DipbidDocs
Overview
Dipbid adds limit orders to pons memes on Robinhood Chain. A buy order holds ETH and fills once the meme is cheap enough; a sell order holds the meme and fills once it pays enough. Fills happen on the meme's own pons bonding curve.
Buy the dip
placeBuy(curve, minOut, expiry) is payable. Dipbid keeps the ETH and records minOut, the least number of tokens the order must get. The app works it out from the market cap you choose: the ETH after fees, divided by the price at that market cap, less 3% for the pons fee and a typical creator tax.
Take profit
placeSell(curve, amount, minEthOut, expiry) moves amount of the meme into Dipbid and records the least ETH the sale must bring. The meme needs a one-time approval for the Dipbid contract.
Filling
fill(id) is open to anyone. For a buy it calls curve.buy(ethIn, minOut, owner), so the tokens go straight to the order's owner. For a sell it calls curve.sell(amount, minEthOut, Dipbid) and sends the ETH to the owner. If the curve can't meet the minimum, the curve reverts and the order stays open. The caller earns 0.00002 ETH from the order.
Dipbid's keeper simulates fill for every open order every five minutes and sends the ones that would succeed. Anyone else can do the same; openIds(from, count) lists the open orders.
On a fork of mainnet with a live pons curve, a buy order set 2% under the market filled at once, one set to need a 33% lower price was refused by the curve, and a take-profit order sold the bag for ETH.
Cancel and expiry
cancel(id) returns the ETH or the tokens to the owner at any time. Orders can expire after 1, 7 or 30 days, or never. After the expiry, any fill call closes the order and refunds it instead of trading.
Fees
| Dipbid | 0.5% of the ETH side, taken when an order fills (owner can set 0 to 1%) |
| Filler | 0.00002 ETH per fill (owner can set up to 0.0002) |
| pons | the curve's 1% fee and the creator's tax, as on any curve trade |
Cancelling is free apart from gas.
Graduation
When a meme leaves its curve for Uniswap, the curve stops trading and open orders on it can't fill. Cancel them for a full refund.
Owner limits
The owner can set the fee, the filler's reward and the treasury, within the caps above. There is no function that moves an order's funds anywhere except to the owner or through the curve at the order's price.
Risks
- Memes can go to zero; a buy order set too high can fill into a falling meme.
- Orders are checked every five minutes, so a wick that comes and goes in between can be missed.
- The contract is unaudited.
Contracts
| Dipbid | opening soon |
| pons factory | 0x7eD598BcEf8bd9Edd8C97A195C6d13f40801EC7e |
Token
The Dipbid token launches on pons. Its address will be listed here and on the home page.