Houses
Every token on Solana gets one house: the launchpad whose launches are priced and bought in that token.
1.1What a house is
A house is the launchpad for one token. Its address is a PDA derived from the token's mint with the seeds ["house", quote_mint], so each token has exactly one house and nobody owns it. A house can't be sold, captured or moved away from its token.
A house keeps the curve config its new launches are made on, the parent house it grew from when it opened through lineage, and running totals of what it has burned and sent to the protocol. Its burns and its locked liquidity stay with its token.
1.2The house token
The house token is the token a house prices in. A launch's curve, its raise and its market cap are counted in it, every fee is collected in it, and at graduation the launch's pool pairs against it.
Buys paid in SOL or USDC are market buys of the house token on their way into a curve. The house's share of every fee is burned in it, and each graduation locks more of it in a pool.
1.3The house vault
Each house has a vault, a PDA with the seeds ["vault", house]. The vault is the fee claimer of every curve config the house uses, so the house's share of every curve fee is paid to it. After each graduation it also owns the house's locked position in the launch's pool, and that position's fees.
The vault has two ways out: the burn and the protocol share's transfer to the protocol PDA. No key, the operator's included, can send its fees anywhere else.
1.4The SOL and USDC houses
The SOL and USDC houses are open from day one. Every other token's house opens from Open a house once its mint passes the checks.
SOL, USDC, USDT and USD1 are reserve mints. A reserve-mint house has no token worth burning, so its whole house share goes to the protocol PDA. The SOL house prices in wrapped SOL.
1.5Launching and buying in a house
A creator launches into a house from Create: they pick the house, name the token, add an image and an optional first buy, and sign. The launch starts on the house's current curve config, priced in the house token. A first buy paid in the house token, or routed in a way that fits one transaction, is one signature; when the route doesn't fit, it is two: the swap into the house token, then the launch quoted from what arrived.
A buyer pays with SOL, USDC or the house token. A buy paid in SOL or USDC routes through Jupiter into the house token and then buys on the curve, so every buy paid in SOL is a market buy of the house token. When that route fits one transaction it is one signature; when it doesn't, it is two: the swap, then the buy quoted fresh from the house token that arrived. A sell is paid out in the house token and can route on into SOL or USDC the same way, in one signature or two.