Pair assets
Every launch is priced in one pair asset, chosen at launch and fixed for life. That asset is the currency of the whole launch: you buy with it, you sell for it, the graduation threshold is counted in it, the pool is paired with it, and everyone who earns from the token is paid in it: creator, holders and scorers.
Nothing in the process quietly converts between assets.
What can be a pair asset
| Asset | Notes |
|---|---|
| ETH | The default. Graduates at 5 ETH |
| USDG | A dollar stablecoin (6 decimals). Graduates at 12,500 USDG |
| Tokenized stocks | Every tokenized stock issued on Robinhood Chain: 194 at launch, such as NVIDIA, Tesla and AMD. Graduates at about $12,500 of the stock |
Only assets in Eden's approved pair registry can be used. Nobody else can add one, so a creator cannot pair a launch against a worthless token they made in order to manufacture a price. Approval is a judgement that an asset is technically suitable for pairing: standard transfers, fixed decimals, a reliable price. It is not an endorsement of the asset.
Eden can stop approving new launches against an asset at any time. That never affects launches already trading against it.
Paying with something else
You don't have to hold the pair asset to buy. Eden's zap swaps what you pay with into the pair asset and buys the launch in one transaction:
- Pay with ETH on any launch. ETH is routed through the deepest available pool, directly or through USDG.
- Pay with USDG on any stock-paired launch.
- Sell for ETH: sell a stock-paired token and receive ETH in the same transaction.
The zap only ever delivers to the wallet that signed. It holds nothing between transactions, and each hop carries its own minimum-output check.
One confirmation per trade
Where your wallet allows it, a trade is a single confirmation:
- USDG and the tokenized stocks support signed permits (EIP-2612), so the approval is part of the trade.
- Wallets that support batched calls (EIP-5792) confirm the approval and the trade together.
- Launch tokens have no permit. The first sell on a wallet that cannot batch needs one approval.
What it changes for you
Buyers. Prices are quoted in the pair asset. A token priced at 0.5 of a stock can rise against that stock while falling in dollar terms if the stock falls. Eden shows a dollar value next to every quote; watch both.
Creators. Your fees arrive in the pair asset you chose, and you cannot switch it later. A stock pair means your income is exposed to that stock.
Holders and scorers. Payouts are in the pair asset too.
The risk you take on
A launch priced in something other than ETH carries that asset's risk on top of its own:
- Price. If the pair asset falls, your position falls with it, even if the launch holds steady.
- Liquidity. If the pair asset becomes hard to trade, so does the launch, because its pool is paired directly against it.
- Issuer controls. Tokenized stocks are issued by Robinhood. The issuer can block addresses or pause transfers, and Eden cannot override that.
- Graduation cost. The threshold is measured in the pair asset. If a stock doubles, the real cost of graduating a launch on that stock doubles too. New launches are re-priced if a stock moves more than 5 %, but existing launches keep their terms.
Buybacks for stock pairs
Fees bound for the ROOT buyback are swapped to ROOT through ETH. Stocks without a liquid route to ETH accumulate in the buyback vault until one exists. They are never sold into a thin pool.