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Session — stage 4, life in the pool — closed 15 Sep 2026

Pool fees reach the people they belong to. Stage 4's ✔ lines hold; its three ✗ lines are the creator split, pushing fees to holders, and weighting by time held. This pass is the first only.

Scope agreed 15 Sep 2026​

  • This pass: the creator and the protocol split pool fees on terms fixed at launch (D25).
  • Next passes: holder push payouts (needs the D15 hook, a holder set via the observer — O10, O15 — and O4, O9), then time weighting. ../concept has gas measurements, no code.

Found opening the stage​

  • Anyone could strand any launch's raise by calling migrate first with dust (D24). Probe: curve locked true, graduated false, graduate() reverting. Fixed before the split.
  • Pool fees only move when someone calls collectFees; a hookless pool has nothing in-swap to do it. Fine for a creator, who is motivated to pull. Not fine for holders — that pass needs the hook.

Build plan​

  1. Done. D24: the factory names the curve in prepare; only it can migrate. A stranger's migrate reverts and the launch still graduates; removing the gate fails that test.
  2. Done. D25: poolCreatorShareBps in the factory (50% at initialize, owner-set, ≤ 100%), passed to prepare in IMigrator.PoolTerms with the curve and the creator wallet. collectFees takes both currencies into the migrator and pushes each share with trySafeTransfer; a refused push is held per pool (creator) or per currency (protocol) and flushed by anyone. 6 tests, 7 mutants killed.
  3. Done. Fork, live singleton and real USDC: Circle blacklists the creator wallet, collection still pays the protocol and the token half, the USDC half is held and flushed once lifted.

Not this session​

Holder payouts, the hook, time weighting, the interface, anti-snipe, dividends (O18).

Next​

Closed. Pass one landed; pass two (holder payouts, time weighting) was dropped on 15 Sep 2026 when the developer reframed the product as a launchpad for experiments (D26): those are an experiment's mechanics, not the launchpad's. Next thread is the MVP.