04 — Docs

How Dojo
works

What launching a coin against another coin means, what decides what you can pair with, and where every fee goes.

What it is

Most launchpads price a new coin in the chain's gas token. This one prices it in another coin — a dollar, ether, an Injective memecoin, anything with a real market. A coin paired with USDT or with MOTION is a sentence this makes executable.

A launch, step by step

  1. A fixed-supply ERC-20 is deployed at a CREATE2 address you chose by mining a salt.
  2. A PancakeSwap Infinity concentrated-liquidity pool is opened for (yourCoin, pairAsset) at a price just outside the range you picked.
  3. The entire float is deposited as a single-sided position.
  4. The position is owned by a vault with no withdrawal path.

All of it in one transaction: about 1.45 million gas, which at Injective's usual 0.16 gwei is around 0.0002 INJ, plus the launch fee.

Why PancakeSwap Infinity

Because it is the only concentrated-liquidity venue on Injective EVM. There is no Uniswap V3 or V4 here. Choice Exchange runs PancakeSwap Infinity, a design that follows Uniswap V4 closely, and every launch opens its pool in Choice's deployment.

An Infinity pool is not a contract. Every CL pool on the chain lives inside one CLPoolManager, with the tokens held by one Vault, so opening yours deploys nothing: it is an entry in a contract that already exists, named by a 32-byte pool id — the hash of the two coins, the hook, the pool manager, the fee and the tick spacing. That makes a launch cheaper, and it takes away any fixed menu of fee tiers.

The pool is hookless, deliberately. A hook is code that runs on every swap, and a pool with none is the kind every router already knows how to trade. Choice's own router and quoter trade it like any other pool.

What Infinity gives up is the oracle. A pool keeps no price history, so eligibility is measured differently here — see Pair assets. It also means the usual market indexers do not help: GeckoTerminal and DexScreener do not index Infinity pools on Injective EVM, so the site draws your coin's chart from the pool's own swap logs.

Why you bring no capital

A concentrated-liquidity range that sits entirely on one side of the current price needs only one of the two assets. The pool opens one full tick spacing outside your range, which guarantees that: there is no rounding edge where the pool could demand a dust amount of the pair asset.

So a launch deposits your coin and nothing else. Not one unit of wINJ, USDT or MOTION leaves your wallet. The contract enforces it rather than trusting it — if the pool asks for any of the pair asset, the launch reverts with QuoteSideNotEmpty.

Buyers bring the pair asset as they trade in. The market funds itself. They do not have to hold it first: the trade panel takes INJ and makes both trades — INJ into the pair asset, the pair asset into the coin — as one transaction, through PairZap (see Contracts).

The consequence worth understanding: until somebody buys, there is no depth on the pair-asset side. A freshly launched coin cannot be sold before it has been bought. The first buyer gets the bottom of the range.

Why the liquidity can never be pulled

An Infinity position is not an NFT. The NFT is what the CLPositionManager wraps around one; underneath, a position is a slot inside the CLPoolManager keyed by (owner, tickLower, tickUpper, salt), and the owner is whoever called modifyLiquidity. The fee vault seeds the position itself, so the lock is structural rather than promised: no code path in the vault ever passes a negative liquidityDelta, and nothing else can act as that owner.

This is also why the launchpad does not use the CLPositionManager. That contract owns its positions and hands you a transferable, burnable NFT — which is a withdrawal path with extra steps.

Only the swap fees the position earns can ever be taken out.

Why there is no price ceiling

Your range is literally the set of prices your float is offered at. Stop it early and the coin hits a wall: at the top tick the last coin is gone, buys stop filling, and — with nothing left to slow the price — the quoted market cap runs off to the pool's maximum tick and reads as nonsense on a chart. Holders can still sell into it. Nobody can ever buy again.

So the range runs to the last usable tick by default. Measured both ways in the test suite, capping buys about a tenth of a percent of extra depth near the floor, against losing the coin outright if it works. The trade is not close.