Where the fees go
The token tax is fixed at 2.5%. Pons’s base fee is separate and must be verified for the selected launch configuration; 2.5% alone is not a quote for the total trading fee. Lean takes 10% of the fees its receiver actually receives for its treasury. All of the remaining 90% funds one long for that token. There is no adjustable long share or separate creator fee payout.
Example: $100 reaches Lean → $10 treasury + $90 toward the token’s long.
The $100 is received fee revenue, not trade volume and not the total fee paid to Pons. A $100 trade therefore does not send $90 into the long. Swaps, funding, venue costs and market losses can affect the value that ultimately backs units.
Tokens and units
The tradable token and its position units are separate. Buying the token makes that wallet’s eligible holding time count toward future allocations. A recorded strategy deposit mints units using the accepted NAV, or net asset value. The allocation process assigns those units using eligible balances over time.
Example: a $90 recorded deposit at $1.20 per unit mints 75 units. The deposit adds both backing and units; it does not give existing holders an instant $90 windfall.
Protocol addresses and other excluded balances do not receive an allocation. The allocation’s eligibility rules and evidence must be checked; an address’s visible token balance alone does not establish a claimable amount.
Claim your units
A claim records units already allocated to your wallet. It does not buy the long again, pay USDG, or burn your tradable tokens. Units already allocated count toward outstanding NAV before you claim them. A claim requires a current, activated allocation proof for the correct token, wallet and economic series.
For example, if you have 18 activated units waiting, claiming moves those 18 into your available unit balance. It does not change your slice’s value at that instant. An allocation under review or awaiting activation is not yet claimable.
Your slice and P&L
Unit price is backing after liabilities divided by outstanding units. A token’s equity, identified in-transit assets and buffer contribute to backing; fixed redemption debts are subtracted. A stale, provisional or insolvent account does not provide a current spendable NAV quote.
Example: $1,000 NAV ÷ 1,000 units = $1 per unit. Your 100 units are worth $100. If NAV becomes $1,200 with the same units, your slice is $120 (+$20). If NAV becomes $800, it is $80 (−$20).
This example holds unit supply constant and ignores costs. It describes a change in the slice’s value, not your total trading profit: the price you paid for the tradable token, later token sales, gas and other costs are separate. Leverage can magnify gains and losses, and liquidation can destroy backing.
Partial and full redemptions
First claim available units, then choose how many to redeem. A request locks those units in the queue. They remain exposed to the position until the first confirmed closing NAV prices the request. The indicative value shown when you request is not a fixed payout.
Partial example: you have 100 units and request 40. The display price is $1.20, so $48 is indicative. The closing price becomes $1.10: your 40 units become a fixed $44 USDG debt. You retain 60 units, worth $66 at that closing price.
After pricing, conversion and token-specific funding must complete before you withdraw. Once the $44 debt is funded, its principal is no longer exposed to later position prices. Withdrawing pays that reserved $44 and marks the request paid; you cannot withdraw it twice.
Full example: later you redeem your remaining 60 units at a $1.25 closing price. That request fixes $75. After both debts are funded and withdrawn, you receive $119 total ($44 + $75) and hold no position units from this example.
Redeeming all of your units is different from every holder redeeming all outstanding units. Neither action sells your tradable token. A request at 10:20 may be priced by the next accepted hourly close, but confirmation, review, liquidity and venue processing can delay pricing or funding. There is no guaranteed one-hour or 24-hour payout. A withdrawals pause can also block a funded claim.
Selling the token
Selling the tradable token does not sell or cancel units already allocated to your wallet. You can still claim eligible previously allocated units and redeem your remaining units. Your future allocation changes with your eligible holding time; the buyer begins earning through its own holding time. A token sale does not transfer a pending redemption debt to the buyer.
A new series and old claims
If all outstanding units are priced for redemption, the old economic series closes. Existing funded principal stays reserved for its original request owners. A later series can start only after the required reconciliation and backing checks; it does not require every old holder to withdraw first. Its minimum claim epoch prevents old allocation proofs from creating units in the new series.
Old venue recoveries or rounding residue can belong to the closed cohort. That money is accounted for separately from new-series backing. A residue claim pays the immutable original redemption recipient, not whichever wallet calls it. It is separate from withdrawing already funded principal, and a later recovery can add another residue claim.
A later series’s loss does not consume protected old funded principal. Explicit withdrawal pauses still apply. This page does not promise a residue balance: an actual credited amount and the correct request must be verified before a claim can be offered.
Launching and an optional buy
A creator chooses the token’s name, ticker, image, supported pairing and one market on the selected network. The market’s own metadata determines leverage limits. An unsupported network, spot market, unavailable market or unsupported execution path must show its reason, rather than substitute another market or quote.
The website is fixed to https://www.lean.markets/token/<actual-contract-address>. It must use the token address verified from the actual launch. Demo tokens use /demo/token/ pages and do not pretend to have contract addresses.
An optional DEV BUY spends the selected quote asset and sends the bought tokens to the creator wallet in the same launch transaction. Review the asset and decimals, launch fee, exact buy amount, minimum tokens received and total wallet spend. Native-asset and token-based buys differ: a token-based buy also requires an explicit allowance. No real quote or address is invented while launch is unavailable.
The demo offers synthetic ETH and USDG examples with a disclosed fixed price. Its approval, output and fee calculations are an educational simulation, not a real Pons curve quote.