Risk disclosures

Merry Men removes several structural risks by construction, but it does not make launched tokens safe investments. This page states plainly what the design protects against and what it does not.

Not financial or legal advice

Nothing here is a promise of return, yield, or value. Launched tokens are volatile and can go to zero. Do your own research and never risk more than you can afford to lose.

What the design protects against

These hold structurally, not by policy:

• Rug pulls via liquidity removal. The launch position NFT is held by a locker that never releases it. Liquidity is locked forever; only trading fees can be extracted. There is no code path that moves locked liquidity out.
• Malicious token contracts. The launch token is inert: no owner, mint, pause, blacklist, transfer tax, or upgrade path. Supply is fixed forever. A creator cannot mint, freeze, or tax after launch.
• Migration exploits. There is no bonding curve and no migration step, so the migration window, the classic launchpad exploit surface, does not exist.
• Half-completed launches. A launch either fully completes (token + pool + locked single-sided position) or reverts. A mispriced launch reverts wholesale rather than stranding supply.

What it does not protect against

• Market risk. Price can fall to zero. Locked liquidity guarantees a token is tradeable, not that it holds value. The liquidity floor only reflects the WETH buyers have already put in.
• Snipers and MEV. A launch is live on Uniswap V3 from block one, so the launch transaction is snipeable like any V3 pool. v1 ships no anti-snipe mechanism by default. Use standard slippage protection on every trade.
• Bad actors around the token. The protocol cannot stop a creator from promoting dishonestly, abandoning a project, or coordinating off-platform. Page control and the fee stream are the only things it can arbitrate (see Community takeovers).
• Concentration. Nothing prevents a creator or early buyer from holding a large share of supply and selling into the pool.

Audit status

• The core launch contracts (factory, locker, token) are covered by an extensive Foundry test suite: invariant and fork tests against real Uniswap V3, with 100% line / statement / branch / function coverage on the core contracts.
• The buyback treasury is unaudited. It is immutable and holds protocol revenue; a third-party audit and bug bounty are strongly recommended before it holds significant value. Testing is thorough, but coverage is not the same as an external audit.

Test coverage is a strong signal, not a guarantee of correctness. Treat unaudited components accordingly.

Off-chain components

Some things live off-chain and carry their own trust assumptions:

• Graduation is an off-chain milestone badge computed by the indexer. It moves no funds and is not a bonding-curve state. Do not treat it as a migration or a safety guarantee. See Graduation.
• Coin metadata (logo, description, socials) is off-chain and controlled by the steward or creator. It can be changed and should not be treated as immutable or verified.
• The indexer / public API is a convenience layer. For anything you rely on, verify against the chain: pools, balances, and fees are all readable on-chain.

The pooled buyback model

All tokens’ fees fund a single buyback pool, but only qualifying tokens are bought back. Holders of tokens that never qualify are therefore contributing to platform-wide burns. This is intentional and stated openly: qualification is open to every token on identical public rules. See Fees and burns.

No native token

The platform has no native token and takes no team or insider allocation in any launched token. Everything the buyback treasury purchases is burned; there is no held inventory anyone can sell.

Regulatory framing

Fee-funded buybacks of tokens the platform helps launch can attract regulatory attention depending on jurisdiction and how they are marketed, particularly if presented as a return, yield, or guarantee. Public framing is kept neutral and descriptive. This documentation is not legal advice; regulations vary by jurisdiction and change over time.

Integration risk

Integrators should note that testnet and mainnet ship different Uniswap routers with different ABIs (SwapRouter02 on mainnet vs the original SwapRouter on testnet). Encoding a swap for the wrong variant will revert. See Contract addresses.