How a Stack works, and how to check it.

What a Stack is

Every coin launched on Backstack trades against a stock token on pons V2. pons charges its standard trading fee in that stock and credits the creator's share to the coin's creator fee recipient. On Backstack that recipient is the coin's Stack: an address that nobody holds a key for. The stock credited to it sits in the pons fee escrow and can never be claimed or moved.

Backstack deploys no contracts of its own and never holds funds. The site reads and writes the public pons V2 contracts directly from your wallet.

How the Stack address is made

The address is the last 20 bytes of a hash of two public values from the launch transaction:

salt is the launch's CREATE2 salt, which starts with the bytes 0x42535441434b ("BSTACK"). launcher is the wallet that signed the launch. Finding a private key for the output of a hash is not feasible, so the address has no owner. Because the launcher is part of the hash, a copycat cannot point a different coin at someone else's Stack and have it verify.

Check any coin yourself

1. Open the coin's launch transaction on Blockscout and read salt and creatorFeeRecipient from its input, and the sender from its header.

2. Compute the formula above. The result must equal creatorFeeRecipient.

3. Call getLaunchedToken(token) on the pons factory. Its creatorFeeRecipient must still be that address and pairToken must be a stock token.

4. Call balanceOfToken(stack, pairToken) on the pons fee escrow. That is the Stack.

Every coin page runs these checks in your browser and shows the result. Coins that fail are never listed.

What a Stack is not

A coin is not backed by its Stack, and holders have no claim on it. The stock cannot be redeemed, distributed or sold by anyone. A Stack does not set a floor price and does not make a coin an investment. It is a public, permanent record of how much trading a coin has seen, held in a real asset.

Creators receive no creator fees on Backstack. The creator tax is fixed at 0% for every launch.

Fees

Backstack adds no fee. Traders pay the standard pons V2 trading fee, which pons splits between its protocol and the coin's creator fee recipient. pons also charges a small launch fee in ETH. The live figures are shown on the launch review step.

What can still change

pons V2 is controlled by the pons team. Its documentation says the protocol owner can change a coin's fee recipient after a public notice period. Each coin page checks for a pending change and flags it. Stock tokens are issued by Robinhood Assets (Jersey) Limited as debt securities, give no shareholder rights, and are subject to their issuer's terms. Stacked balances are shown in units of stock, not in dollars.

Who can use Backstack

Stock tokens are not available to US persons or in Canada, the United Kingdom, Switzerland and other restricted regions. Backstack is switched off in those regions. See the terms.

Contracts