evangelEVANGEL DOCUMENTATION / 06
Pairing assets
Liquidity requirements for stocks, wrapped assets, stablecoins, and other tokens.
What can be paired
The manual launch flow supports governor-approved ERC-20 assets on the deployment chain with 0–18 decimals. This may include tokenized stocks, wrapped native assets, and stablecoins. Native ETH must use a compatible ERC-20 wrapper.
Eligibility applies to an exact contract address, not a ticker or asset category. No real stock token is automatically approved. Rebasing and transfer-tax assets are ineligible under the review policy.
Initial liquidity policy
| Check | Requirement |
|---|---|
| External onchain liquidity | $1,000,000 minimum |
| Executable trade size | $10,000 in each direction |
| Price impact | At most 2% for each direction |
| Observation age at approval | No more than one hour |
| Approval expiry | At most 24 hours after observation |
| Transfers | Normal pool transfers permitted; no rebase or transfer tax |
Depth matters more than a headline number
Review executable routes, active liquidity, route fees, independent USD valuation, and how persistent the liquidity is. Concentrated-liquidity positions can be inactive outside their price ranges. A token balance or a pool’s advertised TVL is not, by itself, proof of useful depth.
A short-lived liquidity injection can misrepresent market quality. The reviewer should inspect historical context and market structure; the current contract does not calculate a historical liquidity average.
What the contract verifies
The governor registers a liquidity attestation with observation time, expiry, measured liquidity, impact values, decimals, and evidence hash. The contract checks authority, reported numerical thresholds, freshness, and compatible decimals. All assets—including default USDC—need approval.
This is a trusted attestation, not an independent market oracle. The owner could technically attest incorrect measurements. The CLI checks report structure, chain-bound observation block, and pool contract presence; it does not independently price an asset or calculate DEX depth.
Expiry and revocation
Request creation, initial-buy deposits, and final launch approval all require current eligibility. Expiry or a governor revocation prevents new usage. It does not change the quote asset of an existing pool, confiscate funds, block eligible refunds, or automatically disable existing swaps.
Once a pool exists, it remains exposed to the asset’s issuer controls, transfer behavior, price, and market liquidity. Do not interpret initial approval as a perpetual liquidity guarantee.
Tokenized stock considerations
Verify what the issuer token represents, whether it permits transfers to and from the pool, and whether it imposes whitelists, pauses, trading restrictions, or other controls. An asset label does not establish direct share ownership, redemption access, dividends, or creator endorsement.
Real equity tokens on another chain do not become usable in Base Sepolia simply because their ticker is known. A testnet fixture does not represent a real security.
Operator approval
Prepare and inspect the report, simulate approval, and then sign locally. The report is hashed exactly as stored, so retain its bytes and supporting evidence. Refresh the review before expiry.
npm run launchpad:approve-quote -- liquidity-report.json
npm run launchpad:approve-quote -- liquidity-report.json --broadcastReport fields
Required fields: chainId, factory, asset, decimals, blockNumber, blockHash, observedAt, validUntil, liquidityUsd, testTradeUsd (10000), buyImpactBps, sellImpactBps, pools, evidence, methodology, standardTransfersVerified (true), rebasing (false), transferTax (false), and poolTransfersPermitted (true). Timestamps are Unix seconds; liquidityUsd is an integer dollar amount.