The short version

• Every coin is paired with $HODL. To buy a coin launched here you pay in $HODL. So every launch, and every buyer, needs $HODL.
• Every trade pays a fee, and holders get it. pump.fun pays each coin a creator fee on every trade. Here that fee is not kept by the creator. It is sold for SOL and paid to holders.
• Your share follows how much you hold and for how long. A single score decides the split. Holding more raises it, holding longer raises it, selling lowers it.
• You are paid in SOL, to your wallet. Nothing to stake, lock, claim or sign.

Who earns what

Each coin's fees are split in two, every time:

The two are independent. Your score in a coin is about your holding of that coin. Your score in $HODL is about your holding of $HODL.

How pairing works

A coin on pump.fun trades against one other asset, its pair. For most coins that is SOL: you pay SOL to buy and receive SOL when you sell. pump.fun also lets a coin be paired with another pump.fun coin. Then you pay in that coin to buy, and receive it when you sell.

Every coin launched here is paired with $HODL. The choice is made at launch and stored on the coin by pump.fun. It is not a setting on this site that could be switched later.

The pair

buying flows down

$HODLPAIR

every coin here is bought with $HODL

1Coin 1Paired with $HODL

2Coin 2Paired with $HODL

3Coin 3Paired with $HODL

every new coin adds another branch, and another reason to hold $HODL

Each trade

1. 01A coin is tradedBought and sold with $HODL. pump.fun pays the coin a creator fee, in $HODL.
2. 02The fee is sold for SOLOn $HODL's own market, in small sales that do not push the price.
3. 03The SOL is paid to holdersSplit by score: how much each wallet holds, and for how long.

50% the coin's holders50% $HODL holders

The flywheel

Pairing turns each new coin into demand for $HODL:

1. 01

   A coin launches

   Its price is quoted in $HODL. Nobody can buy it with anything else.

2. 02

   Buyers need $HODL

   Whoever wants the new coin buys $HODL first, or already holds it.

3. 03

   $HODL sits in the coin

   What buyers pay stays in the coin's market as its liquidity, held in $HODL.

4. 04

   $HODL holders are paid

   50% of the coin's fees go to people holding $HODL, which is a reason to keep holding it.

The more coins launch and trade, the more $HODL is needed and the more fees flow to the people holding it. That is the whole design: one coin that every other coin leans on.

Buying and selling

A paired coin behaves like any other pump.fun coin. It starts on a bonding curve, the price rises as people buy, and when the curve fills it graduates to pump.fun's AMM and keeps trading there. It appears wherever pump.fun coins appear.

The only difference is the currency. Prices are in $HODL. pump.fun can route a purchase made with SOL through $HODL in a single transaction, so a buyer does not have to do two trades by hand.

A new coin's starting price follows $HODL's price at that moment, because pump.fun works out the size of the new curve from $HODL's live market.

Launching opens when $HODL goes live.

Where fees come from

On every buy and sell, pump.fun takes a trading fee, and a part of it is the creator fee: the cut pump.fun sets aside for whoever created the coin. The rate is pump.fun's, not ours.

Because a coin here trades against $HODL, its creator fee is earned in $HODL, not in SOL. And the creator of every coin here is not a person. It is a wallet made for that one coin, which exists only to pass the fees on.

Collect, sell, split, pay

A program called the keeper runs about once a minute. For every coin, each time, it does four things:

1. 01

   Collect

   The coin's creator fees are collected into the coin's own fee wallet, in $HODL.

2. 02

   Sell for SOL

   That $HODL is sold on $HODL's own pump.fun market, in sales small enough not to push the price.

3. 03

   Split

   50% of the SOL is for the coin's holders, 50% for $HODL holders.

4. 04

   Pay

   Each side is divided by score and sent to holders' wallets as SOL.

The keeper's own wallet pays every network fee along the way. Network fees are never taken out of what holders are owed.

How fees are sold

Selling $HODL for SOL moves $HODL's price a little, and a careless seller would hurt the very people being paid. So the keeper follows fixed limits:

• Sized to the market. If a coin's fees are larger than the market can take within the price limit, only the part that fits is sold. The rest waits.
• Checked before sending. Each sale is simulated first. If the real price comes in more than 1% worse, the sale is refused by the chain and nothing is sold.
• Retried, never dropped. Whatever was too small, or did not fit, stays in the coin's fee wallet as $HODL and is tried again a minute later. Nothing is lost by waiting.

One wallet per coin

Each coin has its own fee wallet, and only that coin's fees ever reach it. What it holds belongs to that coin and no other. Fees from different coins are never pooled before they are split, so there is nothing to untangle afterwards and no way for one coin's holders to be paid from another coin's fees.

The 50% that belongs to $HODL holders is moved from each coin's wallet to a separate pool wallet, and paid out from there.

The formula

Holders are counted about once a minute. At each count, for each wallet, take before (its balance at the last count) and now (its balance at this one):

1. if now < before:   score = score × (now / before)       a sell gives up its share
2.                    score = score × 0.5^(days / 7)         old score fades
3. held = min(before, now)
                      score = score + held × days × rate        held tokens earn
4. rate = 1 + 2 × (days held, up to 30) / 30               1x rising to 3x

Why it is built this way

• Amount and time both count. Score grows with tokens held multiplied by days held. Neither a big bag bought a minute ago nor a tiny one held for ever takes the pot.
• Only tokens held between two counts earn. Step 3 uses the smaller of the two balances. Tokens bought just before a count earn nothing for that minute, so there is nothing to gain by timing a buy.
• Long holders earn faster. A wallet's rate starts at 1x and climbs to 3x over 30 days of holding, then stays there.
• Nobody is locked out. Old score fades: left alone it halves every 7 days. So score measures recent holding, not everything since launch, and it has a ceiling. A wallet that has held for a year is not a year ahead of you.
• The count's timing does not matter. The maths gives the same answer whether holders are counted every minute or every hour, so a slow keeper does not change anyone's share.

How a score grows

One wallet buys 1,000,000 tokens and simply holds them:

The ceiling for 1,000,000 tokens is 30,296,596: the score it settles at if held for ever. A score means nothing on its own. It only matters next to the other wallets' scores in the same coin.

New holders catch up

Take a wallet that has held 1,000,000 tokens for a year, and a new wallet that buys the same amount today. If they were the only two holders, the new wallet's share of each payout would be:

Within two months they are level. Being early is an advantage for a while, not for ever.

Buying more

Buying more never costs you score. The tokens you already held keep everything they earned. The new tokens join at 1x, so the wallet's rate becomes the average of old and new, weighted by how many of each there are.

The score does not drop when the wallet buys. The rate dips because half its tokens are new, then climbs back as they age.

Splitting a bag

Every step of the formula is proportional to the balance. So the same tokens score the same whether they sit in one wallet or in ten:

There is nothing to gain by spreading tokens across wallets, and nothing to lose.

A worked example

A wallet has held 1,000,000 tokens for 30 days. Its score is 23,328,277 and it earns at 3.00x. It sells half, changes its mind, and buys the half back an hour later.

Same tokens, same wallet, one hour out of the position. A week later that round trip still costs the wallet 36% of its score, and so that much of every payout.

Why the cost is proportional

A harsher rule is easy to imagine: lose everything on any sell. It would not work. A holder could keep their tokens in several wallets and sell from one, leaving the others' scores untouched. The harsh rule would only punish people honest enough to use a single wallet.

Losing exactly the share you sold is the strongest penalty that cannot be dodged that way. It is the same whether you hold in one wallet or many.

Moving tokens

Moving tokens counts as selling. From the outside, sending tokens to another wallet looks exactly like a sale: the balance went down. The score for those tokens is given up, and the wallet that receives them starts from zero.

A payout, step by step

Say a coin's fees have just been sold for 1.0000 SOL. This is a made-up amount to show the arithmetic. First the split:

Then the coin's half is divided between its holders by score. With three of them:

Ada and Ben hold the same amount, but Ada has held six times longer and receives far more. Cy holds a quarter of what Ben does, yet has held long enough to earn more than him.

When you are paid

Each minute, the SOL in a coin's fee wallet that is not already owed to someone is split by score and added to what each wallet is owed. A wallet is sent its SOL as soon as it is owed 0.002 SOL in a coin.

• Smaller amounts stay owed and keep adding up. They are not lost and they do not expire.
• What you are owed is yours even if you sell afterwards. Selling changes future shares, not past ones.
• There is nothing to claim and nothing to sign. The SOL simply arrives.

Who is not paid

Only ordinary wallets earn. These hold tokens but have no score:

• A coin's bonding curve and its AMM pool. Liquidity does not take a share.
• Any other account owned by a program rather than a person.
• The fee wallets and the keeper's own wallet.

A coin's creator is treated like anyone else. If they hold their coin, their wallet is scored and paid by the same rules.

Where to see them

• Payouts lists every payment on the site, newest first, each with its transaction.
• Each coin's page shows how much has gone to its holders and to $HODL holders, and every transfer out of its fee wallet.
• Connect your wallet on a coin's page to see what you hold, your rate, your score, your share, what you have been paid and what you are still owed.

What you do

1. 01

   Fill in the form

   Name, ticker and image are required. A description, an X link and a website are optional.

2. 02

   Sign once

   The coin is created on pump.fun in a single transaction that your wallet signs.

3. 03

   It is live

   It trades on pump.fun's bonding curve, paired with $HODL, and appears on the tree here.

4. 04

   Holders are paid

   From the first trade, its fees are collected, sold for SOL and paid out.

You pay pump.fun's account rent and the network fee, in SOL. Keep about 0.03 SOL in your wallet. There is no launch fee here. Launch a coin.

The first buy

You can buy some of your own coin inside the launch transaction, so nobody can buy before you. It is paid in $HODL from your wallet.

• The amount you type is the most you will spend. The buy is sized up to 5% below it, to leave room for $HODL's price moving before the transaction lands.
• Your wallet has to hold that much $HODL already.
• The tokens you buy are scored like anyone else's.

What cannot change

• The pair. Your coin trades against $HODL for good.
• Where the fees go. They go to holders. You do not receive the creator fees, and there is no switch that sends them to you later.
• The name, ticker and image. They are written when the coin is created.