A range, not a promise.

How a sale fills

Choose a range entirely above the current Stock Token price in USDG. Your deposit is initially one-sided. As trades cross the range, the pool converts Stock Tokens into USDG. Full conversion requires crossing the entire band, not just touching its start.

The contract owns the Uniswap position NFT and records your wallet as the fixed owner. After a full cross, anyone can call completion. The position is removed and principal plus fees go directly to that owner.

Before withdrawal, a price reversal can undo part or all of the fill. Automated completion depends on a funded, functioning keeper and successful network transactions. You may also complete manually.

Fees & price units

Perch charges no protocol fee. Uniswap pool fees and transaction gas still apply. Fee income depends on actual swaps, active liquidity share, price path and protocol settings; it is not an APY guarantee. Accrued fees may be in both tokens.

Prices and ranges are USDG per raw Stock Token, not a promise of US dollars per share. USDG can depart from its dollar peg. ERC-8056 corporate-action multipliers change how raw tokens map to underlying shares; the stored raw-token tick range does not automatically adjust. The app shows the multiplier separately.

Creation checks the current pool tick against your quote and requires a single-sided range. Your recorded minimum USDG output is enforced against principal on automatic completion. A very high minimum can prevent completion; owner cancellation or NFT release remains available.

Owner controls

• Create: approve only the required amount; unused deposit is refunded and the manager allowance is cleared.
• Complete: anyone may trigger after a full fill, but cannot redirect funds or lower the recorded output floor.
• Cancel: owner-only exit into the current token mix, subject to the owner’s selected output minima and deadline.
• Release NFT: owner-only escape to manage the original Uniswap position independently. This disables Perch automation for that order.

The Perch manager has no administrator, upgrade path, pooled vault shares or arbitrary asset-withdrawal function. This does not remove risks in Uniswap, the asset issuer or wallet permissions.

Risks & limitations

Contracts are unaudited. Test success is not an independent security audit. Prices can move through or back out of the range before a keeper acts. Thin liquidity, manipulation, issuer transfer restrictions, RPC outages, gas costs and smart-contract defects can cause losses or failed execution.

No order has guaranteed execution timing or profitability. Price movement below the entry range still exposes you to the Stock Token’s losses. A sale may underperform simply holding during a rally. No leverage or borrowing is included.

Deployment

Mainnet uses verified canonical asset addresses.

Perch product contract

0x3ab33cd5b18370384a78162fd7990dab50263f5e

Uniswap position manager

0x73991a25c818bf1f1128deaab1492d45638de0d3

Product contract and any later Perch project-token contract are different addresses.