# The five pools

V1: coins launched before factory v2. This tab applies to coins launched before factory v2, from the v1 factory, and only to them. Nothing new launches there: every new launch is v2, in the V2 tab.

Each chain got 1 billion tokens in its liquidity pool, held in a concentrated liquidity position. As the price rises, the pool sells tokens and collects the quote asset.

| Chain | Venue | Quote |
| --- | --- | --- |
| Ethereum | Uniswap v4 | ETH |
| Base | Uniswap v4 | ETH |
| Robinhood Chain | Uniswap v4 | ETH |
| BSC | Uniswap v4 | BNB |
| Solana | Meteora DAMM v2 | SOL |

Each pool pays sellers from its own reserves. A chain with fewer buyers may have less quote asset available, regardless of how much liquidity exists elsewhere.

## Opening market cap

Every v1 coin opened at **$3,000 a chain**, $0.000003 a token, on all five chains at once. It was fixed by the contracts, not chosen.

Part of the Pangea documentation, V1 (earlier launches) tab: https://www.pangea.trade/app/docs.md