The long version, with proof.
Same coin. Same twelve wallets. Two outcomes.
A sniper bot, a bundle of four wallets funded by one person, and seven regular traders. Watch who pays what.
A normal launch
no fills yetThe coin goes live. Whoever's transaction lands first buys first.
On EVEN
no fills yetThe coin isn't trading yet. Everyone sends SOL to the program's vault, at the same price.
Better on every line that matters to you.
| EVEN | pump.fun | Entry | |
|---|---|---|---|
Same price for every buyer Being first buys nothing | |||
Your SOL held by a program Not by the team's wallet | — | ||
Bundles detected and refunded Linked wallets, even through hops | partial | ||
Full refund if the raise falls short | — | ||
Liquidity locked forever | |||
Dumping the first hour costs 30% fee, decaying | |||
Creator can't cash fees on a dead coin 24 h Dev Lock | — | ||
No copycat tickers Same ticker blocked for 24 h | — | ||
Live bundle score on every coin Bundle Meter, free | |||
Fees buy back and burn the coin itself Its own agent |
From each platform's public docs, November 2026. — means it doesn't apply or isn't published. Entry's per-wallet cap limits a bundle but doesn't detect it.
Written in the program. Not in a promise.
The same numbers on every coin. A creator can't change them, and neither can we.
ONE PRICE
1.0×
What the last wallet pays compared to the first. On a curve it is often 4×.
AT THE OPEN
PER WALLET
3%
The most of the supply any one wallet can end with from the launch.
EVERY ORDER
BUNDLES
1
Wallets per actor. Linked wallets past the first are struck and refunded.
BEFORE THE OPEN
REFUND
100%
Of your SOL back if the launch misses its minimum. No fee taken.
AT THE OPEN
SELL FEE
30% → 0.5%
Selling in the first hour costs up to 30%, decaying every minute.
FIRST HOUR
DEV LOCK
24 h
Before the creator can take any fee. A dead coin pays its creator nothing.
AFTER THE OPEN
Counted, not claimed.
Read from the devnet chain when the page loads. No projection, no estimate.
…
Wallets that ordered
Every one at its launch's single price
SOURCE: LAUNCH ACCOUNTS · 23:06 UTC
…
Bundled wallets struck
0 SOL sent back before the open
SOURCE: EXCLUDED EVENTS · 23:06 UTC
…
SOL refunded in full
Launches that missed their minimum
SOURCE: VAULTS · 23:06 UTC
…
Tokens burned by agents
Bought back with pool fees
SOURCE: BUYBACK TXS · 23:06 UTC
04 Coin agents
Fees buy back. Then burn.
Each coin's agent spends only its share of the pool fees, at most 1% of the pool every 10 minutes, and burns all it buys. The program sets those limits: the agent picks the moment and says why. Nobody can withdraw from it.
No action yet.
Don't trust. Verify.
Straight answers.
How is the price set?+
The price on a launch is the worst case, with the raise full. A smaller raise means a lower price, and every wallet gets the same one.
What if the raise falls short?+
Below the minimum at the open, every order is refunded in full and no pool is made. No fee is taken.
Who holds my SOL before the open?+
A vault owned by the program. Nobody can move it except the program's rules: tokens at the open, or your SOL back.
What gets a wallet struck?+
A proven link: the same funder (traced through up to four disposable hops), the same fee payer, or one wallet funding another. Exchanges don't count. The proof's hash is on chain.
Can the dev dump?+
The dev orders in the same book as everyone, gets at most 5% vesting over 37 days, and takes no fee before 24 hours. Liquidity can't be pulled.
What can the agent do?+
Collect fees and buy back and burn, at most 1% of the pool every 10 minutes. It cannot withdraw, sell or send anything.