How it works

Every coin is a regular pump.fun coin: same bonding curve, trades on pump.fun and every terminal, migrates to PumpSwap. Its on-chain creator is the coin’s own fee wallet, so pump.fun’s creator fees land there.

Every couple of minutes the creator fees are claimed. 80% fills the coin’s perps pot, 20% goes to the coin’s treasury, which buys back and burns the main coin on a fixed clock.

When the pot is full it is swapped to USDC, deposited to the coin’s own Raydium Perps account (Orderly order book) and opens a market position: the market, side and leverage the creator picked at launch. While it is open, the next pots add to it.

When the gain on the collateral reaches +100%, half the position is closed. The rest rides with a stop at the entry price, so a position that doubled can’t give the gain back.

Realised profit is withdrawn from Raydium Perps, swapped into the pair and used to buy the coin on its own curve or pool. Everything bought is burned on-chain.

If the position is liquidated the collateral is gone — it was only fees the coin earned, never holders’ money — and the next position takes the other side.

The live position (side, size, entry, mark, liquidation, PnL), the pot, deposits, take-profits, busts, withdrawals and every buyback and burn — each with its Solana transaction or Raydium Perps order id. Positions are leveraged: the collateral of a position can be lost in full.