Launches

The launchpad hook

The launchpad is itself a pool hook. It runs the sniper fee, the creator fee, the holder fee and the burn on every swap of a launch pool.

Supply and the curve

Every launch mints 1,000,000,000 tokens; 75% are sold on the curve, and it graduates at a fixed SOL raise. The curve’s liquidity is locked for ever: nothing compounds into it, so a launch graduates when its reserve reaches the raise or its curve sells out. A buy of more than the curve has left buys the rest and graduates it; the SOL it does not use stays in the wallet.

On every swap

Before every swap it sets the LP fee: 0.3%, or in the first 30 seconds a fee that starts at 80% and falls linearly to 0.3%. It goes to Mintvelocity in SOL: from a buy’s SOL before the curve, from a sell’s after it.

A buy: before the curve, the creator fee and (while holders hold enough) the holder fee, from the SOL in, as cuts to the launch’s SOL holding and the holder vault; after the curve, the burn from the tokens out. A sell: before the curve, the burn from the tokens in; after it, the creator and holder fees from the SOL out. The DEX holds its quarter of those two fees back from the delivery. The creator’s own first buy, into the creator’s wallet inside the sniper window, pays the normal LP fee instead of the sniper fee, once.

Extra accounts

index 5  launch              writable
index 6  launch SOL holding   writable   creator fees are paid here
index 7  holder vault          writable   holder fees are paid here
index 8  kit config          read      for the holder-fee threshold

Graduation

A separate, permissionless instruction. It tops the pool up from the reserve so the price does not move when the virtual reserves are dropped, burns the rest, and the DEX mints the first LP to the launch, which has it locked for ever.