Overview
A launchpad on Robinhood Chain where every coin is backed by a leveraged stock position.
Multiplex is two things behind one app: a quote book that makes a market in leveraged stock tokens against USDG, and a launchpad that opens each new coin on a bonding curve priced in one of those tokens.
The difference from every other launchpad is what sits on the other side of the trade. Most pair a new coin against a stablecoin, so its price only moves when somebody buys or sells. Here each coin is paired against a leveraged stock token, so its price moves for two reasons at once:
- People trade it. Buying pushes the price up, selling pushes it down.
- The stock moves. If the underlying stock rises, every coin paired against it rises too, with nobody trading at all.
That second one is the point. A coin paired against a 5x NVDA position can go up overnight because NVDA went up overnight.
How the price works
One published price, refreshed every ten seconds. No slippage from size.
Launching a coin
A fixed supply of 1 billion, 80% of it on a bonding curve.
Reading the chain
Every price, chart and trade, straight from the chain. No API key.
Contract addresses
Verify what you are interacting with.
Two things to know first
You only ever handle ETH or USDG. Every route converts inside the same transaction, so you never need to hold a leveraged token to trade a coin paired against one.
A coin's price is where its pool is, not what the last trade paid. A large buy walks up the curve and pays its average price on the way, which is lower than the price it leaves behind. Both numbers are real; the one shown is the pool's.
Leverage cuts both ways. A coin paired against a 5x position falls roughly five times as fast when the stock drops, and leveraged tokens also lose value slowly in choppy, directionless markets. Tokens can go to zero, and transactions cannot be reversed.