Whitepaper V4.1
15. Genesis Liquidity Architecture
The auction and liquidity pool are distinct accounting objects. A token sold to a participant is not the same token as one reserved for protocol-owned liquidity.
Uniswap’s LBPStrategy can split tokens between auction and LP reserve and migrate a defined amount of the raised currency into a new v4 pool. Advanced strategies can include one-sided positions, but range design must not be confused with vesting: a price range is not a time lock.
The Genesis liquidity policy should have three layers:
- Core market depth. A canonical IONON/ETH v4 position supporting ordinary trading near the discovered price.
- Managed expansion. Additional protocol-owned positions that can be adjusted under documented treasury policy.
- Future market diversification. Separate IONON/USDC and IONON/WBTC pools only after the primary market has sufficient depth and cross-market prices can be kept coherent by arbitrage.
A portion of protocol-owned liquidity may be time-locked for credibility, but not all liquidity should be irreversibly locked if doing so makes treasury risk management impossible. Any lock must be published with exact contract, owner, unlock time and recovery semantics.