coins.fun is a permissionless token launchpad built on Stable, a layer-1 blockchain on which USDT functions as the native gas asset. The platform enables any user to deploy a fixed-supply ERC-20 token in a single transaction, without coding knowledge, and to open a tradeable market for that token at the moment of deployment.

Each token created through coins.fun has a fixed supply of one billion units and is paired against USDT in a concentrated liquidity position. There is no bonding curve and no graduation threshold: a token is tradeable in a real liquidity pool in the same block in which it is created. Because tokens are quoted directly against a US dollar stablecoin, market capitalisation and price figures displayed on the platform are denominated in US dollars rather than in a volatile base asset.

Liquidity on coins.fun is single-sided. The creator contributes the token's own supply to the pool rather than pairing it against quote-asset capital, meaning no external funding is required from the creator to establish a market. Deploying a token costs 2 USDT. Trades against a token's liquidity pool incur a 1% fee, of which 70% accrues to the token's creator and 30% accrues to the protocol. The fee split applicable to a token is recorded at the moment of its launch and cannot be changed afterward.

The liquidity position created at deployment is locked by the smart contract and cannot be withdrawn by the token creator or by the coins.fun team. The platform is non-custodial: all transactions are signed and submitted by the user's own wallet, and coins.fun does not hold, control, or have access to user funds at any point.