HOW IT WORKS
- List a block. Any holder of a pump.fun coin moves a block of tokens into the desk for a window of 15 to 60 minutes, at a discount of 3% to 20%. The tokens sit in the block's own vault, not on the curve.
- The pool fills. During the window anyone deposits SOL into the block, with an optional most-I-pay limit. Nobody knows the final price yet.
- The samples. About once a minute, at an unpredictable second, the keeper reads the coin's live price on its venue (the pump curve, or the PumpSwap pool after migration). If the keeper is silent for 90 seconds, anyone may take the sample.
- The price. After the window:
median of all samples x (1 - discount). One spike cannot move a median. - The cancel rule. The block is cancelled and every deposit refunded when fewer than 80% of the expected samples were taken, when the median of the last third of the window differs from the first third by more than 15%, when the value at the median is above the cap of the lowest pool reserve seen, or when the price is under the seller's floor.
- The fill. More SOL than the block is worth: every buyer fills pro rata and gets the change back. Less: every buyer fills in full and the unsold tokens go back to the seller.
- Vesting. Bought tokens unlock linearly, one step every hour, over 12 to 72 hours. The keeper pushes them to buyers; the Claim button takes whatever is open.
- The seller is paid in SOL when the window settles, minus the desk fee.
THE HONEST-SELLER LOCK
At listing the seller may lock at least 90% of the tokens that stay in the wallet. The lock is a separate account of the block and opens only after the buyers' vesting ends (or at a cancel). The crate gets a gold seal and the seller a line in the Honest hall. It is on chain, not a promise.
FEES AND MONEY PATHS
SUPPORT BUYS
The 8% of an own coin's creator fee goes to its support bucket. While a block of that coin is in its window, the bucket buys the coin one chunk per new sample and burns every token bought. After 14 days without a window it buys one small chunk a day. Buys are guarded: fresh price observations, a spread limit, a median minimum out, a depth cap of 0.5% of the curve (0.25% of a pool), one buy per slot.
There is no other money path: no withdraw from any block, vault, lock or bucket by the admin.
PARAMETERS
| parameter | bounds | now |
|---|---|---|
| discount | 3% - 20% | seller picks |
| window | 15 - 60 min | seller picks |
| vesting, linear hourly | 12 - 72 h | seller picks |
| max move first vs last third | 5% - 25% | 15% |
| sample coverage | 60% - 100% | 80% |
| block value cap, per 15 min of window | 5% - 25% of the pool's SOL | 10% |
| honest-seller lock | 50% - 100% of the rest | 90% |
| desk fee, external coins | 1% - 2% | 1.5% |
| min deposit | 0.01 - 1 SOL | 0.05 SOL |
| launch fee | 0 - 0.1 SOL | 0.02 SOL |
| smallest block | 0% - 5% of the pool and 0 - 1 SOL | 1%, 0.1 SOL |
| samples per window | up to 80 | 1 a minute |
| settle deadline | 24 h after the window | then cancel |
The value cap is checked at listing and again at settle against the lowest pool reserve seen during the window. Parameter changes wait 24 hours and apply to future blocks and coins only.
TRUST
- Program DskGb...utvqSK. Every number on this site is read from it.
- The keeper only controls the timing of samples. It cannot pick a price (the median of public venue reads), cannot write a sample next to a trade in the same transaction, cannot redirect a refund or a push (payees are fixed in each position). Silent keeper: anyone samples after 90 seconds, or the block cancels to refunds. The admin can revoke the keeper at once.
- The admin can pause new blocks, deposits and launches (never refunds or vesting), change parameters for future blocks after 24 hours, and rotate roles after 3 days. No path to any escrow, vault, lock or bucket.
- Platform risks: pump.fun can change a coin's creator (set_creator / admin takeover); the programs involved are upgradeable.
- Tokens that cannot be held safely are refused at listing: mints with a freeze authority, a transfer fee or a transfer hook.