Braid documentation

A Standard coin has a separate market and price on each chain its creator picked, from one chain up to every chain Braid supports, like a coin on a normal launchpad. Each chain later moves into a normal exchange pool on that chain. A braided coin has one shared market across two or more chains its creator picked: a buy on any of them moves the same price on all of them. Both charge 1.25%, with a permanent choice of creator payouts or default BRAID buyback-and-burn; graduated pool allocations are disclosed in the fee table. Check which kind a coin is before you trade it. Launch modes explains the difference.

Your chain sets the wallet, the coin you pay with, network costs and confirmation speed. For a braided coin, it does not give you a separate price: a trade on any of the coin’s chains changes the one shared market.

You pay and receive your chain’s own coin: SOL on Solana, BNB on BNB Chain, ETH on Base and Robinhood Chain, and USDC on Arc. The same balance pays the network fee. A Standard coin’s native market is priced directly in that coin. A braided coin’s shared market is kept in dollars, so a buy’s payment, and any money paid back to you, converts in the same transaction through an approved outside exchange route; the trade preview shows the route’s fees, and Braid adds no markup. On Arc, USDC is already the chain’s own coin, so nothing converts. Check the network before funding a wallet.

Use a passkey wallet or connect an external wallet such as Phantom, MetaMask or Rabby. You do not need an account. Google sign-in, third-party embedded wallets and social accounts are planned for after launch After launch.

Braid’s site uses a trading wallet kept encrypted in your browser, protected by a passkey and funded from your own wallet. It sends trades without a wallet pop-up for each click. Braid never holds its key. Export the key before clearing browser data, keep the backup private and keep only a small balance there. A compromised browser or device can lose that wallet’s funds.

Braid is designed so that a buy or sell shows as done within about 3 seconds of your click, once its result is signed. Delivery on the chain follows. Very large surges can take longer, and a chain’s own block time is a floor Braid cannot beat.

Read the coin’s fee, creator tax, opening surcharge and launch settings. Set a limit that matches the price movement you can accept. The price on screen is a reference: your trade fills against the market as it stands when your trade is ordered, and its size moves the price. Part of a sale can arrive later, and a payment that cannot be filled comes back through a reclaim.

Continue with trading, fees and the risks. Creators can begin with launching a coin.

The choice is yours. A Standard launch puts your coin on the chains you pick, from one up to every chain Braid supports, with a separate market on each, and moves each chain into a pool on an existing exchange when that chain’s curve fills. A braided launch puts your coin on two or more chains that you pick and trades it as one shared market across them. Both use the same curve shape and 1.25% trading fee, with either BRAID buyback-and-burn or creator payouts selected before trading. Launch modes compares them.

Prepare the name, ticker, description, artwork and project links. Name, ticker and artwork are fixed when the coin is created, so check them before signing. A matching name is not proof that another token belongs to your project: the coin’s identifier and its registered addresses are.

Supply and curve are protocol rules, the same for every coin. Each chain’s token has a fixed supply of one billion. Of that, 800 million are sold on the curve and 200 million are kept for the pool the coin moves into when the curve fills.

The graduation target is fixed, with no other choice offered. A braided coin’s target is $10,000 of curve principal, the money in the curve before fees, so filling it costs about $10,127 at the default 1.25% fee, before any creator tax, opening surcharge or conversion costs. A Standard coin’s target is set in each chain’s own coin: 90 SOL on Solana, 14 BNB on BNB Chain, 4 ETH on Base and on Robinhood Chain, and 10,000 USDC on Arc.

• Creator fee. The trading fee is 1.25%. By default, 0.65% of each curve or braided trade funds BRAID buyback-and-burn, 0.60% goes to Braid and you receive no creator payouts. You can instead choose 0.55% creator payouts, 0.60% Braid and 0.10% BRAID buyback-and-burn. The choice is permanent before trading starts; a creator cannot remove the 0.10% allocation. Graduated pool splits differ as shown in the fee table.
• Creator tax. An optional extra 0–3% on every trade, all to the creator. It is fixed at launch and can never be raised. At launch it is available only for braided coins with creator payouts.
• Recipients. Up to ten wallets with percentage splits, including charity wallets. GitHub-account recipients are refused at launch. Permitted braided payout-recipient changes cannot alter the permanent burn election or dedicated allocation. A Standard coin’s recipients are fixed at launch.
• Purposes. Only working, tested payout options are offered at launch, with automatic daily payouts once $50 is owed and claim-now. Holder rewards are post-launch After launch. There is no cashback program.

A Standard launch charges real network cost only. A braided launch charges the real setup cost of the selected chains plus $2 earmarked for BRAID buyback-and-burn. The full charge is quoted before confirmation; unused money is returned, and a partially failed launch resumes without repeating successful deployments.

Anti-snipe is optional and off by default. If you turn it on, choose a starting rate up to 99% and a length up to 10 seconds; buyers see both before the coin opens. You can also make a dev buy: one disclosed buy from a named wallet, priced before the coin opens, and either kept or burned. Buyers must be able to read those terms before they send money.

For a braided coin, every chain you picked must agree on the coin’s identifier, token addresses, fee settings and market settings. A chain opens for a braided coin only when it has a working route for the coin’s money, so its sellers can be paid. A deployment transaction alone does not make a usable market.

For a Standard coin, each chain’s launch is separate. Launching on several chains is not one action: one chain can succeed while another fails and must be retried.

Share the coin’s Braid page and its verified addresses, not a ticker search. After opening, watch order delivery, owed payouts and fee accrual. Describe the coin as it was actually launched: its mode, its chains and its settings.

Request a reviewed integration environment URL from support@launchbraid.com. Set BRAID_READ_BASE_URL to that service’s base URL. This guide does not publish a production API address or an API key.

curl --fail "$BRAID_READ_BASE_URL/v1/environment"
curl --fail "$BRAID_READ_BASE_URL/v1/health"
curl --fail "$BRAID_READ_BASE_URL/v1/coins?sort=new&limit=10"

The environment identifies chains, venues, payment assets and signers. Health reports whether trades may be offered on each chain. The coin list gives identifiers to use for coin details, trades and candles. Follow the routes under the API reference; use its placeholders with actual identifiers from your environment.

Responses carry as_of freshness information. Keep amounts as exact integer strings and prices as the supplied exact fractions or decimals. An unreachable service means unknown, not paused; a stale answer does not establish that an order failed.

The private @braid/sdk source kit includes BraidClient, openStream, openSocket, exact-unit helpers and tradeGate. Request kit access through support; there is no public package-install step in this guide.

Configure BraidClient with the reviewed baseUrl. Start with environment(), health() and coinPage({ sort: 'new', limit: 10 }). For a returned coin identifier, use candles(coin, { interval: '1m', series: 'reference', countBack: 300 }).

openStream follows server-sent events; openSocket follows WebSocket channels. Both report a reset when events may have been missed: refetch the current snapshot before continuing. Preserve the event cursor and do not treat a gap as an unchanged market.

The kit also contains unsigned order and claim builders, codecs and conformance fixtures. Those construction tools do not establish current trade availability, authorize signing or qualify a production integration.

• Check GET /v1/health before offering a trade. Honor the chain’s offer_trades result; an unknown result cannot authorize trading.
• Show amounts from the API’s exact integer strings, not from rounded prices.
• Show the coin’s actual chains, launch mode, fee, creator tax and any opening surcharge before a trade.
• Keep an executed sell distinct from its payment progress. An owed payout or a held claim is not money already received.
• Before Sell on BNB Chain or Robinhood Chain, explain that any unpaid amount depends on this coin’s own money becoming available on the selling chain. Buys on other chains do not fund it unless that money is transferred there. There is no guaranteed payout time; an unpaid amount may never be paid. See sell payouts.
• Carry Base’s ordering disclosure in pricing and ordering.

Email support@launchbraid.com with the data you need and your target chains.

A Standard coin works the way coins work on a normal launchpad. You pick its chains: just one, several, or every chain Braid supports. Each chosen chain gets its own bonding curve, its own reserves and its own price. A trade on one chain does not move the price on another. Buying and selling on the curve, and the move into an exchange pool, happen on chain without Braid’s engine or signers. You still sign each trade with your own wallet. Native Standard EVM per-coin proxies and the Standard Solana program remain upgradeable under Braid’s hardware multisig; trading without the engine does not remove that authority risk. See admin powers.

Each chain’s curve has the same shape as a braided coin’s: one billion tokens on that chain, 800 million sold on the curve and 200 million kept for the exchange pool. When a chain’s curve fills, its money and the 200 million reserved tokens go into one pool on an existing exchange on that chain, and that liquidity is locked so nobody can withdraw it. Each chain fills and moves on its own schedule.

Launching on several chains is not one action: each chain’s launch is separate, and one can succeed while another fails and must be retried.

A braided coin trades as one coin with one market across two or more chains you pick. A buy on Base raises the price a Solana trader sees next, if the coin uses both. Each chain holds a fixed supply of the token, but no more than one billion tokens circulate across the coin’s chains together while the shared market runs. The shared market chapter explains how.

The trade-off is trust. Braided trading depends on Braid’s engine, its signing keys and its upgradeable contracts. If Braid stops, trading on a braided coin stops too, and after 14 days the coin can wind down into separate pools on each of its chains.

A Standard coin keeps the 1.25% total after it moves. With creator payouts, the graduated EVM split is 0.55% creator / 0.50% Braid / 0.10% BRAID buyback-and-burn / 0.10% exchange protocol fee; on Solana it is 0.425% / 0.475% / 0.10% / 0.25%. The default has no creator payout: EVM allocates 0.50% Braid / 0.65% BRAID buyback-and-burn / 0.10% exchange; Solana allocates 0.475% / 0.525% / 0.25%. These fees come from the locked pool’s trading. On Solana creator fees are paid in SOL; elsewhere they can be in either of the pool’s assets, with no automatic conversion. See the fee table.

Two limits apply. Anyone can create a second, cheaper pool for the same token on the same exchange, and traders can use it. Braid treats its own pool as the coin’s main market and watches for others, but cannot stop them. And the exchange’s own rules can change. On Solana, the exchange’s operator can raise a pool’s fee up to 10% or disable the pool, and can upgrade its program. Braid cannot promise that any exchange’s rules never change.

A coin’s launch record names its mode, and Braid’s site will show it on the coin’s page. A braided coin lists one market for all its chains. A Standard coin lists a separate market and price for each chain. If a site shows one price for a Standard coin across chains, that price is not Braid’s.

Standard coins use different token addresses from braided ones. A matching name or ticker does not prove that two tokens belong to the same coin. See checking an address.

A buy on Base changes the price that the next Solana trade sees. A sell on Robinhood Chain changes that same price. Braid’s engine puts each coin’s paid trades in order, prices them on the coin’s curve and produces results that Braid’s contract on each chain, called a venue, can settle.

A chain explorer shows only that chain’s trades, which are part of the coin’s activity. Braid’s combined feed shows the trades from all of the coin’s chains and the shared price history. When you compare two screens, compare the same coin identifier at the same point in that history.

Each chain’s token starts with a fixed one billion tokens, with no mint function and no token admin. Braid’s venues hold the tokens not yet sold and release them as buys settle. Across all of the coin’s chains together, no more than one billion tokens circulate while the shared market runs. Adding up each chain’s starting supply would overstate what holders can own.

You can move a braided coin’s tokens from one of its chains to another. The move locks tokens on the source chain and releases the same number on the destination, so the total stays the same. Moving your own tokens between a braided coin’s chains costs the real moving cost plus 0.10% of the value moved, at least $1 in total. There is no minimum move size beyond the $0.01 dust floor. The full charge is shown before you confirm, including when it exceeds the value moved. A burn destroys tokens; sending them to a venue or another wallet does not.

A coin’s sellers are paid only from the money that coin’s buyers paid in. Another coin’s buyers, outside lenders and Braid’s own treasury never pay for ordinary sells.

That money is kept in dollars on whichever chains the buyers used, so it can be uneven. A sale on a chain that holds too little of the coin’s money is paid in part at once, and the rest is recorded as owed at the price the sale got. Braid then moves that coin’s own money from another of its chains to pay the rest. There is no guaranteed payout time, and on BNB Chain and Robinhood Chain the rest may never be paid; see sell payouts. How money moves between chains walks through a big sell step by step, with the routes, providers and fees.

A coin goes through three stages. It is almost bonded when it is close to its graduation target. It is bonding when the buy that fills the curve has been priced, usually for a second or two, while Braid waits for that buy to be delivered on its chain. It is bonded once two independent watchers see that buy delivered. A bond does not reverse unless a chain reversal undoes its delivered transaction. Trading does not pause at any stage.

A bonded braided coin keeps trading in its permanent Braid pool: the 200 million reserved tokens plus the money raised, locked for good, at one price on all of its chains. It does not split into separate pools on each chain, because those would need arbitrage to keep their prices together. Each of the coin’s chains records the bond on chain as a public event.

A last-resort wind-down is different: it ends the shared market and gives each chain its own pool. Read pricing for how trade size affects your price.

Every coin starts on the same curve shape. Buying moves the price up the curve and selling moves it down. Of each chain’s one billion tokens, 800 million are sold on the curve. When those are sold, the curve has raised its graduation target and the coin is bonded. The numbers below are for a braided coin, whose target is $10,000. A Standard coin’s curve has the same shape, scaled to its chain’s target in that chain’s own coin.

• The first token costs $0.000003125, so the whole coin is valued at $3,125.
• When the curve is full, a token costs $0.00005 and the coin is valued at $50,000.
• Buyers pay about $10,127 in total to fill the curve, because the 1.25% fee comes on top of the $10,000.
• A $1,000 first buy sold straight back returns about $975: the fee is paid once on the buy and once on the sell.
• Buying 10% of the supply at launch costs about $349.

These figures come from Braid’s curve formula, computed exactly and rounded here. Braid’s engine rounds each trade to the smallest unit, so real trades can differ in the last digits. A creator tax or an opening surcharge reduces what you get. Amounts are in dollars: you pay the equivalent in your chain’s coin, plus the conversion pool’s fee (none on Arc).

The buy that fills the curve moves a braided coin into its permanent Braid pool: the 200 million reserved tokens and the $10,000 raised. The pool opens at exactly the curve’s last price, so nothing jumps. It is a constant-product pool, so its price keeps moving with trades: a $1,000 buy right after bonding moves the price up about 21%. The Bonded label waits until that filling buy is delivered on its chain, while trading continues. The pool stays shared across all of the coin’s chains.

Price impact is how much your own trade moves the price. A large buy gets its later tokens at a higher price than its first ones; a large sell gets less for each token as it goes. Braid never changes the curve to make selling cheaper.

A slippage limit sets the worst result you accept compared with the price your order was built on. Other trades may move the market before yours is ordered. A buy can partly fill within its limit and refund the rest. A sell’s limit applies to its whole payout, including any owed part.

Each coin’s trades are ordered by the time their own chain recorded them landing. Trades in different coins never wait for each other. Chain clocks count whole seconds, so trades that land in the same second are ordered by a hash of each payment’s block, which Braid cannot choose.

If a trade lands while an earlier trade on another chain is still being confirmed, Braid holds the later trade for at most 0.3 seconds. In Braid’s study of mainnet chain data, at about 5 trades a second and with BNB Chain accepted at “justified” blocks, this held about 8 trades in 100, each by at most 0.3 seconds. If the earlier trade takes longer, the later one is priced first, and the earlier trade is then refunded in full rather than filled at the moved price. Braid never waits for a trade it has not seen.

Base is a disclosed exception. Base stamps a trade with the end of its 2-second block, so Base trades look later than they really were, by about 1.3 seconds. Base trades are therefore the ones held most often, and in real time they can be priced after trades that landed after them on other chains. No waiting rule fixes this. Integrations should show this note to Base traders.

The engine uses exact arithmetic. Token amounts and payouts round down, so the coin’s pool always takes in at least, and pays out at most, the exact curve amount. At high prices this rounding can leave a visible remainder, so a screen should show the actual tokens and charges, not work them out from a rounded price.

The read API gives amounts as whole-number strings and prices as exact fractions. A chart’s rounded labels do not set a fill. See the fee schedule alongside the price.

A payment Braid never prices is refunded. Read settlement and refunds and the risks.

Your transaction must land on its chain first. Braid’s collectors see the payment. Both views must agree while both providers are healthy; if one fails, the remaining healthy view can admit it. The engine prices it, which fixes how many tokens or how much money you get, or whether it is refunded. Three of Braid’s four signing keys then certify the result, and the venue on your chain applies it.

Certified means the signed result exists. Settled means your chain has applied it. In rare failures a certified trade is not delivered; it is then reversed and the payment comes back automatically. A chain rollback can also undo a transaction. Keep your order identifier and transaction link when you check a trade.

Braid’s read API reports each order in one of these states:

A sell with an owed part also carries a remainder that moves from owed to paid.

Braid’s site and kits check the read API’s health answer before they offer a trade on a chain. A chain is offered only when the engine is running, that chain’s venue is taking payments, and its last signed message from Braid is recent enough that it will not go silent soon. If the health service cannot be reached, the answer is unknown, and a trade should not be offered.

Braid is designed so that a trade shows as done within about 3 seconds of pressing Buy or Sell. The site shows it done once its result is certified; delivery on the chain usually follows within a block or two. Very large surges can take longer, and a chain’s own block time is a floor that Braid cannot beat.

The price on screen is a reference. Your trade fills against the market left by earlier trades in the same coin, and its own size moves the price. Pressing Buy or Sell does not reserve the price you see.

A buy that cannot fit fully within your limit fills the largest part that does, and the unused payment is refunded in the same settlement. A sell’s limit applies to its whole payout, including any owed part.

A converting braided trade allocates 0.5 percentage points of the total slippage you see to conversion. This is part of that limit, not an added fee. Retries do not widen it.

You can use a passkey wallet or connect Phantom, MetaMask or Rabby. External-wallet trades use that wallet’s approval flow.

Braid’s site uses a browser trading wallet so preset buttons trade without a wallet pop-up for each click. Set the amount, chain and slippage before you click. Keep a small balance there and export its key privately. The home page illustration does not create or fund a trading wallet.

Your chain’s own coin pays for both the trade and its network fee. Coins sent on the wrong network do not pay the venue.

If the coin’s money on your chain cannot cover the whole sale, or the hourly payout limit is reached, the available part is paid and the rest is recorded as owed. The owed amount is fixed in dollars by the price your sale got; it is never priced again. When it is paid, it converts into your chain’s coin at that moment’s exchange price, so the amount of SOL, BNB or ETH you receive can differ from what you first saw. On Arc it is paid in USDC.

On BNB Chain and Robinhood Chain, any unpaid amount stays owed until this coin has enough money on the selling chain. Buys on other chains do not fund that payout unless this coin’s money is transferred there. There is no guaranteed payout time, and the unpaid amount may never be paid if enough money never becomes available. Braid does not add its own money or use another coin’s money to pay sellers. This condition must be visible before Sell, including with instant-trade buttons that show no confirmation screen.

A payment that is never settled comes back through a reclaim from 10 minutes after it landed. A trade Braid priced but failed to deliver is reversed. Read settlement and refunds, the failure timeline and the risks.

A buy pays in your chain’s coin, which converts to dollars in the same transaction; on Arc, USDC needs no conversion. A sell deposits the coin’s tokens. Either way, the payment sits in the venue’s escrow on your chain until it is priced. The engine orders paid trades, prices each one and gets a certificate signed by three of Braid’s four keys. The venue checks the certificate and applies the result. Anyone who holds the signed result and its proof can deliver it.

A certificate is not delivery. A pending transaction, a refused result or a correction must not be shown as money already received. Delivering the same signed result twice can never pay twice.

A limited buy delivers the tokens that fit and refunds the unused payment in the same settlement. A sell pays what your chain’s venue can pay now and records the rest as owed from this coin’s own money. The owed amount is fixed when the sale is priced; a delay never reprices it.

Money paid to you, such as sale proceeds, owed amounts and a buy’s refund, converts into your chain’s coin when it is paid, at that moment’s exchange price, and you receive what the conversion yields. If that conversion fails, you can claim the dollar amount directly. On Arc it is paid in USDC, with no conversion. A sell that does not fill, or is reclaimed, returns your original tokens.

For braided coins on BNB Chain and Robinhood Chain, any unpaid amount stays owed until this coin has enough money on the selling chain. Buys on other chains do not fund that payout unless this coin’s money is transferred there. There is no guaranteed payout time, and the unpaid amount may never be paid if enough money never becomes available. Braid does not add its own money or use another coin’s money to pay sellers. For which services carry a coin’s money between its chains, how long they take and what happens when one fails, see how money moves between chains.

Each venue also has a payout limit for each coin. It is an allowance that starts full and refills over an hour: the larger of 40% of the coin’s money on that chain or $10,000. A payout above what is left is recorded as owed rather than refused. Payment also requires this coin’s money on that chain; the allowance alone does not guarantee payment. The limit slows how fast money can leave in an incident, so that a pause can take effect. It is not a guaranteed cap on losses: a coin with less than $10,000 on a chain can be paid out in full at once, and new money coming in also gives the allowance more to pay from.

From 10 minutes after your payment landed, by your chain’s clock, anyone can trigger a reclaim. On reclaim, ordinary payments return to the account that paid; trades in the chain’s own coin pay the recipient named in the signed order. Calling reclaim never changes the destination or grants the caller a right to the funds. A result for that payment is refused from 8 minutes after landing, so a late fill cannot race the reclaim. On Solana, the reclaim closes the escrow account and returns its rent deposit to you.

Ten minutes is when a reclaim becomes possible, not a promise that money arrives by then. The transaction must be sent and run, and a halted chain cannot run it. Braid’s refund service and site are designed to trigger it for you. A venue also refuses new payments after 240 seconds without a signed message from Braid, so it does not take payments Braid cannot settle.

Sometimes a payout cannot be sent: the receiving account is blocked by a stablecoin issuer, or on Solana it cannot receive the token. The venue then holds the payout as a claim for its owner. It is never refused and never sent to anyone else. The owner can collect it later. In the read API, such an order shows claimable until the claim is collected. A claim to an address that stays blocked for good stays unpaid for good.

If Braid prices a trade but fails to deliver it, Braid reverses it with a correction, and the payment comes back through a reclaim. If Braid’s own failure leaves a coin’s books short, Braid pays the shortfall from its own fees and treasury. Braid also covers a cross-chain move that arrives short, up to that move’s fee allowance (at most 1%); see how money moves between chains. Any amount not yet paid is recorded publicly as Braid debt. Braid does not pay for missed gains, market losses, delays, or failures of a chain, bridge or stablecoin, apart from that bounded cover. A shortfall caused by prices moving while a chain was not receiving Braid’s results is not repaid by anyone: it is recorded publicly, and the coin’s holders bear it through the price when trading resumes.

When you look into a payment, read its order, delivery, owed amount and correction records together.

See the failure timeline, wind-down and the risks.

Say you sell a braided coin on Solana, but most of the coin’s money was paid in on BNB Chain. Here is what happens.

1. Your sale is priced at once, at the normal curve price, in its place in the coin’s order. The price is locked when your sale is priced, and the coin’s shared price moves for everyone straight away. A shortage of money on your chain never refuses your sale and never prices it again.
2. What Solana can pay is paid in the sale’s settlement. The coin’s money on Solana pays as much of your proceeds as it can, converted from dollars into SOL in the same transaction.
3. The rest is recorded as owed to you, in dollars, at the locked price. It is paid by whichever comes first: the coin’s own money arriving on Solana from another of its chains, or new buys of the coin on Solana. Sellers owed on a chain are paid oldest first.
4. Nobody else waits for you. Other trades keep being priced while your owed amount is paid. It never changes anyone else’s price, because your sale was already priced on the curve.

Each owed payment converts into your chain’s coin when it is paid, at that moment’s exchange price, so the amount of SOL you receive can differ from what you first saw. On Arc, payouts are in USDC and nothing converts. Each payout also counts against the venue’s hourly payout allowance.

A braided coin trades on Solana, Base and BNB Chain. Its money is uneven: $500 on Solana, $500 on Base and $6,000 on BNB Chain, $7,000 in all. You sell on Solana, and your proceeds come to $3,000.

So you are paid in three rounds. If someone buys the coin on Solana meanwhile, that buy’s money pays you first, and the moves get smaller. The bridge fees on every leg come out of Braid’s fee share, so this example pays the full $3,000 before conversion into SOL, assuming the providers complete both moves. Braid’s positioning is designed to make this case rare, by keeping more of the coin’s money on Solana before a big Solana sell arrives.

• Only the coin’s own money pays its sellers. Each coin has its own inbox on each of its chains, and a move carries only that coin’s money. Another coin’s money never pays its sells.
• Braid adds no capital to the market. No Braid treasury, lender or guarantee fund pays ordinary sells. Braid pays only bounded compensation: for a shortfall that Braid itself caused (see corrections), and for a short arrival within a move’s fee allowance, described below. Compensation not yet paid is recorded publicly as Braid debt.
• Bridge fees come out of Braid’s fee share, never out of the coin’s money. Each move reserves a fee allowance from Braid’s fees held on the sending chain: the route’s expected fee plus a margin, and never more than 1% of the amount moved. If Braid’s fees on that chain cannot cover the allowance, the move waits; the coin’s money is never used instead.
• Money counts only once it has arrived and been checked. While a move is under way, the money is still the coin’s, but no chain can pay it out. It counts on the destination only after two independent watchers see it land in the coin’s inbox there.
• Moving money is not trading. A move never changes the coin’s price, never counts as volume and never holds up a trade.

When a move arrives short. A move is supposed to deliver the full amount, with the provider’s charge taken from Braid’s allowance. If it arrives short anyway, the shortfall is measured against the coin’s money alone, and what happens depends on its size:

• Within that move’s allowance: the coin is credited what actually arrived, and the difference is recorded as Braid debt, repaid from Braid’s fee share. The unpaid difference remains Braid debt until it is repaid. For example, Braid moves $100 of a coin’s money with a $1 allowance, and $99 arrives: the coin is credited $99 and Braid owes it $1.
• Beyond the allowance: the arrival is refused and never credited. The money waits in the coin’s inbox on that chain, and that coin’s money stops moving over that route until the case is resolved. If the same $100 move delivered $90, nothing would be credited. Braid does not underwrite a provider’s losses beyond the allowance; a loss beyond it stays with the coin’s holders.

Braid does not wait for a seller to be owed. It positions each coin’s own money ahead of time, toward the chains where that coin’s holders could take the most out. For each chain, Braid works out what the coin’s holders there would receive if they sold, and aims to keep a share of the coin’s money on that chain in proportion. It follows where the holders are, not where trading volume is. A big sale should then usually find enough money already on its chain, and an owed remainder becomes the rare case.

The limits are real:

• It cannot cover every holder at once. What all holders could take out if each sold first adds up to several times the coin’s money, so positioning covers typical sells, not everyone selling together.
• Owed sellers come first. A chain with sellers owed does not send money away to build up another chain, because that money is theirs first. Money goes to the chain with the oldest owed sale first.
• It does not churn. Braid moves money only when a chain is well away from its share and the amount is worth the fee, and it does not move money back and forth over the same route. One move per route per coin is under way at a time, so a large owed amount can be paid in rounds.
• It moves only between the coin’s own chains. A two-hop move needs a middle chain that is also one of the coin’s chains.

A braided coin’s market is kept in dollars on each chain: USDC on Solana, Base and Arc; Binance-Peg USDC on BNB Chain; and USDG on Robinhood Chain. Braid moves those dollars with two outside services. Money moves only between the coin’s own chains, and each move can only be delivered into the coin’s own inbox.

Every fee is capped at 1% of the move, as described in the rules on the money.

Over a direct route, an owed amount is paid by moving the coin’s own money to the selling chain: the provider’s time plus Braid’s own signed steps on both chains. A two-hop move takes two of those in a row. There is no guaranteed payout time. On BNB Chain and Robinhood Chain the wait can be indefinite, because when Across cannot carry the money, those chains pay owed sellers only from new buys there; see when a route is down.

Braid’s Across routes connect BNB Chain and Robinhood Chain to Base and Arc, and Circle’s service does not reach BNB Chain or Robinhood Chain. So money between those chains and Solana makes two moves, through Base or Arc.

• The second leg is decided only after the first arrives. Once the first leg lands on the middle chain, the money is the coin’s money there, and Braid sends it on as an ordinary direct move. Each leg is its own signed move over its own route.
• The middle chain must be one of the coin’s chains. Money never rests on a chain where the coin does not trade. So a coin that trades on neither Base nor Arc, such as one on Solana and BNB Chain, has no route between its chains. Its owed sellers are paid only from new buys on their own chain, with no guaranteed time. Check a coin’s chains before you rely on cross-chain payouts.
• Money moved to pay a seller stays set aside for that seller. If other sellers on the middle chain become owed while the first leg is under way, they are not paid from it. Once it lands, it is sent on toward the seller it was set aside for.

• Circle’s service slow or down. The burn is already recorded on the sending chain, so the transfer can complete once Circle signs it and the destination can accept it. A prolonged outage can keep the funds unavailable. If Circle’s fast-transfer capacity runs out, or a fee estimate turns out too low, Circle signs the move as a standard transfer instead, after the sending chain’s finality. From Base, that takes about 15 to 20 minutes.
• Across down for BNB Chain or Robinhood Chain. That chain falls back to same-chain payout: its owed sellers are paid from new buys of the coin on that chain, in order, with no guaranteed time. If enough new buys never arrive there, the owed amount may never be paid. The coin’s other chains keep trading normally. A second provider for these chains is planned After launch.
• Either way, your sale stands. A failed or slow move never cancels a sale or changes its price. The owed amount stays fixed in dollars until it is paid.

Across delivers only when a relayer fills the deposit. If none does before the deposit’s deadline, Across returns the money to the coin on the sending chain. That return can take hours. Until it lands, the money counts as in transit: it is still the coin’s, but no chain can pay it out. When it comes back, the sending chain is credited again, and Braid plans the move afresh. A returned move never cancels a sale, and the seller stays owed.

A Circle move cannot come back once the burn is recorded. If its mint fails, for example because the stablecoin’s issuer has blocked the receiving account or paused its token, the money waits until the mint can complete. It cannot be redirected anywhere else, because Circle’s signed message names the coin’s inbox.

• The receiving chain halts. The move lands when the chain recovers. Owed sellers there wait too, and so does everything else on that chain.
• The sending chain halts. A move that was not yet confirmed there does not go. A move that was already confirmed and signed by Circle, or filled by Across, can still land on the other chain.
• A rollback. Braid counts an arrival at the same fast confirmation level it uses for payments, so a chain rollback after that is the same disclosed chain risk. Circle signs a fast transfer before the sending chain is final, and Circle’s own design carries the risk of a rollback on that chain after it signs. Braid does not cover losses from a chain failure; see risks.

A trade on Braid depends on services Braid does not run. Each of them can fail. Braid covers only failures it caused, and the bounded cover for a short arrival described in the rules on the money.

A Standard coin has a separate market on each chain its creator picked. Each chain’s market pays its sellers only from that chain’s buyers’ money, in that chain’s own coin. Nothing moves between chains, nothing is owed across chains, and neither Circle’s service nor Across is involved. Its outside dependencies are the chain, its data providers and, after its curve fills, its graduation exchange.

You can move a braided coin’s tokens from one of its chains to another. This is separate from moving the coin’s money. The move locks tokens on the source chain and releases the same number on the destination, so the total stays the same. Moving your own tokens between a braided coin’s chains costs the real moving cost plus 0.10% of the value moved, at least $1 in total. There is no minimum move size beyond the $0.01 dust floor. The full charge is shown before you confirm, including when it exceeds the value moved. See one circulating supply.

If a braided coin winds down, Braid stops moving its money. Each chain’s pool is made from the coin’s money on that chain that no owed seller has a claim to. Every chain’s pool starts at the same last shared price, but each pool is only as deep as the money there.

• Owed sellers keep their claim. An owed amount was fixed in dollars when the sale was priced, and the software never diverts it. Money set aside for an owed seller does not go into any pool, even when it is held on another chain, and anyone can complete that payout without Braid.
• Sellers owed on a chain are paid first from the coin’s money on that chain. Anything still unpaid stays owed, and is paid from the money set aside for it.
• Money still in transit is unavailable to the initial pool. It lands in the coin’s inbox on the receiving chain and follows the wind-down sweep and owed-claim rules. A coin with money and matching tokens can open its pool right after wind-down; a zero initial pool amount waits for checkpoint finality and enough money and tokens.
• What remains a risk. A chain, bridge or stablecoin that is lost for good takes the money it holds with it. Braid does not cover that loss; see risks.

Read next: settlement and refunds for how payouts, owed amounts and refunds are delivered, and risks for what Braid does not cover.

BRAID uses the same curve, graduation target and 1.25% fee as any braided coin. No more than one billion circulate across all its chains while the shared market runs. It has no mint function, no team allocation and no presale. Its creator share and its opening surcharge fund BRAID buybacks within the published limits.

Holding BRAID gives no right to a cash payment, a minimum price or a sale against Braid’s treasury. BRAID sellers are paid from BRAID buyers’ money, under the same rules as any other coin.

A disclosed developer wallet buys 10% of the supply in the launch itself, before the opening window starts. At the $10,000 target that costs about $349. The buy is priced first and pays no surcharge. The purchased output goes directly to an immutable burn-only vault. Anyone can trigger the real burn from 20 minutes after public opening. The vault has no withdrawal or upgrade path. A chain outage can delay execution; the tokens remain burn-only and any delay is public. The purchase, vault, scheduled time and actual burn will be visible in the launch records. The 100 million economic tokens burned are reported once, not multiplied across chain inventories.

This is a purchase followed by destruction, not tokens kept for a team to sell later. The burn does not make the price go up or stop other buyers from selling.

BRAID’s buy surcharge starts at 99% and falls to zero over ten seconds. It steps down once a second (99%, 89.1%, 79.2% and so on), and once a block on Base, where blocks are 2 seconds apart. Sells never pay it. The surcharge goes to BRAID’s creator share. The usual fee applies to what is left.

At the opening, a $100 buy gives $99 to the surcharge, leaving $1 before the 1.25% fee: 99.0125% in charges. At second 3 the surcharge is 69.3%. Check the window before you buy. An instant-trade button does not ask you to confirm.

The fee-funded buyback-and-burn program operates from BRAID’s mainnet launch. It makes small buys at random gaps of five to fifteen minutes, with the purchased output actually burned in its settlement transaction under the buyer’s signed terms. A buy may move the price by at most 0.25%. Daily buying is capped at 1% of the money in BRAID’s pool and 5% of BRAID’s daily trading.

The thirty-minute average is the time-weighted post-trade marginal curve price, excluding fees, from BRAID’s global certified history. Recurring purchases wait for a full thirty-minute history and are skipped when the price is more than 2% above that average. Pool money means actual aggregate quote principal backing BRAID, excluding virtual reserves, fees, refunds and duplicate in-transit money. Daily volume counts certified buy and sell value once across chains during the UTC day, excluding these buybacks, the opening buy and identified wash activity. Spend includes trading charges and unresolved reservations; gas and conversion costs are reported separately.

Funding comes from the disclosed trading allocations, the applicable Braid surplus allocation, net braided-launch and move-fee margins, and BRAID’s own creator revenue and surcharge, counted once. Unused allocations roll forward indefinitely, never into cashback or Braid profit. Price and liquidity limits can mean no purchase on a day. Daily records distinguish funding, costs, reserved and spent money, actual burns and pending balances, including backlog age. A policy or a simulation is not evidence that a buy happened.

The signer council checks the leader, the engine that orders and prices braided trades. Four signing machines each hold an independent key in a separate cloud account. Each works out the result again and records it before signing. A result needs three of the four signatures; one key cannot authorize a trade, and each signer refuses conflicting results for the same step. Losing one machine leaves enough signatures to continue. Losing two stops certification.

Braid operates every signer. Separate keys are protection against a single failure, not an outside validator network or protection against a shared software bug. You can check: compare a result’s signatures with the registered signer set and threshold. See checking the records.

A second engine in another cloud region keeps a copy of the market record and can take over when the leader fails. A takeover locks the old leader out through the signers, so two leaders cannot both continue certifying conflicting markets. This protects recovery from a server failure; it does not replace missing signers. Losing the signers’ cloud region still stops trading.

You can check: follow certified results and venue deliveries before and after a restart, rather than treating a running server as proof that trading has recovered. How Braid runs explains health checks and pauses.

Signing keys stay in hardware-backed cloud key services that do not export the private key. The stronger power to upgrade venues uses a separate two-of-three multisig: three hardware wallets kept in separate places, with two needed to approve. On Solana, that authority is a Squads multisig. Keeping keys off ordinary servers makes copying them harder; it cannot stop an authorized key from being misused.

Each Solana upgrade member signs a fixed custody statement identifying its public key, device type and role. The owner’s deployment approval binds the Solana program’s custody settings, including the multisig, members and threshold. On Solana, a watcher alerts if membership, threshold, permissions, the time lock, rent collector, program upgrade authority or deployment changes. You can check: verify the signatures and compare the approved settings with the on-chain accounts. A signed device label is the owner’s assertion, not proof of the physical device. The EVM multisig is not covered by these custody checks. Monitoring detects changes; it does not block an upgrade.

Checking a deployment against a list supplied by that same deployment would let a replacement list approve itself. Braid’s Solana custody checks use a separately reviewed, pinned record: the owner’s approval key, Solana program and upgrade multisig settings. Changing the deployment file alone cannot authorize different custody. The owner’s signature and hardware-member statements must match the pinned record.

You can check: compare the reviewed custody record, signed deployment approval and live upgrade authority. Keep a trusted copy of the record separately from the deployment you are checking. These checks run in Braid’s own deployment checks and watcher. They rely on the original review and on the operator’s configuration and software staying unaltered; a valid signature cannot tell you whether its owner made a good decision.

A braided coin’s sellers are paid only from money that coin’s own buyers put in. Braid supplies no market capital, borrows none and does not use another coin’s money. Moving liquidity between chains moves that same coin’s funds. This keeps one coin’s obligations separate from another’s.

A sell can leave an amount owed if that coin lacks available money on the selling chain. A debt record is not a guaranteed payout time, and the amount may remain unpaid if money never becomes available. You can check: compare the coin’s per-chain books, payments, transfers and amounts owed. See how money moves between chains.

A braided buy can fill only part of your order while keeping the price per token within your limit. The unused payment returns in the same settlement. A buy that cannot fill returns its payment. This prevents a price move from forcing the whole buy through beyond your limit. A seller’s unpaid remainder is different: the sale has been priced, and the outstanding money stays owed.

If a committed payment remains unsettled, reclaim opens 10 minutes after it landed. Anyone can trigger it, but the money goes only to the party recorded in the payment, never to whoever calls it: the account that paid or, for a trade in the chain’s own coin, the recipient named in the signed order. A refund service runs separately from the engine; you do not need Braid’s permission to call reclaim yourself. You can check: use the payment’s on-chain landing time and settlement or reclaim record. Ten minutes is when reclaim becomes possible, not a delivery guarantee: the chain must work and the transaction must run. See settlement and refunds.

Braided trades are ordered within each coin by when their payments landed on chain, rather than by when Braid first saw them. Signers check that order. A short, bounded wait allows earlier payments on another chain to be included; it cannot make separate chain clocks perfectly fair or eliminate front-running. An earlier payment admitted after a later payment in the same coin has already been priced is refunded whole, rather than filled at the moved price.

You can check: compare chain payment records, the coin’s published trade order and its signed results, including whole refunds. The time you clicked is not the landing time, and the displayed price is not reserved. Base has a disclosed timing exception: it stamps trades with the end of their block, so they can appear later than they really landed and be priced after trades that actually landed later on other chains. See pricing and ordering.

A venue, the contract holding a braided coin’s funds, refuses new payments when Braid’s signed updates are too old. A troubled chain can be held or paused while healthy chains continue. Separate watchtower keys can pause, but cannot restart trading, change rules or move money. Restart approval requires the guardian multisig and the signers.

Each braided coin also has a payout allowance that limits how quickly ordinary payouts can leave a chain. Refunds and reclaims return the original payment rather than drawing on the coin’s market money, and are exempt. The allowance refills, so it is not a fixed loss cap and can still allow a small pool to be emptied. You can check: read the venue’s pause state, latest signed update, payout allowance and guardian. See admin powers.

If no fresh certified Braid update reaches a venue for 14 days, anyone can trigger its wind-down. A continuous venue pause or local hold also opens that exit after 14 days. The venue stops new trades and uses its last accepted shared checkpoint to settle claims under the wind-down rules and put remaining coin money with matching tokens into a local pool. At launch, every chain uses Braid’s fallback pool for this exit. Leftover unsold tokens are burned once both pool amounts are positive, either at wind-down or when the pool opens. Holders keep their tokens and can trade against that pool if reserves remain; they do not receive a guaranteed cash redemption or a share of withdrawable liquidity. The shared market ends and prices can diverge between chains.

For seven days after a venue’s first wind-down, a certified heartbeat dated before that wind-down can still replace the stored checkpoint, so a coin wound down later that week may use a newer one. A coin with both money and tokens to pool can open its pool as soon as it is wound down. If either pool amount is zero, it waits until the checkpoint is final and needs enough money and tokens before a pool can open. Ordinary trading has a 1.25% lifetime fee. After wind-down, trading in Braid’s fallback pool has a 0.30% fee, retained in that pool; this is a separate market, not an extra charge on ordinary trades. The EVM fallback contract has no owner, upgrade, pause or liquidity withdrawal. On Solana, fallback trading is part of the venue program and remains subject to its upgrade authority. You can check: the venue’s last certified update, trigger state, checkpoint, claims and pool reserves. The checkpoint records needed for exits have public copies outside Braid’s domain; at least two verified copies are required before Braid releases a new heartbeat certificate. Keep a copy yourself. An exit still needs a working chain. See wind-down.

On every chain where a coin is launched, its token starts with one billion units and has no way to mint more after creation. The token has no administrator that can freeze or blacklist a holder, and cannot be upgraded. For a braided coin, the venues hold unused inventory and moves between chains lock and release existing tokens; they do not create more circulating supply. The shared circulating supply is bounded by one billion while the shared market runs. After wind-down, circulating and pooled tokens together can exceed that bound by the disclosed checkpoint drift. Standard launches have separate supplies on their selected chains.

You can check: inspect the token’s source, supply and authorities, then compare circulating tokens with the venues’ locked inventory. On Solana, check that mint and freeze authorities are removed. A fixed supply does not support a token’s price. See contracts and tokens.

Graduation moves a Standard coin’s curve liquidity into its designated exchange pool with the liquidity position permanently locked. Collecting fees does not unlock that principal. A braided coin instead keeps its money and reserved tokens in its shared market after graduation. Its wind-down rules provide a local pool as described above.

This protects against removing the graduation liquidity; it does not prevent losses from trades or changes to an outside exchange’s rules. You can check: follow the graduation transaction to the designated pool and inspect the locked position and its withdrawal rights. On Solana, the destination exchange can change fees or disable its pool despite the position being locked. See launch modes and risks.

Braid’s two-of-three hardware multisig controls upgrades to Braid’s venue contracts on the EVM chains and to Braid’s Solana programs, for both launch modes. Upgrades allow bugs to be fixed, but can change any venue rule, including the rules protecting funds and wind-down. Upgrades can run immediately. EVM upgrades record the replacement code’s hash on chain, and execution checks that the code still matches. Someone who compromises that authority could take money held in a braided venue or on a Standard coin’s curve before graduation. The coin’s fixed token cannot be upgraded; the EVM token factory is also immutable.

You can check: inspect the current implementation, upgrade authority, multisig members and threshold, and compare changes with the approved custody record. Hardware, signatures and alerts reduce some risks; they do not remove the authority’s power. See admin powers.

Braid’s trading wallet creates and encrypts its keys in your browser. Its code is served by Braid’s own site. A passkey protects access to them; Braid does not hold the private keys. You can export them and keep a private backup. Passkeys are the default credential, with a passphrase as a fallback. Once you commit a payment, its settlement and recovery follow the venue’s rules.

You can check: compare your wallet’s addresses with its on-chain balances and keep a backup you control. A browser wallet is a hot wallet: malicious software or a compromised site can expose its keys, and clearing browser data without a backup can lose access. A passkey does not make it a hardware trading wallet. See getting started.

Payment transactions, signed results, delivery records and amounts still owed let you compare what Braid recorded with what reached the chain. Anyone can submit a valid signed result for delivery before it expires; delivery does not depend on Braid’s servers alone. A result’s proof connects it to a batch approved by the signer council. Keeping those records helps you identify a refund, an unpaid remainder or a delivery that has not happened yet.

You can check: start with your order identifier and transaction in checking the records. A signature proves approval by a key; it does not prove that the signer’s code was correct, that all records were published or that a chain will not roll back.

A coin can be a scam or lose all its value. Braid accepts fast chain confirmations, so a chain rollback remains a disclosed risk borne by holders. Braid does not insure chain failures, bridge losses or stablecoin freezes, apart from the bounded cover for a short cross-chain arrival described in how money moves between chains. That cover records at most 1% of the move as Braid debt, repaid from its fee share. Its recovery rules allow only specific, limited compensation, including restoring a coin’s books after a failure Braid caused and recording anything unpaid as Braid debt. Braid does not reimburse missed gains, delays or opportunity cost. Reserve shortfalls caused by price drift during an outage are not reimbursed: remaining holders bear them through price. Later payouts and refunds convert at the execution price, so they do not guarantee the original native-coin value.

You can check: read the coin’s launch settings, the venue authorities and the risk disclosures before committing funds. Braid has no outside security audit and no bug bounty, and there is no insurance fund. Internal testing and public records are evidence, not a guarantee. For a security problem, contact support@launchbraid.com; see security and audits.

The token’s supply is fixed when it is created. It has no mint function, no admin and no freeze. The factory that creates it cannot be changed either, and only Braid’s launcher key can use it, so Braid alone decides which braided coins exist. A venue upgrade never makes the token upgradeable. Holders can burn their own tokens.

Each chain’s token contract holds one billion tokens, but no more than one billion of a braided coin circulate across all its chains together while the shared market runs. When you look at a token’s largest holders on an explorer, tell apart the unsold tokens held by a venue from tokens held by people. Moving tokens between a braided coin’s chains locks them on one and releases them on another.

Each EVM chain has a Braid venue contract, and Solana has a Braid venue program. They take payments, check signed results and deliver the matching tokens, payouts or refunds. Their books keep each coin’s money, fees and amounts owed apart.

The venues are upgradeable. A token transfer that works does not show that trading, fee collection or recovery works on that deployment. Check its registered environment and active version.

A two-of-three multisig, using three hardware wallets kept in separate places, can upgrade every venue and is also the guardian. It can replace venue code and so change signature checks, payout limits, pause rules and wind-down. Someone who stole two of those three wallets could take every coin’s money held in the venues. Users trust that multisig as well as the signing system.

At launch, upgrades have no required waiting period. Changes to the signer set or the guardian take effect 24 hours after approval. Separate watchtower keys can only pause, and a restart after a pause needs the guardian as well as the signers.

The full list of roles and the failure timeline are on admin powers.

Use the coin’s identifier, the chain and the registered venue address. A braided coin’s token has the same address on each of its EVM chains, ending in b12a1d, derived from its coin identifier by a public formula. Its Solana address ends in braid. Each venue records the coin’s addresses on the other chains. A familiar ending, name or ticker alone is not enough: anyone can make an address that looks similar.

Read the environment’s configuration and compare it with the on-chain records. Confirm that the address belongs to Braid’s registered deployment and that its authority matches what is published. The verification guide explains what public records can show.

The upgrade multisig is the strongest power in the system. Because it can replace contract code and is also the guardian, someone who steals two of its three hardware wallets could take every coin’s money held in Braid’s contracts. Braid keeps the wallets in separate places to make that hard, but no rule in the code prevents it.

Someone who steals the signing keys, but not the multisig, is slowed by each coin’s payout limit, an allowance that starts full and refills over an hour, until a pause takes effect. That is not a fixed ceiling: a thief can take up to the full allowance at once, and a coin with less than $10,000 on a chain could lose all of it there. Anything forged beyond what was paid out is voided after recovery. One case remains: if Braid could never recover and a coin wound down after 14 days, a forged amount recorded as owed to a seller could still take that coin’s pool at the wind-down.

• Mint more of a coin’s token. The token has no mint function.
• Freeze, pause or blacklist a holder’s tokens. The token has no admin.
• Upgrade the token or its factory. Both are fixed for good, so a coin’s token address never changes.
• Raise a coin’s creator tax or change its trading fee after launch. Both are fixed when the coin registers.
• Withdraw liquidity from Braid’s fallback pool, or from a Standard coin’s locked exchange pool. Neither has an owner or a withdrawal.

Tokens and factories remain immutable. Existing immutable escrows pin their adapter and code; a venue upgrade cannot replace that escrow, adapter or a pool’s fixed hook, or move permanently locked liquidity. Compatible fixes can reach upgradeable venues and programs. Changed economics, quotes, hooks and graduation destinations use new coins and versions; existing coins keep their original terms and pair. No pair can be added or changed on a live coin. These frozen terms are governance and compatibility commitments wherever upgradeable custody exists: the multisig can still replace that custody code, as above. An external exchange’s own upgrade powers remain outside Braid’s control.

Venue upgrades have no required waiting period at launch. The multisig can change venue code, including the rules that protect funds.

Braid aims to give advance notice of planned changes, pauses and upgrades where it can, but cannot guarantee a notice period. Emergency pauses can happen without notice. No rule in the code requires notice beyond the on-chain announcement.

These timers protect a payment that Braid has not settled. They are fixed in Braid’s contracts unless stated.

All of this needs a working chain. A halted chain cannot run a reclaim or a wind-down until it recovers.

At launch, one engine, the leader, orders and prices each coin’s trades. A hot standby in a second cloud region keeps the state it needs to take over automatically if the leader fails, without starting a second, conflicting market. Failover is designed to finish well inside the 240 seconds before a venue stops taking new payments.

A standby that is running does not by itself prove that recovery works, so Braid drills failover, including a signing machine disappearing during a batch.

Four signing machines each hold one key, in four separate accounts and separate zones of one cloud region. A result needs three of the four keys, so trading continues if one machine is lost. If two are lost, or the whole region goes down, trading stops until they are back. Each machine checks the engine’s result by working it out again before signing, and refuses to sign two different results for the same step.

At launch every machine runs Braid’s main code. A second, independently written checker on the signing machines is After launch. Braid operates every signer; they are not an outside validator network.

The signing keys are held in hardware or a cloud key service that cannot export them. Protected keys make theft harder, but they do not stop software bugs, an operator compromise or misuse of the signing the machines are allowed to do.

Collectors watch each chain for payments through two independent data providers, and both must agree while both are healthy. If one fails, Braid admits payments from the other alone until they agree again; if both fail, the chain only returns payments. Dispatchers save each delivery, send it and, after a failure, check what already landed before retrying, so a retry never pays twice. Read services show the state but never set prices.

Braid sends a signed heartbeat to every venue about every 2 minutes when idle. A venue refuses new payments after 240 seconds without one. If deliveries to a chain fail, Braid holds or pauses that chain alone: its venue refuses new payments until it is fixed, while the coin’s other chains keep trading.

Recovery must match the engine’s records with each venue’s actual books. A payment waiting on a held chain fills in its place in the coin’s order only if no later trade in the same coin was priced meanwhile; otherwise it is refunded in full. It is never filled at a moved price. Refund timing, corrections and amounts still owed stay visible throughout.

If Braid stays silent, paused or on hold for 14 days, anyone can wind a venue down. The shared price ends and each chain gets its own pool. See wind-down for the full rules, and admin powers for who can change them.

On each chain, Braid’s contract can be wound down once any of these has lasted 14 days:

• no signed message from Braid has reached it;
• it has been paused;
• its own hold switch has been on. Braid can hold one chain’s contract by itself while that chain has trouble.

A held heartbeat still counts as Braid being alive. Braid keeps sending heartbeats marked “held” while a chain has trouble, so one blocked chain cannot make every other chain windable while Braid is running. After 14 days, anyone can call the wind-down. Braid does not have to.

1. The contract latches. From then on it takes no new trades.
2. It reads the coin’s last checkpoint: the last shared price and books that Braid signed before going silent.
3. It pays what the coin owes on that chain, such as a seller’s unpaid remainder.
4. It puts the coin’s remaining money on that chain into a pool with matching tokens at the last shared price.
5. It burns the coin’s unsold tokens that do not go into the pool when the pool has money and matching tokens. If an initial amount is zero, the burn waits until a pool can open.

After that, the shared price ends. Each chain trades on its own, and prices on different chains can drift apart.

At launch, every chain uses Braid’s own fallback pool for wind-down. It is a minimal constant-product pool with a 0.30% fee kept in the pool. On EVM chains, the fallback contract has no owner, upgrade or pause and issues no liquidity tokens or withdrawal rights. On Solana, fallback trading runs in the venue program and remains subject to its upgrade authority. See safety and trust.

When the coin has both money and matching tokens for its pool, anyone can open the pool right after wind-down, with no seven-day wait. If an initial pool amount is zero, opening waits until the checkpoint is final, seven days after the contract latches, and enough money and tokens are available. A heartbeat signed before the latch can still arrive during that checkpoint window. A coin that never has enough money cannot open a pool.

Trades between the last delivered checkpoint and the latch are called drift. The contract publishes each chain’s drift, so anyone can see how far the wind-down’s books differ from the last shared state.

A wind-down needs transactions on a working chain. It cannot help on a halted chain until that chain recovers. It does not replace money lost to a bridge, a frozen stablecoin or a chain failure. The upgrade multisig can change these rules, as described in admin powers. And if signing keys were stolen and Braid never recovered, a forged amount recorded as owed could take a coin’s pool at its wind-down.

A faster exit is planned for after launch: if Braid stops delivering to one chain, holders there will be able to sell after about half an hour, in rounds paid pro rata from that chain’s own money at no more than the last shared price After launch.

Standard coins do not need a wind-down. Their trading runs on chain without Braid. See launch modes.

Keep the coin identifier, order identifier, chain transaction and environment. Check that the payment reached the registered venue on the intended chain. Then follow its admission, its priced outcome, its certificate and its delivery record.

A certificate signs a batch of results. Each result’s proof ties it to that batch, and the venue record shows whether it was applied. An owed part of a sale has its own owed and paid history. A refund or a correction is part of the record, not an ordinary completed trade.

Braid publishes a public verification kit. With it, anyone can replay Braid’s maths and ordering, check the signatures and compare the results with what the chains recorded, without Braid’s engine code. It uses the market log archive, versioned formats, registered addresses and any publicly recorded Braid debt.

Braid’s read service answers the routes below. The list is generated from the service’s route reference. Use the service base URL supplied for your integration environment; this page does not publish a production API address. Start with the integration guide.

Call GET /v1/health before offering a trade, and do not offer one when it says no. Amounts are whole-number strings in the asset’s smallest unit; prices carry exact fractions and formatted decimals. Keep those units when you check fees and output. Each answer says which point in the log it reflects and how fresh it is. An unavailable or stale answer does not mean an order failed, and the read API cannot trade.

Replay can catch wrong arithmetic, bad signatures or a wrong published order. It cannot prove what Braid’s operators did out of view, find every insider wallet or remove a chain’s rollback and censorship risk. It is only as complete as the chain history and records the checker can get.

Braid runs every signing machine at launch, and the upgrade multisig can change venue code. Public checking adds evidence; it does not remove those trust assumptions. Read admin powers and risks alongside a successful replay.

Braid has no outside audit. Treat Braid’s contracts and engine as unaudited. Braid also has no bug bounty and no insurance fund.

Braid tests its code through adversarial reviews, internal penetration tests, invariant and property tests over random trade histories, and replay of recorded market logs. None of these is a guarantee. Internal testing can miss what an outside reviewer would find.

Braid’s signer council is operated by Braid: four signing machines in separate accounts, with three signatures required for a result. Each key stays in hardware or a cloud key service that cannot export it. A separate two-of-three hardware-wallet multisig controls venue upgrades. These controls reduce key-theft risk; they do not remove operator or software risk.

The upgrade multisig can replace venue code and could take funds held there if compromised. See contracts and admin powers for those powers.

A payment that was not settled can be reclaimed from 10 minutes after it landed, on a working chain. Anyone can trigger the reclaim. On reclaim, ordinary payments return to the account that paid; trades in the chain’s own coin pay the recipient named in the signed order. Calling reclaim never changes the destination or grants the caller a right to the funds. Delayed sell proceeds remain owed from that coin’s own money. See settlement and refunds.

Before Braid releases a checkpoint heartbeat, at least two complete, verified copies of its exit data must be publicly available. The copies use provider-hosted addresses outside Braid’s domain, so holders can obtain wind-down proofs if Braid’s site is unavailable. A wind-down still needs a working chain and cannot recover funds lost elsewhere. See wind-down.

• Internal penetration tests of the contracts, the engine, the signing machines and the trading wallet.
• Exact-book checks: every chain’s contract books must match the engine’s records to the smallest unit.
• Random-history tests that check no sequence of trades creates or loses money in a coin’s books.
• Burst and failure tests of the full system, including losing a server or a signing machine.

• contract sources and a public verification kit, so anyone can check Braid’s ordering and prices against the chains;
• the market log archive;
• penetration test reports, once their findings are fixed;
• short terms for the public API.

The trust model is on admin powers. The upgrade multisig can change contract code, and a stolen multisig could take everything held in Braid’s contracts.

Email support@launchbraid.com with what you found and how to reproduce it. Please do not test against other people’s funds, and give Braid time to fix an issue before you publish it. Braid offers no bounty payment.

Anyone can launch a coin, and Braid does not check a creator’s claims. A coin can be a scam or lose all its value. Large trades move the price. The price you see when you click is not reserved: your trade fills against the market as it stands when it is ordered, within your limit, and its own size moves the price.

A braided coin with creator payouts can add a fixed 0–3% tax. A creator can also choose an opening buy surcharge of up to 99%. BRAID’s surcharge starts at 99% and falls to zero over ten seconds, so a very early buy can spend almost all of its payment on charges. Check the coin’s settings.

On every chain except Arc, a braided buy and every money payout convert between your chain’s coin and the coin’s dollar pool through an approved outside exchange route. You pay the route’s fees and get its price. A later payout, refund or owed amount converts at the price when it is paid, so you bear any price movement in between.

Braid’s trading wallet keeps an encrypted key you can export in your browser. A compromised device, browser or site can expose it. Clearing browser data without a private backup can lose it. Keep only a small balance there. Instant-trade buttons send without asking you to confirm.

Braid accepts a payment at a fast confirmation level rather than waiting for full finality. Blocks can be reversed, transactions can be censored and chains can halt. On BNB Chain, Braid accepts “justified” blocks before they are finalized. Base and Robinhood Chain use their sequencer’s confirmation. Robinhood Chain also has a role that can filter transactions. Base trades are stamped late by their block and can be ordered behind trades that really landed after them.

Bridges can lose money, and stablecoin issuers can freeze funds or lose their peg. Braid does not cover losses it did not cause. Those risks stay with holders. Braid pays routine costs of moving a coin’s money within a committed allowance of up to 1% per move, and records a short arrival within that allowance as Braid debt, repaid from its fee share. Larger provider losses are not covered.

Braid runs all four signing machines. A result needs three of the four, so losing one machine does not stop trading, but losing two, or the cloud region they run in, does. The three-of-four rule does not remove the risk of a shared bug or an operator compromise.

Braid’s upgradeable EVM venues, including native Standard per-coin proxies, and its braided and Standard Solana programs are controlled by the two-of-three hardware upgrade multisig. It is also the guardian. It can change any venue rule, including those that control money. Someone who stole two of its three wallets could take every coin’s money in the venues. Upgrades have no required waiting period at launch. See admin powers.

The token and factory are fixed, but the venues’ safety depends on their code and their authorities. Braid relies on its own testing and reviews. Braid has no outside audit, no bug bounty and no insurance fund. See security.

A Standard coin does not depend on Braid’s engine or signers, but its curve contract or program can still have bugs. After it moves to an exchange pool, anyone can create a second pool for the same token, and the exchange’s own rules can change. A Standard launch on several chains is separate on each: one can succeed while another fails.

A sell is paid only from its own coin’s buyers’ money. Part of a sale may stay owed when local money or the available payout allowance is insufficient.

For braided coins on BNB Chain and Robinhood Chain, any unpaid amount stays owed until this coin has enough money on the selling chain. Buys on other chains do not fund that payout unless this coin’s money is transferred there. There is no guaranteed payout time, and the unpaid amount may never be paid if enough money never becomes available. A refilled allowance alone cannot pay an amount without this coin’s money on that chain. Braid does not add its own money or use another coin’s money to pay sellers.

A buy may fill in part and refund the rest. A reclaim becomes possible 10 minutes after your payment landed; that is not a promise that money reaches you by then. It needs a working chain and a transaction that runs.

If Braid causes a shortfall, Braid restores the coin’s books from its own money, and records anything unpaid as Braid debt. Market losses, missed gains and delays are not covered, and neither is a shortfall from prices moving while a chain was not receiving Braid’s results. The 14-day wind-down depends on venue rules and working chains. It cannot recover money lost elsewhere.

Read settlement, contract powers, the terms and the privacy notice together.

See fees and creator earnings.

Prices are for a braided coin’s $10,000 target. See the curve and its worked example.

Braid accepts a payment at a fast confirmation level, not at full finality. A deeper chain reversal is a disclosed risk.

See the failure timeline.

Braided coin

A coin with one shared market across two or more chains its creator picked. A trade on any of them moves the same price. See launch modes.

Standard coin

A coin with a separate market and price on each chain its creator picked, from one chain up to every chain Braid supports, run on chain without Braid’s engine.

Bonding curve

The formula that sets a coin’s price from how many tokens have been sold. Each buy raises the price and each sell lowers it.

Curve principal

The money in a coin’s curve, not counting fees. The graduation target is measured in curve principal.

Graduation target

The amount raised when all 800 million curve tokens are sold: $10,000 of curve principal for a braided coin, or a fixed amount of the chain’s own coin for a Standard coin.

Almost bonded

A coin close to its graduation target.

Bonding

The short state after the buy that fills the curve is priced, while Braid waits for that buy to be delivered on its chain. Trading continues.

Bonded

A coin whose filling buy has been delivered. Only a chain reversal that undoes delivery can reverse the bond. A braided coin then trades in its permanent Braid pool at one shared price.

Permanent pool

Where a bonded braided coin trades: the 200 million reserved tokens and the money raised, locked for good.

Price impact

How much your own trade moves the price.

Slippage limit

The worst result you accept for a trade. A buy that cannot fully fit inside it fills in part and the rest is refunded.

Fairness wait

The short time, at most 0.3 seconds, that Braid holds a trade while an earlier trade on another chain is still being confirmed.

Landing time

The time a payment’s own chain records it. Braid orders a coin’s trades by landing time.

Trading coin

The coin you pay and receive on a chain: SOL, BNB or ETH, or USDC on Arc. A braided coin’s shared market is kept in dollars, and buys and money payouts convert to and from your chain’s coin in the same transaction, except on Arc, where USDC needs no conversion.

Creator tax

An optional extra charge of 0–3% on a braided coin with creator payouts, chosen at launch and paid to the creator.

Anti-snipe surcharge

An optional extra charge on buys right after a coin opens, falling to zero over a set time. It makes very early bot buys expensive.

Dev buy

A disclosed buy by the creator’s wallet, priced before the coin opens to everyone.

Owed remainder

The part of a sale that cannot be paid at once on the seller’s chain. Its amount is fixed when the sale is priced. On BNB Chain and Robinhood Chain, payment depends on this coin’s money becoming available on the selling chain, with no guaranteed time; it may never be paid.

Payout limit

An allowance that refills over an hour and controls how much a coin’s contract on one chain can pay immediately. A payout above the available allowance is recorded as owed. Payment also requires this coin’s money on the selling chain; the allowance alone does not guarantee payment.

Reclaim

The on-chain action that returns a payment Braid did not settle. Anyone can trigger it from 10 minutes after the payment landed.

Refund

Money returned after a reclaim or as the unused part of a partly filled buy. On reclaim, ordinary payments return to the account that paid; trades in the chain’s own coin pay the recipient named in the signed order. Calling reclaim never changes the destination or grants the caller a right to the funds.

Claim, claimable

A payout that could not be sent, for example to a blocked account, is held for its owner to collect. It is never refused or sent to anyone else. An order in the claimable state has money waiting to be collected.

Correction

Braid’s reversal of a priced trade it failed to deliver. The payment comes back through a reclaim.

Compensation

Money Braid pays from its own funds to make a coin’s books whole after a failure Braid caused, or after a cross-chain move arrives short by no more than that move’s fee allowance.

Braid debt

Compensation Braid owes but has not yet paid. It is recorded publicly.

Venue

Braid’s contract on an EVM chain, or Braid’s program on Solana. It holds payments and a coin’s money, checks signed results and pays them out.

Escrow

Where a venue holds your payment before your trade is priced.

Engine

Braid’s server that orders and prices each braided coin’s trades.

Leader and standby

The engine that is running, and a second copy ready to take over if it fails.

Collector

A Braid service that watches a chain and reports payments to the engine. Each chain has two, on independent data providers, and both must agree while both are healthy.

Signer

A key that approves the engine’s results. A result needs three of Braid’s four signing keys.

Certificate

The signed approval of a batch of results. A venue checks it before paying.

Dispatcher

A Braid service that sends signed results to each chain and retries until they land. A retry can never pay twice.

Heartbeat

A signed message Braid sends to every venue about every 2 minutes when idle. A venue refuses new payments after 240 seconds without one.

Hold

A state in which a venue refuses new payments while Braid fixes a problem. Payouts already owed can still be paid.

Checkpoint

The last shared price and books, carried in each heartbeat, that a wind-down uses.

Wind-down

The last resort after 14 days without Braid: the shared market ends and each chain gets its own pool. See wind-down.

Latch

The moment a venue stops trading and starts its wind-down.

Multisig

A wallet that needs several keys to act. Braid’s upgrade multisig needs two of three hardware wallets.

Guardian

The role that pauses venues, approves restarts and approves key changes. At launch it is the upgrade multisig.

Watchtower

Separate keys that can only pause.

Read API

Braid’s public data service for coins, trades, orders and health. It reads; it cannot trade.

Trading wallet

A wallet kept encrypted in your browser and protected by a passkey, so trades need no pop-up. Braid never holds its key.

Yes. A Standard launch can use one chain, several or every chain Braid supports, with a separate market on each, like a normal launchpad. A braided launch gives your coin one shared market across two or more chains you pick. See launch modes.

For a braided coin, Braid’s upgrade multisig can replace the code of the contracts that hold the money. Someone who stole two of its three hardware wallets could take everything in them. Someone who steals Braid’s signing keys can take up to each coin’s available payout allowance until a pause takes effect. The allowance refills over an hour; it is not a fixed loss cap, and a coin with under $10,000 on a chain can lose all of its money there at once. Braid cannot mint, freeze or take tokens from your wallet. See admin powers.

New payments stop being accepted after 240 seconds without Braid. A payment Braid did not settle can be reclaimed by anyone from 10 minutes after it landed. After 14 days, anyone can wind a braided coin down into a separate pool on each chain. Standard coins keep trading on chain without Braid. See wind-down.

Your buy could not fully fit within your slippage limit, so Braid filled the largest part that did and refunded the rest in the same settlement. See limits.

Your chain’s contract did not hold enough of the coin’s money, or the hourly payout limit was reached. The rest stays owed at the price your sale got.

For braided coins on BNB Chain and Robinhood Chain, any unpaid amount stays owed until this coin has enough money on the selling chain. Buys on other chains do not fund that payout unless this coin’s money is transferred there. There is no guaranteed payout time, and the unpaid amount may never be paid if enough money never becomes available. It is never priced again. See owed proceeds.

From 10 minutes after it landed, a reclaim returns it to you. Braid’s site and refund service trigger it for you, and anyone else can too. It needs the chain to be working. See refunds.

The one where you already hold that chain’s coin: SOL, BNB or ETH, or USDC on Arc. It pays for both the trade and its network fee. For a braided coin, every chain it trades on has the same price. Chains differ in network costs, confirmation speed and the risk of a reversal. See choosing a chain.

No. A coin shows as bonded only once the buy that filled its curve is delivered on its chain, and nothing reverses that. Only a chain reversal deep enough to undo a delivered transaction could, which is a general chain risk.

No. The fee and creator tax are fixed at launch, and the tax can never be raised. On Solana, a Standard coin uses the full 1.25% fee with no creator tax. For a braided coin, permitted changes to creator-payout recipients cannot alter the permanent payout-versus-burn election or remove the dedicated BRAID buyback-and-burn allocation. A Standard coin’s recipients are fixed at launch.

There is no cashback, now or after launch. The applicable allocation from Braid’s net margin funds BRAID buyback-and-burn. Referral rewards are post-launch, with terms still to be set. See fees.

No. There is no outside audit, bug bounty or insurance fund. See security.

Yes. A coin can lose all its value, and anyone can launch a coin. A chain, bridge or stablecoin failure can also cost money, and Braid does not cover losses it did not cause. See risks.

Each chain’s token contract starts with one billion tokens, but most sit unsold in Braid’s contracts. Across all of a braided coin’s chains, no more than one billion circulate while the shared market runs. See one supply.

The first coin on Braid. It uses the same rules as any coin, with an opening surcharge and a burned developer buy. See the BRAID coin.