how the stone works.

ishi is a token launchpad on elysium. anyone can drop a stone (a token) with a name, a ticker and an image. it goes live at once on a bonding curve priced in HYPE, the same curve for every stone.

when the curve fills, the stone graduates: its liquidity moves to a uniswap pool and is locked forever. from then on, every trade pays a 1% fee. 80% of that fee goes to the wallets that bought on the curve, in proportion to the curve tokens they still hold. 20% buys back $ishi.

• drop a stone. same curve for everyone. HYPE only.
• buy early, on the curve.
• graduation: liquidity to a pool, locked forever.
• the ring remembers: early buyers share the fees of every trade after.
• sell, and your share leaves with it.

ishi promises no amount and no return. fees only exist if people trade. a stone without volume pays nothing.

creating a stone takes three fields and one transaction.

name

up to 24 characters

ticker

up to 8 letters or digits

image

square or portrait. shown as the stone’s face

cost

0.1 HYPE + gas

supply

1,000M tokens, fixed

on-chain, the factory contract:

• deploys a standard erc-20 with a fixed supply of 1,000M. no mint function, no owner.
• holds 800M tokens on the curve and 200M in reserve for the pool.
• opens the curve immediately. the creator has no allocation and buys on the same curve as everyone.

every stone trades on the same constant-product bonding curve, with a virtual HYPE reserve Vh and a virtual token reserve Vt. buying adds HYPE and takes tokens out; the price rises as tokens are sold.

(Vh + h) · (Vt − s) = k
price(s) = k / (Vt − s)²
tokens out = (Vt − s) − k / (Vh + h + Δh)

h = HYPE raised so far, s = tokens sold so far, Δh = your HYPE after the 1% curve fee.

virtual token reserve Vt

1,073M

virtual HYPE reserve Vh

34.125 HYPE

k

3.6616e+10

start price

3.180 × 10⁻⁸ HYPE

price at graduation

4.913 × 10⁻⁷ HYPE

curve fee

1%, to the protocol

your entry price is the average you paid across the curve, fee included. the curve is identical for every stone and every buyer: no presale, no allowlist, no special price for the creator.

a stone graduates when its curve holds 100 HYPE, which is the moment all 800M curve tokens are sold. the last buy is capped to fit; the rest is refunded.

• the 100 HYPE and the 200M reserved tokens are paired in a uniswap v3 · HYPE pair pool. opening price: 5.000 × 10⁻⁷ HYPE, in line with the end of the curve.
• the pool position is held by a locker contract with no withdraw function.
• liquidity locked forever. nobody, including ishi, can ever remove it.

why lock and not burn?

burning the position makes liquidity permanent but also destroys its fees. a locked position keeps earning the pool’s trading fees forever, and those fees are what the ring pays to early buyers. same permanence, but the fees keep flowing.

after graduation, every trade on the stone pays a 1% fee in HYPE. it is split once, at the source:

your eligible = min(tokens you bought on the curve, tokens you still hold)
your share    = your eligible / all eligible still held
you receive   = volume × 1% × 80% × your share

a worked example

you are the first buyer and put 5 HYPE in. after the 1% curve fee you get 135.93M tokens, 16.99% of the curve. the stone graduates and you still hold all of them.

10,000 HYPE volume × 1% × 80% × 16.99%
= 13.5927 HYPE

the figure only exists if that volume exists. at zero volume, the same formula gives zero. the simulator runs this exact formula.

your share is tied to the wallet that bought on the curve, and to the curve tokens it still holds.

• sell half: your eligible balance halves, so does your share. the other holders’ shares grow.
• sell everything: your share is zero. the ring no longer pays you.
• transfer to another wallet: same as a sale for the ring. the receiver gets the tokens, not the share.
• buy again after graduation: you hold more tokens but your eligible balance never rises above what you bought on the curve.
• fees already received are yours. nothing is clawed back.

$ishi is the launchpad’s own token. 20% of every ring fee, on every graduated stone, is used to buy $ishi on the market.

launch

with elysium mainnet, on Boxa

contract address

0xAa2EbFA4d63C091e0fdB3bB2Ccb4782A66dE66b4

official sources

this site and x.com/ishi_elysium

Launching soon on Boxa. it will be published here and on x.com/ishi_elysium ↗ only.

elysium is a layer 2 built by kinetiq for the hyperliquid ecosystem: an arbitrum orbit chain that settles to hyperevm and uses HYPE as its native gas. ishi lives there. today, on testnet.

add the testnet to your wallet

connecting on this site does it for you. by hand:

network name

Elysium Testnet

chain id

99801

currency

HYPE (18 decimals)

rpc

https://testnet-rpc.elysium.kinetiq.xyz

explorer

https://elysium.kinetiq.xyz/testnet-explorer

get testnet HYPE

use the official faucet. testnet HYPE has no value.

• faucet ↗
• bridge ↗
• elysium docs: connecting ↗
• elysium on x ↗

• smart contracts. code can have bugs. audits reduce risk, they do not remove it.
• no guaranteed volume. the ring pays a share of fees. no trades, no fees. most tokens see little volume.
• price. stones can lose all their value. buying early is no protection against that.
• testnet ≠ mainnet. parameters, contracts and behaviour may change before mainnet. testnet tokens have no value.
• impersonation. the only official sources are this site and x.com/ishi_elysium.
• no promises. nothing on this site is financial advice or a promise of returns. the simulator is a simulation.