$ARCIRCLE

Important notice

This document describes how ARCIRCLE PAD and the $ARCIRCLE coin work today, and what the project intends to build next. It is an explanation, not an offer.

How to read this document

• Live Live means the feature is deployed on Arc mainnet and anyone can use or verify it on-chain today.
• In progress Soon means part of it exists (for example a deployed contract that hasn't been started) and the rest is being built.
• Planned Planned means an intention. Plans can change, slip or be dropped as the project learns what works.

Every number marked "at the time of writing" was read directly from Arc mainnet on 23 September 2026 and will have moved since. Where this document and the chain disagree, the chain is right — every contract referenced here is listed with its address in Section 9 so it can be checked independently on ArcScan.

Forward-looking statements

Sections on the flywheel, rewards, CirclePad v2 and the roadmap describe future work. They reflect current intent, not commitments. Revenue splits, reward formulas and timelines will be published on the website before anything goes live, and may differ from what is sketched here.

Impostors

The only official $ARCIRCLE contract is 0xe5718F298ac3b65FAf7c711b56cBD72b3bb15fF7, launched on Argus on 25 September 2026. It is published on arcircle.app and by @ARCIRCLEonArc. Other tokens with similar names already exist on Arc — including one called "ARCircle" with its own pair on Dexscreener. ARCIRCLE PAD will never identify $ARCIRCLE by name or ticker alone; always check the contract address.

What's inside

• Overview
• Abstract4
• $ARCIRCLE at a glance5
• 1 · Why Arc6
• 2 · The problem with launchpads7
• 3 · ARCIRCLE PAD: two launchpads, one coin8
• The products
• 4 · ArcPad — instant launches9
• 4.2 · Pricing and the fixed starting point10
• 4.3 · Fees and allocations11
• 4.4 · Pair tokens12
• 4.5 · Trading and coin pages13
• 5 · CirclePad — launch together14
• 5.2 · A round, step by step15
• 5.3 · CirclePad v2: leads, votes and vesting16
• The coin
• 6 · $ARCIRCLE — the core coin17
• 6.2 · How $ARCIRCLE trades18
• 6.3 · Supply, burn and circulation19
• 6.4 · What $ARCIRCLE is for20
• 7 · The flywheel21
• 7.2 · Revenue in, value out22
• 8 · Rewards for holders and creators23
• Trust & future
• 9 · Architecture and contracts24
• 10 · Security and transparency25
• 11 · Community and governance26
• 12 · Roadmap27
• 13 · Risk factors29
• Glossary and links30
• Appendix
• A · First launch record: the foci bonding curve31

One ecosystem, pointed at one coin

ARCIRCLE PAD is a launch ecosystem on Circle's Arc network, the chain where USDC is the native currency. It offers two different ways to bring a new coin to market — and one coin, $ARCIRCLE, that the whole ecosystem is designed to feed.

ArcPad is for instant, permissionless launches. Anyone can create a coin in a single transaction for a flat 1 USDC fee. The coin's sellable supply goes straight into a real Uniswap v4 pool from its first block, so there is no bonding curve to "graduate" from and no migration to wait for. Every coin opens at the same fair starting point — about $4,350 of market value — whether it is paired with USDC, with $ARCIRCLE, or with any other token on Arc.

CirclePad is for launching together. Instead of one creator and a crowd of snipers, a project raises USDC from its community over a fixed 72-hour window. Contributors can withdraw at any time while the window is open. In its full design, the biggest backer becomes the project's lead, $ARCIRCLE holders vote on what the project becomes (every vote burns 1,000 $ARCIRCLE), and the lead's payout vests slowly and can be clawed back if they walk away.

$ARCIRCLE is the coin between them. It was relaunched on Argus on 25 September 2026 and trades in a Uniswap v4 pool paired with USDC, with its whole supply in one locked liquidity position and no team allocation. The ecosystem is designed so that what ArcPad and CirclePad earn, together with the creator's 90% of $ARCIRCLE's trading tax, flows back into $ARCIRCLE through buybacks, liquidity support and — once built — rewards for holders and creators.

This paper explains each piece in turn: how ArcPad prices and trades coins (Section 4), how CirclePad rounds work today and where they are going (Section 5), how $ARCIRCLE itself works and what it is for (Section 6), how revenue is meant to turn the flywheel (Sections 7–8), how the system is built and secured (Sections 9–10), and the roadmap ahead (Section 12).

$ARCIRCLE in numbers

The ecosystem

Market figures (price, market cap, holders) change every block. The live numbers are always on the $ARCIRCLE page at arcircle.app/arc#arcircle, read straight from the chain.

1Why Arc

Arc is Circle's own layer-1 blockchain. Its defining choice is simple and unusual: the native currency — the thing you pay gas in — is USDC, not a volatile token.

On most chains, launching or trading a small coin means holding two volatile assets: the coin itself, and the chain's gas token. A new user has to buy ETH, SOL or BNB first, keep some aside for fees, and watch both move. On Arc, the dollar is the base layer. A wallet funded with USDC can pay for gas, pay a launch fee and buy a coin with the same balance.

What this means for a launchpad

Why build early

New chains are won by the projects that make them useful first. Arc gives creators stable-value accounting and low, predictable fees, but a new network also starts with little tooling for ordinary users who just want to launch or buy a coin. ARCIRCLE PAD sets out to be that tooling: a place where a coin can go from idea to live, tradable Uniswap pool in one transaction, and where community raises can happen with rules enforced by contracts instead of promises.

Arc network details in this paper (chain ID 5042, USDC gas, the USDC predeploy address and the Uniswap v4 PoolManager address) are taken from the live configuration the ARCIRCLE PAD site runs against.

2The problem with launchpads

Memecoin launchpads made it trivial to create a token. They did not make it fair to launch one, safe to buy one, or rewarding to build a community around one.

Four recurring failures

What ARCIRCLE PAD changes

None of this removes risk. Memecoins remain speculative, and a fair launch can still go to zero. The goal is narrower and achievable: make the rules visible, enforce them on-chain, and make sure the ecosystem's growth has somewhere to go.

3Two launchpads, one coin

The name says it: Arc for ArcPad, Circle for CirclePad — two ways to launch, joined into one circle by $ARCIRCLE.

Design principles

1. Contracts hold the money. Launch fees, pools, raises and refunds live in contracts on Arc. The website is only an interface to them.
2. Fair first price. No launch should start at a price a bot can take for free.
3. Real liquidity early. ArcPad coins trade in a Uniswap v4 pool from their first block; CirclePad is designed to turn most of a raise into pool liquidity at launch.
4. Everything is readable. Every price, trade, holder list and chart on the site is computed from on-chain data in the visitor's own browser. There is no private database to trust.
5. One direction for value. Revenue has one destination: $ARCIRCLE and the people who hold and build with it.

4ArcPad — instant launches

ArcPad turns a name, a ticker and an optional logo into a live, tradable coin in one transaction. There is no waiting list, no curve and no migration: the market exists from the moment the transaction confirms.

What happens in the launch transaction

The launch form

• Name and symbol — required. Every coin has exactly 1,000,000,000 supply; there is no mint function afterwards.
• Logo, description, website and socials — optional, stored on-chain with the launch record so any interface can display them. Uploaded logos are shrunk automatically to a small icon, because every byte stored costs gas.
• Pair token — USDC by default, or $ARCIRCLE, or any Arc token with a known price (Section 4.4).
• Creator fee add-on — 0% to 2% on top of the base fee, 100% paid to the creator (Section 4.3).
• Dev buy — an optional first buy executed inside the launch transaction, before anyone else can trade.

Before anything is sent to the wallet, the site checks that the wallet can afford the launch (fee + gas + dev buy) and dry-runs the transaction, so a launch that would fail shows a plain reason instead of a cryptic error. After it confirms, the site opens the new coin's page automatically.

Pricing and the fixed starting point

An ArcPad pool is a standard Uniswap v4 pool holding one single-sided liquidity position. Inside that position, it behaves exactly like the classic constant-product market x · y = k.

A virtual reserve instead of a curve

At launch the pool holds only the new coin — the 920,000,000 sellable tokens — and no pair token at all. The position starts at a price chosen so that the pool behaves as if it also held a virtual reserve worth $4,000 of the pair token. The virtual reserve never exists as real money and cannot be withdrawn; it simply sets where the price curve begins.

As buyers add real pair tokens to the pool and take coins out, the product of the two sides stays constant. After buyers have added a total of q (in dollar terms), the price is:

Worked examples (fees ignored)

The pool is initialised on the nearest usable tick (spacing 200, about 2% per step), so a coin's real opening price can sit up to ~2% away from the ideal P₀. The coin page always shows the exact on-chain price.

Fees and allocations

ArcPad earns in three ways, all enforced by the factory and the pool's fee hook: a flat launch fee, a fixed token allocation, and a share of every trade.

How the trade fee is taken

ArcPad pools have no Uniswap LP fee (the pool's own fee is set to zero). Instead, the HomepadHybridHook runs after every swap and takes its fee from the swap's output: in the coin when someone buys, in the pair token when someone sells. It then pays the creator and the platform immediately, in the same transaction. Nothing accrues in a contract waiting to be claimed.

Worked example

A coin launched with a 1% creator add-on (2% total). Someone sells tokens for 500 USDC of pool output:

Why creators are paid per trade

Paying the creator a share of volume, not a lump sum, aligns them with the coin's long-term activity. A creator who keeps building keeps earning; a creator who abandons the coin stops earning with it. The platform's share — together with the launch fee and the 8% allocation — is the revenue that feeds the $ARCIRCLE flywheel described in Section 7.

Fee parameters (base 1%, 70/30 split, 0–2% add-on, 1 USDC fee, 8% allocation) match the deployed factory and hook, and are shown in the launch form's live fee preview.

Pair tokens

Every ArcPad coin is paired with one other token — the token buyers pay with and sellers receive. USDC is the default, but the factory accepts any ERC-20, so a creator can pair with $ARCIRCLE or with any token on Arc.

Same starting point for every pair

To keep launches fair across pairs, the virtual reserve is always sized to $4,000 of the pair token at its current price. If $ARCIRCLE trades at $0.0000048, the reserve is about 826 million $ARCIRCLE; if the pair is USDC, it is exactly 4,000 USDC. Either way the coin opens at ≈ $0.0000043 and ≈ $4,350 market cap.

How the pair token is checked

1. It must be a real ERC-20 on Arc — the site confirms there is contract code at the address and that it answers decimals(), totalSupply() and balanceOf().
2. It must have a known USD price, taken from the best available source: USDC itself; the $ARCIRCLE bonding curve; an ArcPad pool (for coins launched here, priced through their own pair); or Dexscreener. A token with no price can't set a fair starting point, so the launch is refused.
3. Custom tokens carry a warning. Tokens that tax transfers, rebase, or can freeze wallets can break a pool and trap funds. The site can't detect every such behaviour, so creators should only pair with tokens they trust.

What changes with a non-USDC pair

• Dev buys, approvals and balance checks use the pair token.
• The coin's USD price moves with both its own market and the pair token's price.
• Sell-side fees are paid in the pair token — for a $ARCIRCLE pair, the creator and the platform earn $ARCIRCLE.
• Coin pages show amounts in the pair token alongside USD values, and the chart is plotted in USD.

Trading and coin pages

Every ArcPad coin gets its own page — a live chart, trade history, holders, links and a buy/sell box — built entirely from on-chain data in the visitor's browser.

Buying and selling

Trades go through the HomepadArcSwapRouter, which settles against the coin's Uniswap v4 pool in a single call. Each trade has a minimum-output floor: if the price moves past the chosen slippage (0.5–5%) before the trade lands, it reverts instead of filling at a worse price.

1. Quote. The page reads the pool's live price and liquidity and computes the exact constant-product output, minus the hook's fee.
2. Approve. The first trade in each direction asks the wallet to approve exactly the amount being traded — never an unlimited allowance.
3. Dry run. The exact trade is simulated before the wallet is asked to sign, so a trade that would fail says why.
4. Trade. One transaction; the wallet receives the output directly from the pool.

What a coin page shows

No backend, by design

The site has no database of trades and no indexer server. Prices come from the pool's state via the PoolManager's extsload (the same method Uniswap's own StateLibrary uses); trades come from the PoolManager's Swap events for that pool; holders are rebuilt from the coin's Transfer events. History is cached in the visitor's browser so return visits only read new blocks.

The practical consequence: anyone can verify every number. If the site went away tomorrow, every coin, pool and balance would still be on Arc, tradable through any interface that speaks Uniswap v4.

5CirclePad — launch together

"One project. Everyone's USDC. Nobody's rug." CirclePad is built for launches that are bigger than one person: a community pools USDC first, and the project launches with that money already behind it.

Why raise before launching

On an instant launchpad the first price is set by whoever is fastest. On CirclePad, the first price is set by everyone who contributed during the raise — and most of what they contributed is designed to become real pool liquidity the moment the project launches. There is no empty curve to snipe and no race at block one.

Where CirclePad is today

The first-round escrow contract (BigPadEscrow) is deployed on Arc mainnet. It is deliberately simple: the recipient wallet starts a 72-hour timer; anyone can contribute native USDC while it runs and withdraw their own contribution before it closes; when it closes, the balance is split automatically between the recipient, the platform and the treasury. The escrow has been deployed but not yet started — no funds are at risk until a round is announced and opened.

The round's candidates are published on a companion contract (BigPadVote), deployed once a round starts because it reads the round's deadline. Votes are cast through ArcircleBurnVote: one vote costs exactly 1,000 $ARCIRCLE, sent from the voter to the dead address (0x…dEaD) inside the vote transaction. Anyone holding $ARCIRCLE can vote, as many times as they like; votes can't be changed or taken back. Voting runs while the raise is open and closes with it, so the coin is decided by the time the raise ends. The contract has no owner and holds no tokens.

The larger mechanism — competitive leadership, the 12-hour checkpoint, vesting and clawback — is a separate contract still in design. It will not hold real funds before an independent security review (Section 10).

A round, step by step

A CirclePad round has five stages. The first round implements the raise and the automatic split; the later stages describe the full design.

1 · The raise Round 1

The recipient wallet calls start(), which sets a deadline exactly 72 hours ahead. Anyone can contribute USDC; each contribution is recorded against the contributor's address. A live leaderboard ranks contributors by amount and share.

2 · Governance Round 1

While the raise runs, $ARCIRCLE holders vote on the options published for the round. Every vote burns 1,000 $ARCIRCLE, so influence costs something real — and every vote cast gives $ARCIRCLE a use and shrinks its supply.

3 · Close and split Round 1

When the deadline passes, contributions stop and withdrawals end. In the first round, the escrow splits the balance directly: 80% to the recipient (for the project's launch liquidity), 5% to the platform and 15% to the treasury.

4 · Launch v2

In the full design, 80% of the raise becomes real liquidity in the project's pool immediately, so the coin opens with deep liquidity instead of an empty curve. Dexscreener listing and promotion are paid by the platform, not by the lead.

5 · Grow together v2

The lead's 15% is released gradually — 3% per day over five days — while CirclePad's 5% funds buybacks and promotion for the ecosystem.

CirclePad v2: leads, votes and vesting

The full CirclePad design answers one question: how can a community fund a project lead without handing a stranger a lump sum?

Leadership is earned by commitment

The largest contributor to a raise becomes the project's lead. Putting the most money in is the clearest signal of commitment — and the lead's own contribution is at stake alongside everyone else's.

The 12-hour checkpoint

When the raise ends, the confirmed lead has 12 hours to publish the project's confirmed details, an official X account, and at least one community channel (an X Community, Telegram or Discord; a website is encouraged). If they miss the checkpoint, leadership passes to the second-largest contributor, who gets the same 12 hours.

Vesting instead of a lump sum

An earlier draft paid the lead's 15% the moment the checklist was met. That was too easy to exploit: someone could self-fund a majority bid, clear the checklist in minutes and leave with a share of everyone else's money. In v2 the lead's share vests at 3% per day over five days.

Automatic clawback

Vesting alone doesn't stop a lead from collecting a few days and disappearing. So the lead must check in on-chain periodically — roughly every 48 hours. A missed check-in marks the project abandoned automatically — no admin, no vote, no judgment call — and everything not yet vested returns to the original contributors, pro rata to what they put in.

Holder benefits

• Real liquidity from block one — participants join a project that launches with a pool, not a race against bots on an empty curve.
• ArcPad synergy Planned — existing ArcPad participants are planned to get an advantage when a CirclePad round opens.
• CirclePad airdrop Planned — a separate airdrop for CirclePad participants is planned. Eligibility, size and timing will be published before anything goes live.

6$ARCIRCLE — the core coin

ArcPad and CirclePad are two different ways to launch. $ARCIRCLE is the one coin that sits between them — the place where the ecosystem's growth is meant to come back together.

Identity

Why a memecoin, and why this one

Launchpads live on attention, and attention gathers around symbols. A launch ecosystem needs one coin that everyone in it recognises and has a reason to hold: the thing the community rallies behind when a new launch goes well, and the thing that benefits from every launch that happens.

$ARCIRCLE fills that role without asking anyone to trust an insider allocation. Because its supply went straight into a public market, every holder — including the project's own treasury — acquires $ARCIRCLE the same way: by buying it at the market price.

Where to get it

1. On Argus (argus.world), where it was relaunched — trades settle in its Uniswap v4 pool, in your own wallet.
2. On ArcPad's $ARCIRCLE page (/arc#arcircle), which shows the live price, chart, recent trades, holders and buybacks read straight from the pool, and links to Argus to trade.

How $ARCIRCLE trades

$ARCIRCLE trades on Argus, a permissionless launchpad on Arc built on Uniswap v4 hooks. There is no virtual curve and no graduation step: the whole supply went into one real Uniswap v4 liquidity position at launch, and that position is locked for good.

Trading costs

Every swap pays the 1% pool fee plus the launch's buy or sell tax, which is set once at launch (1–10% per side) and fixed for the life of the pool. The tax is taken on the USDC side of the trade. Wallet-to-wallet transfers pay nothing.

Where the tax goes

Bonding milestone

Argus marks a launch as bonded once its price crosses a threshold set at launch. It is a milestone only: the pool does not move, liquidity stays in the same locked position and trading never pauses. ArcPad's $ARCIRCLE page shows the progress live.

Supply, burn and circulation

At launch Argus minted the entire supply once and placed all of it in the pool's liquidity position, above the opening price; buyers take tokens out of that position as they buy. No wallet received a pre-mint and there is no team allocation.

The burn

On 25 September 2026, 116,772,290.56 $ARCIRCLE — 11.68% of the total supply — was sent to the dead address 0x000000000000000000000000000000000000dEaD (transaction 0x0c90…99ae). On 26 September 2026 a further 9,491,742.10 $ARCIRCLE followed (transaction 0x5498…6fb2), bringing the total to 126,264,032.66 — 12.63% of the supply. No one holds a key to that address, so those tokens can never move again. The live total, including any future burn, is on arcircle.app/arcircle.

Reading the numbers

• Market cap on ARCIRCLE PAD and on Dexscreener is price × 1,000,000,000 (total supply).
• Circulating supply is the total supply minus the burned tokens.
• Holders and the supply split leave out the pool, the dead address and Argus's own contracts, so they count real wallets only.

What $ARCIRCLE is for

$ARCIRCLE has no protocol-level powers — it can't mint, vote on contracts or unlock features by itself. Its utility comes from the roles the ecosystem gives it, some live today and some planned.

The $ARCIRCLE pair, in practice

When a coin is launched paired with $ARCIRCLE, three things happen that don't happen with a USDC pair:

1. Demand. Every buyer of the new coin needs $ARCIRCLE first — either buying it or already holding it.
2. Liquidity. The new coin's pool accumulates real $ARCIRCLE as it grows, taking that $ARCIRCLE out of circulation for as long as the pool holds it.
3. Fees in $ARCIRCLE. The sell-side fees of that coin are paid in $ARCIRCLE, so its creator and the platform earn the core coin directly.

What $ARCIRCLE is not

It is not a share, a claim on revenue, or a security. Holding it gives no legal right to any payment. Buybacks and rewards are intentions of the project, funded from revenue when and if there is revenue, on terms that will be published before they start.

7The flywheel

Every launch turns the wheel. The wheel turns for $ARCIRCLE.

The flywheel does not rely on new token emissions. $ARCIRCLE's supply is fixed; everything that feeds the loop comes from real use of the ecosystem — people launching, trading and raising.

An illustration, not a forecast

To show how the pieces add up, imagine a month in which 100 coins launch on ArcPad and trade a combined $500,000 of volume, one CirclePad round raises $50,000, and $ARCIRCLE itself trades $100,000 on its curve:

These figures are hypothetical, chosen only to show the arithmetic. Actual activity may be far lower or higher.

Revenue in, value out

Where revenue comes from

Where it is meant to go

Commitments

1. Publish before acting. The exact split between buybacks, liquidity and rewards will be published on the $ARCIRCLE page before any of it goes live.
2. Known wallets. Treasury and platform wallets are public (Section 9). Anyone can follow what comes in and what goes out on ArcScan.
3. Report the results. Buybacks will be posted with their transaction links so the community can verify amounts and timing.
4. No surprise supply. $ARCIRCLE's supply is fixed at one billion. The flywheel never mints new $ARCIRCLE.

Handling launched-coin allocations

The 8% allocation from each ArcPad launch is paid in that launch's own coin, which may be illiquid. The treasury will manage these allocations case by case — holding, supporting the coin's liquidity, or converting gradually when a coin has a real market — with the principle that the treasury should never be the reason a small community coin crashes. The approach will be documented alongside the revenue split.

8Rewards for holders and creators

The reward system is how the flywheel gives back to the people who grow ARCIRCLE PAD — the ones who hold $ARCIRCLE and the ones who launch. It is being designed now and is not live.

Design principles

1. Funded by revenue, never by emissions. Rewards come out of real ecosystem income. No new $ARCIRCLE is created to pay them.
2. Hard to farm. Snapshots taken at unannounced times, minimum holding periods, and activity measured over windows make it expensive to game the program with short-term balances or wash trading.
3. Verifiable. Eligibility rules are published, and results can be recomputed by anyone from public chain data.
4. Simple to claim. One place to see eligibility and claim, on the ARCIRCLE PAD site.

What the next update will define

Candidate mechanics under study

• Time-weighted holder snapshots — average balance over an epoch rather than a single-block balance.
• Creator score — combining a coin's organic volume, unique buyers and holder retention, with a boost for $ARCIRCLE-paired launches.
• Referral share — a slice of fees for wallets and communities that bring in launches, once referral support is added to the routers.

Everything on this page is design intent. The final program may differ, and it will only go live once its rules are published on the site.

9Architecture and contracts

ARCIRCLE PAD is a set of contracts on Arc mainnet and a static website that talks to them. There is no server holding user funds or data.

How the pieces fit

• Factory — creates each coin, collects the launch fee, sends the 8% allocation, initialises the Uniswap v4 pool, adds the single-sided liquidity, registers the fee hook and records the launch metadata. It also executes optional dev buys.
• Hook — runs after every swap in an ArcPad pool, takes the fee from the output and pays the creator and platform immediately. It only acts on pools the factory registered.
• Router — the buy/sell entry point for users: pulls the input, swaps through the PoolManager, enforces the minimum output and returns any unspent input.
• Escrow — holds CirclePad contributions, enforces the 72-hour deadline, refunds on request while open and splits the balance at close.

The website

The site at arcircle.app is static HTML and JavaScript. It reads the chain through Arc's public RPC, connects wallets through Reown AppKit / WalletConnect or an injected wallet, and sends transactions only when the user signs them. Before any transaction it switches the wallet to Arc if needed, and it dry-runs launches and trades so failures are explained before signing.

10Security and transparency

The safest money is money a website never touches. ARCIRCLE PAD is built so that users sign every transaction themselves and every rule is enforced by contracts anyone can read.

Safeguards in place

Contract review status

Known risks we design around

• Hostile pair tokens — fee-on-transfer, rebasing or freezable tokens can break a pool; the site warns on custom pairs and requires a known price.
• Relay and wallet issues — WalletConnect sessions are restored carefully and repaired automatically if storage gets out of sync, instead of forcing users to clear their cache.
• Public RPC limits — history is read in small, rate-limited chunks and cached locally.

Security findings can be reported privately to the team through the official channels listed on the site. Planned: a public bug-bounty scope once CirclePad v2 enters review.

11Community and governance

ARCIRCLE PAD starts with a small team making fast decisions, and moves toward the community deciding more as the system proves itself.

Today

Contract deployments, fee parameters, treasury management and the website are run by the core team. Many parameters are fixed in contracts and cannot be changed by anyone — ArcPad's fee cap, the 8% allocation, the fixed supply of every launch. Where the team does make choices (revenue splits, reward rules, featured launches), the commitment is to publish them before acting.

CirclePad: governance by contributors

CirclePad already puts decisions in the community's hands. $ARCIRCLE holders vote on each round's identity — name, ticker, logo, roadmap and launch date — and every vote burns 1,000 $ARCIRCLE. This is the first place real on-chain governance appears in the ecosystem.

Where it goes next Planned

How to take part

• Launch a coin on ArcPad — and consider pairing it with $ARCIRCLE.
• Contribute to CirclePad rounds, and burn $ARCIRCLE to vote on what the project becomes.
• Hold $ARCIRCLE — the coin the whole ecosystem points at.
• Build — every contract is public; wallets, bots and dashboards can integrate ArcPad pools directly through Uniswap v4.

12Roadmap

Five phases, from what is already live to where the ecosystem is headed. Dates are targets, not promises; items can move between phases as the project learns.

Roadmap, continued

How progress will be reported

• Each shipped item is announced with a link a user can try, or a contract a user can read.
• The roadmap page on the site is updated as items move, including items that are dropped or delayed, with the reason.
• Treasury and buyback activity is reported with on-chain transaction links.

What will not change

Roadmap items after Phase 0 are plans. Timelines depend on security reviews, market conditions and community feedback, and may change.

13Risk factors

Anyone using ARCIRCLE PAD or holding $ARCIRCLE should understand the risks. This list is not exhaustive.

Your responsibility

• Keep your seed phrase private. ARCIRCLE PAD will never ask for it.
• Check every transaction in your wallet before signing it — amount, contract and network.
• Only pair with, buy or contribute to things you understand and trust.

Glossary and links

Official links

The bonding curve

In its first launch, $ARCIRCLE traded against foci's FociBondingCurve contract, priced in USDC.

How the price works

The curve is a constant-product market between the $ARCIRCLE it still holds and a USDC reserve. The USDC side includes a virtual ("phantom") reserve, so the very first token already has a non-zero price — the same idea ArcPad uses with its virtual reserve. As people buy, real USDC accumulates on top of the phantom amount and the price rises; as they sell, it falls.

These formulas were checked against real $ARCIRCLE trades on mainnet and reproduce them to the last unit, which is why ArcPad's $ARCIRCLE page can quote trades exactly before they are sent.

Costs per trade

On a buy, both are taken from the USDC going in; on a sell, both are taken from the USDC coming out. The effective round-trip cost of buying and immediately selling is therefore about 6%, before price impact — one reason $ARCIRCLE is better suited to holding than to rapid trading while on the curve.

Protection built into the curve

• Slippage floors. Buys and sells carry a minimum output. If the price moves past it before the trade lands, the trade reverts (SlippageExceeded) rather than filling at a worse price.
• Partial fills at the top. If a buy would take more than the curve has left to sell, it fills what it can and refunds the unused USDC in the same transaction.
• Frozen at graduation. Once the curve is graduating or graduated, it stops accepting trades so liquidity can move cleanly to the DEX pool.

ARCIRCLE PAD does not operate the foci curve. Its $ARCIRCLE page calls the same public contract any foci user does; foci's own terms and fees apply.

Supply, distribution and graduation

All 1,000,000,000 $ARCIRCLE were minted in a single transfer from the zero address to the bonding curve at launch. No wallet — including the project's — received tokens any other way.

Two parts of one supply

The curve divides the supply it holds into a sellable part, which buyers can take from the curve, and a reserved part, which the curve keeps back to seed the DEX pool when $ARCIRCLE graduates. At the time of writing, the reads imply roughly 714 million sellable and 286 million reserved, of which about 41 million had been bought.

Graduation

The curve tracks the real USDC it has taken in. When that reaches the graduation threshold — about 11,130 USDC at the time of writing — the curve is marked ready to graduate and stops trading. The accumulated USDC and the reserved $ARCIRCLE are then used to open a DEX pool, and $ARCIRCLE trades there from then on.

After graduation

• ArcPad's $ARCIRCLE page watches Dexscreener for a pair whose base token is exactly the $ARCIRCLE contract. When one appears, the Dexscreener chart and link switch on automatically.
• ArcPad launches paired with $ARCIRCLE keep working unchanged — their pools hold $ARCIRCLE itself, wherever it trades.
• Treasury buybacks (Section 7) move to the DEX pool.

Graduation depends entirely on market demand. It may happen quickly, slowly, or not at all; no one can schedule it.