Overview
Plaxed is a V3-first launchpad. A token launch creates a fixed-supply token, a dividend distributor, a Uniswap V3 pool, and the initial liquidity position.
The active contracts are PlaxedDirectV3Factory, PlaxedDividendToken, PlaxedDividendDistributor, and PlaxedSwapRouter.
Launch
Creators call launchToken with token metadata, socials, a fee wallet, and ETH for the launch fee plus minimum pool liquidity.
The factory calculates the token side of liquidity from the target FDV, creates or initializes the V3 pool, mints the LP NFT to the creator, and sends the remaining supply to the creator.
Trading
App trades go through PlaxedSwapRouter. Buys use buyExactEth. Sells use sellExactTokens.
On a buy, ETH is split into host fee, dividend fee, and swap amount. On a sell, the token is swapped to WETH first, then host and dividend fees are taken from the output before net ETH is sent to the seller.
USDG dividends
The dividend fee is converted into USDG and sent to the token distributor. The distributor allocates rewards pro-rata to eligible holders using magnified dividend accounting.
Holders claim with claim(). Anyone can call claimFor(account), but the USDG always goes to the account that earned it.
Host and token owner
The host is the protocol fee recipient configured in the router. Host fees accrue as ETH in pendingEthFees[hostFeeRecipient] and are claimed with claimFees(recipient).
The token owner receives the non-liquidity allocation and the V3 LP NFT. The current deployed V3 router does not send a separate private ETH fee only to the token owner. If the owner holds tokens, they earn USDG dividends pro-rata like any other holder.
Security
Plaxed tokens are fixed supply. Host fees and holder rewards are pull-based, so unusual recipient wallets cannot block normal swaps or transfers.
The distributor excludes the factory, pool, router, zero address, and burn address so USDG rewards go to circulating holders. The frontend reads onchain launch, pool, trade, and transfer events for live views.