PHERA is a decentralized exchange and token launchpad deployed on Robinhood Chain, an EVM-compatible Ethereum Layer-2 built on the Arbitrum Orbit stack. The protocol has three components: PheraDEX, a concentrated-liquidity market maker (CLMM); a token launchpad where new tokens are created on bonding curves and graduate into PheraDEX liquidity pools once they raise 2 ETH-equivalent in their quote asset; and a public software development kit (@phera/sdk, published on npm under the MIT license) through which third-party developers can build launch applications on the same contracts without registration or API keys. PHERA is the protocol's native token, with a fixed supply of 10,000 tokens reduced to an effective supply of approximately 8,500 after a verifiable on-chain burn at the close of its token generation event. A 0.40% share of PheraDEX pool trading fees accrues to an on-chain reserve used to buy back PHERA and burn it to the dead address.