Fables $PROLOGUE

Revenue basis

DefiLlama attributes fees to the Fables protocol and shows no revenue line. Our audit found that PROLOGUE launched through Uniswap's own Liquidity Launcher, and no Fables contract appears anywhere in its launch or fee path, so those fees do not reconcile to this token's pool. Nothing is captured by a treasury and nothing reaches holders.

The token is clean and the liquidity is locked. The entire case rests on a redemption promise that exists only as a sentence in the token's metadata.

Launch screen COORDINATED

30 origins took 47.7% of supply in the first 18 seconds; 16 of them fall into five same-block identical-gas identical-amount groups (27% of supply), two groups share a first token funder. 28 of 30 have sold. Signer bought 5% atomically and still holds it.

Method: replay from mint, decode every swap in the first 50 blocks after the first pool, group same-block buys by gas price and amount, trace first token funding. Timing and gas never prove common ownership on their own.

Token audit (ours) GO-WITH-CONDITIONS

The PROLOGUE token is unusually clean: no owner, admin, pause, mint or burn function, not a proxy, fixed supply, and the launch position holding the entire supply sits in Uniswap's zero-admin fee splitter, which has recorded 161 liquidity additions and zero removals across its whole life. A $5,000 sale quotes 1.11% impact and real sells six times that size settle on chain, though 1% of supply costs 21.78%. The condition is that the entire investment case rests on one sentence in the token's own metadata promising a redemption for a governance token at a fixed ratio, with no redemption code, no ratio, no date, no escrow and no governance token in existence.

• A-1: The runtime holds 25 selectors and none is an owner, admin, pause, mint, burn, cap or blacklist function
• A-2: All proxy slots read zero and the runtime contains no DELEGATECALL, so there is no upgrade authority
• A-3: The canonical ETH/PROLOGUE pool carries hook address zero, so no Fables hook can price, tax or block swaps in it; of 106 PROLOGUE pools, 99 are hookless
• A-4: The v4 protocol fee on the canonical pool is 0.04% each direction, set by a controller owned by a plain account and changeable in any block up to the v4 cap of 0.1%
• A-5: The Fables Access Manager, Pool Registry, Creator Fee Distributor and nine hooks could not be resolved to addresses because the docs render client side, recorded as a coverage limit that does not touch the hookless canonical pool
• B-1: The LP position holding 100% of supply was minted to the launch strategy and transferred in the same transaction to Uniswap's fee splitter, a zero-admin custodian whose positions are irrecoverable by design
• B-2: A gap-free replay over 17.9M blocks shows 323 events on that position, 161 additions and zero removals, with liquidity growing 32% because fees compound back into it
• C-1: A $5,000 sale is 1.11% impact, 1% of supply 21.78%, and 5% of supply 58.47%
• C-2: A real sell of 0.149% of supply settled for 4.95 ETH, and 1,351 sells cleared in the last 400,000 blocks
• D-1: A full replay of 372,891 transfers reconciles to exactly 100.00% of supply and finds 7,767 holders; the largest is the launch signer at 5.000%, top 10 non-pool holders at 18.67%
• E-1: The launch signer is the wallet named in the verification token embedded in PROLOGUE's own metadata; it bought 5.000% atomically inside the creation transaction and still holds exactly 50,000,000
• F-1: The splitter routes 40% of ETH fees to a creator vault and the rest back into the locked position, so no fee stream reaches PROLOGUE holders and there is no Fables protocol take on this pool
• G-1: The only enforceable holder rights are transfer, approve and permit; the redemption promise has no claim, redeem, burn, mint or escrow function anywhere in the runtime

Pinned 2026-09-07. Surfaces: A controls, B liquidity custody, C sellability, D concentration, E launch, F fees, G rights, H dependencies. A critical on any surface caps the verdict.

Professional audit no audit found

Contracts

Data sources