Commodity coins
Each of the 29 commodities has a coin that tracks its price. A price feed is updated from live market data and a single-sided Uniswap pool keeps the coin buyable and sellable against USDG at that price. Markets launched on CME are paired with one of these coins, so token USD price = price in the pair coin × the commodity's USD price.
Launch terms
Every launch mints 1,000,000,000 tokens. 800 million sell on a virtual-liquidity curve that opens at a $5,000 market cap and completes at $35,000, both fixed in the pair coin at creation. The creator sets a trading fee between 1% and 3% and makes a first buy of at least $1 in the same transaction. Buys can be paid in ETH, USDG, or the pair coin; ETH and USDG are swapped to the pair coin on the way in.
Migration
When the last curve token sells, the coin raised and the reserved 200 million tokens move into a Uniswap v4 pool in the same transaction, at the curve's final price. The pool charges the same fee the creator chose, enforced by the pool itself, and its liquidity is permanent.
Fees
Every fee is split the same way on the curve and in the pool. Creators claim 30% from their account page. Holders of the meme/commodity pair are paid 40% in the commodity coin the market is paired with, weighted by balance and sent automatically. The remainder funds the exchange.
$CME
Half of the exchange's trading fees buy back CME. The other half becomes liquidity, pairing CME with each of the 29 commodity coins so it trades against every commodity rather than one USDG pool.
Market metadata
A launch stores its image and metadata in content-addressed storage. The permanent metadata URI is written on chain at creation and never changes, so a market's name, image, and links are exactly what its creator published.