how it works
There is no queue, no competition and no waiting. A token launched here has a live price and a chart from the block it is created in.
The lifecycle
One transaction creates the token and its market. The supply is fixed at 1,000,000,000 and there is no mint function, no owner and no blacklist. A creator can make an opening buy in the same transaction, at the same price as everybody else — being first in line is the only advantage it confers.
800,000,000 tokens sell along a constant-product curve, so the price rises as supply is taken and falls when it is sold back. Buys and sells both work at any moment; nothing locks.
When the curve has taken its full reserve, the market graduates. The entire reserve and the remaining 200,000,000 tokens are paired into a Uniswap v4 pool, and the liquidity is sunk into a contract with no withdrawal function. Anyone can trigger this — it is permissionless and whoever pays the gas does not change the outcome.
Fees
Buys and sells both pay 1% of the quote amount. Nothing else is charged: no launch fee, no listing fee, no graduation fee.
Most of that fee goes back to the wallets that produced it. The share is an immutable constant in the fee contract and it steps down to 30% when the window closes — no key can change either number, or the date.
The code that would remove a graduated pool's liquidity was never written. Not time-locked, not escrowed behind a promise — absent from the contract.
What you should check yourself
The rewards page reads every figure it shows from the fee vault at the current block. The contract address is printed at the bottom of that page; the numbers should agree with the explorer.
Distributions are paid against a merkle root, and an operator computes that root from trade history. It cannot exceed the rewards pool, cannot reach the protocol's share, and cannot rewrite a published round. Because every trade is an on-chain event, a wrong root is provable by anyone.