How COMO works

COMO is made of four parts, all on-chain and verifiable:

Everything runs on smart contracts. An off-chain keeper relays bridge operations, publishes commodity prices, collects fees and pushes holder rewards; it cannot move user funds.

1. Add Arc to your wallet. Arc (chain ID 5042) uses USDC as its gas token. Connect with the button at the top of the site: it adds the network for you.
2. Get USDC on Arc for gas and purchases, from an exchange or a bridge that supports Arc.
3. Optional: bring commodities. Hold GLD, SLV or USO on Robinhood Chain? Use the Bridge to move them to Arc.
4. Trade or launch. Buy tokens from their page, or create your own on Launch.
5. Follow your holdings and claim rewards on Portfolio.

A token can be paired with two kinds of commodities:

Markets are grouped in six categories:

Energy

Crude oil, natural gas and refined fuels.

+1

Metals

Precious, base and battery metals.

+8

Agricultural

Grains, oilseeds and soft commodities.

+6

Industrial

Materials for industry.

Livestock

Cattle, hogs and dairy.

Beyond commodities

Government bonds, carbon and real assets.

The full list, with live and upcoming markets, is on the Commodities page.

Robinhood Chain → Arc

Deposit the stock token into its vault on Robinhood Chain. The fee is 1% (with a small minimum that covers keeper gas), capped at 1% by a contract constant. The keeper then mints the same amount, minus the fee, on Arc.

Arc → Robinhood Chain

redeem burns your tokens on Arc; the keeper releases the underlying stock token from the vault to the destination you chose.

Caps and epochs

Daily caps limit minting and releases per asset, and reset at 00:00 UTC. Requests above the cap are accepted and queued, then processed in order at the next epoch. A maximum supply also applies per asset.

Proof of reserves

The Reserves page compares, live, the stock tokens held by each vault with the supply on Arc. Coverage = (vault reserves − deposits not yet minted) ÷ (Arc supply + redeems not yet released). We show the worst coverage first, never an average.

Every launch follows the same rules, enforced by the launcher contract:

• Fixed supply: 1,000,000,000 tokens, all placed in a single-sided Uniswap v3 position (1% fee tier) against the chosen commodity.
• Liquidity locked forever: the position NFT is held by the fee locker, which has no withdrawal function.
• No owner, no mint, no pause on the token itself.
• Tradeable everywhere from the first block: no bonding curve and no migration. Any wallet, aggregator or terminal that supports Uniswap v3 on Arc can trade it.
• Dev buy (optional): executed in the same transaction as the launch, so it cannot be front-run. Not available on synthetic pairs.

The creator chooses total fees between 1% and 5%: the 1% Uniswap pool fee plus a token tax of 0% to 4%.

• Buys: the tax is deducted from the tokens you receive.
• Sells: the tax is charged on top of the amount sold, from your remaining balance. Max sell = balance × 10,000 / (10,000 + tax in bps).
• Wallet-to-wallet transfers are never taxed.

All fees are converted to the pair commodity and split by the fee locker:

These shares are constants in the contract. The same model applies to backed and synthetic pairs.

Rewards are paid in the pair commodity, pro rata to balances, and computed on-chain with a reward-per-share accumulator: no snapshots and no Merkle roots. They follow transfers, and pools, the fee locker, the launcher and the dead address are excluded.

Release and payout

• Fees distributed to holders are released linearly over 24 hours, so timing a purchase cannot capture them.
• Hourly rounds: at every full hour (UTC), each token that has built up at least $150 of fees since its last payout sends its rewards to every holder with at least $0.25 to receive.
• Holders can always claim themselves, at any time, from the token page or the Portfolio.

The countdown to the next round and the fees built up are shown live on the home page and on each token page.

$COMO is the platform token. It is paired with USDC and has 1% fees, with no holder share. Its value mechanism is the buyback and burn: 40% of all fees generated by every token on COMO, backed and synthetic pairs included, buy $COMO on the market and send it to the dead address.

Price

Each synthetic token tracks one quotation unit (troy ounce, pound, barrel, metric ton…). Most markets follow the front-month futures contract; at each contract roll the published price is adjusted so it does not jump, so over time it can differ from the contract currently traded. Nickel, zinc and tin follow the official LME cash settlement price and bronze the German reference price, both published once per business day by Westmetall: these markets are always quoted with the wider closed-market spread.

The Desk

The Commodity Desk contract quotes each synthetic against USDC: it sells slightly above the oracle price and buys back slightly below (0.5% when the market is open, 2% when closed, weekends included). The USDC paid by buyers goes to a reserve dedicated to that commodity; buybacks come only from that reserve. The treasury is never a counterparty.

How you trade

COMO never sells a synthetic directly. You buy a token paired with a synthetic in USDC: the route goes through the synthetic in the same transaction. When a market is paused, its oracle is on hold, or its reserve has no buy order yet, the site tells you exactly why a trade is unavailable.

Markets

Market	Price source	Unit	Max move / hour	Max move / day
cPLAT Platinum	PL=F futures	troy ounce	5%	15%
cPALL Palladium	PA=F futures	troy ounce	5%	15%
cCOPPER Copper	HG=F futures	pound	5%	15%
cALU Aluminium	ALI=F futures	metric ton	5%	15%
cBRENT Brent Crude	BZ=F futures	barrel	7%	15%
cNATGAS Natural Gas	NG=F futures	MMBtu	8%	20%
cGASOLINE Gasoline	RB=F futures	gallon	8%	18%
cSTEEL Steel	HRC=F futures	short ton	5%	15%
cHEAT Heating Oil	HO=F futures	gallon	7%	15%
cNICKEL Nickel	Westmetall (daily, LME cash)	metric ton	15%	20%
cZINC Zinc	Westmetall (daily, LME cash)	metric ton	15%	20%
cTIN Tin	Westmetall (daily, LME cash)	metric ton	15%	20%
CBcBRONZE Bronze	Westmetall (daily, German price)	kg	15%	20%

Supply is capped at $25,000 per commodity at launch; the cap is raised as liquidity grows.

Reserve and coverage

Coverage = USDC reserve ÷ (circulating supply × oracle price). It is published live on the Reserves page. Because the Desk sells above and buys below the oracle price, round trips strengthen the reserve; a sharp price rise lowers coverage.

Prices are published by a dedicated key through the Desk, which updates its orders in the same transaction.

• Hourly and daily limits: a price is rejected if it moves too far from the reference prices of the current hour, the previous hour, or the day (see the table above).
• Distance travelled: the sum of accepted moves within an hour is capped, so a compromised key cannot move the price back and forth.
• Halt on rejection: a rejected price freezes the feed and the Desk withdraws its orders at once. Quoting resumes only after the price is confirmed on a second source and set by the guardian, then the market is resumed by the owner — two different keys.
• Staleness: an old price can no longer be read; orders are withdrawn instead of quoting it.
• Pause: the guardian can pause one or all markets at any time. Pausing withdraws orders; it never touches the reserve.

• Use official pools. Anyone can create another Uniswap pool with the same tokens, sometimes with a manipulated price. Each token page lists its official pools; on external terminals, check the pool address and fee tier.
• Check the contract. Compare the token address with its COMO page. COMO contracts are verified on the Arc and Robinhood Chain explorers.
• Set slippage. The site always sends a minimum amount received; low-liquidity tokens move fast.
• Tax tokens. Some aggregators misestimate amounts on taxed tokens. This site accounts for the tax.
• Beware of impersonation. The only official site is como.markets. COMO will never ask for your seed phrase or private key.

The contracts were reviewed in several independent passes, with every finding reproduced on a fork of Arc, fixed, and covered by regression tests. They have not been audited by an external firm.

• Custodial bridge. Minting on Arc and releases on Robinhood Chain are done by the keeper. If it stops, bridging stops.
• Smart contract risk. Contracts are tested and reviewed but not externally audited.
• Underlying custody. Vaults hold Robinhood stock tokens, which may be subject to issuer or compliance restrictions.
• Synthetic commodities. Not backed by the physical commodity. Buybacks are limited to each reserve. Prices depend on an oracle operated by COMO, with a delay versus real-time markets; if it stops or halts, the Desk stops quoting.
• Market risk. Launched tokens are highly volatile and can lose all their value.
• Thin liquidity. Pools can be shallow, especially right after launch.

Arc (chain 5042)

• CommodityLauncher0x246b55686078b41D318A99af1eC13d99b78B458e
• FeeLocker0x9fcF28F0457A5a2eCA108546E5A440A52a0B73b5
• GLD token0x5f33C1780a8491202985c814649E0567D037819f
• SLV token0xE5Cd899CB091b8Dbe9031a1098603193121cBBA4
• USO token0x09112d81F9094d4539847Ee56AEA9adA70f49Af0
• Uniswap SwapRouter020x53BF6B0684Ec7eF91e1387Da3D1a1769bC5A6F77
• Uniswap QuoterV20x7DfD4F31be6814D2906BDE155c3e1B146EAc1468

Robinhood Chain (chain 4663)

• GLD vault0x5f33C1780a8491202985c814649E0567D037819f
• SLV vault0x174631fdE773EE36633ab310bA812616b3D5168F
• USO vault0xE5Cd899CB091b8Dbe9031a1098603193121cBBA4
• GLD stock token0xC9a981FEE1F9DEc688bb123ccDeCc63D0deBFC4e
• SLV stock token0x411eFb0E7f985935DAec3D4C3ebaEa0d0AD7D89f
• USO stock token0xa30FA36Db767ad9eD3f7a60fC79526fB4d56D344