Pairs
A coin is paired with HYPE (as WHYPE), with USDC, or with one of the wrapped xStocks below. The pair is currency1 of the pool, the asset the coin is priced in, and the asset every fee and reward is paid in. The router reaches a stock from HYPE through the pool listed here; a stock with no route trades in the stock itself.
The stocks are xStocks by Backed Finance, in their wrapped form on HyperEVM. A wrapped xStock is an ERC-4626 share of the xStock, so 1 wNVDAx is worth about 1.0017 NVDAx today and the ratio drifts up as the wrapper accrues. xStocks are backed 1:1 by the underlying share; every xStock has the same contract address on every EVM chain and moves to HyperEVM over CCIP. About 1,350 products exist, and Liqio lists the ones whose HyperEVM pools have depth. The stock tokens are issued by Backed, not by Liqio: Liqio shows them for information and does not issue, custody or redeem them, and the issuer's own terms apply to holding them. The stock's price follows NYSE hours while the pool trades at any hour, so a stock-paired coin's USD value can move away from the share's last close outside market hours. The list of pair tokens is fixed at deployment in the oracle: nobody can add, remove or block a pair. A new pair token means a new Liqio version with its own factory and oracle, and coins on an older version keep trading there.
Starting market cap
Every coin opens at a USD market cap chosen from the factory's presets, whatever the pair. The presets are fixed at deployment: $3,000, $10,000 and $25,000. They are shown on the launch form and returned bycapPresets(), and nobody can change them. The launch passes the index of the preset; the factory reads the pair's USD price from the oracle and sets the pool's opening price so that the whole supply is worth that amount. A higher start means the first buys move the price less. The cap a coin launched at is recorded in capOf(token) and never changes.
Flat fee
A single percentage from 0.1% to 3% (1% by default on the form), charged on every buy and every sell, measured and kept in the paired asset. The pool's own LP fee is 0, so the hook fee is the only fee the pool charges. The split is 60% creator / 40% platform after the holder-rewards and buyback shares. The creator's share accrues in the hook and is paid out bypayCreator(token), which anyone can call, or by claimCreatorFees(token) on the factory, which also counts as creator activity. Details are on Fees and anti-snipe.
Anti-snipe
An optional extra fee on buys during the first blocks after launch. The creator sets a start percentage (above the flat fee, at most 30%) and a window (5 to 7,200 blocks; the form takes a duration and stores it as blocks, and HyperEVM produces about one small block a second, so 7,200 blocks is about two hours). In each block the buy fee isfee = start - (start - flat) * blocksSinceLaunch / window
The anti-snipe fee is split like any other fee. The creator's dev buy in the launch block pays the flat fee.
Holder rewards
An optional share of every fee, up to 50%, paid to holders in the paired asset. The hook puts the share into a pot per coin.pushDividends(token) on the hook, callable by anyone, moves the pot to the coin, which records it against the balances held at that moment. Each holder then claims with claimDividends() and receives the paired asset: HYPE for a HYPE pair, USDC for a USDC pair, the stock token for a stock pair. withdrawableDividends(address) shows what a holder can claim.
- Rewards are pro-rata to balance. Transfers carry no fee and are never blocked; the bookkeeping just keeps each holder's accrued amount unchanged as balances move.
- The PoolManager (the pool's coins), the factory, the hook, the router and the coin contract itself hold no claimable shares.
- A push needs at least 100,000 coins (0.01% of the supply) held by ordinary wallets; otherwise it reverts and the pot keeps accruing.
- The share is fixed at launch and cannot be added, removed or changed later. Holder rewards and buyback together may take at most 80% of the fee.
Buyback and burn
An optional share of every fee, 10% to 50% on the form, that accumulates in a pot per coin in the paired asset. Once the pot reaches the threshold the creator set (a pair amount; the form takes it in dollars, $5 to $10,000, and converts it at the pair's price), the next swap in the pool spends the pot buying the coin in its own pool and burns what it bought, inside that same swap. A burn stops early once it has moved the price about 3% up; what is left stays in the pot for the next one. Anyone can trigger a burn before the threshold withbuybackBurn(token). Each burn emits BuybackBurned(token, pairIn, coinsBurned), and the site's Rewards page lists them.
Max wallet
An optional cap on how much one wallet can buy from the pool while an opening window runs: a share of the supply from 0.5% to 20% and a window from 10 minutes to 30 days (the form takes hours). The hook counts gross purchases per originating wallet (tx.origin) and reverts a buy that would take the total over the cap with BuyCapExceeded; selling does not refill the allowance, which is what stops buy-sell-rebuy cycling. Sells and plain transfers are never touched, and the ledger stops mattering when the window ends. Smart-wallet buys relayed through one bundler share that bundler's allowance for the window.
Dev buy
Any HYPE sent with the launch becomes the creator's first buy. The router converts it to the paired asset (no conversion for HYPE), the factory swaps it in the new pool at the opening price, and the coins go to the creator. The pool accepts no other buy in the launch block, so the dev buy cannot be front-run. The amount and the coins received are public in theDevBought event. The form allows up to 50 HYPE. A stock with no HYPE route has no dev buy; buy after launch with the stock itself.
Cashback and referral
Out of the platform's 40% only, a cashback share goes back to the trader and a referral share to the trader's referrer. Both shares are constants: 25% cashback and 25% referral of the platform part. The creator's share and the holder and buyback pots are never touched. The router names the trader and an optional referrer on every trade; a referrer binds to a trader once, on their first referred trade, and never to themselves. Rewards accrue per user and per pair asset on the hook and are paid byclaimRewards(pairs[]) (HYPE for a HYPE pair). The site's Rewards page shows and claims them, and a ?ref= link carries the referrer.
Creator role and takeover
The creator is the address that launched the coin. It receives 60% of fees after the pots, can set the coin's displayed metadata on the factory (setCreatorMetadata; nobody else can set or override it), and can hand the role over in two steps (transferCreator, then acceptCreator by the new creator). Claiming fees through the factory (claimCreatorFees), editing metadata, transferring, or simply calling poke(token) marks the creator active.
Once a creator has been idle for 30 days, anyone can propose a new creator by staking at least 5% of the supply (50,000,000 coins) in the factory with proposeTakeover. A bigger stake replaces a running proposal: the earlier stake is returned and the 7-day clock restarts. The creator can cancel at any time during those 7 days, and any creator action blocks execution; after 7 days anyone calls executeTakeover, the old creator is paid what they are owed, the role moves and the stake goes back to its proposer. A staked coin earns no holder rewards while it sits in the factory. The site's Takeover page shows each coin's creator status.