giwagmi: a native-ETH launchpad on GIWA

giwagmi is a permissionless launchpad for fungible tokens built on GIWA Sepolia, an Ethereum layer-2 where the native gas and quote asset is ETH. Every token launches against a constant-product bonding curve denominated in native ETH. Price discovery is fully on-chain and continuous; there is no presale, no team allocation, and no privileged minting. When a curve raises 3.6 ETH, it migrates atomically to a Uniswap V4 pool, seeding 3.5 ETH of permanent, locked liquidity at exactly the curve's closing price.

Launchpad tokens should trade against the asset their holders already reason in. On GIWA that asset is ETH: it is the gas token, the wallet balance and the unit every trader quotes. giwagmi prices launches directly in native ETH end to end — no wrapper, no stablecoin intermediary, and no extra approval on a buy — so a market cap in ETH is exactly the ETH it would take to own the float.

giwagmi uses a constant-product curve, x · y = k, with virtual reserves — the same primitive that powers the most widely used launchpads, adapted to a native-ETH 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 2 ETH and reaches 12.5 ETH exactly as the curve collects 3.6 ETH of net ETH. 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 ETH input; on sells it is taken from the ETH output. Accrued fees are tracked separately from curve reserves and are claimable at any time.

When the curve's collected ETH reaches 3.6 ETH, migration triggers automatically inside the same transaction as the final buy. The protocol:

1. opens a Uniswap V4 pool (ETH/token, with native ETH as currency0) at exactly the curve's closing price and seeds a full-range position with 3.5 ETH and the reserved 28% token allocation. Because 280M tokens against 3.5 ETH is precisely the curve's terminal price, there is no price gap and no risk-free graduation arbitrage taken out of the locked LP;
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. sends the 0.10 ETH treasury migration cut and 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 (the ETH rides on the transaction's value). 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 locked at migration — it cannot be pulled.
• DEX wiring (pool manager, fee hook) is immutable — no setter can repoint new launches at a malicious venue.
• Slippage bounds (minTokensOut / minEthOut) on every trade.

giwagmi launches on GIWA Sepolia — the factory, fee hook, swap router and quoter deploy and are 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 social layer across creators, and richer token discovery.