VRAM · VRamRWA
token 0xa125492acbce82793319ada70f0675f12d12cd37
curve 0x4fed869afd3b9126c402e29c4f4972e56b76f697
| Launched | · block 74104162 · tx 0x078b…a6bd |
|---|---|
| Launchpad | pons v2 on Robinhood Chain (chain 4663) |
| Quote asset | ETH (native) |
| Creator tax | 200 bps (2%), on every buy and sell |
| Trade fee | 100 bps (1%), on every buy and sell |
| Deployer | 0xc162…c40d |
Verdict: avoid
7 wallets buying direct from the curve in the same 100 ms blocks held 93% of the tokens 3 s after launch (15 buyers in all); when this class is at least 8 buyers and a 50% share, 92.7% of such launches did not graduate and ended near 0.36 of their peak price; on pons v2 such a cluster is often the team's own opening bundle, which the launch call can exempt from the snipe tax.
ring_class_3s; base rate: our 2026-09-06/07 study: 14.5% of launches matched, 47% of those dumped, median terminal multiple 0.37x; refresh on ETH launches 2026-09-19..25 with a 3 s snapshot (n=28,147): 6.5% matched, 7.3% of those graduated against 0.81% of the rest, and the ones that did not graduate ended at a median 0.36 of their peak price)As of 2026-09-27 21:12:02 UTC. The rule, its thresholds and the base rates it rests on are public at /v1/labels (rhc_verdict); it is not odds, not a prediction for this curve and not a safety verdict. The paid curve card gives the verdict at request time with the deployer record and an exact sell check.
| Outcome | not graduated when we last read the curve (2026-09-27 21:12:02 UTC); last curve trade observed 2026-09-27 21:12:05 UTC |
|---|---|
| Raised at the last state | 2.7414 ETH of the 4.2 ETH graduation raise (65.3%) |
| Peak raised | 77.9% of the graduation raise |
| Price vs launch (exact curve model) | 6.93x at the last state, 8.69x at the peak |
| Curve trades observed | 858 buys, 571 sells |
A pons curve graduates when its real quote reserve reaches the graduation raise (4.2 ETH on ETH-quoted curves): the curve completes and a pool opens. Raised and price come from the exact constant-product model rebuilt from the curve's own buy, sell and fee-sweep events (fee and creator tax on both legs). From our own independent capture of public pons v2 factory and curve events on Robinhood Chain (chain 4663), not resold data.
| measure | at 3 s after launch | latest snapshot (2026-09-27 21:00:00 UTC) |
|---|---|---|
| Holders on the curve | 14 | 54 |
| Top holder share | 71.0% | 28.0% |
| Top 5 holders share | 96.7% | 54.0% |
| Deployer holding share | 2.0% | 0.8% |
| Same-block direct-buy cluster share | 92.6% | 60.4% |
| Wallets in same-block direct-buy clusters | 7 | 33 |
| Buys sent direct to the curve | 95.7% | 61.7% |
| Buys through a terminal router | 4.3% | 38.3% |
| Held by terminal-router buyers | 2.0% | 26.8% |
| Unique buyers | 15 | 216 |
| Buys tied to a sender | 100.0% | 95.4% |
Holders are wallets with a positive balance bought on the curve (pool trades after graduation are not counted). A same-block direct-buy cluster is a set of wallets that bought directly from the curve in one 100 ms block with at least one other direct buy; matching timing does not establish coordination or common ownership, and on pons v2 such a cluster is often the launch team's own opening bundle, bought by addresses the launch call exempted from the snipe tax. A terminal router is a trading front end's contract; routing does not identify a human or a bot.
The ring rule published with our paid cards: unique_buyers >= 8 and structure.same_block_direct_cluster_share >= 0.5, that is at least 8 buyers 3 s after launch and the wallets buying direct from the curve in the same 100 ms blocks (a block with at least 2 direct buys) holding at least 50% of the tokens bought.
Here at 3 s: 7 wallets buying direct from the curve in the same 100 ms blocks held 92.6% of the tokens, with 15 buyers in all.
This launch at 3 s: matches. On the latest snapshot: matches.
When a launch matched this rule at 3 s (at least 8 buyers, and the wallets buying direct from the curve in the same 100 ms blocks holding at least 50% of the tokens), 92.7% of such launches did not graduate and those ended near 0.36 of their peak price (ETH launches of 2026-09-19..25 with a 3 s snapshot, n=28,147); on pons v2 such a cluster is often the team's own opening bundle, which the launch call can exempt from the snipe tax. Base rates over other launches, not odds for this curve.
Why the team's own bundle: the pons v2 docs describe a launch call that exempts up to 32 addresses from the snipe tax "for a team bundling its opening buys across several wallets", and in 63% of the 2,176 launches that matched at 3 s in 2026-09-20..27 most of the cluster's buying in seconds 0-2 paid no snipe tax (measured 2026-09-27 on our tape).
The 09-07 study is our own pons v2 capture of 2026-09-06/07 with the structure read 3 s after launch: 14.5% of launches matched the rule, 47% of the ETH launches matching it fell to 0.6x of their price or less within 60 s (dumped), and their median ended at 0.37x its launch price. Matching timing does not establish coordination, common ownership or intent.
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