How Sashimi works

Everything the site does is a contract call or a read of on-chain events. This page explains each one in plain language and links the addresses.

Overview

Sashimi.fun is a memecoin launchpad on Arc, Circle's USDC-native blockchain. Anyone can launch a token for 1 USDC. The token is immediately tradable on a bonding curve. When the curve completes at a $40,000 market cap, the raised USDC seeds a Uniswap V3 pool whose liquidity position is locked forever. Creators earn a share of every trade in USDC.

There are no accounts. Your wallet is your identity, every quote is read from the contract, and every number on the site is derived from chain events by an open indexer.

How it works

1. Launch. Name, ticker, image, description and links. The factory deploys a fresh immutable ERC-20 (1B supply), registers it with the curve engine and initialises its future Uniswap V3 pool in the same transaction, which closes the pre-created-pool front-run. Cost: 1 USDC plus gas.
2. Trade. Buys and sells go through the curve engine in USDC. Tokens are transfer-locked until graduation, so the only way to hold one is to buy it on the curve, which is what makes the holder data exact.
3. Graduate. The buy that sells the 800-millionth token completes the curve. In that same transaction the engine takes a 2% fee, sends the rest of the USDC and the 200M LP reserve to the graduator, which mints a full-range Uniswap V3 position and hands the NFT to a locker with no withdraw function. Left-over tokens are burned.
4. Earn. Creators claim accrued USDC fees any time. After graduation the pool's fees are collected permissionlessly: 20% compounds into the position, the remainder is split between the creator and the protocol.

The curve

A constant-product curve with virtual reserves. Price in USDC per token is

p(s) = (V_USDC + raised) / (V_TOKEN − s) with V_USDC = 2,666.67 USDC and V_TOKEN = 1,066,666,667 tokens, where s is the number of tokens sold so far.

Fees

Gas on Arc is paid in USDC and is a fraction of a cent per transaction.

Graduation, precisely

• The pool for every token is created and initialised at the exact graduation price when the token is launched, so nobody can pre-create it at a different price.
• At graduation the graduator checks the pool's current price; if anyone drifted it, a zero-liquidity limit swap restores the exact protocol price before minting.
• The position is full-range on the 1% fee tier. The LP NFT is custodied by the locker contract, which has no transfer, burn or withdraw function.
• Post-graduation trades happen on Uniswap V3 directly. The site routes swaps through the network's V3 router and keeps indexing the pool so charts, trades and P&L continue seamlessly.

Risk signals

Every token page shows structural signals computed from chain events, with thresholds and colours that never say "safe":

• Dev holdings: the creator's balance ÷ circulating supply. The disclosed dev-buy counts here.
• Top-10 concentration: the ten largest balances ÷ circulating supply.
• Snipers: supply bought within 60 seconds of launch and still held, net of later sells.
• Bundled wallets: buyers sharing a block with two or more other buyers.
• Common-funder cluster: buyers whose USDC came from the same wallet shortly before launch.
• Creator history: every previous launch by the same wallet and how it went.

Before graduation these figures are exact because tokens are transfer-locked. After graduation they continue from pool swaps only and are indicative.

Which pool does a token graduate into?

The pool is created in the graduating transaction itself, never earlier, so nobody can prepare it. Sashimi first creates the token's pool in the Arc-wide community Uniswap V3. If someone pre-created that pool and moved its price, it is ignored and the pool is created in Sashimi's house Uniswap V3 instead, a byte-identical deployment whose pools only the graduator can create. Either way the pool opens at exactly the graduation price with the full raise locked. As a last line of defence, if locking ever fails for an unexpected reason the raise stays escrowed in the engine, the token shows FINALIZING, and anyone can press Finalize liquidity.

Points & referrals

Sashimi Points accrue automatically: 1 point per $1 traded (curve or V3), +50 for every wallet you refer that goes on to trade, and +20 once for you when you trade after being referred. Referrals are linked by a gasless wallet signature, one referrer per wallet, no self-referrals. Points are a ledger, not a token; what they become is announced separately. See the leaderboard.

Wallet setup

You need a wallet with USDC on Arc. Arc is a new network and most wallets don't list it yet — add it with one click:

Add Arc to wallet

The RPC above is Sashimi's own read/broadcast proxy. It never sees your keys: wallets sign locally and only send signed transactions through it.

Contracts

Every Sashimi token is a fresh deployment of one immutable template: no owner, no mint, no tax, no blacklist, no pause. The engine cannot pause sells or move curve reserves; its owner can at most pause new launches and change where future protocol fees go.

Public API

Read-only JSON, no key required, refreshed from the chain every few seconds. Please cache for at least 5 seconds.