How it works
Every token here is pegged to one Pokémon card, one to one. This page covers the whole system: what the peg is and is not, where the card prices come from, and what happens on the curve before and after graduation.
Overview
A token here is two things at once. It is an ordinary pons v2 launch: a bonding curve holding the entire supply, tradeable from the first block, graduating into a pool with permanently locked liquidity. It also carries a reference: the market price of one specific Pokémon card.
The card is chosen once, at launch, and written into the launch record along with the exact listing it is quoted against and what that listing cost at the time. It cannot be changed afterwards by the creator, by us, or by anyone holding the token.
Choose
Pick a card from the catalogue and name the token. The pairing and the price at that moment are recorded at creation.
Trade
The token trades on its bonding curve immediately. Anyone can buy or sell from the first block.
Compare
The card's price is refreshed on a schedule, and every page shows the token against it, including how far apart they are.
The peg
The peg is a price relationship. One token is worth what one card is worth. If a Base Set Charizard holo is quoted at $900, the token pegged to it has a target price of $900.
There is no ratio and no supply arithmetic in that line, and that is the point of the design. A card has a price. A token has a price. They are the same kind of number, so they are set equal. Nothing has to be divided by a supply figure, and there is no scaling constant for anyone to misread.
The peg is not redemption. A token cannot be exchanged for a card, and there is no inventory of cards held behind these tokens. It is a price the market is pushed toward, not a claim on an object.
Where prices come from
Card prices are TCGplayer market prices, served by TCGdex and refreshed on a schedule. The market price is TCGplayer's own estimate from recent sales, not the cheapest listing: on a thin item the lowest listing is often a single outlier far below the market, and quoting it would misprice the peg on every page at once. When TCGplayer publishes no market figure for a listing, its mid price is used instead.
The peg is always quoted against one exact listing, because a card is not one asset. A 1st Edition holo and an unlimited holo of the same card are different items at different prices, and a reverse holo is different again. The specific listing is fixed at launch and shown on the token page.
TCGdex
Names, sets, artwork, rarity and which printings exist.
TCGplayer
Market price per listing, through TCGdex, refreshed daily and whenever a card is opened.
Accumulated here
Neither source serves a history, so the series is recorded on each refresh.
When the feed is unreachable, the last known price is held and marked as unavailable rather than dropped to zero. A zero would show a Shining Charizard pegged at nothing.
Drift
Drift is the gap between what a token trades at and what its card is worth. It is the number the whole system is built around, and it is on every market row and every token page.
Positive drift means the token trades richer than the card it tracks. Negative means cheaper. A token at exactly its reference has zero drift, which is the state the design points toward but does not pin: a peg held rigidly at one price is a peg with no market in it. Inside a ±5% band a token counts as on peg.
Drift is measured against the exact listing the token was launched against, so it is never distorted by a printing that is not the one being tracked. It is recomputed every time the reference refreshes.
Be clear-eyed about scale. A launch mints 1,000,000,000 tokens to the curve, and a curve opens at a market cap of a few ETH. A token whose target is a $900 card therefore opens with drift near −100% and closes the gap only as its market cap grows. The reference is information about how far the market is from the card, not a promise that it will get there.
Convergence
A reference price on its own does nothing. On this site, today, nothing trades against drift automatically: the 2% creator fee goes to the creator's own wallet, and no contract reads a card price. What closes the gap is people. Because the reference is public, any gap between the two prices is a visible trade for anyone who wants to take it.
The catalogue
The catalogue is the 300 most valuable English Pokémon cards, ranked by TCGplayer market price. It is built rather than curated: every card TCGdex knows (about 23,000) is joined to its live listings, and the top of that list is what you can peg against.
It is one row per printing, not per listing. A card can trade as several separate items once holo, reverse holo, 1st Edition and unlimited are counted; every priced listing is still kept and shown, and each can be pegged separately.
The list is rebuilt from time to time (last build 2026-09-09), so the ranking reflects what cards are actually worth. A token already launched is unaffected by a reranking, because it is pegged to a card, not to a rank. Two tokens may be pegged to the same card. Nothing is reserved, and being first confers no claim.
Lifecycle
Create
You choose the card, set a name, ticker, image and links, and pay the launch fee. The entire supply is minted straight to a bonding curve. Nobody, including you, is holding a bag set aside beforehand. A dev buy, if you add one, happens in the same transaction.
Trade the curve
Anyone can buy and sell immediately. Price rises as people buy and falls as they sell, and the curve always takes the other side, so there is never a wait for liquidity.
Graduate
Once the curve sells out, everything it collected seeds a Uniswap v4 pool and that liquidity is locked permanently. There is no unlock and no privileged wallet that can reach it.
Track
The token trades in its pool, and every surface keeps showing it against the card it references.
Bonding curve
A bonding curve is a vending machine. It holds the whole supply from the moment of launch and will always sell you tokens and always buy them back. The price is worked out from how much of the supply has been bought so far, not set by anyone, and not negotiated.
This is why a token is tradeable in its first block with nobody providing liquidity. It is also why early buys are cheaper than late ones: the price is a function of how much has already been sold, so the curve climbs as supply leaves it. A portion of the supply is held back from the curve and reserved for the pool the token graduates into; that reserved amount is set by the launch configuration rather than by the creator.
Graduation
When the curve has sold its sellable supply, the launch graduates. Everything the curve collected, together with the reserved supply, seeds a Uniswap v4 pool, and the liquidity position is locked permanently. There is no timelock that expires, no multisig that can withdraw it and no admin function that can move it.
Graduating is not a quality signal. It means the curve sold out and nothing more. A token that graduates can still trade down afterwards, like anything else.
Fees
set by pons
Paid once in ETH, when you create the token. Shown on the launch page.
1.00%
Charged by pons on trades against the bonding curve.
2%
Charged on every trade, paid to the creator's wallet through the pons escrow.
pons hook
After graduation the v4 hook keeps charging the creator fee.
Fees are always charged in ETH, the asset every token here trades against, never in the token itself. The creator fee is the same 2% for every token on the platform. It is not a setting. Creators collect it on the creator fees page: fees accrue on the curve, then sit in the pons escrow until claimed.
Contracts
Everything runs on the pons v2 contracts on Robinhood Chain, chain id 4663. Each launch gets its own token and curve, which you should resolve from the factory rather than hardcoding.
This site is non-custodial: your wallet signs every transaction, and the launch itself happens on pons. The site keeps an index of tokens launched through it and the card each one is pegged to.
Risks
- Nothing defends the peg. Drift is published, but no vault, keeper or contract trades against it. A token can trade at any fraction or multiple of its card for as long as people keep it there.
- A token is not a card. It cannot be redeemed for one, there is no inventory behind it, and nobody is obliged to buy it from you.
- The price feed can fail. It depends on third parties. If it stops, the reference goes stale and is shown as unavailable rather than wrong.
- Card prices are volatile and thin. The most valuable cards trade rarely, and a market figure can move a long way on a handful of sales, a grading trend or a reprint announcement.
- Nintendo, Creatures and GAME FREAK are not involved. Pokémon, the card names and the artwork belong to them and The Pokémon Company. There is no relationship, endorsement or obligation of any kind.
- Names are not unique. Anyone can create a token with any name, including one that impersonates a real project. Check the contract address, which is the only identifier that cannot be copied.
- Graduating is not a quality signal. It only means the curve sold out.
- Transactions are irreversible. They are signed by your own wallet.
FAQ
Can I redeem a token for the card?+
No. The peg is a price reference, not a claim. There is no inventory of cards behind these tokens and no mechanism to exchange one for the other.
Is anything defending the peg today?+
No. Drift is published on every surface, but nothing trades against it automatically. Treat the reference as information, not protection.
Which printing is the peg quoted against?+
The exact TCGplayer listing chosen at launch, shown on the token page. The launch form defaults to the most valuable priced listing of the card; pick another one if that is what you mean to track.
Can the peg be changed after launch?+
No. The card and the listing are written into the launch record and are fixed for the life of the token.
Can two tokens peg to the same card?+
Yes. Nothing is reserved and being first confers no claim.
What about graded cards, PSA 10 and so on?+
The catalogue tracks raw (ungraded) TCGplayer listings. Graded prices are a different market with no free, reliable feed; they are not on this site.
What if the card has no market price?+
The last known price is held and marked as unavailable rather than dropping to zero. The token keeps trading either way.
Who receives the creator fee?+
The wallet that launched the token, through the pons fee escrow. The same 2% for everyone.
Can locked liquidity ever be withdrawn?+
No. There is no timelock that expires and no function that can move it.
Ready to launch?
The whole thing takes one transaction on cardboard.