AMM venues

When you launch a token, one of the choices is the AMM venue: Uniswap V3, SushiSwap V3 or Uniswap V4. This page explains what that means, what it changes, and what it doesn't.

What's an AMM?

AMM stands for automated market maker. It's the machine that lets your token be traded without anyone needing to be on the other side of the trade.

Normally, buying something requires a seller. Stock exchanges work this way: your buy order gets matched against somebody's sell order. If nobody's selling, nothing happens.

An AMM removes that requirement. Instead of matching people, it holds a pool — a pot with two things in it, your token and ETH — and it will always trade with you against that pot:

• You buy: you add ETH to the pot, it hands you tokens.
• You sell: you add tokens to the pot, it hands you ETH.

The price isn't set by anyone. It's simply the ratio between the two sides. Every buy takes tokens out and puts ETH in, making tokens scarcer in the pot, so the next buyer pays slightly more. Every sell does the reverse. The pool is always open, always willing to trade, and needs no counterparty. That's the whole idea.

The AMM is the software that runs this. Uniswap is the best-known one; SushiSwap is another.

So what am I choosing?

You're choosing which AMM's software will host your token's pool.

The pool is created for you at launch. The venue you pick decides which protocol that pool belongs to — which contracts hold the liquidity, and which exchange's interface will show your token if someone goes looking for it there.

That's genuinely the whole difference. It is not a difference in how your token behaves.

The three options

Uniswap V3 is the original, and Runitup's first venue. It's the most widely recognised AMM in crypto, and the design almost every other AMM copied.

SushiSwap V3 is a fork of Uniswap V3 — meaning its code was copied from Uniswap V3's own source, unchanged. Not "inspired by", not "similar to": the pool contracts do the same arithmetic, because they are the same arithmetic. What differs is the branding, and that it's a separate deployment with its own separate liquidity and its own community.

Uniswap V4 is a different design rather than another fork. Instead of one contract per pool, every V4 pool lives inside a single contract — the pool manager. For you as a creator that changes almost nothing: same 1.00% fee, same locked liquidity, same single-sided launch. What it adds is the ability to pair your token against a tokenized stock, which the V3 venues do not offer here.

That restriction is enforced by the contracts, not just by the launch form. V4 supports hooks — code that runs on every trade — and hooks are the reason an equity pair is worth having at all: only a hook can gate trading to market hours, adjust for a stock split, or refuse a price that has gone stale. A stock pool on V3 would have none of that, so both V3 venues refuse the equities outright. Calling the contracts directly does not get around it.

Uniswap V3 and SushiSwap V3 were already deployed on Robinhood Chain and Runitup uses them as it finds them. For V4, the pool manager was already there and is Uniswap's own; the position manager is Uniswap's published code deployed by Runitup, because Uniswap's own had not been deployed to this network and building on somebody else's periphery would route every locked LP position through code nobody here has read.

What is identical between them

Practically everything a trader or creator would care about:

• The swap fee is 1.00% on all three. This is the fee the pool charges on every trade, and it's the same tier whichever venue you choose.
• The mandatory fee split is identical — 75% creator / 25% platform, on every venue. See Fees & tax.
• Liquidity is locked identically. Same locking contract, no withdraw function, any venue.
• Trading on Runitup is identical. The Buy/Sell panel on your token's page automatically routes to the right venue. As a trader you never pick anything — you just trade, and Runitup sends the order to whichever venue that token launched on.

What actually differs

1. What it costs you to launch. This is the big one, and it is not close. A V3 launch has to deploy a brand-new pool contract for your token. The network charges a flat fee for every byte of contract code it stores, and a Uniswap V3 pool is about 22 KB — roughly 4.4 million gas spent before the pool has done anything at all. Uniswap V4 has no per-pool contracts: every pool lives inside one shared contract that is already on the chain, so opening yours costs a fraction. In practice a V3 launch runs about 6.2 million gas and a V4 launch about 1.35 million — five times less, and the gap is structural, so it will not narrow.

   It is large enough that wallets notice. MetaMask shows a red warning when the network fee dwarfs the value of the transaction, which is exactly what a V3 launch looks like.

2. What you can pair against. Only Uniswap V4 can pair your token with a tokenized stock. The V3 venues offer ETH and USDG.

3. Which protocol's liquidity your token joins. Each venue is a separate universe of pools. A token on Uniswap V3 is discoverable by people and tools looking at Uniswap; a token on SushiSwap V3 is discoverable by people and tools looking at SushiSwap.

4. Which brand your token is associated with. Some communities have a strong preference. If yours does, pick that one.

If you have no preference, Uniswap V4 is the default, and it is the one to take — it is the same Uniswap, the same locked liquidity and the same fee, for about a fifth of the launch cost. Your pool sits in Uniswap's own shared PoolManager, so it is a real Uniswap pool: DexScreener lists it, aggregators route through it, and trading bots can buy it. It is not a private or in-house market.

Pick a V3 venue when you specifically want your token to live in the V3 world — an older tool or community that only reads V3 pools — and accept the higher launch fee for it.

When the choice is locked in

Permanently, at launch. The venue is read once when your token is created and stored with it forever. There is no migration, no switch, no admin able to move a token from one venue to the other afterwards.

This is deliberate. Your token's pool is a real, locked position on that venue; moving it would mean unlocking liquidity, which is precisely the thing these contracts are built to make impossible.

Where you'll see it

• On the launch form, as a picker with both logos, for both launch types.
• On token cards and token pages, as a small badge showing the venue and version (for example, a Uniswap logo with "V3").

Quick answers

Does the venue change what I earn? No. Identical fee, identical split, every venue.

Does it change what traders pay? No. 1.00% swap fee whichever you pick.

Does it change what it costs me to launch? Yes, a lot — see above. V3 is roughly five times the network fee of V4, because V3 has to deploy a pool contract and V4 does not.

Can I change it later? No — permanent at launch.

Does it change how safe my token is? No. Same locked liquidity, same token contract, same guarantees. See Security.

Is a V4 token tradeable outside Runitup? Yes. It is an ordinary Uniswap V4 pool in Uniswap's own contract — DexScreener, aggregators and Telegram trading bots all reach it.

Which should I pick? Uniswap V4 unless you have a specific reason to want a V3 pool.

Pairing: what your token trades against

Every pool has two sides. Your token is one. The other is the quote asset — what buyers pay with, and what your token's price is quoted in.

By default that's ETH, and for most launches it should stay that way: ETH is what most people hold, so an ETH pair is the easiest thing to buy.

You can pick something else:

They are every tokenized equity on the chain that carries a Chainlink price feed. The ones without a feed are not offered, because a launch quoted in them could not be priced. The full list, and which of them can be bought with ETH, is on Tokenized stocks.

A token paired against a tokenized stock is marked Anchored to RWA on its page, and carries an RWA badge on its card, so nobody has to work out what it trades against from the ticker alone.

Getting the stock in the first place

To trade a coin paired with NVDA, somebody needs NVDA. 11 of the 30 have a real market on this chain and can be bought with ETH directly on the Swap page — MSTR, SPY, NVDA, SPCX, COIN, CRCL, META, QQQ, GME, TSLA and AAPL. The other 19 can still be paired against, but have no market here yet, which makes them a harder pair for buyers to reach. See Tokenized stocks.

The trade-off worth understanding

Pairing against a tokenized stock is genuinely interesting — your token's value is expressed relative to a real-world asset rather than to a volatile crypto one. But it narrows who can buy it: someone has to hold that stock token to trade the pair.

An ETH or USDG pair is easier to buy into. A stock pair is more distinctive. Neither is wrong, but pick knowing which you are choosing.