Docs

How Mitra works.

The mechanism, the exact formulae the contracts use, where the contracts are, and how to check all of it yourself.

UNAUDITED. Mitra's contracts have not been independently audited. Testnet only until an audit is accepted.

Mechanism

Anyone can launch a token. Each token is its own bonding curve: you buy from it and sell back to it in ETH. Every buy and sell pays a fee. In the same transaction the fee is split three ways: a share to everyone holding the token at that moment (except the trader), a share to the token’s creator, and a share to the platform. Holders claim what has accrued to them whenever they choose.

There is no market-maker pool and no migration to another exchange in this version. Trading happens only against the curve. The contracts have no owner over tokens, no upgrades and no pause.

Fees and formulae

Fixed at deployment as immutable values, the same for every token. Integer maths, rounding down:

fee      = floor(value × 100 / 10 000)        // 1.00%
creator  = floor(fee × 3000 / 10 000)       // 30%
platform = floor(fee × 2000 / 10 000)       // 20%
holders  = fee − creator − platform               // 50%, plus every rounding remainder

On a buy, value is the ETH you send. On a sell, it is the ETH the curve releases; you receive that minus the fee. Try a worked example on the home page.

How holders accrue

Each token keeps one running number, acc: the holders’ ETH per token unit, scaled by 2¹²⁸. On every trade:

eligible = supply held by accruing addresses − the trader's balance
acc     += (holders × 2¹²⁸ + carry) / eligible
carry    = the remainder of that division (kept, never lost)

claimable(you) = (acc × balance + correction) / 2¹²⁸ − withdrawn

Your correction changes whenever your balance changes, so tokens you receive start accruing from that moment, and fees that accrued before you sold or transferred stay yours. If fewer than 1,000 tokens are held by accruing addresses, the holders’ share is carried to the next trade. The curve itself, the burn address and the Uniswap v4 PoolManager (0x8366a39CC670B4001A1121B8F6A443A643e40951) never accrue.

Bonding curve

Constant product with virtual reserves:

x = 1 ETH (virtual) + reserve
y = tokens left on the curve + 250,000,000 (virtual tail)
x × y = k, constant;   tokensOut = y − ⌈k / (x + ethIn)⌉
price = x / y ETH per token

Total supply is 1,000,000,000 tokens, all minted to the curve at launch. The virtual tail means the curve never runs out of price: the last tokens get expensive rather than unavailable. Every token held can always be sold back; the reserve covers a full sell-back of the supply (an invariant test checks this).

Launching

There is no launch fee. You pay gas. The launch transaction can include a first buy by the creator, which pays the normal fee and is capped at 5% of supply (at most about 0.0420 ETH). The token page shows it.

The launch commits to the keccak-256 hash of the token’s metadata (name, ticker, description, image address). Anyone can fetch /api/metadata/<hash> and recompute it.

Contracts

Source: packages/contracts/src in the repository, also readable in the code explorer. Each token is a MitraToken created by the MitraLaunchpad.

MitraLaunchpad, Robinhood Chain Testnet: 0xd25302fb109a62542e395bf9cccb5617d685a946 (verified source, deployed at block 137752552)
MitraLaunchpad, Robinhood Chain: Not deployed. Locked until an independent audit is accepted.

The launchpad owner can only switch new launches on or off. It cannot touch existing tokens, their trading, claims or ETH.

Networks

Network: Robinhood Chain Testnet
Chain ID: 46630
Gas token: ETH (test ETH, no value)
Public RPC: https://rpc.testnet.chain.robinhood.com
Explorer: https://explorer.testnet.chain.robinhood.com
Faucet: https://faucet.testnet.chain.robinhood.com

Network: Robinhood Chain
Chain ID: 4663
Gas token: ETH
Public RPC: https://rpc.mainnet.chain.robinhood.com
Explorer: https://robinhoodchain.blockscout.com

Mitra runs on testnet. Mainnet deployment is locked in the deploy script until an audit is accepted.

Checking for yourself

Every number about money on Mitra’s token pages is read from the contract, not from Mitra’s database. On the explorer you can call the same views: claimable(address), quoteBuy(value), quoteSell(amount), requiredBalance() (what the contract must hold) and compare it with the contract’s ETH balance.

Risks

The contracts are unaudited and experimental. Read the full risks page before you use Mitra.

Glossary

Bonding curve: A formula that sets the price of each trade from the reserves, with no order book.
Fee share: The part of each trade’s fee that goes to holders, the creator or the platform.
Accrued: Credited to you by the contract but not yet sent to your wallet.
Claim: A transaction that sends what has accrued to your wallet.
Slippage: How far the price may move between your quote and your transaction before it is refused.
Price impact: How much your own trade moves the price along the curve.
Basis point: One hundredth of a percent. 100 basis points = 1%.
Testnet: A network for testing, using tokens with no value.
Unaudited: Not reviewed by an independent security firm.