> For the complete documentation index, see [llms.txt](https://wiki.orbofi.com/learn/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://wiki.orbofi.com/learn/create-and-customize/pairs.md).

# Pairs

Every AAC trades against a **numeraire** — the asset on the other side of its Uniswap V4 pool. You choose it at launch, and it's fixed for the life of the pool.

## Your options

* **ETH (WETH)** — the default. Deepest, most familiar quote asset; the agent's price and market cap denominate in ETH.
* **A tokenized stock** — pair against a tokenized equity (e.g. NVDA, AAPL) so the coin quotes and settles against that asset instead of ETH.

## Why the pair matters

The pair is the unit your coin is priced and its fees are paid in:

* it sets what **price and market cap** are denominated in;
* it determines the currency your **fees arrive in** — ETH-paired agents earn ETH, stock-paired agents earn that stock (see [Earn](/learn/create-and-customize/earn.md));
* it shapes the **audience** — a stock-paired agent sits naturally next to that equity's traders.

## Under the hood

Pairing is a real Uniswap V4 pool with a dynamic fee — no bespoke AMM. The pool key is uniform across every Orbofi agent; only the two currencies differ. Integrators read the numeraire per agent rather than assuming ETH, since stock pairs are common. Full mechanics for builders are in [Liquidity Layer](/learn/tokenization-liquidity-and-onchain-systems/liquidity-layer.md).

There's no bonding curve and no graduation: the pool exists from the launch transaction and stays there.


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