Docs

Overview

Pump² is a launchpad for pump.fun coins. A coin starts on Pump²'s own bonding curve, which runs pump.fun's math, under rules the creator picks at launch (hooks) and the program enforces on every trade. When the curve sells out, the program creates the coin on pump.fun and buys out pump.fun's curve with the SOL raised, so the coin graduates there as a real pump.fun coin with its canonical PumpSwap pool.

A coin can also launch Everywhere: on Meteora's curve instead, as a real token any app can trade from the first block. At the bond, Pump²'s bridge turns it into a real pump.fun coin the same way, and holders swap their Meteora tokens for it 1:1. The sections up to Creator earnings cover Pump²'s own curve; Everywhere launches have their own.

The curve

Each launch copies pump.fun's starting curve from pump.fun's own settings on chain. It's a constant-product curve over virtual reserves:

The math

A buy adds its SOL to the virtual SOL and takes its shares from the virtual tokens; a sell does the reverse. Amounts round in the curve's favour, like pump.fun. The last buy takes exactly the shares left and pays only what they cost.

Shares and tokens

Before the bond, the coin doesn't exist yet: you hold shares, recorded for your wallet in a position account. They can be sold back to the curve (unless the hooks say otherwise) but not sent to another wallet. At graduation the program buys exactly one pump.fun token per share sold, and each share is claimed as one token.

Fees

The platform fee, the reserve, the larger of the two taxes (with any grudge tax added to the buy tax) and the anti-snipe fee's starting rate can't add up to more than 60%. Fees come off the SOL first; the rest trades on the curve. A launch keeps the platform fee and reserve it was made with: if the launchpad's rates change later, only launches made after that pay the new ones.

Hooks

Hooks are set in the launch transaction and can't be changed afterwards by anyone, the creator included. The program checks the ones that apply on every buy, sell, claim and payout.

The one-price window

In the window, a buy pays its fees and the rest waits in a pool. When the window closes, the next trade (or anyone, with one call) buys the whole pool on the curve at once. Everyone in the window gets the same price per share, and shares in proportion to their SOL. The quote in the window is an upper bound: the more SOL joins, the fewer shares each SOL gets.

Combining them

• A one-price window and an anti-snipe fee don't go together: one price for all makes the falling fee pointless.
• Locked sells always come with a refund deadline, so buyers' SOL can't be stuck on a curve that never sells out.
• The refund deadline has to come after the one-price window.
• The whitelist and the one-price window can overlap: listed wallets pool their buys first.

Graduation

On this site, the buy that takes the last share also graduates the coin, in the same transaction. Otherwise the crank sends the graduation on its own within seconds of the curve selling out; anyone else can send it too. Whoever sends the graduation, the last buyer here included, gets 0.010 SOL from the reserve's leftover.

• The coin's creator on pump.fun is the launch's creator, so pump.fun's creator fees go to them, unless the coin has an after-bond hook or fee-split wallets: then it's the launch's vault, and the program shares the fees out.
• The reserve pays pump.fun's fees on the buyout; what's left of it, after the graduation reward, goes to the creator.
• Then the coin's canonical PumpSwap pool opens: the crank sends pump.fun's migration (which anyone may send) on its next pass, usually seconds after graduation. Until it's open nobody can trade the coin, and its page says the pool is opening. Tokens go out once it is.
• Once a curve sells out it takes no more sells: graduation comes next. A sold-out launch with locked sells that still hasn't graduated 2 days past its deadline, or any sold-out launch that hasn't graduated 7 days after selling out (say pump.fun was down), turns to refunds: the crank sends it, and anyone can press Turn to refunds on the coin's page.

From launch to PumpSwap, in numbers

One coin with no creator tax or anti-snipe fee, worked through with pump.fun's curve on this network and the launchpad's fees. The numbers on this page are computed live, so they stay current.

On the curve

It launches at a 27.96 SOL market cap. Shares sell on pump.fun's own curve, so each one costs what the token will on pump.fun:

Every buy pays 1% to the platform and 2% into the graduation reserve; every sell pays 1%. Raising 85 SOL on the curve takes about 87.6 SOL of buys: 1.75 SOL goes into the reserve and 0.88 SOL to the platform.

Graduation

• The 85 SOL buys pump.fun's whole curve: all 793.1M tokens, held for the holders. The market cap is 410.9 SOL.
• pump.fun's fee on that buy (about 1.25%, ~1.06 SOL) and rent come out of the reserve, and the sender earns 0.01 SOL. The rest of the reserve, about 0.67 SOL, goes to the creator.
• Part of that fee, 0.3% (~0.26 SOL), is pump.fun's creator fee, so it comes back to the coin's creator too: about 0.93 SOL of the reserve ends up with the creator. On a coin with an after-bond hook or fee-split wallets it comes through the vault and is shared out like any creator fee.

On PumpSwap

pump.fun moves the 85 SOL and the other 206.9M tokens into the coin's pool: about 67.4 SOL of real SOL, and about 17.6 SOL in the pool's boost vault, which counts toward the price but never comes out. The pool opens at the curve's last price, a 410.9 SOL market cap: no drop at migration. Shares turn into tokens one for one; nobody loses any. Until the pool opens, usually seconds after graduation, nobody can trade the coin.

What holders can take out

What 1 SOL bought at different points is worth after graduation:

Selling alone gets less than the price shows because a sale moves the price, more so for a big bag, and PumpSwap takes its own fee on every trade (pump.fun sets it; counted here as 0.3%).

If it doesn't graduate

• With locked sells, a missed deadline refunds everything but the platform fee: 1 SOL in, 0.99 SOL back (the creator's own anti-snipe fee isn't refunded either).
• Without locked sells, anyone can sell back on the curve at any time, at the curve's price less 1% and any sell tax.
• A coin that sold out but hasn't graduated 7 days later turns to refunds: the crank sends it, and anyone can press Turn to refunds on the coin's page. Without locked sells the curve's SOL and the reserve are shared by shares held, and early shares cost less, so the first 1 SOL in gets about 3.7 SOL back and the last 1 SOL in about 0.26 SOL.

Vesting

Without vesting, every share is claimable as a token at the bond. With it, a position covered by the vesting gets the unlocked part at the bond and the rest in a straight line over the vesting time:

Vesting can cover everyone, only the creator, or the creator and every wallet holding at least a set share of the supply (big wallets). The crank delivers unlocked tokens as they unlock; holders can also claim them on the coin's page or in Portfolio.

Refunds

A launch turns to refunds when:

• it has locked sells and its deadline passes before it sells out;
• it sold out with locked sells but couldn't graduate within 2 days of its deadline;
• it sold out but still hasn't graduated 7 days later (say pump.fun was down);
• the admin cancels it because it can't graduate (say pump.fun changed its curve).

The first three need no one's permission: the crank turns the launch to refunds as soon as it can, and anyone can press Turn to refunds on the coin's page.

With locked sells, each buyer gets back exactly the SOL they put into the vault: everything but the platform fee, the creator's tax and the reserve included (on these launches the creator's tax waits for the bond). The creator's own anti-snipe fee went to Pump², so it isn't refunded.

Without locked sells, the creator keeps the fees it earned, and the SOL left on the curve, with the reserve, is shared by shares held. Early shares cost less than late ones, so early buyers can get back more than they paid and late buyers less: on a coin that sold out and then turned to refunds, the first 1 SOL in gets about 3.7 SOL back and the last 1 SOL in about 0.26 SOL.

Refunds go out automatically, one position after another, and each position's rent goes back to its owner; there's also a Refund button.

After the bond

pump.fun keeps the curve-era creator fee in the bonding curve until it's swept to the creator, and PumpSwap keeps the pool's creator fees in its own vault. When the launch's vault is the coin's creator (an after-bond hook or fee-split wallets), the crank pulls both into it every 30 minutes and splits them: the hook's share stays for the hook, the rest is the creator's, shared with any fee-split wallets.

Buyback & burn

Holder rewards

Rewards go to the positions from before the bond, for the tokens they keep in Pump² (the vault), not for tokens in wallets: a bag moved between wallets can't collect twice. The program keeps a running total of rewards per token:

Only you can claim your tokens out on these coins (nobody can push them out for you), and doing so checks you in first, so what they earned is kept for you; they just stop earning after. The crank pays rewards out once a day once there's 0.01 SOL to share; you can collect yours any time on the coin's page or in Portfolio. If nobody is left in Pump² when fees come in, the hook's share goes to the creator.

Creator earnings

A fee split cuts each payout once, as the creator collects: each wallet's part is kept for it until it's paid, so nothing the creator does can shrink it.

Everywhere launches

An Everywhere coin trades on Meteora's Dynamic Bonding Curve before the bond. It's a real token from the first block, held in buyers' own wallets, so any app that trades Meteora coins can trade it. When the curve completes, Pump²'s bridge creates the coin on pump.fun, buys out pump.fun's curve with the SOL raised, and holds those tokens for holders to swap 1:1.

The curve

Each Everywhere coin gets its own Meteora settings. Buyers put 100 SOL into the curve (after its fee) for 761.5M of the 1B tokens, and the curve ends on pump.fun's final price. That's 3.5 SOL more and 7.5M tokens fewer than an exact fit, which is the bridge's slack (see the bridge). A creator allocation comes out of the tokens sold.

The settings make Pump²'s vault for the coin Meteora's partner: it gets all of the liquidity when the curve completes, 10% locked for good and 90% for it to withdraw, and any SOL left on the curve. Meteora's own cut of the liquidity at that moment is at most 1% (0.2% today). Pump² refuses to register a coin whose settings say anything else.

Fees

Pump² takes no fee on trades before the bond. Its only income from an Everywhere coin is its half of the bridge's leftover.

Everywhere: rules

Meteora's own

These live in the coin's Meteora settings, so Meteora applies them on every trade, whatever app sends it. Pump² checks their bounds when it registers the coin, and nobody can change them after.

Pump²'s transfer hook

An Everywhere with Pump² hooks coin is a Token-2022 token on Meteora's transfer-hook curve. Token-2022 calls Pump²'s hook program on every transfer of it, and the hook refuses any that break the coin's rules. A transfer out of the curve's vault is a buy, one into it is a sell, and anything else is a wallet-to-wallet move, refused until the bond. In the swap that completes the curve, Meteora switches the hook off for good, so the migration, the bridge and the 1:1 swap run as for any token.

• The rules are written when the coin's settings are made, signed by the coin's own mint key, so nobody else can set them, and nobody can change them after.
• The hook keeps a small record for each holder's token account (its last buy, recent sells, a grudge, its whitelist place and pass). Pump²'s buys open it; for traders who came from another app, the crank opens one within seconds and pays its rent. On a coin with a hold time, sell cap or grudge, a sell with no record is refused until it exists, and the hold time counts from when it was opened.
• Every record's rent (about 0.002 SOL) goes back to whoever paid it after the bond, when the crank closes them.
• Before the bond, buys must land in the buyer's own token account. Routers that pass the tokens through their own accounts are refused, so Jupiter's main router won't trade the coin; Axiom, GMGN, Phantom, OKX and others send to the wallet and work.
• Like our own curve's caps, the rules apply per wallet: one person with many wallets gets around wallet caps and buy limits.

Everywhere: the bridge

• When the curve completes, Meteora moves its liquidity to a DAMM v2 pool (on mainnet Meteora's own keeper gets a 30-second head start, then the crank sends it). The bridge follows at once; anyone can send either step.
• The withdrawal and the buyout are two instructions in one transaction: the withdrawal checks that the buyout comes next, so the liquidity can only leave the pool to buy out pump.fun's curve.
• The two steps can't share a transaction with Meteora's move, so a few trades may hit the new pool in between. The curve's slack absorbs 3 SOL of that either way; past it, the bridge rebalances on the pool in the same transaction, up to about 7 SOL either way.
• It fails unless there's a pump.fun token in the vault for every Meteora token left, the creator's locked allocation included.
• With an after-bond hook or fee-split wallets the vault becomes the pump.fun coin's creator, so its creator fees come back through the program; otherwise the coin's creator is the launch's creator.

Swapping 1:1

After the bridge, any holder can swap any amount of Meteora tokens for the pump.fun coin on its page, any time: the Meteora tokens are burned and as many pump.fun tokens come out of the vault. There's no snapshot and no deadline. Since the 10% locked pool keeps trading the old token for good, anyone who buys it there can swap it too; the coin's page warns people not to.

After the bond

An Everywhere coin can have the same after-bond hooks as our own curve's coins, with the same caps: buyback & burn with a share of its creator fees (tokens it buys are burned, never the ones kept for the swap), and a fee split with up to three wallets. Holder rewards aren't available, since the tokens move freely after the bond and one bag could collect again and again.

The crank

Every step after launch can be sent by anyone. Pump² runs a crank that sends them for everyone every few seconds, with a priority fee so they land when the network is busy:

Limits

Accounts and addresses

Glossary

Bond, graduation

The moment a curve sells out and the coin is created on pump.fun.

Bonding curve

The pricing rule a coin trades on before the bond: price rises as SOL comes in.

Hook

A rule set at launch that the program enforces, like a wallet cap or a refund deadline.

Share

What you hold before the bond; one share becomes one token.

Vault

The launch's own program account that holds its SOL, then its tokens.

PumpSwap

pump.fun's AMM, where graduated coins trade.

Creator fees

pump.fun's fee to a coin's creator on every trade of the coin.

Crank

The service that sends the steps anyone may send, for everyone.

Everywhere

A launch on Meteora's curve, tradable in any app before the bond, bridged to pump.fun at it.

Meteora's curve

Meteora's Dynamic Bonding Curve, where Everywhere coins trade before the bond.

Bridge

Pump²'s step that turns a completed Meteora curve into a pump.fun coin.

Swap 1:1

Trading a Meteora token for its pump.fun coin after the bridge: any time, any amount.

Transfer hook

Pump²'s program that Token-2022 runs on every transfer of a hooked Everywhere coin, until the bond.