Mooner 101 for non-crypto audiences

Mooner is a place where anyone can create a new digital coin in about a minute, and anyone else can buy and sell it. It runs on Hyperliquid, a public blockchain: a shared ledger that records every coin and every trade, and that anyone can read.

Coins like these are often called memecoins. Most of them are jokes, communities or bets on an idea. Most of them also go to zero. What Mooner changes is not the odds of any single coin, but the rules everyone plays by.

#The problem Mooner works on

Two things drain the value out of coins on most launchpads.

Concentration. The first buyers can scoop up a large share of a new coin in seconds, often with many wallets controlled by the same person. When they sell, the price collapses and everyone who came later is left holding the loss.

Repetition. Every coin that catches on is copied within minutes: the same ticker, the same name, the same picture. Buyers can't tell the original from the copies, and the attention and liquidity a coin earns are split across dozens of clones that exist only to siphon them off.

Mooner answers the second with one coin per ticker, forever. Each name launches once, so its liquidity, its holders and its community stay in one place. That makes Mooner the one venue where a ticker is always the original, and the natural home for coins meant to grow.

#What Mooner does differently

• A cap on how much one wallet can hold. The creator picks 1%, 2% or 3% of the supply, and it applies to every wallet, the creator's own included. Buying past it is allowed but costs an extra 5% on the excess.
• No copies. A ticker, a name and an image can be launched only once, ever.
• No launch-block snipers. Nobody but the creator can buy in the block a coin is born in, and buys can't be routed through another contract to fill a crowd of wallets at once.
• Money that cannot be pulled. When a coin succeeds, its trading pool is locked forever. Nobody can withdraw it.
• Who is who, in the open. Mooner maps wallets that appear linked to each other, so you can see when one person might be behind many buyers.

The rules are written into the contracts that run the coins, with two exceptions done in the open: Mooner's launch service checks images for copies before it co-signs a launch, and linked wallets are computed from public chain data. Not even the Mooner team can switch them off for a coin that already exists.

#How a coin's price works

Each new coin starts on a bonding curve: a formula that sets the price from how many tokens have been sold. Every buy moves the price up a little, every sell moves it down. Before graduation there is no order book and no market maker: you trade directly with the curve, so there is always a price and always someone on the other side, however small the coin.

When a coin sells all 793.1 million tokens on its curve (about 127 HYPE), it graduates: it moves to Project X, the largest exchange on HyperEVM, where it keeps trading. See Life of a coin.

#Words you will see