Buyback and vesting

A creator can choose to have part of their own tax spent buying their token back off the market. It comes out of the creator's share, not out of traders', and it is optional.

How it works

1. With buyback on, 50% of every creator-tax payment is earmarked for buyback as it is charged.
2. During a sweep by the fee operator, the earmarked ETH buys the token: on the curve before graduation, in the Uniswap V4 pool after.
3. Bought tokens are locked into HanokVestingVault for that token.

Price-impact guard

A buyback is skipped rather than forced through when it would move the price more than the launch's limit (3% by default) or, on the curve, when it would eat into the pool's reserved allocation. Skipped ETH is paid to the creator as ordinary earnings. A buyback going wrong can never hold up anyone else's fees.

Vesting

Bought-back tokens are not burned and never arrive as a lump sum. They vest linearly over five years, split 70% to the creator and 30% to the protocol.

The clock is weighted: when a new buyback lands, it is blended into the unvested balance by weighting the remaining time of what is already vesting against a full five years for the new amount. A large late buyback cannot unlock early by riding on the progress of earlier ones.

release(token) is permissionless because it can only ever pay the two fixed beneficiaries. Either side can call it and both are paid.

Turning it on or off

Only the creator can turn buyback on, since it is funded from their own tax. The protocol owner can turn it off but never on. Toggling affects fees charged from that moment; fees already earmarked keep their split.