PonsV2LauncherToken $LETRO

Risks (8)

• HighClaim contradicted: A portion of every AI credit purchase made with LETRO is burned.claims-mismatchDeterministic

  The project claims token burns / buybacks, but no tokens of this contract were ever sent to a burn address or destroyed.

  Evidence

  • Xhttps://x.com/LetronnaAgent/status/2118421648126750763
    Show source

    buy AI credit in Letronna with it, and part of every purchase is burned.

  • on-chainTransfer events of 0xa2753fd0bc86b8ceb55ffd2698679c7f214785f1 to burn addresses + balanceOf(0x…dEaD)

  Confirmed by: facts

• MediumUnverified bonding curve holds 87.8% of supply and all buyer fundsliquidityAI

  Curve 0xe618…1D10 holds 87.76% of LETRO and all the quote currency paid in by buyers. Its source code is not verified. It exposes sweepFees, rescueFees, setCreatorFeeRecipient, setBuybackEnabled, initialize and graduate, but who may call them could not be checked. The factory code only shows the factory calling rescueFees, setCreatorFeeRecipient, setBuybackEnabled, initialize and graduate. If the deployed curve differs from the factory's expectations, it could hold back or redirect reserves. This cannot be ruled out without verified source.

  Evidence

  • on-chainrelatedContracts: bonding curve 0xe6183b5dDfabD4293133e7884e835F8B03941D10 verified=false
  • on-chaintopHolders: 0xe6183b5dDfabD4293133e7884e835F8B03941D10 pct 87.7622 (bonding curve)
  • codePonsV2LaunchFactory.sol:L1222-L1226
    Show source

    function rescueCurveFees(address token) external onlyOwner nonReentrant {
            LaunchedToken storage launch = _launchedTokens[token];
            if (!launch.exists) revert TokenNotFound();
            PonsV2BondingCurve(payable(launch.curve)).rescueFees();
        }

  Confirmed by: claude-opus-5.5, grok-4.7 · Disputed by: gpt-5.6-sol

• MediumPons owner can send stuck graduation reserves anywhere after 7 daysownershipAI

  Factory owner 0x263e…19Dd cannot renounce ownership. That owner can call rescueSweptGraduation to send a launch's swept quote reserves and tokens to any recipient. This only works when the launch is in the 'Swept' phase and 7 days have passed. During those 7 days, anyone can call createGraduatedPool to seed the Uniswap pool and close that path for good. forceSweptGraduation is limited to launches whose pool seed is not viable. The power exists as a backstop, but it trusts one owner. LETRO has not graduated yet, so the path is not active now.

  Evidence

  • codePonsV2LaunchFactory.sol:L1254-L1285
    Show source

    function rescueSweptGraduation(address token, address recipient) external onlyOwner nonReentrant {
            LaunchedToken storage launch = _launchedTokens[token];
            if (!launch.exists) revert TokenNotFound();
            if (launch.phase != GraduationPhase.Swept) revert WrongGraduationPhase();
            if (recipient == address(0)) revert ZeroAddress();
    
            uint256 availableAt = launch.sweptAt + GRADUATION_RESCUE_DELAY;
            if (block.timestamp < availableAt) revert GraduationRescueTooEarly(availableAt);
    
            uint256 quoteAmount = launch.sweptQuote;
            uint256 tokenAmount = launch.sweptTokens;
            address pairToken = launch.pairToken;
    
            launch.sweptQuote = 0;
            launch.sweptTokens = 0;

  • codePonsV2LaunchFactory.sol:L1109-L1123
    Show source

    function forceSweptGraduation(address token) external onlyOwner nonReentrant {
            LaunchedToken storage launch = _launchedTokens[token];
            if (!launch.exists) revert TokenNotFound();
            if (launch.phase != GraduationPhase.NotGraduated) revert WrongGraduationPhase();
            PonsV2BondingCurve curve = PonsV2BondingCurve(launch.curve);
            if (!curve.readyToGraduate()) {
                revert PonsV2BondingCurve.NotReadyToGraduate();
            }
            if (_graduationSeedable(token, launch, curve.realQuoteReserve(), curve.tokenReserve())) {
                revert GraduationStillViable();
            }
    
            _sweepCurve(token, launch, curve);
            emit LaunchForceSwept(token);
        }

  • codePonsV2LaunchFactory.sol:L630-L632
    Show source

    function renounceOwnership() public pure override {
            revert OwnershipCannotBeRenounced();
        }

  • on-chainlaunchpad-factory owner = 0x263ed295dAFaE1d9AAdD6E56c4B6F9f38eE019Dd

  Confirmed by: claude-opus-5.5, gpt-5.6-sol

• MediumTwo funder-linked wallet clusters hold about 9.9% of supplyholdersAI

  Five wallets funded by 0xe9e7…48a1 hold 6.59% of supply. These include the largest non-curve holder (3.10%). Four more wallets funded by 0xf50d…79bc hold 3.32%. Fresh wallets make up 10.54% of supply. These may be single entities spread across several wallets, and coordinated selling could hit the thin curve hard. No snipers were found in the first 100 blocks, and the deployer has not sold.

  Evidence

  • on-chaintoken.clusters[0]: funder 0xe9e71dab44811ce456f627197b75571ff90648a1, pctSupplyHeldNow 6.5911
  • on-chaintoken.clusters[1]: funder 0xf50de67c1c65a60e1f111bf151435568e21a79bc, pctSupplyHeldNow 3.3245
  • on-chaintoken.freshWalletsPct = 10.5396
  • on-chaintoken.snipers.wallets = [] ; deployerSoldPct = 0

  Confirmed by: claude-opus-5.5, grok-4.7, gpt-5.6-sol

• MediumRoadmap says LETRO has not launched while the token is liveclaims-mismatchAI

  The public roadmap lists the LETRO launch as later work that has not started, while the same site and the project X account already publish the live contract and tell people to use $LETRO for AI credit. A holder cannot tell from the project's own pages whether the token, buybacks, and credit payments are actually live.

  Evidence

  • webhttps://letronna.ai/roadmap
    Show source

    $LETRO launches
    The token goes live; buy it with ETH on the site and pay for credit with it.

  • webhttps://letronna.ai/roadmap
    Show source

    Later
    Planned, not started.

  • webhttps://letronna.ai/tokenomics
    Show source

    Launch
    On Robinhood Chain,via pons.family.
    0xa2753fd0bc86b8ceb55ffd2698679c7f214785f1

  • Xhttps://x.com/LetronnaAgent/status/2118421648126750763
    Show source

    Its wallet runs on Robinhood Chain, with $LETRO: buy AI credit in Letronna with it, and part of every purchase is burned.
    
    Contract: 0xa2753fd0bc86b8ceb55ffd2698679c7f214785f1

  Confirmed by: grok-4.7, gpt-5.6-sol

• LowPons owner can redirect the 3.1% creator tax after a 3-day delayfeesAI

  The factory owner can propose a new creator-fee recipient for any launch. After 3 days, anyone can execute it within a 3-day window. The change also redirects vested buyback tokens. Holders do not pay more because of this, since the fee rates stay fixed. It only changes who receives the creator tax.

  Evidence

  • codePonsV2LaunchFactory.sol:L946-L957
    Show source

    function setCreatorFeeRecipient(address token, address newRecipient) external onlyOwner {
            LaunchedToken storage launch = _launchedTokens[token];
            if (!launch.exists) revert TokenNotFound();
            if (newRecipient == address(0)) revert ZeroAddress();
    
            uint256 effectiveAt = block.timestamp + CREATOR_FEE_RECIPIENT_TIMELOCK;
            uint256 expiresAt = effectiveAt + CREATOR_FEE_RECIPIENT_EXECUTION_WINDOW;
            pendingCreatorFeeRecipient[token] =
                PendingCreatorFeeRecipient({newRecipient: newRecipient, effectiveAt: effectiveAt, expiresAt: expiresAt});
    
            emit CreatorFeeRecipientChangeProposed(token, launch.creatorFeeRecipient, newRecipient, effectiveAt, expiresAt);
        }

  • codePonsV2LaunchFactory.sol:L988-L1006
    Show source

    function _setCreatorFeeRecipient(address token, LaunchedToken storage launch, address newRecipient) private {
            if (newRecipient == address(0)) revert ZeroAddress();
    
            address previousRecipient = launch.creatorFeeRecipient;
            launch.creatorFeeRecipient = newRecipient;
    
            if (launch.phase == GraduationPhase.PoolCreated) {
                memeHook.setCreatorFeeRecipient(_poolIdFor(token, launch), newRecipient);
            } else {
                PonsV2BondingCurve(launch.curve).setCreatorFeeRecipient(newRecipient);
            }
    
            // Keep the buyback vest's beneficiary aligned with the live creator
            // recipient so recovery and self-service transfers redirect vested
            // buyback tokens as well, not only immediate fee payouts.

  Confirmed by: claude-opus-5.5, gpt-5.6-sol

• LowOwner can change which factory the LP locker and vault trustliquidityAI

  PonsV2LaunchLocker and PonsV2BuybackVault both have owner-only setFactory functions. Their owner is 0x263e…19Dd. The factory is the privileged caller of lockPosition, lockTokenSupply and updateCreatorRecipient. The locker and vault source code was not supplied, so we cannot tell whether a replacement factory could withdraw locked LP or vested tokens. LETRO has no LP locked yet because it has not graduated.

  Evidence

  • on-chainLP-locker fn setFactory(address) [owner] @PonsV2LaunchLocker.sol:L60-L66
  • on-chainbuyback-vault fn setFactory(address) [owner] @PonsV2BuybackVault.sol:L98-L104

  Confirmed by: claude-opus-5.5 · Disputed by: gpt-5.6-sol

• LowStaking, early-exit burn and buyback claims are unverifiableclaims-mismatchAI

  The tokenomics page describes a 90-day self-renewing staking lock, a 10% burn on early exit, and half of the hosted-model margin buying back LETRO. No staking or buyback contract for these features appears in the material. The project's site requires email login (Clerk), so the automated stake and unstake tests could not run. This does not prove a scam, but holders cannot verify these promises. The only on-chain buyback found is the Pons launchpad's curve-fee buyback into a 5-year vest.

  Evidence

  • webhttps://letronna.ai/tokenomics
    Show source

    The lock is 90 days and renews itself; leaving early burns 10%.

  • forkdappTests: stake
    Show source

    Accessing the staking dashboard requires email verification via Clerk, which cannot be completed automatically.

  • forkdappTests: unstake
    Show source

    Cannot access the app because it requires email verification code (Clerk auth flow) which cannot be received.

  Confirmed by: claude-opus-5.5, grok-4.7, gpt-5.6-sol

Positive signals (2)

• PositiveToken is a fixed-supply template with no owner powersownershipAI

  LETRO is the standard Pons V2 launch template: plain OpenZeppelin ERC20 plus a burn function. It has no owner, no mint after deployment, no fees, no blacklist and no pause. The whole supply was minted once, to the bonding curve, in the constructor. The stored deployer address is reference data only and gives no control over the token. Holders can only burn their own tokens, or tokens they were given an allowance for.

  Evidence

  • codePonsV2LauncherToken.sol:L44-L71
    Show source

    constructor(
            string memory name_,
            string memory symbol_,
            string memory logo_,
            string memory description_,
            Socials memory socials_,
            address deployer_,
            address curve_,
            address launchFactory_,
            uint256 supply_
        ) ERC20(name_, symbol_) {
            if (deployer_ == address(0) || curve_ == address(0) || launchFactory_ == address(0)) {
                revert ZeroAddress();
            }

  • codePonsV2LauncherToken.sol:L21
    Show source

    contract PonsV2LauncherToken is ERC20, ERC20Burnable {

  • staticslither 0.11.6: issues = []
  • on-chaincontract.privileges = [] ; isProxy = false

  Confirmed by: claude-opus-5.5, gpt-5.6-sol

• PositiveBuys and sells work on the curve at about 4.1% feehoneypotAI

  A fork simulation bought and sold on the bonding curve. Both worked. A second wallet that received tokens by transfer could also sell, and selling one hour later worked too. The measured cost was 4.08% on the buy and 4.1% on the sell. That cost is the curve's 1% protocol fee plus a 3.1% creator tax, and transfers between wallets are untaxed. The anti-sniper tax has already decayed to 0. This curve's fee figures are fixed at launch.

  Evidence

  • forksimulation: canBuy=true, canSell=true, buyTaxPct=4.08, sellTaxPct=4.1, transferTaxPct=0
  • forksimulation note
    Show source

    second wallet (received via transfer) could sell

  • on-chainlaunchpad.fees.notes
    Show source

    protocol fee 1%; creator tax 3.1%; launch snipe tax decays to 0 over 3s (now 0 bps)

  • codePonsV2LaunchFactory.sol:L545-L554
    Show source

    /**
         * @notice Adjusts the ceiling a creator's chosen trade tax is validated
         * against at launch time. Already-launched tokens keep the immutable
         * tax rate they launched with regardless of later ceiling changes.
         */
        function setMaxCreatorTaxBps(uint256 bps) external onlyOwner {
            if (bps > MAX_CREATOR_TAX_CEILING_BPS) revert InvalidBasisPoints();
            maxCreatorTaxBps = bps;
            emit MaxCreatorTaxUpdated(bps);
        }

  Confirmed by: claude-opus-5.5, grok-4.7, gpt-5.6-sol

Notes (4)

• InfoOnly about $1.2k liquidity; token has not graduated yetliquidityAI

  There is no Uniswap pool yet. Liquidity on the curve is about $1,163, so even small sells move the price a lot. LP locking only applies after graduation.

  Evidence

  • on-chaintoken.liquidity: pons-v2-bonding-curve liquidityUsd 1163; graduated=false

  Confirmed by: claude-opus-5.5, grok-4.7, gpt-5.6-sol

• InfoDeployer holds 0.62%, has not sold, and gets the creator taxinsidersAI

  Deployer 0xF836…f4Aa was automatically exempt from the snipe tax. It holds 0.6239% and has sold nothing. It receives the 3.1% creator tax by default.

  Evidence

  • on-chaintoken.insiders: 0xf836cf3130c0afc83355f87a8db480f720f5f4aa pctSupplyHeldNow 0.6239
  • codePonsV2LaunchFactory.sol:L813-L847
    Show source

    address creatorFeeRecipient =
                params.creatorFeeRecipient == address(0) ? originalDeployer : params.creatorFeeRecipient;
    
            (token, curve) = launchDeployer.deployLaunch(
                LaunchDeployment({
                    pairToken: pairToken,
                    creatorFeeRecipient: creatorFeeRecipient,
                    originalDeployer: originalDeployer,
                    feePolicy: memeHook,
                    policy: policy,
                    feeEscrow: feeEscrow,
                    buybackVault: buybackVault,
                    phantomQuote: phantomQuote,
                    curveFeeBps: config.curveFeeBps,
                    creatorTaxBps: params.creatorTaxBps,

  Confirmed by: claude-opus-5.5, grok-4.7, gpt-5.6-sol

• InfoWebsite domain registered about six weeks before launchwebsiteAI

  letronna.ai was registered on 2026-09-21 and the token was deployed on 2026-11-05. There are no Wayback snapshots. This gives limited history to judge the project by.

  Evidence

  • on-chainsite.domainCreatedAt = 2026-09-21T14:06:37.289Z; waybackSnapshots = []

  Confirmed by: claude-opus-5.5, grok-4.7, gpt-5.6-sol

• InfoNo named people behind the company; X account is a day oldsocialAI

  The site says Letronna is made by Gadlus LLC in Wyoming and gives a street address and a state file number. No person is named on the site, GitHub, or X, so that company claim cannot be checked against a real individual from this material. The X account itself is only a day old at launch (created 2026-11-04, token deployed 2026-11-05) with 118 followers. That is a new brand account, not proof of a rug.

  Evidence

  • webhttps://letronna.ai/
    Show source

    Letronna is a product of Gadlus LLC, a Wyoming limited liability company. ·
    30 N Gould St Ste N, Sheridan, WY 82801
    WY file no. 2026-002093085

  • webhttps://github.com/gadlus
    Show source

    This organization has no public members.

  • Xhttps://x.com/LetronnaAgent/status/2118421648126750763
    Show source

    Letronna is an agent with its own cloud and wallet, written in Rust.

  Confirmed by: grok-4.7 · Disputed by: gpt-5.6-sol