A life
A coin is launched with a lifespan: an hour, a day or a week. From its first block until that second it trades on its own curve. There is no migration to an exchange and nothing to graduate to: the curve is the only market the coin will ever have.
The curve
Every coin has a supply of 1,000,000,000 tokens, all of them on the curve at birth. The price follows a constant product of virtual reserves, the shape pump.fun uses: 30 SOL and 1,073,000,000 tokens to begin with.
price = SOL reserves ÷ token reserves, and SOL reserves × token reserves never fallsA buy adds SOL and takes tokens out; a sell does the reverse. The first tokens cost about 0.000000028 SOL each.
The fee
Each trade pays 1%: 0.5% to the protocol and 0.5% into the coin’s own pool, outside the curve. That half is paid to the holders at death, so every trade, including every sell, raises what the survivors receive. There is no creator fee and no launch fee; a launch costs the rent of the coin’s accounts and the network fee.
The death
At the date the program refuses every trade, whatever the price. Anyone can then settle the coin; this site does it within seconds. Settlement burns the tokens left on the curve, sets aside the egg if there is one, and fixes the payout. Nothing is snapshotted: redemption is the snapshot.
A holder burns tokens and receives, for each one:
SOL = payout ÷ tokens still out, and child tokens = egg tokens ÷ tokens still outThe payout is 90% of the pool if the coin laid an egg and all of it if it did not. The last person to redeem also receives the rounding dust. Tokens that are never redeemed keep their claim forever. If nobody holds the coin at the end, its pool (fees only, by then) goes to the treasury.
Death value
There is no oracle. The death value is what one token would receive if the coin died now:
death value = pool ÷ circulating supplyIt is always below the price. Without fees, death value = price × 30 SOL ÷ SOL reserves: the higher the curve has climbed, the smaller the share of the price a buyer gets back at death. Early holders are paid by late buyers; late buyers pay above the death value. The site prints both numbers side by side everywhere, and the trade panel shows what a buy would be worth if the coin died right after it.
One more consequence, stated plainly: selling before the date pays the current price, which is above the death value, so the first to sell leave with more than those who stay, and each such sale lowers the death value for everyone else. The pool fee and the egg are what reward holding to the end.
The egg
Before it dies, a coin can lay one egg. Its creator names the hatchling and picks its lifespan. At death 10% of the pool makes the hatchling’s first trade, at the curve’s first price, and the tokens it buys belong to the redeemers pro rata. Whoever held at the end holds the hatchling from its first block. One egg per coin makes every lineage a chain; generations are numbered from the first launch. See them on Lineage.
The program
| Program | MaykyLxyvLiHrWpzS5cCeiiMx7xJT3P5zDcEz1SUFeq on mainnet |
|---|---|
| Tokens | Token-2022, 6 decimals, metadata in the mint, no mint or freeze authority |
| Instructions | launch, buy, sell, lay_egg, settle, redeem |
| Admin | can pause new launches and set fees for future coins; cannot stop trading early, settlement or redemption |
What can go wrong
- You can lose most of what you pay. A buyer late in a coin’s life pays well above its death value.
- The program is new and has not been audited.
- The clock is the cluster’s. It can differ from yours by a few seconds; the countdowns on this site follow the chain.
- Anyone may launch a coin with any name and picture. A coin here is not endorsed by anyone it names.