Ripcord docs

Ripcord is one contract on Robinhood Chain (chain id 4663) that holds pons memes and sells them on their pons curve when a price you set is reached. The site reads the contract from your wallet; a small worker runs the keeper.

An exit

An exit is an amount of one meme plus a take-profit, a stop-loss, or both, each in ETH for the whole amount. Placing one moves the tokens into the contract. You can cancel at any time and they come back in the same transaction. An exit may also carry an expiry, after which anyone can close it and the tokens go back to you.

How worth is read

Every pons curve keeps an ETH reserve and a token reserve. Ripcord values your tokens the way the curve would price a sale of all of them at once: ethReserve × amount ÷ (tokenReserve + amount), before the curve's own fee. No outside price feed is used.

Take-profit

When the worth reaches the take-profit, the exit sells with the take-profit as the minimum written into the curve sale. If the curve's fee pushes the result under it, the sale is refused and the exit keeps waiting.

Stop-loss

When the worth falls to the stop-loss, the exit sells with a minimum of the worth at that moment less your slippage limit (5% to 30%, chosen when you place it). A stop never sells for less than that; if the curve can't meet it, the exit waits.

open ──worth ≥ take-profit──▶ sold at ≥ take-profit
  │
  ├──worth ≤ stop-loss─────▶ sold at ≥ worth × (1 − slippage)
  │
  └──cancel / expiry────────▶ tokens back to the owner

The keeper

Every minute a worker asks the contract's readyIds which exits are ready, simulates each fill and sends the ones that pass. fill is open to anyone: if the keeper is ever down, you or anyone else can fill a ready exit and earn the run fee.

Fees

• 0.5% of the ETH a sale brings, to the treasury.
• 0.00002 ETH to whoever sends the fill.
• Placing and cancelling cost only gas. The contract caps the fee at 1% and the run fee at 0.0002 ETH.

Owner powers

The owner can change the fee and run fee within those caps and the treasury address. There is no function that lets the owner move or sell anyone's escrowed tokens.

Contract

place(curve, amount, takeProfit, stopLoss, slipBps, expiry)
fill(id)      anyone, when ready(id) is 1 (take-profit) or 2 (stop-loss)
cancel(id)    the owner
worth(id) · ready(id) · readyIds(from, count) · getExit(id)

Risks

• The contract is unaudited. Its tests include real sales on a fork of Robinhood Chain.
• Ripcord sells only on the pons curve. After a meme graduates to Uniswap its curve stops trading: cancel and take the tokens back.
• A minute between checks means a fast move can pass a take-profit and come back before the keeper sees it.
• Memes with a transfer tax are escrowed at the amount that arrived.