The curve

2.1pump.fun's constants

The curve is constant product, with the constants read from pump.fun's mainnet Global account. The supply, the virtual reserves and the tokens sold on the curve are pump.fun's; the raise and the market caps are derived from them.

Supply

1,000,000,000tokens

Decimals

6

Virtual SOL at the start

30SOL

Virtual tokens at the start

1,073,000,000tokens

Tokens sold on the curve

793,100,000tokens

Raised at graduation

85.005SOL

Market cap at the start

27.959SOL

Market cap at graduation

410.88SOL

2.2In the house token

A house config carries the curve expressed in its house token, at the house token's SOL price when the config is made. Its graduation threshold is about 85 SOL of house token.

A launch in any house starts at about 28 SOL of market cap and graduates at about 411 SOL, whatever its house token. Its progress toward graduation is the share of the 793,100,000 curve tokens sold. The SOL house carries the curve as pump.fun runs it.

2.3The launch token

Every launch token is an SPL token with Metaplex metadata, 1,000,000,000 supply and 6 decimals. Its metadata is immutable, and its mint authority is revoked at creation. Supply left unsold at graduation is burned.

2.4Keeping the curve the same

A curve config can't be changed once it is made. A keeper compares each house token's SOL price with the price its current config was made at. When the price leaves a ±20% band around it, the operator creates a new config at the new price and points the house at it with set_config.

New launches use the new config, and existing launches keep the config they were made on. Every house's new launches start and graduate at the same SOL value as the SOL house's.