LockPad Platform No-Rug and Liquidity Commitment
Version 0.5 (draft of October 5, 2026) · Effective: [Effective Date] · Signed by [LockPad Entity Name] and by Michael Maloney, Founder and Developer
Why this exists
Most memecoin "rugs" happen because someone keeps a key: a mint authority, a freeze authority, an unlocked liquidity position, a dev allocation, or an admin or upgrade key. LockPad is built so that, for every coin launched through it, those keys do not exist or are permanently given up in the launch transaction itself. This Commitment puts that design in writing, extends it to how we and our team behave, and tells you how to check it yourself.
1. Who is making this Commitment
1.1 This Commitment is made by [LockPad Entity Name], a [State] [entity type] with its address at [Address] ("LockPad"), and by Michael Maloney, individually, as founder and developer of LockPad (together, the "Committing Parties").
1.2 The Committing Parties will require every officer, employee, contractor and other person who has access to any Platform Wallet, LockPad's deployment infrastructure, or non-public launch information (each, a "Team Member") to agree in writing to the conduct commitments in Section 3 as a condition of that access. In this Commitment, "we" means the Committing Parties and, for Section 3, each Team Member.
1.3 LockPad is the deployer of record (the "dev") of every LockPad Coin. Creators submit the coin idea and earn the Creator fee share, but LockPad deploys the coin. That is why this Commitment is made by LockPad: the deployer is the party that could otherwise keep rug powers, and we give them all up. This Commitment applies to every coin launched through LockPad on any chain (each, a "LockPad Coin"), from the Effective Date for as long as any LockPad Coin exists. It applies in full to LockPad's own tokens, $LOCKY and $LOCKPAD, if and when they are launched, together with the additional commitments in Section 4A.
2. Commitments enforced on-chain by the launch transaction
For every LockPad Coin, the single launch transaction will, and the proof page will show that it did:
2.1 Lock liquidity permanently. The launch liquidity is locked permanently through the lock mechanism of Meteora (Solana) or LockPad's Uniswap v4 hook (EVM chains: Base, Ethereum, BNB Chain and Robinhood Chain). No LockPad wallet holds a withdrawable liquidity position or the right to unlock it.
2.2 Revoke mint and freeze authority. Mint authority and freeze authority (or the chain's equivalent, such as owner/minter/pauser/blacklist roles) are revoked or set to the null address. Nobody can mint more supply or freeze any holder.
2.3 Fix the name and ticker. The coin's name and ticker are written once at launch and can never be changed by anyone. The on-chain metadata link is also written once and points to LockPad's coin-info page for that coin, where the wallet that launched the coin can edit the description, logo, banner and links through LockPad. Every edit is listed publicly in the coin's edit history. Editing coin info never touches the token, its supply, its liquidity or its fees.
2.4 Fix the fee split. The trading-fee split and the recipient wallets are fixed and cannot be changed by anyone. The split is applied after any protocol share, as described in the Fee Schedule, and is: for regular coins LockPad deploys from Creators' ideas, 75% Creator / 5% $LOCKY buyback-and-burn / 10% $LOCKPAD buyback-and-burn / 10% LockPad platform fee; for reward coins (paired with any token CA that passes LockPad's automated checks; tokenized-stock rewards switch on after legal review), 25% Creator / 50% holders (paid in the reward tokens) / 5% $LOCKY buyback-and-burn / 10% $LOCKPAD buyback-and-burn / 10% LockPad platform fee; for $LOCKY, 80% $LOCKY buyback-and-burn / 20% LockPad platform fee; for $LOCKPAD, 80% $LOCKPAD buyback-and-burn / 20% LockPad platform fee. In plain numbers: Traders pay 1.5%. On Solana, the pool protocol (Meteora) keeps 20% of that, and on regular coins the remaining 1.2% is split 75% creator / 5% $LOCKY burn / 10% $LOCKPAD burn / 10% platform, so creators earn about 0.9% of every trade. On Base, Ethereum, BNB Chain and Robinhood Chain, LockPad's own pool hook collects the full 1.5% with no protocol cut, so the same split gives regular-coin creators 1.125% of every trade. On reward coins the Creator receives about 0.3% of every trade on Solana and 0.375% on EVM chains.
2.5 Leave the deployer with nothing. LockPad, as deployer of record, and its launcher wallet hold zero (0) tokens of the coin after the launch transaction and keep no mint, freeze, metadata, liquidity or fee authority, role or special permission over the coin. Being the "dev" of a LockPad Coin gives us no power over it.
3. Conduct commitments
We will never:
3.1 Withdraw, sweep or remove liquidity from any LockPad Coin, or attempt to, or assist anyone to.
3.2 Mint, freeze or retain authorities. Mint additional supply of, freeze, blacklist or pause any LockPad Coin, or retain, re-acquire or seek any mint, freeze, metadata, owner or similar authority over it.
3.3 Hold launch allocations. Receive, reserve or hold any launch allocation, pre-mint, first buy, vesting position or other tokens of any LockPad Coin as part of or in connection with its launch.
3.4 Use admin or upgrade keys. Deploy or use any admin key, upgrade key, proxy pattern, owner-only function or backdoor that could alter a LockPad Coin, its liquidity or its fee configuration. LockPad's own smart contracts (including the EVM fee hook, any fee-routing contracts and the Solana Lifeboat program) are non-upgradeable and have no owner functions other than those published in their verified source code, which are limited to [TEAM TO LIST, if any].
3.5 Front-run or snipe. Buy, or cause or allow anyone to buy, any LockPad Coin ahead of the public, including by front-running, sandwiching, bundling with or sniping the launch transaction, or by using Platform Wallets or Team Member wallets to trade a coin within [X minutes/hours] after its launch.
3.6 Trade on non-public launch information. Trade, or tip others to trade, any LockPad Coin, $LOCKY or $LOCKPAD on the basis of non-public information, including upcoming launches, Creator identities, delisting decisions, or the timing of buybacks.
3.7 Trade LockPad Coins from Platform Wallets, except programmatic buyback-and-burn of $LOCKY and $LOCKPAD from the disclosed buyback wallets under published rules (Section 4.4).
4. Treasury, wallets and disclosure
4.1 Wallet registry. We will publish, at officiallockpad.com/wallets and on each proof page, a complete list of every wallet address and contract that LockPad controls or uses in the launch and fee flow on every chain ("Platform Wallets"), including: launcher wallets, the checkout wallet(s) on each chain, LockPad's smart contracts and programs (including the Solana Lifeboat program), the platform fee wallet(s), the $LOCKY buyback wallet(s), the $LOCKPAD buyback wallet(s), and treasury wallet(s). We will update the registry before any new Platform Wallet is used and will never use an undisclosed wallet in the launch or fee flow.
4.2 Single-signer treasury. The platform fee wallet(s), the buyback wallets and the treasury are single-signer wallets: each is controlled by one private key held by LockPad, with no second signer and no second approval. Whoever controls that key can move the funds in those wallets, so their security depends on that one key. We will list each of these wallets in the wallet registry (Section 4.1), and their transactions are public on-chain. Launcher and checkout wallets, which must sign automatically, are operational hot wallets intended to hold just the balances needed for operations; balances above [threshold] are swept to the treasury about every hour. Creators' fee shares are not held in the treasury: they are paid out automatically to each Creator's Payout Address (Fee Schedule, Section 6).
4.3 Launch-fee handling. Launch fees received on any chain are LockPad's fee for the service and will be moved only (a) to fund automatic refunds of failed launches, (b) to pay launch network costs, or (c) to the disclosed single-signer treasury wallet (Section 4.2).
4.4 Buyback-and-burn rules. We will publish the rules for buyback-and-burn (frequency, execution method, and burn address) before any buyback occurs, and we will publish each buyback and burn transaction. Until $LOCKY or $LOCKPAD exists, the corresponding buyback share will stay in its disclosed buyback wallet and will not be spent for any other purpose. [LAWYER TO FINALIZE fallback if a token is never launched.] Buybacks are a fee-routing mechanism and are not a promise of price support or any return.
4.5 Team holdings. No one on the team receives any $LOCKY or $LOCKPAD from the launch (Section 4A.2). We will publicly disclose any $LOCKY and $LOCKPAD that LockPad or any Team Member later buys on the open market, and any changes above [threshold], [within X days]. Tokens bought back under Section 4.4 are burned, not kept. [LAWYER TO REVIEW.]
4A. LockPad's own tokens: $LOCKY and $LOCKPAD
4A.1 Status. As of this Commitment, $LOCKY and $LOCKPAD do not exist. LockPad plans to create both tokens itself and launch them together after a few days of announcements on our social channels. Plans can change, and either token may launch later or never.
4A.2 No team allocation. There is no team, founder or insider allocation of $LOCKY or $LOCKPAD. Neither LockPad, Michael Maloney, any Team Member, nor any advisor, investor, partner or other insider will receive, reserve or be promised any $LOCKY or $LOCKPAD from the launch or in connection with it: no pre-mint, no reserved supply, no vesting, no first buy and no airdrop to insiders. The launcher wallet will hold zero (0) tokens of each after its launch transaction, as for every LockPad Coin. Anyone who wants either token, including us, has to buy it on the open market after it is publicly tradable, subject to Sections 3.5 and 3.6.
4A.3 Same no-rug launch rules. Each token will be launched through LockPad's standard launch transaction with every protection in Section 2: permanently locked liquidity, revoked mint and freeze authorities, a fixed name and ticker, a frozen fee split and a launcher wallet left with nothing. Each will have its own proof page.
4A.4 Where their fees go. Because LockPad creates these tokens, there is no outside Creator, and their trading fees go to LockPad under a split frozen at launch:
- $LOCKY: 80% to buyback-and-burn of $LOCKY; 20% platform fee to LockPad, for future marketing and projects.
- $LOCKPAD: 80% to buyback-and-burn of $LOCKPAD; 20% platform fee paid to LockPad.
The platform-fee wallet(s) and buyback wallets receiving these fees are Platform Wallets under Section 4 and are covered by the wallet registry, single-signer treasury disclosure and publication rules there.
4A.5 Announcements are not promises. Social posts before or after launch about either token will not promise or predict price, value, returns, listings or buyback amounts, and will not give advance notice of the launch time to any insider or selected group ahead of the public announcement. [FOUNDER/LAWYER TO CONFIRM 4A.5.]
4B. Delisting is narrow and never touches the chain
4B.1 Only two grounds. We will delist a LockPad Coin from LockPad's website and interfaces only for (a) phishing links to wallet drainers or fake airdrops in the coin's description, links or socials shown on LockPad, or (b) fake volume or fake holders created through wash trading or bot or sybil wallets controlled or funded by the Creator or people acting with the Creator. Nothing else is a ground for delisting — not impersonation, copycat names, offensive memes, complaints alone or a falling price. The full process (evidence, warning label, appeal) is the Delisting Policy in Section 12 of the Terms of Service.
4B.2 Delisting never touches the chain. Delisting only removes a coin from LockPad's own website, listings and social channels. It does not and cannot affect the coin, its permanently locked liquidity, or any holder's coins on-chain. We have no power to delete, pause, freeze or blacklist a coin, unlock or move its liquidity, take anyone's coins, or change its fee split, and we will never try to gain such a power for the purpose of delisting or for any other purpose (Sections 2 and 3).
4B.3 Evidence and transparency. We will delist only after a person has reviewed evidence from link scanning or on-chain trade analysis, will show a warning label first where feasible, and will state on the coin's page which ground applied, with a summary of the evidence, while continuing to show its on-chain facts so holders can verify the lock. Anyone can appeal by emailing Mike@officiallockpad.com.
4B.4 Fees on delisted coins. The fee split is frozen on-chain, so it keeps operating after delisting. LockPad keeps its 10% platform fee from delisted coins. The buyback shares keep going to buyback-and-burn. LockPad pauses its own tools for claiming or forwarding the Creator's share, as set out in the Fee Schedule, but cannot block the Creator's share on-chain.
5. On-chain proof instead of audits
5.1 No independent audit. LockPad has not engaged an independent security auditor, and we do not describe our smart contracts or launch program as audited. Instead, every material fact about a LockPad Coin is verifiable on-chain from its proof page: revoked mint and freeze authorities, the fixed name and ticker (and the public edit history of the coin info), the locked liquidity position, the launcher wallet's zero token balance, and the frozen fee configuration and recipients.
5.2 Verified source. All LockPad smart contracts will have verified source code on the relevant block explorer, or (on Solana) source and file hash published.
5.3 Reporting issues. If you find a security issue, please report it privately to Mike@officiallockpad.com and do not post exploit details publicly. LockPad does not currently run a bug bounty program.
6. How to verify
6.1 Every LockPad Coin's proof page links to the launch transaction and shows, with links to independent block explorers: authority status, the fixed name and ticker and the coin-info edit history, the liquidity lock, the fee configuration and recipients, the launcher wallet's zero balance, and fee flows to Platform Wallets. You do not have to trust us — check the chain. If a proof page and the blockchain ever differ, the blockchain controls, and we ask you to report the difference to Mike@officiallockpad.com.
7. What this Commitment does not cover
7.1 This Commitment is about what we do and the configuration we deploy. It is not a guarantee of any coin's price, value or liquidity. A LockPad Coin can still lose all of its value through ordinary market activity — for example, when holders, including the Creator, sell (see the Risk Disclosure Statement).
7.2 We do not control, and this Commitment does not cover, the conduct of Creators or traders, or the code, governance, upgrades, fee changes or failures of third-party protocols and chains (including Meteora, Uniswap, PancakeSwap, Solana, Ethereum, Base, BNB Chain and Robinhood Chain), some of which may be upgradeable by their own operators.
7.3 An exploit of a third-party protocol or a theft of a Platform Wallet by an unrelated attacker is not a breach of this Commitment by us, although we will disclose any such incident promptly (Section 8.2).
8. Remedies and enforceability
[LAWYER TO FINALIZE THIS SECTION. The options below are drafted for review; they are not yet agreed.]
8.1 Binding commitment. The Committing Parties intend this Commitment to be a binding, irrevocable commitment, made for the benefit of, and enforceable by, (a) each Creator who launches a LockPad Coin and (b) each holder of a LockPad Coin (each, a "Beneficiary"), who are intended third-party beneficiaries. This Commitment may not be amended to weaken any commitment with respect to any LockPad Coin already launched. [LAWYER: confirm enforceability theory — unilateral contract, deed poll, incorporation into the Terms/Creator Launch Agreement, and/or promissory estoppel — under the governing law.]
8.2 Disclosure of breach or incident. If any Committing Party or Team Member breaches this Commitment, or a Platform Wallet is compromised, LockPad will publicly disclose the facts on the website and @OfficialLockPad within [72 hours] of becoming aware of it.
8.3 Restitution [OPTION A]. If any Committing Party or Team Member breaches Section 3.1, 3.3, 3.5 or 3.6, the breaching party will disgorge all profits obtained from the breach and, to the extent of LockPad's available funds, LockPad will make affected Beneficiaries whole for losses directly caused by the breach, through a published claims process.
8.4 Liquidated damages [OPTION B]. [LAWYER TO CONSIDER a liquidated-damages amount per breach payable to a restitution pool, and its enforceability under the governing law.]
8.5 Equitable relief. The Committing Parties agree that breach would cause irreparable harm and that Beneficiaries may seek specific performance or injunctive relief without posting a bond, to the extent permitted by law.
8.6 Team Member accountability. Any Team Member who breaches Section 3 will lose access to all Platform Wallets and systems immediately and will be removed from the team; LockPad will pursue its contractual remedies against that person.
8.7 Dispute resolution. [LAWYER TO DECIDE whether claims under this Commitment are subject to the arbitration agreement and class action waiver in the Terms, or carved out, and how personal liability of the founder is scoped.]
8.8 On-chain enforcement first. The core protections in Section 2 do not depend on any lawsuit: they are enforced by the launch transaction and the immutable state of the blockchain, and anyone can verify them on the proof page.
9. Signatures
Signed and published on [Date].
[LockPad Entity Name]
By: ______________________________
Name: Michael Maloney
Title: [Founder / Chief Executive Officer]
Michael Maloney, individually, as Founder and Developer
______________________________
Michael Maloney
On-chain attestation: The text of this Commitment (SHA-256 hash: [hash]) is signed by the LockPad launcher authority wallet [address] and the single-signer treasury wallet [address] in transaction [tx hash], and the signed message is published at officiallockpad.com/commitment.