Priced against the S&P 500. Slow is the whole point.
contract address at launchPriced in SPY
Almost every memecoin is paired against ETH, and almost every one of them is trying to be the hare.
TORTOISE is quoted in SPY, the tokenized S&P 500, so the asset backing the liquidity is the five hundred largest companies in America. Nobody has ever gotten rich quick on it. Almost everyone who held it got rich slowly.
When ETH drops, an ETH-paired pool loses backing at the same moment everything else is falling. A SPY-paired pool is tied to something that has outlasted every crash anyone reading this has traded through.
At launch
Launched on Pons, quoted in SPY, with the creator fee set to 1.8%. Pons fixes that at creation and it can never be changed.
0.5 SPY of our own into the curve at launch, taken exempt from the opening snipe tax rather than sniping alongside it.
The TORTOISE from that buy gets paired against more of our own SPY in a Uniswap pool, full range on the 1% fee tier, priced at the curve. A second book behind every trade from the first minute rather than waiting on graduation.
Then it repeats
Two sources. The creator fee on Pons trades, paid in SPY. And trading fees on the Uniswap pool, paid in SPY or TORTOISE depending which side a trader sent in. Both land in the same wallet.
An AMM LP add needs equal dollar value of SPY and TORTOISE, and fees never arrive that way. The excess gets traded into the short side until the two amounts match. Pons pays quote only, so SPY is almost always the excess, which makes this a market buy of TORTOISE. On the rare day TORTOISE runs heavy, it sells instead.
After the rebalance both sides hold the same dollar value, which is what the AMM takes. They go in together, so the ratio is unchanged and the price doesn't move. Only the depth does.
Live
The Pons market and the Uniswap pool, read from chain.
Ledger
Every claim, rebalance and deposit, with its time, amount and transaction.
FAQ
We hold the Uniswap position, and it can be withdrawn. The liquidity Pons creates at graduation is locked permanently and nobody can touch that, including us. Check the ledger and the wallet, and judge the behaviour rather than the words.
The tokenized S&P 500 ETF on Robinhood Chain. Quoting the launch in it is what makes TORTOISE a ratio to the index instead of to ETH.
The Pons market is the main one and stays the main one. Pairing the dev buy against SPY on Uniswap straight away means there's a second book behind every trade from the first minute, and somewhere for fees to compound into before graduation rather than sitting in a wallet.
A burn lifts the price and leaves the pool exactly as thin as it was. Adding puts the tokens back with matching SPY, so the depth stays and the next seller gets a better price out of it.
Probably not. Most of these go to zero and this one has no product, no revenue and no plan beyond the pool getting deeper. Buy accordingly.