Overview
mystrat launches strategy tokens on Pons, the token launchpad on Robinhood Chain. Each token comes with a vault, and from the token's first trade its creator rewards accrue to that vault. The vault spends them on the one job it was launched with: buying the cheapest piece of an NFT collection, or buying bags of another token.
Every trade on Pons adds to the vault's budget, and every resale of what the vault buys takes tokens out of supply. The vault needs no top-ups and no operator. Any wallet may run a step, and the keeper runs them on a timer when nobody else does.
The loop
- Trades feed the vault. Every trade on Pons pays the token's 10% creator tax to the vault, and 0.7 points of Pons' 1% fee go there too, as Pons records it when the token launches. 80% of it becomes the strategy's treasury.
- The bid climbs. The vault offers a little more every second until a seller meets its price.
- Whatever it buys is offered back at 1.2 times the price it paid.
- Resales become burns: the full price of each one buys the token on Pons, and those tokens go to the dead address.
Trading keeps paying in, so the cycle starts over each time the bid resets. Each step in detail: how it works.
Two kinds
The kind decides what the vault buys. It is chosen at launch and never changes.
- NFT strategy
- Bids for the cheapest piece of a single collection and burns the token each time it resells one.
- Token strategy
- Buys another token from its holders, a fixed bag at a time, relists each bag and burns with every sale.
Side by side, and which one to launch: kinds of strategy.
Why it exists
An NFT collection or a small token has no standing buyer. Interest arrives, the floor moves, and when the interest leaves nothing is left bidding. A strategy gives the collection or the token a bid paid for by trading in another token, and that bid stays for as long as the other token trades.
The strategy token gets a job for its creator rewards that anyone can check on chain. They buy real pieces or bags, and what those sell for ends as burnt supply.
Before you buy
Holding a strategy token gives you no share of its vault. You cannot redeem it for the vault's ETH, pieces or bags, and its price comes only from trading, so it can sit well below what the vault holds. Holding it gets you the effect of the vault's buying and of the supply its resales burn, and nothing more.
The mystrat contracts have had no external audit, only the team's own. A bug could lose a vault's ETH, pieces or bags.
A launcher may own the contract of the collection or token its strategy buys, and the strategy page then warns “The launcher owns this collection's contract and can change it.” Such an owner may be able to mint new pieces or tokens to a wallet of their own and sell them to the vault at the bid, so the vault's ETH buys something that cost them nothing.
The owner of Pons can move any token's creator rewards to another address after 3 days' notice, and mystrat cannot stop it. The strategy page shows a notice while such a change is pending, and whatever the vault already holds stays with it.
Pons and Robinhood Chain are run by others. An outage, a pause or a rule change there stops strategies too. More straight answers are in the FAQ.
Where it runs
mystrat runs on Robinhood Chain, an Arbitrum chain with ETH for gas and a new block about every 100 ms. Every strategy token lives on Pons, the chain's token launchpad. mystrat operates neither of them.
Robinhood Wallet, on iOS and Android, works with Robinhood Chain as it is: press “Connect wallet” in the top bar of the app. MetaMask and other browser wallets need the network added by hand, with these values:
- Network name
- Robinhood Chain
- Chain ID
- 4663
- RPC URL
https://rpc.mainnet.chain.robinhood.com- Currency symbol
- ETH
- Block explorer
- robinhoodchain.blockscout.com
If your wallet is on another network, the wallet menu offers to switch. Most wallets then offer to add Robinhood Chain for you.