Price impact | 0.5% | 1% | 1% |
| Reserve kept | 0 BNB | 0 BNB | 0 BNB |
Modes
AUTO: the agent buys back; launches here start in AUTO. MANUAL and SIM: the tax builds up in the vault and nothing is bought.
05The agent
An off-chain runtime wakes every 15 minutes. For each vault in AUTO it reads the treasury and the limits, the coin’s price and the depth of its market, and its own recent buybacks, then asks a language model to choose between buying back and holding. The amount is cut to what the limits allow at that moment, and the call is simulated before it is sent.
Each decision is kept as a record: the action, the amount, the reason and the thought. Its keccak256 digest goes on chain with every buyback, in the BuybackBurned event, and with a hold at most once every 6 hours for each vault, in a Thought note, so anyone can hold a record against the chain. Each coin’s page lists its records.
06Roles
- Creator
- Launches the coin from their own wallet and chooses its name, image, tax and first buy. The creator can name the address a creator share is paid to.
- Agent
- The runtime’s operator key. It can buy back within the vault’s limits, and everything it buys is burned in the same transaction; it can also write a note to the thought log.
- Anyone
- Can deploy a coin’s vault, dispatch the coin’s tax to it, pay a creator share out to the creator, and burn stray tokens of the coin that reach the vault.
- Platform
- The factory is owned by the dev wallet of the platform. It sets the operator keys of the agent and the fee receiver, and can hand the factory to a new owner in two steps. The platform’s dev wallet can withdraw any vault’s BNB (except creator payouts not yet claimed) and any token at any time.
07Fees
| Launching | The network fee of one transaction, and the first buy if there is one. No platform fee. |
|---|---|
| Tax | 1%, 2% or 3% of every buy and sell: Flap’s protocol share, the platform’s commission and the coin’s vault, as above. |
| Flap’s curve rate | 1% of every trade on the bonding curve, to Flap, until the coin graduates. |
| PancakeSwap | 0.25% of every trade on the pool after graduation. |
| Buybacks | A buyback is a trade like any other and pays the same. The agent’s gas is paid by its operator key. |
08Risks
- Smart contracts can contain flaws. A coin also depends on contracts and services run by others: Flap’s Portal and tax processor, PancakeSwap and BNB Chain.
- A memecoin can lose all of its value. Buybacks do not hold up a price.
- The agent’s choices come from a language model working within the limits, and they can be poor ones.
- Off-chain parts (this site, the agent’s runtime, Flap’s upload service and gateway) can stop. Trading goes on without them; buybacks wait for the runtime.
09Contracts
| Factory | – |
|---|---|
| Vault implementation | – |
| Factory owner | – |
| Fee receiver | – |
| Flap Portal | 0xe2cE6ab80874Fa9Fa2aAE65D277Dd6B8e65C9De0 |
| Burn address | 0x000000000000000000000000000000000000dEaD |