01The crossing
A crossing is open for a fixed window. Anyone can lay a section — ETH into escrow, withdrawable in full at any point before the deadline. Nothing is minted and no token exists while a crossing is open.
If the window closes below the load line, every section is refunded in full and the artwork never mints. There is no partial launch and no consolation token.
02The launch
The moment the load line is hit, one transaction does all of it: the 1/1 mints into a vault, the raised ETH launches the token on the Pons curve, the LP locks, and supply distributes.
| Allocation | Share |
|---|---|
| Backers, pro-rata to sections laid | 75% |
| Locked liquidity | 15% |
| Creator | 10% |
03The span
A bridge has exactly 7 floats, ranked 1 to 7. Each float earns a fixed share of the token's toll stream for as long as it is held.
| Rank | Toll share |
|---|---|
| Rank 1 | 30% |
| Rank 2 | 20% |
| Rank 3 | 15% |
| Rank 4 | 12% |
| Rank 5 | 10% |
| Rank 6 | 8% |
| Rank 7 | 5% |
You hold a float by bonding tokens against it — not by paying ETH for a seat. There is no decay and no timer. A float is yours until somebody out-bonds you.
04The waterline
The waterline is the seventh float's bond: the minimum to get in. Freeboard is how far your bond sits above it. Draft is how deep your float rides — the inverse of rank.
An incoming bond must clear the waterline by more than 10%, because the displacement has to fund itself: 8% goes to the displaced holder as a premium and 2% is burned. Clearing the waterline by a single token is not enough.
05Worked displacement
Live numbers from Outfall (OUT), the most contested span right now.
| Reading | Value |
|---|---|
| Waterline — rank 7's bond | 295.5K OUT |
| Minimum to clear (+10%) | 325.1K OUT |
| Premium paid out (8%) | 26.0K OUT |
| Burned (2%) | 6.5K OUT |
| Rank taken | 7 |
| Toll earned at rank 7 | 5% |
The displaced holder gets their entire bond back plus 8%, paid out of the incoming bond. Losing a float is not a loss of principal.
06Why it is denominated in the token
Because the bond is the project's own token, contesting a float is buy pressure. Nothing leaks out in ETH, there is no decay draining holders, and seven live positions per bridge means seven reasons to be here instead of one.
07Chain
Robinhood Chain, chain id 4663, native ETH. Settles into Pons V2. Everything on this build reads from fixtures — no contracts are wired yet and no wallet writes are possible.
08Vocabulary
| Term | Means |
|---|---|
| Crossing | A live raise, still in its commit window. |
| Load line | The target raise. Hit it and the launch fires. |
| Lay a section | Commit ETH to a crossing. |
| Bridge | A launched project — the 1/1 plus its token. |
| Span | The seven-float ladder on one bridge. |
| Float | One of the seven seats, ranked 1–7. |
| Bond | Tokens locked to hold a float. |
| Waterline | The 7th float's bond. The minimum to get in. |
| Freeboard | How far your bond sits above the waterline. |
| Draft | How deep your float rides. Inverse of rank. |
| Displace | Take a float by out-bonding the waterline. |
| Toll | The token's fee stream, split across the seven floats. |
| Sounding | A numeric readout. |