Gem Fun launches testnet: how liquidity pools work — and where risks remain

Gem Fun launches testnet: how liquidity pools work — and where risks remain

A new Web3 platform, Gem Fun, has entered beta, introducing a model that combines bonding curves, mining, and automated liquidity deployment.
👉 hashcoin.farm

Instead of listing tokens directly on a DEX, tokens are first distributed via a bonding curve. Once the sale reaches its cap (~300M tokens), collected HASH liquidity is automatically deployed to a Uniswap V3 pool.

Each pool is formed between HASH and the new token. The contract sorts tokens, sets the initial price, and adds liquidity across the full range. LP tokens are burned, preventing rug pulls.

However, a key risk remains:
if an attacker creates the pool first, the contract may reuse it with an incorrect price. This can result in partial liquidity deposits and leftover “dust.”

Additional risks include mispriced launches and low-liquidity scenarios under weak demand.

Core protections are in place:
no token substitution, no repeated migration, and no unauthorized fund withdrawals.

Bottom line: Gem Fun’s model is structurally sound, but securing pool creation against front-run attacks is critical.