How Pump² works
Coins trade on a curve first, under rules nobody can change, then graduate as real pump.fun coins. The curve can be Pump²'s own, or Meteora's, so every app can trade the coin from the first block.
Three ways to launch
- Where it trades
- On Pump² only
- What you hold
- Shares, recorded for your wallet
- Its rules
- Every hook
- Raise to graduate
- ~85 SOL (pump.fun's curve)
- At the bond
- A real pump.fun coin; shares become tokens
- Where it trades
- Any app: Axiom, GMGN, Phantom, OKX, Jupiter and others
- What you hold
- Meteora tokens in your wallet
- Its rules
- Meteora's own: anti-snipe and volatility fees, a locked creator allocation
- Raise to graduate
- 100 SOL
- At the bond
- A real pump.fun coin; tokens swap 1:1
- Where it trades
- Axiom, GMGN, Phantom, OKX and others; not Jupiter's main router
- What you hold
- Meteora tokens in your wallet
- Its rules
- Meteora's own, plus Pump²'s rules in a transfer hook
- Raise to graduate
- 100 SOL
- At the bond
- A real pump.fun coin; tokens swap 1:1
Steps 1 to 4 below are a coin on Pump²'s own curve; Everywhere coins come after.
On Pump²'s curve, in four steps
Pump² runs the same constant-product curve as pump.fun, so a share costs exactly what the token would cost there. The difference is what happens on the curve: the creator picks hooks, rules the program enforces on every trade, and the coin only exists on pump.fun once its curve has sold out.
Launch with hooks
Pick a name, ticker and picture, then the rules. Start from a preset and fine-tune it, or build your own.
The coin opens at a market cap of about 27.96 SOL. Launching costs only the network fees and rent; you can make the first buy in the same transaction, so nobody gets in ahead of you. Whatever you choose is permanent once the coin is live.
Trade on the curve
Before the bond, buyers trade shares on the coin's curve. It sells 793,100,000 shares for about 85 SOL, the same as a pump.fun curve.
Every buy pays a 1% platform fee and puts 2% aside for pump.fun's fees at graduation; the creator's tax and any anti-snipe fee come on top. Try the sliders:
The hooks
- Scheduled open
- Pick the minute trading starts, up to a week ahead, so everyone gets the same start.
- One-price window
- Buys in the first minutes are pooled and filled at one price when the window closes.
- Anti-snipe fee
- A fee on the first trades that falls to nothing within the window, and goes to the creator (the creator's own trades pay it to Pump²).
- Whitelist
- Only the wallets you list can buy at first; then it opens to everyone.
- Holders only
- Only wallets holding a token you pick, like an NFT or a community coin, can buy.
- Creator's block
- Nobody but you can buy in the launch's first block.
- Anti-bundle
- At most a few buys land in each block, so a bundle of side wallets gets only the first few.
- Sniper-fee cap
- Buys that pay big priority fees or tips are refused for the first minutes.
- Rising wallet cap
- The wallet cap starts small and opens up over time, so snipers can only grab a little.
- Wallet cap
- No wallet may hold more than a set share of the supply before the bond.
- Biggest buy
- The most SOL one buy may spend.
- Hold time
- No selling within a set time of buying.
- Dev lock
- The creator's wallet can't sell before the bond.
- Graduate or refund
- Nobody sells on the curve; if it doesn't sell out by the deadline, everyone gets their SOL back.
- Buy and sell tax
- Up to 5% of each buy and each sell, to the creator.
- Sell cap
- Nobody sells more than a set share of the supply in one block; big bags can get a smaller cap.
- The Grudge
- Dump a big part of your bag and buying back costs more for a while, or isn't allowed.
- Vesting
- Part of the tokens at the bond, the rest over days, for everyone, the creator, or the creator and big wallets.
- Buyback & burn
- A share of the coin's pump.fun creator fees buys it back and burns it.
- Holder rewards
- A share of those fees goes to holders from before the bond, for the tokens they keep in Pump².
- Fee split
- Up to three wallets get a fixed part of everything the creator earns, pump.fun creator fees included.
Two ways to stop snipers
On a plain curve the first buyer gets the best price, and the first buyer is usually a bot. The one-price window takes that edge away: every buy in the window gets the same price.
The anti-snipe fee makes the first seconds expensive instead, and pays the creator for it. The creator pays it too: on its own trades the fee goes to Pump², so its opening buy costs the same as anyone's:
Graduate to pump.fun
When the last share sells, at a market cap of about 410.9 SOL, the coin is created on pump.fun and its curve bought out: in the same transaction when the last buy is made here, otherwise within seconds.
The coin's PumpSwap pool opens next, usually seconds later. Until it's open nobody can trade the coin, and its page says the pool is opening.
Shares turn into tokens one for one. With vesting, part of them unlock at the bond and the rest over time, for everyone, just the creator, or the creator and big wallets:
After the bond
A graduated coin trades on pump.fun and PumpSwap like any other, and earns pump.fun creator fees. An after-bond hook puts those fees to work, and a fee split shares them.
Holder rewards: shared over the tokens holders keep in Pump².
Buyback & burn buys a little at a time: one buy every 10 minutes, each at most 1 SOL and at most 0.1% of the pool's SOL, so nobody can make it overpay. It can also wait for dips. Tokens it buys are burned.
Holder rewards go to everyone who held before the bond, for the tokens they keep in Pump². Claim your tokens whenever you want; the ones you take out stop earning, and what they earned stays yours.
| Holder | 1st SOL | 2nd SOL | Total |
|---|---|---|---|
| A keeps 100M here | 0.5000 | 0.6667 | 1.1667 |
| B keeps 50M, then claims them out | 0.2500 | 0.0000 | 0.2500 |
| C keeps 50M here | 0.2500 | 0.3333 | 0.5833 |
Everywhere: trade on every app
An Everywhere coin starts on Meteora's curve instead of ours. It's a real token from the first block, so Axiom, GMGN, Phantom, OKX and other apps can trade it, and it still graduates as a real pump.fun coin.
The curve raises 100 SOL. Every trade on it pays Meteora's 1% fee: 80% to the creator, 20% to Meteora. Pump² takes nothing before the bond. Holders keep real Meteora tokens in their own wallets, and can move or sell them like any token, unless the coin's rules say otherwise.
Its rules
Every Everywhere coin can use Meteora's own, which live in its Meteora settings, so Meteora applies them on every trade, in any app:
- Trading fee
- 1% of every trade on the curve: 80% to the creator, 20% to Meteora. Pump² takes nothing before the bond.
- Anti-snipe fee
- Starts high when the coin opens and steps down to the 1% trading fee, fast at first or in a straight line. Buys and sells pay it, paid like the trading fee. The creator's first buy, sent with the launch, pays 1%.
- Volatility fee
- Adds a little to each trade while the price swings hard, paid like the trading fee.
- Creator allocation
- Tokens minted for the creator and locked with Jupiter Lock when the curve completes: part unlocked then, the rest daily. Claimed on Meteora, then swapped 1:1 like anyone's. The curve sells that many fewer tokens, so every token still has its pump.fun coin.
Everywhere with Pump² hooks adds Pump²'s own rules. The coin is a Token-2022 token that runs Pump²'s transfer hook on every transfer, whichever app sends it, until the bond, when Meteora switches the hook off for good:
- Scheduled open
- No trades before the time set; then everyone starts together. No first buy with it.
- Creator's block
- Nobody but the creator can buy in the second the coin opens.
- Whitelist
- Only wallets the creator listed can buy until the window ends.
- Holders only
- Only wallets that registered a pass on Pump², holding a set amount of a token the creator picks, can buy. The token is checked when the pass is registered.
- Anti-bundle
- At most this many buys in one block, anyone's.
- Biggest buy
- The most SOL one buy may put into the curve.
- Wallet cap
- No wallet may hold more than this share of the supply.
- Rising wallet cap
- The cap starts where it's set and rises every so often, by a step or doubling.
- Sniper-fee cap
- Buys paying more than the caps in priority fee or tips are refused. Tips sent from another transaction, or from inside a router's program, can't be seen.
- Sell lock
- Nobody can sell until the bond, or until a time after the open. With no refunds: if the curve never completes, the SOL stays in it.
- Dev lock
- The creator's wallet can't sell until the bond, or until a time after the open.
- Hold time
- A wallet can't sell within this long of its last buy.
- Sell cap
- The most one account may sell in one block, as a share of the supply; several sells in one block count together.
- The Grudge
- A wallet that sells a set share of its bag within 24 hours can't buy for a while, optionally longer each time.
- No transfers
- Tokens can't move wallet to wallet before the bond, so none of the above can be dodged by moving them. After the bond the coin moves freely.
Jupiter's main router won't trade a hooked coin before the bond; most other apps do. Our own curve's one-price window, buy and sell tax, refunds, buyers' vesting and holder rewards aren't available on Meteora's curve.
The bond and the bridge
When the curve completes, Meteora moves its liquidity into a pool: 10% locked there for good, 90% for Pump²'s vault to withdraw. Then Pump²'s bridge, in one transaction, turns it into a pump.fun coin:
After the bond the coin trades on PumpSwap and earns pump.fun creator fees like any graduated coin. It can use the same after-bond hooks as our own curve's coins: buyback & burn with part of those fees, and a fee split with up to three wallets. The locked Meteora pool's trading fees go to the creator too.
What you can count on
- Rules nobody can changeHooks are fixed at launch and checked by the program on every trade.
- SOL nobody can takeUntil graduation it sits in the launch's own vault, which only the program's rules can move.
- A real pump.fun coinCreated with pump.fun's own program, with its canonical PumpSwap pool and creator fees.
- Nothing waits on usEvery step after launch can be sent by anyone, not just Pump²'s crank.
- A pump.fun coin for every tokenAn Everywhere coin only graduates if every Meteora token left can swap 1:1 for its pump.fun coin.
- Rules every app must followOn a hooked Everywhere coin, Pump²'s transfer hook checks every transfer, whichever app sends it.
Questions
Is it a real pump.fun coin?
Yes. At graduation the coin is created with pump.fun's own program and its curve is bought out, so it has a pump.fun page, its canonical PumpSwap pool and pump.fun creator fees, like any coin that graduated there.
What do I hold before the bond?
On Pump²'s own curve: shares, recorded by the program for your wallet. Each share becomes one token at graduation. Shares can be sold back to the curve (unless the coin's hooks say otherwise) but not sent to another wallet. On an Everywhere coin: real Meteora tokens in your wallet, each swapping for one pump.fun token after the bond.
What if it never sells out?
On Pump²'s own curve: without locked sells it stays open like any pump.fun curve, and you can sell whenever you want. With locked sells there's always a deadline: miss it, and buys stop and everyone is refunded everything but the platform fee. An Everywhere coin has no refunds: it stays on Meteora's curve, where you can sell any time, unless its Pump² hooks lock sells until the bond.
What if it sells out but can't graduate?
Then it turns to refunds 7 days after selling out (with locked sells, 2 days past the deadline if that comes first): the crank does it, and anyone can press Turn to refunds on the coin's page. With locked sells you get back everything you put in but the platform fee. Without, the SOL is shared by shares held, so early buyers can get back more than they paid and late buyers less.
Can the creator change the rules?
No. Hooks are written when the coin launches and the program checks them on every trade. Nobody can change them, the creator included.
Where is the SOL before the bond?
In the launch's vault, an account of the program that nobody holds a key to. Only the program's rules move it: into pump.fun at graduation, or back to buyers in refunds.
When do I get my tokens?
Once the coin's PumpSwap pool is open, usually within a minute of graduation; the site also has a Claim button. Vesting coins unlock over time. On holder-rewards coins only you can claim yours, when you want, since tokens kept in Pump² are the ones that earn.
Who sends graduation and the payouts?
Pump²'s crank sends them for everyone, every few seconds. None of it needs permission, though: anyone can send any of these steps, so nothing depends on us being online.
Only on Pump² or Everywhere: which should I pick?
Only on Pump² gives you every hook, refunds included, but the coin trades only here until the bond. Everywhere makes it a real token from the first block that any app can trade. Plain Everywhere keeps to Meteora's own fees and allocation and even Jupiter routes it; Everywhere with Pump² hooks adds most of our rules, enforced in every app, but Jupiter's main router won't trade it until the bond.
What happens to my Meteora tokens at the bond?
Nothing until you swap them. On the coin's page, each one swaps for one pump.fun token, any time, with no snapshot and no deadline. The program won't graduate a coin unless there's a pump.fun token waiting for every Meteora token left.
Why does the old Meteora token still trade?
Meteora keeps 10% of the liquidity locked in a pool for good, so the old token keeps a market there. It isn't the coin anymore: don't buy it. If you hold some, swap it 1:1 for the pump.fun coin on its page. That pool's trading fees go to the creator.
Isn't taking the liquidity out a rug?
No. The 90% that comes out goes straight into buying out the pump.fun curve, in the same transaction. Only what the buyout doesn't need, about 3.7 SOL on a 100 SOL raise, is left over, split between the creator and Pump². The program checks there's a pump.fun token for every Meteora token before it lets the bridge finish.
Do Pump²'s rules work on Axiom or Phantom?
On an Everywhere with Pump² hooks coin, yes. Token-2022 runs Pump²'s transfer hook on every transfer, whichever app sends it, so a sell before the lock opens or a buy over the cap is refused there too. Traders who never used Pump² get a Pump² record opened for them within seconds; on a coin with a hold time, sell cap or grudge, their sells wait for it.