# Permissions and liquidity

Rearctor separates launch liquidity, project fee budgets and protocol treasury funds. Each contract has a specific role, and every privileged operation checks the signing wallet on the selected network.

## Locked launch liquidity

The initial token supply and USDC seed enter the launch pool. Graduation creates a full-range V4 position owned by that same pool. Its contract has no principal-withdrawal function, transferable LP position or upgrade entry point. Reinvested fee budgets increase the same locked position.

For manual graduation, accounted tokens left after the V4 deposit go to the fixed dead address `0x000000000000000000000000000000000000dEaD`, within the accepted transfer maximum. The owner cannot choose the recipient or transfer donations and fee budgets through this path. The transfer leaves ERC-20 total supply unchanged. Any USDC remainder stays locked; automatic graduation retains both small remainders in the pool.

Only the registered Rearctor pool can initialize or add liquidity to its canonical V4 key. The key includes its token, USDC and Rearctor hook; another key represents a separate market.

## Fixed launch settings

The creator chooses the buy/sell fees, creator wallet and project allocation when launching. These settings remain fixed. Ordinary ERC-20 transfers are untaxed, and no additional tokens can be minted after initialization.

The hook applies the configured fees to trades through the canonical V4 pool. Separate markets for the same token use their own settings.

## Who can do what?

| Role | Operations |
| --- | --- |
| Factory owner | Bind the hook during initial setup, set the minimum seed for future launches and graduate eligible tokens early |
| Treasury owner | Bind the treasury target pool, manage protocol receipts and choose manual Rearctor buybacks |
| Creator funds wallet | Receive its fixed share of collected fees |
| Any wallet | Trade, collect V4 fees and process project budgets when execution checks pass |

Factory and treasury ownership are separate. Neither role can withdraw the launch pool's committed principal or redirect the creator's allocated rewards. Ownership transfers use a two-step acceptance flow.

## Project fee budgets

Project buyback and liquidity allocations remain in their dedicated vault. Processing them uses fixed pool and beneficiary addresses; the caller cannot choose another recipient or router.

Budget swaps use at most **0.5% of the input reserve**. Liquidity reinvestment uses at most **0.5% of the existing locked position**. Each pool allows one price-sensitive budget operation per **60 seconds**, shared by its project vault and protocol treasury.

Execution checks the block-opening price, minimum output and deadline. The spot-price band is **99 ticks**, approximately 1%. Unspent amounts remain allocated to their original budgets. Already collected buyback tokens can be burned directly, without a market swap. Ordinary trades, fee collection and beneficiary claims do not use this budget interval.

## Protocol treasury

The treasury receives the protocol's **30%** share. Its owner chooses how much to use for operations and how much to spend on Rearctor buybacks. There is no preset protocol burn percentage or schedule. Project budgets and creator rewards remain separate from these funds.

Manual Rearctor buybacks use the treasury's permanently bound canonical pool. The acquired tokens are burned, and the receipt records the actual USDC spent and token amount burned.

## Transaction checks

The application verifies the selected network, canonical pool and relevant wallet permission before preparing a transaction. It refreshes quotes, applies minimum outputs and deadlines, and simulates execution before requesting a signature.

Catalogue and analytics data come from the confirmed index. Wallet permissions, balances, allowances and transaction-critical checks use fresh chain reads. Preview data is labeled, and wallet transactions remain disabled until matching contracts are connected.

Continue with [Admin & networks](/docs/admin/), [Graduation](/docs/graduation/) or the [contract reference](/docs/smart-contracts/).