Uniswap v4 · Base mainnet · fork of commodites.market
Every token launches into a pool quoted in a commodity coin — gold, oil, copper, wheat — whose price is held to an oracle by a single-sided v4 peg pool. Price discovery in ounces, not in someone's bag.
The protocol
The original runs on Robinhood Chain with Uniswap v3 peg pools and v4 launch pools. commodibase rebuilds the whole stack on Base as all-v4: one PoolManager, one unlock, one accounting path. Multi-hop routing gets cheaper, the keeper gets simpler, and every swap settles inside a single transient-balance context.
Mechanics
A commodity coin is not backed — it is quoted. The manager mints a coin, opens a coin/USDC v4 pool at 0.05% with a single-sided range around the oracle price, and provides ask depth in USD. Buying walks the range up; the keeper repositions on 0.3% drift, so the pool tracks the printed futures price instead of an AMM's memory.
A launch mints one billion tokens. 80% goes into a concentrated v4 range priced to open at a $5,000 fully-diluted valuation and run to a $35,000 cap; the remaining 20% is held as reserve so trading continues past the cap instead of hitting a wall. First buy is mandatory and at least $1 — the deployer eats the first tick.
LP fees are dynamic between 1% and 3% and accrue to a treasury that splits every claim 40% to holders, 30% to buybacks, 30% to the protocol, with a 2% payout reserve held back for gas. Holder payouts are computed from a Transfer-log snapshot, so no staking contract is needed.
Price discovery
The curve is not a bonding curve contract — it is a Uniswap v4 range, so every position is a real LP position from block one. The chart traces fully-diluted valuation against the share of the curve allocation sold. Past the cap, the 20% reserve keeps the book two-sided.
collectFees() call, split on-chain.Fee routing
A 2% payout reserve stays in the treasury so holder distribution never strands itself without gas. Fees accrue in the quote asset: commodity coin, USDC, or both for basket markets.
Verification
The suite runs against a Base mainnet fork with the live Uniswap v4 PoolManager at 0x4985…2b2b and native USDC at 0x8335…2913. Every number below is an assertion in the suite, not a projection.
| Test | Asserts | Result |
|---|---|---|
| Opening valuation | Launch FDV lands within 1% of $5,000 | pass |
| First buy | $35 first buy moves FDV to $5,071 | pass |
| Past the cap | Trading continues on reserve above $35,000 | pass |
| Router round trip | USDC in → token → USDC out, one unlock | pass |
| Fee split | 40 / 30 / 30 exact to the wei | pass |
| Basket launch | 60/40 gold + corn basket, 4,768 wei dust | pass |
| Commodity sizing | $35,000 of gold buys 10 oz at $3,500 | pass |
| Peg tracking | Pool follows a 10% oracle move after reposition | pass |
| Staleness gate | A 7-hour-old gold price blocks the launch | pass |
| Hook isolation | Fee hook rejects foreign pool initialisation | pass |
Run locally: BASE_RPC_URL=https://mainnet.base.org forge test -vv — Solidity 0.8.26, Cancun, via-IR, optimizer at 800 runs.
Builders
Stale(coin) revert.buyCoin / sellCoin.1<<12 flag.# WSL / Ubuntu, from the project root
export PATH="$HOME/.foundry/bin:$PATH"
forge install && forge build
# 1 — deploy and auto-wire the stack
forge script script/Deploy.s.sol \
--rpc-url $BASE_RPC_URL --broadcast
# 2 — list commodity coins + first oracle push
forge script script/ListCoins.s.sol \
--rpc-url $BASE_RPC_URL --broadcast
# 3 — launch a market against a coin or basket
forge script script/Launch.s.sol \
--rpc-url $BASE_RPC_URL --broadcast
# 4 — keeper: prices, repeg, fees, payouts
python keeper.py # DRY_RUN = True by defaultThe broadcast key must equal ADMIN in the deploy config; the script writes deployments/base.json and wires the hook into the launchpad with a one-shot setHook.
Honest answers
No. They are oracle-quoted ERC-20s. The peg holds because the manager runs a single-sided pool around the printed price and repositions it — there is no vault, no custodian and no physical delivery. If the keeper stops pushing prices, the feed goes stale and launches stop.
The original lives on Robinhood Chain and uses Uniswap v3 for the peg pools with v4 for launches. commodibase targets Base and moves everything to v4: one PoolManager, one unlock pattern, cheaper multi-hop routing, and a hook set once after deployment rather than baked into a constructor cycle.
An owner address appoints keepers; keepers push prices and the lister role configures coins. That is a trusted role and the honest description is centralised price input. Freshness windows bound the damage: a price older than its maxAge reverts rather than trading on a ghost.
The 20% reserve keeps quoting. The curve range simply runs out of tokens at the cap; the reserve position keeps the market two-sided so price discovery continues rather than printing an untradeable wall.
No. It is a working fork with ten passing Base-fork tests and it has not been reviewed by a third party. Treat mainnet deployment as experimental, start with the dry-run keeper, and size positions accordingly.