How it works
A coin with stock in the curve
Some public companies are crypto with a ticker: they hold it, mine it or run the exchange. Their shares exist as tokenized stock. Proxypad lets you launch a coin with ZEC: a coin whose bonding curve is priced in those shares, so the backing is not a slogan. It is what buyers pay with and what the curve holds.
Pick the backing
Choose one crypto-proxy stock (MSTR, COIN, CRCL, GLXY, WULF or BULL) or a basket. Two baskets are ready to go: Treasury proxies (MSTR 50 / COIN 25 / CRCL 25) and Miners + exchange (WULF, COIN and GLXY in equal parts). Or compose your own from up to six of the listed stocks.
A basket is its own token, minted 1:1 against fixed amounts of its stocks and sized so one unit is about $1 of components on the day it is created. Basket units redeem 1:1 for the stocks inside.
Send ZEC
Give the coin a name and a ticker. The launch page then shows one Zcash address and one amount. Send the ZEC and the coin launches by itself, usually within about 15 minutes of the payment confirming. No wallet to connect. If the payment is short or never arrives, the ZEC is returned to the refund address you gave.
Buys fill the curve
The coin trades on a bonding curve priced in its backing. Every buy puts backing into the curve. Every sell takes it back out. For a basket-backed coin, one transaction pulls the stocks from the buyer, mints the basket units and buys the coin. Selling does the reverse and hands the stocks back.
The founder earns 2%
A 2% creator fee on trades of the coin goes to the founder who launched it. That is the founder's upside for building something people want to trade.
Graduation
Every curve has a raise target. What happens when it is reached depends on the backing:
Single approved stock (today MSTR, COIN, CRCL or BULL): the coin leaves the curve and moves to a Uniswap pool.
Baskets, and single-stock coins on GLXY or WULF: the coin keeps trading on its curve for good. There, graduation means the raise target was hit and the founder can claim the 2% that has built up.
Either way, a raise is not a promise. Reaching the target says people bought. It says nothing about what happens next.
On the menu
| Ticker | Company | Why it is a proxy | Single-stock coins graduate to |
|---|---|---|---|
| MSTR | Strategy | Holds bitcoin on its balance sheet | A Uniswap pool |
| COIN | Coinbase | Runs a crypto exchange | A Uniswap pool |
| CRCL | Circle Internet Group | Issues a dollar stablecoin | A Uniswap pool |
| BULL | Webull | Brokerage with crypto trading | A Uniswap pool |
| GLXY | Galaxy Digital | Crypto financial services | Stays on its curve |
| WULF | TeraWulf | Mines bitcoin | Stays on its curve |
The numbers
To launch
1 payment
In ZEC, to the one address shown. The amount is on the launch page before you send anything.
Creator fee
2%
Of trades in the coin, to the founder who launched it.
Basket size
2 to 6
Stocks per basket, with fixed weights set at creation.
Chain
Robinhood
Markets settle on Robinhood Chain, chain id 4663. Trading a coin after launch takes a wallet there and a little ETH for gas. Launching does not.
The honest part
Not a floor
Backing is what sits in the curve. It is not a price floor or a redemption right on the coin itself. Tokenized stocks move, and coins move more.
Not insured
Nothing on Proxypad is insured or guaranteed by anyone. You can lose what you put in.
Not custody
What buyers put in sits in the curve, not with Proxypad. Every trade is a transaction you read and sign in your own wallet.