How Iterun works

Iterun is the compound layer on Pons, on Robinhood Chain. A Pons launch that names Iterun as the tax recipient keeps buying its own token for stakers. Those tokens are bought on the market. Nothing is minted.

Why it exists: sitting in ETH or the pair leaves you with the same quote after every trade. Stake the launch token instead. Harvest spends creator tax on a market buy, then streams those tokens into the vault. Stay staked and later harvests keep landing on the same position.

What a trade pays

Two slices leave a Pons trade. Iterun only ever claims the creator tax. The protocol tax stays with Pons.

Tax does not jump into the vault on each trade. Pons holds it in escrow until someone harvests. That is deliberate: a harvest is a sized market buy with slippage protection, not a drip on every swap.

Anyone can poke a harvest

Harvest is permissionless. There is no admin button and no on-chain clock. Anyone can submit harvest on that token's Harvester while the token is still on the bonding curve. The app poke on a token page is the same call.

Why a signature then? The caller is not gated. The order is. Iterun's policy signer attests quoteAmount, minTokensOut, deadline, and nonce (EIP-712). That stops a poke from buying at zero or draining escrow in one unbounded swipe. The hosted app asks /api/harvest-order for that signature, then any wallet can send the transaction.

What one harvest does

1. Read escrowCreator tax sits in the official Pons fee escrow, credited to the Harvester. On the bonding curve, a separate sweepFees (anyone) can fill escrow first. After graduation that call reverts AlreadyGraduated — tax accrues on the Pons meme hook. Poke first tries permissionless distributeQuoted, then Iterun hookSweep when that contract is feeSweepOperator, then harvests escrow. Harvest itself does not silently sweep.
2. Claim a sized amountThe signed order claims exactly quoteAmount of pair quote (ETH or the launch pair token).
3. Split, then buyOf the claimed quote: 85% to this token's vault, 5% reserved for $ITERUN, 10% to INFRA. Vault quote is a curve buy while the bonding curve is live, or raw quote after graduation. After a curve buy the tokens stream to stakers; after graduation a signed compound buys on the pool.

Vault quote becomes a market buy

After graduation, harvest sends pair quote into the vault instead of buying on the curve. That quote sits there until anyone pokes a signed compound. The call spends the quote on a Uniswap v4 market buy of the vault token — $ITERUN on this desk — and streams the bought tokens to whoever is staked.

Those bought tokens sit in the vault as rewards until a staker claims or restakes them — they are not circulating in wallets and they are not staked principal. The $ITERUN desk shows lifetime harvest + compound buys as a share of total supply ("Bought from chart").

Compound is permissionless, same as harvest. The order is signed so a poke cannot buy at zero. If the vault has no pending quote, the poke has nothing to spend. Harvest first, then compound.

Restaking your own earned tokens is a different call (compoundRewards) inside the staking module. See Vault.

Where harvested tax goes

These bars are shares of creator tax the Harvester claimed, not of the whole trade, and not of Pons protocol tax. They match IterunFeeSplits.PONS_INFRA_SHARE_BPS (1000) and CHILD_PARENT_BUYBACK_SHARE_BPS (500).

Child token, with INFRA set (mainnet): 85% vault, 5% $ITERUN, 10% INFRA. The 5% is quote, not an instant $ITERUN market buy. Until parentToken is pinned, it sits as pendingParentBuyback. After pin, a flush moves the quote into the $ITERUN vault; a later signed compound is what actually buys $ITERUN.

When the harvested token is $ITERUN itself, the 5% self-peel is skipped: 90% vault / 10% INFRA.

Factory owner can call setInfraRecipient(address(0)), which turns off the 10% INFRA peel so a child harvest becomes 95% vault / 5% $ITERUN. That is a live config change, not a hidden extra tax. Owner can also handoffCreatorFeeRecipient and point later creator tax away from Iterun. Neither call moves staked principal.

How a token is hooked up

You never paste a fee-recipient wallet. The Launch page predicts the Harvester clone before the token exists and writes that address into Pons as creatorFeeRecipient in the same transaction that creates the token.

1. Reserve the HarvesterThe factory deploys the CREATE2 clone from your wallet and salt before launch. The clone stays uninitialized, and that salt cannot be reused.
2. Launch on PonsName, ticker, pair, compound tax. Creator tax already points at the predicted Harvester. Iterun launches turn Pons holder-buyback sharing off (buybackEnabled: false) so the compound path is Iterun, not a second Pons splitter.
3. Activate clone and vaultAfter Pons lands, createAndActivate validates the launch, initializes the reserved Harvester, and creates its vault. Only the launch creator can finalize.

Why it keeps compounding

Once that wiring lands, every later trade on the curve credits creator tax to the same Harvester. You do not re-point fees. You do not keep a bot of your own. Anyone can harvest into the vault for as long as the token is on the curve and the Harvester is still the Pons recipient.

That is the default Iterun loop. It is not a literal forever-lock: the factory owner can hand the Pons fee recipient to another address. Users cannot. The vault has no admin withdraw. Staked principal stays yours to unstake.

Token already on Pons

Add a pool opens the same vault on an existing Pons v2 token. If the creator is still the fee recipient, the attach flow moves that recipient to the Iterun Harvester and activates it. After that, harvesting and staking work like a create launch.

Stake to receive the buys

The vault holds the launch token. Sitting in ETH or the pair does nothing. Deposit the token (stake) so harvest buybacks can find you.

• Principal is what you deposited. Unstake returns that amount. You can unstake from the next block. Same-block stake and exit is blocked, so a flash-loan cannot farm a harvest in one block.
• Rewards are extra launch tokens the vault received (harvest buys, or vault compound buys). They do not vest on a cliff. Each chunk streams for one day to current stakers, in proportion to how much they have staked. Share is stake times time in that stream, not a snapshot at poke.
• Claim with getReward to your wallet, or compoundRewards to restake earned tokens (that restake also resets the same-block unstake lock).
• If nobody is staked when a harvest lands, bought tokens sit in the vault and start streaming when the first stake arrives.

Pair quote can also sit on the vault (pendingQuote) if the vault is a Pons holder and dividends pay the pair asset. That quote is not launch tokens yet. A signed compound spends it on a buy (bonding curve, or the v4 pool after graduation).

How tokens show up in a wallet

Iterun does not unlock a team allocation and does not run a vest. Supply comes from Pons. Iterun only buys tokens that already exist and routes them.

After the curve

Pons graduates a launch off the bonding curve onto a Uniswap v4 pool. Iterun does not create that pool and does not lock the LP. It only reads the Pons phase.

• On the curve (phase 0): harvest claims escrow and buys on the curve into the vault. This is the main compound loop.
• After graduation: Pons creator tax keeps accruing on the meme hook. Poke moves it into escrow via distributeQuoted when the live hook exposes it, or via Iterun hookSweep once Pons points feeSweepOperator at that contract (sweepPoolFees with minOut 1). harvest still claims and splits. The child share is quote sent to the vault. A signed compound then buys on the Uniswap v4 pool. The loop does not end at graduation.
• Terminal escrow: leftover creator tax can still be flushed to whoever Pons currently lists as fee recipient, once the Harvester has been handed off. Normal operation does not hand off at graduation.

So a token launched with the Iterun Harvester compounds rewards for stakers on the curve and after the pool exists. Launches with Pons buybackEnabled are rejected — Iterun is the buyback path.

Who can do what

Addresses

Robinhood mainnet (4663). Iterun contracts below also appear on Verify.