> For the complete documentation index, see [llms.txt](https://docs.souless.fun/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.souless.fun/launching/market-liquidity.md). # Markets and liquidity Each Souless launch goes directly to a TOKEN/USDC Uniswap V3 market. There is no bonding curve and no later “graduation” transaction. ## Market creation * A fixed supply is deployed. * The canonical pool is created and initialized at the launch price. * Market liquidity is placed across configured one-sided ranges. * Unused LP-mint dust is burned during the one-shot initialization flow. * Official Uniswap position NFTs move to a permanent locker. The current guarded Arc Mainnet and Testnet deployments use a **1% canonical pool fee** (`10,000` fee pips) and five liquidity ranges. Earlier/direct deployment records may use other versions, so use the pool registered for that Launch ID. ## Price, market cap, and FDV Uniswap sets price from active liquidity and trades. Souless reports indexed values; it does not guarantee an execution price. `FDV = current token price × total fixed supply` Market cap may use circulating-supply assumptions and can differ from FDV. A quoted price is not the price at which the entire supply could be sold. ## Permanent LP custody The locker cannot transfer official LP positions or remove their principal. It can collect accrued fees along defined paths. USDC-side fees enter the published dispatcher; token-side fees remain separate and follow a timelocked reserve or burn policy. Anyone can transfer the ERC-20 or create another pool. Souless identifies one canonical registered pool for protocol accounting. Activity elsewhere does not automatically earn or route canonical LP fees. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation by asking a question. Perform an HTTP GET request on the following URL with the `ask` and `goal` query parameters: ``` GET https://docs.souless.fun/launching/market-liquidity.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is what the user is ultimately trying to achieve, the reason they need the answer. Sharing it helps GitBook give you a better, more relevant answer. A goal is most helpful when it describes the outcome the user wants rather than restating the question. For example, with `ask=how do I create an API token`, a goal like `automate deployments from our CI pipeline` lets GitBook tailor the answer to that use case. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.