bursar
Collects fees
Refuels its own gas
Builds liquidity ladders
Never holds the fees
Launch a token. It hires a bursar. Every token launched through Bursar gets its own on-chain officer: a wallet that collects the token’s trading fees, keeps itself fuelled with gas, and holds its liquidity positions across every venue. From block one, unattended.
© 2026 Bursar.
Launch a token. It hires a bursar. Every token launched through Bursar gets its own on-chain officer: a wallet that collects the token’s trading fees, keeps itself fuelled with gas, and holds its liquidity positions across every venue. From block one, unattended.
© 2026 Bursar.
Fees claimed · measured
(8 pools)
Fees claimed · measured
(8 pools)
(6)
Venues.
Venues.
©2026
©2026
©2026
Where ladders are built, and the parameters that never change. Each builder is deployed once with immutable parameters. Positions on every venue are read regardless of builder status.
04 · Custody
04 · Custody
What the contracts do, stated as properties you can read on-chain, not as a promise.
A treasury officer from block one. Nothing it can take.
A treasury officer from block one. Nothing it can take.
A treasury officer from block one. Nothing it can take.
Every claim, sweep and collect lands in the vault. The bursar’s own balance is gas and nothing else. operator ∉ withdraw
01
Launches onboarded · measured
Measured: summed by our indexer from swaps on-chain.
01
Launches onboarded · measured
Measured: summed by our indexer from swaps on-chain.
01
Launches onboarded · measured
Measured: summed by our indexer from swaps on-chain.
What the bursar does
What the bursar does
Duties.
Duties.
(4)
(4)
(4)
(001)
Collects fees into a creator-owned vault
The token’s trading fees are claimed from Pons into a vault whose only owner is the creator. The bursar cannot withdraw from it.
Calls
claim()
sweep()
vault owner = creator
operator ∉ withdraw
Collects fees into a creator-owned vault
(002)
Keeps itself fuelled from a capped allowance
Gas comes from the vault, up to a fixed amount per day. Over the cap, the refuel reverts. The cap is set at deployment and cannot be raised.
Calls
refuel(amount)
amount ≤ remaining
cap fixed at deployment
window · 24h
Keeps itself fuelled from a capped allowance
(003)
Places and maintains liquidity ladders
Aligned positions across a price band, built in the venues with a builder deployed, rebuilt when the strategy says so, collected when fees accrue.
Calls
build(plan)
collect(ids)
rebuilt per strategy
venues with a builder
4
Places and maintains liquidity ladders
(004)
Never holds the creator’s fees
Every claim, sweep and collect lands in the vault. The bursar’s own balance is gas and nothing else.
Calls
every claim → vault
every sweep → vault
every collect → vault
balance = gas only
Never holds the creator’s fees
(001)
Collects fees into a creator-owned vault
The token’s trading fees are claimed from Pons into a vault whose only owner is the creator. The bursar cannot withdraw from it.
Calls
claim()
sweep()
vault owner = creator
operator ∉ withdraw
Collects fees into a creator-owned vault
(002)
Keeps itself fuelled from a capped allowance
Gas comes from the vault, up to a fixed amount per day. Over the cap, the refuel reverts. The cap is set at deployment and cannot be raised.
Calls
refuel(amount)
amount ≤ remaining
cap fixed at deployment
window · 24h
Keeps itself fuelled from a capped allowance
(003)
Places and maintains liquidity ladders
Aligned positions across a price band, built in the venues with a builder deployed, rebuilt when the strategy says so, collected when fees accrue.
Calls
build(plan)
collect(ids)
rebuilt per strategy
venues with a builder
4
Places and maintains liquidity ladders
(004)
Never holds the creator’s fees
Every claim, sweep and collect lands in the vault. The bursar’s own balance is gas and nothing else.
Calls
every claim → vault
every sweep → vault
every collect → vault
balance = gas only
Never holds the creator’s fees
(001)
Collects fees into a creator-owned vault
The token’s trading fees are claimed from Pons into a vault whose only owner is the creator. The bursar cannot withdraw from it.
Calls
claim()
sweep()
vault owner = creator
operator ∉ withdraw
Collects fees into a creator-owned vault
(002)
Keeps itself fuelled from a capped allowance
Gas comes from the vault, up to a fixed amount per day. Over the cap, the refuel reverts. The cap is set at deployment and cannot be raised.
Calls
refuel(amount)
amount ≤ remaining
cap fixed at deployment
window · 24h
Keeps itself fuelled from a capped allowance
(003)
Places and maintains liquidity ladders
Aligned positions across a price band, built in the venues with a builder deployed, rebuilt when the strategy says so, collected when fees accrue.
Calls
build(plan)
collect(ids)
rebuilt per strategy
venues with a builder
4
Places and maintains liquidity ladders
(004)
Never holds the creator’s fees
Every claim, sweep and collect lands in the vault. The bursar’s own balance is gas and nothing else.
Calls
every claim → vault
every sweep → vault
every collect → vault
balance = gas only
Never holds the creator’s fees
02 · How it works
02 · How it works
bursar
How it works, from launch to exit.
Bursar is two contracts and one key per token. Everything on this page is a property of one of those three things.
01
Launch through Bursar
01
Launch through Bursar
02
The bursar claims fees on a schedule
02
The bursar claims fees on a schedule
03
It refuels its own gas within the cap
03
It refuels its own gas within the cap
04
It builds ladders
05
The creator withdraws or exits, any time
04
It builds ladders
05
The creator withdraws or exits, any time
Read the long version
(how it works →)
Read the long version
(how it works →)
Custody
Custody
What the contracts do.
©2026
©2026
©2026
Stated as properties you can read on-chain, not as a promise.
bursar
4
Four properties,
each one on-chain.
James Carter
Wilson & Co
Incredible team! They delivered exactly what we needed, on time and beyond expectations.
James Carter
Wilson & Co
Incredible team! They delivered exactly what we needed, on time and beyond expectations.
Owner-only withdraw
withdraw(currency, amount, to) · onlyOwner
The vault’s withdraw function checks msg.sender against the creator address and nothing else.
Owner-only withdraw
withdraw(currency, amount, to) · onlyOwner
The vault’s withdraw function checks msg.sender against the creator address and nothing else.
The operator cannot withdraw or redirect the fee stream
operator ∉ {withdraw, setFeeRecipient}
The operator key has no path to withdraw and no authority over the Pons fee recipient.
Refuel is capped per day
refuel(amount) · require(amount ≤ remaining)
A refuel above the remaining allowance in the rolling window reverts. The cap is immutable.
One transaction to stop or hand back
setOperator(0x0) · setFeeRecipient(to)
The creator can zero the operator or point the fee stream at any address without anyone at Bursar.
The operator cannot withdraw or redirect the fee stream
operator ∉ {withdraw, setFeeRecipient}
The operator key has no path to withdraw and no authority over the Pons fee recipient.
Refuel is capped per day
refuel(amount) · require(amount ≤ remaining)
A refuel above the remaining allowance in the rolling window reverts. The cap is immutable.
One transaction to stop or hand back
setOperator(0x0) · setFeeRecipient(to)
The creator can zero the operator or point the fee stream at any address without anyone at Bursar.
Launches onboarded · measured
Launches onboarded · measured
Launches onboarded · measured
Fees claimed · measured
Fees claimed · measured
Fees claimed · measured
Ladders placed · measured
Ladders placed · measured
Ladders placed · measured
Pools on the board · reported · TVL for 30 of them
Pools on the board · reported · TVL for 30 of them
Pools on the board · reported · TVL for 30 of them
bursar
bursar
bursar
Every figure on the site carries a provenance label.
Measured: summed by our indexer from swaps on-chain. Reported: taken from a third party and shown as given. Derived: computed from the other two, so it inherits the weaker source.
Measured: summed by our indexer from swaps on-chain. Reported: taken from a third party and shown as given. Derived: computed from the other two, so it inherits the weaker source.
A dash is a figure we could not compute, with the reason shown. A zero means we measured zero.
A dash is a figure we could not compute, with the reason shown. A zero means we measured zero.
03 · Ladder
Aligned positions across a price band.
Rungs below price hold the quote currency; rungs above hold the token.
Rungs below price hold the quote currency; rungs above hold the token.
Built to be crossed.
Built to be crossed.
Refuel cap:
per vault · fixed at deployment,
cannot be raised by anyone
Refuel window:
a constant on the vault · 24h
“A refuel that would exceed the cap reverts rather than sending part of it.”
refuel(amount) · amount ≤ remaining
24h
Refuel window
One bursar has one allowance, however many venues it builds into. It is fixed when that launch’s vault is deployed.
USDG
USDG
ETH / USDG fees · Uniswap V4 · measured
99.6K
ETH
49.2K
PONS
41.9K
WETH
30.6K
META
10.9K
WETH
10.8K
PONS
Two ways in
Two ways in
Launch or opt in.
Launch a token
Opt in a launch
Build ladders with the fees?
The strategy menu: ladders in the token’s own pool, hold fees in the quote currency, or spread ladders across the board.
ladders
1
/ transaction
Name, symbol, supply, quote currency, strategy
Fee recipient set to the vault at launch
No later transfer step
Bursar active
from block one
Launch a token
Opt in a launch
Build ladders with the fees?
The strategy menu: ladders in the token’s own pool, hold fees in the quote currency, or spread ladders across the board.
ladders
1
/ transaction
Name, symbol, supply, quote currency, strategy
Fee recipient set to the vault at launch
No later transfer step
Bursar active
from block one
Launch a token
Opt in a launch
Build ladders with the fees?
The strategy menu: ladders in the token’s own pool, hold fees in the quote currency, or spread ladders across the board.
ladders
1
/ transaction
Name, symbol, supply, quote currency, strategy
Fee recipient set to the vault at launch
No later transfer step
Bursar active
from block one
Looking for the long version?
The vault, the key, and what the bursar is allowed to do— every property on one page, stated as things you can read on-chain.
The vault, the key, and what the bursar is allowed to do— every property on one page, stated as things you can read on-chain.
bursar
bursar
bursar
Venues and quote currencies.
Venues and quote currencies.
Venue parameters
Each builder is deployed once with immutable parameters. Positions on every venue are read regardless of builder status.
Ladders are built where a builder is deployed. Positions are read everywhere. Tokenized equities are shown in token units. No dollar figure is attached to them until a price source exists.
Quote currency
held by the vault
ETH
A quote currency. The vault holds whatever the fee stream delivers, in ETH when it is the quote chosen at launch.
Quote currency
held by the vault
ETH
A quote currency. The vault holds whatever the fee stream delivers, in ETH when it is the quote chosen at launch.
Quote currency
held by the vault
ETH
A quote currency. The vault holds whatever the fee stream delivers, in ETH when it is the quote chosen at launch.
Quote currency
held by the vault
USDG
A quote currency. The vault holds whatever the fee stream delivers, in USDG when it is the quote chosen at launch.
Quote currency
held by the vault
USDG
A quote currency. The vault holds whatever the fee stream delivers, in USDG when it is the quote chosen at launch.
Quote currency
held by the vault
USDG
A quote currency. The vault holds whatever the fee stream delivers, in USDG when it is the quote chosen at launch.
Equity · units only
no dollar figure yet
NVDA
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
NVDA
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
NVDA
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
AMZN
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
GOOGL
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
RBLX
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
GLD
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
AMZN
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
GOOGL
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
RBLX
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
GLD
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
AMZN
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
GOOGL
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
RBLX
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Equity · units only
no dollar figure yet
GLD
A tokenized equity, shown in token units. No dollar figure is attached to it until a price source exists.
Questions.
Questions.
Every number on both sites carries one of three labels: measured, reported or derived.
Only the creator address recorded at launch or onboarding. The bursar holds an operator key that can call claim, sweep, refuel and the ladder builder. There is no function on the vault that lets the operator send value anywhere except back into the vault or, within the daily cap, to its own gas balance.
It refuels itself from the vault, up to a fixed amount per rolling window. If the cap is spent and the balance hits zero, it stops acting until the window resets. Claims are permissionless, so anyone can still claim on the token’s behalf in the meantime; proceeds go to the vault either way.
Yes, in one transaction. setOperator(0) halts every bursar action. You can set a new operator later, or hand the fee stream to any address you choose. Neither step needs us.
Because that figure cannot be computed honestly. TVL is reported by a third party and is sometimes missing; fee yield divides measured revenue by that TVL, so it is missing too. A dash always comes with the reason. A zero means we measured zero.
Measured: summed by our indexer from swaps on-chain. Reported: taken from a third party and shown as given. Derived: computed from the other two, so it inherits the weaker source. Every number on both sites carries one of the three.
Not yet. Balances in NVDA, GLD and the others are shown in token units with a dash where a dollar figure would be. We will attach one when a price source we can verify exists.
Only the creator address recorded at launch or onboarding. The bursar holds an operator key that can call claim, sweep, refuel and the ladder builder. There is no function on the vault that lets the operator send value anywhere except back into the vault or, within the daily cap, to its own gas balance.
It refuels itself from the vault, up to a fixed amount per rolling window. If the cap is spent and the balance hits zero, it stops acting until the window resets. Claims are permissionless, so anyone can still claim on the token’s behalf in the meantime; proceeds go to the vault either way.
Yes, in one transaction. setOperator(0) halts every bursar action. You can set a new operator later, or hand the fee stream to any address you choose. Neither step needs us.
Because that figure cannot be computed honestly. TVL is reported by a third party and is sometimes missing; fee yield divides measured revenue by that TVL, so it is missing too. A dash always comes with the reason. A zero means we measured zero.
Measured: summed by our indexer from swaps on-chain. Reported: taken from a third party and shown as given. Derived: computed from the other two, so it inherits the weaker source. Every number on both sites carries one of the three.
Not yet. Balances in NVDA, GLD and the others are shown in token units with a dash where a dollar figure would be. We will attach one when a price source we can verify exists.
Only the creator address recorded at launch or onboarding. The bursar holds an operator key that can call claim, sweep, refuel and the ladder builder. There is no function on the vault that lets the operator send value anywhere except back into the vault or, within the daily cap, to its own gas balance.
It refuels itself from the vault, up to a fixed amount per rolling window. If the cap is spent and the balance hits zero, it stops acting until the window resets. Claims are permissionless, so anyone can still claim on the token’s behalf in the meantime; proceeds go to the vault either way.
Yes, in one transaction. setOperator(0) halts every bursar action. You can set a new operator later, or hand the fee stream to any address you choose. Neither step needs us.
Because that figure cannot be computed honestly. TVL is reported by a third party and is sometimes missing; fee yield divides measured revenue by that TVL, so it is missing too. A dash always comes with the reason. A zero means we measured zero.
Measured: summed by our indexer from swaps on-chain. Reported: taken from a third party and shown as given. Derived: computed from the other two, so it inherits the weaker source. Every number on both sites carries one of the three.
Not yet. Balances in NVDA, GLD and the others are shown in token units with a dash where a dollar figure would be. We will attach one when a price source we can verify exists.
Docs for creators, LPs and integrators.
Docs for creators, LPs and integrators.
Launch, opt in, manage, exit. Read the board, build a ladder. Endpoints, provenance labels, addresses.
bursar
A treasury officer from block one.
© 2026 Bursar
Nothing it can take.
Every state change is a transaction you sign—simulated before you sign, decoded, and irreversible once included.
Permissionless claiming.
Claim and sweep are public functions. Whoever calls pays the gas; proceeds always land in the vault.
One transaction to exit.
Withdraw, stop the operator, or hand the fee stream back. None of them needs anyone at Bursar, and none needs this site to be up.
bursar
A treasury officer from block one.
Nothing it can take.
Every state change is a transaction you sign—simulated before you sign, decoded, and irreversible once included.
Permissionless claiming.
Claim and sweep are public functions. Whoever calls pays the gas; proceeds always land in the vault.
One transaction to exit.
Withdraw, stop the operator, or hand the fee stream back. None of them needs anyone at Bursar, and none needs this site to be up.
bursar
A treasury officer from block one.
© 2026 Bursar
Nothing it can take.
Every state change is a transaction you sign—simulated before you sign, decoded, and irreversible once included.
Permissionless claiming.
Claim and sweep are public functions. Whoever calls pays the gas; proceeds always land in the vault.
One transaction to exit.
Withdraw, stop the operator, or hand the fee stream back. None of them needs anyone at Bursar, and none needs this site to be up.