Fair launch auction

Accounts the program creates

Every account has an address derived from fixed seeds (a PDAProgram-derived address: an account address computed from fixed words and the program’s id. It has no private key; only the program can sign for it.), so the page finds an auction from its coin alone and nobody can swap in a look-alike.

Who can do what

• ActionWho signsRules the program enforces
• CreateAny wallet; it becomes the creatorA classic SPL coin with no mint or freeze authority whose whole supply (sale + pool + creator) moves into escrow; a window of at most 30 days that ends in the future; at least 1,000,000,000 raw units for sale; a minimum raise of at least 0.001 SOL; pool share plus fee at most 100%; an immutable program.
• DepositAnyoneOnly inside the window, at least 0.001 SOL, and never above the per-wallet cap. There is no withdrawal while the window is open.
• Open the poolAnyoneAfter close, within 7 days, and only if the minimum was met. It moves exactly the pool’s SOL share and pool tokens, checks the pool took exactly those amounts and pays the fee to the fixed fee wallet.
• ClaimThe bidderAfter the pool opens: tokens at the clearing price plus any refund above the cap, to the bidder’s own token account.
• RefundThe bidderBelow the minimum, or no pool 7 days after close: the whole deposit back.
• Creator settlementThe creator, onceAfter the pool opens: the raise minus the pool share and the fee, plus the creator tokens. After a failed auction: the whole escrowed supply back.
• CloseThe creatorAfter the creator and every bidder have settled. Rounding dust tokens are burned; every remaining lamport, rents included, goes to the creator.
• Take bidders’ SOL elsewhereNobodyNo instruction pays escrowed SOL to anyone except the bidder, the pool, the creator’s fixed share or the VEYDUCT fee. The LP cannot be withdrawn.

Anyone can create an auction for a coin they mint here. Check the coin address, the creator share and the pool share before you deposit.

Clearing math, with a worked example

SOL amounts on chain are lamportsThe smallest unit of SOL: 1 SOL is 1,000,000,000 lamports. (1 SOL is 1,000,000,000) and token amounts are raw units (1 token with 6 decimals is 1,000,000).

There are no bid prices. Everyone deposits SOL, and after close everyone pays the same clearing priceThe one price every bidder pays, set at close: the raise divided by the tokens for sale. Depositing early or late does not change it.: the raise divided by the tokens for sale. Every division rounds down.

1. The raiseraise = min(total deposited, raise cap)With no cap, the price simply rises with demand.
2. Your tokenstokens = your deposit × tokens for sale ÷ total depositedEvery bidder gets the same share of the sale as their share of all deposits.
3. Your refund above the caprefund = your deposit × (total deposited − raise) ÷ total depositedZero unless deposits went past the cap.
4. Where the raise goespool = raise × pool share · fee = raise × 1% · creator = raise − pool − feeThe fee comes out of the creator’s side, so the pool always gets its full share.

Example

1. 1,000,000,000 tokens: 50% sold, 40% into the pool, 10% to the creator.Minimum 10 SOL, cap 30 SOL, 80% of the raise into the pool.
2. You deposit 5 SOL, B 12 SOL, C 20 SOL.total 37 SOL → raise 30 SOL → price 30 ÷ 500,000,000 = 0.00000006 SOL per token
3. You claim.5 × 500,000,000 ÷ 37 = 67,567,567.567567 tokens and 5 × 7 ÷ 37 = 0.945945945 SOL back: you paid 4.054054055 SOL.
4. The pool opens.Pool 24 SOL + 400,000,000 tokens (it opens at the same 0.00000006 SOL per token), VEYDUCT fee 0.3 SOL, creator 5.7 SOL + 100,000,000 tokens.
5. Rounding.Claims add up to 1 raw unit less than the sale (burned at close) and refunds to 2 lamports less than the 7 SOL above the cap (returned to the creator at close).

Run the same steps in the Practice tab: it uses the page’s own planner and the SDK’s clearing functions, so you will see these numbers.

Costs

VEYDUCT fee: 1% of the cleared raise · max 2% · set by VEYDUCT. It is charged only when the pool opens, out of the creator’s side of the raise; the pool’s SOL and bidder refunds are unchanged, and failed auctions pay no fee.

VEYDUCT feeFixed into each auction when it is created. Paid from escrow to VEYDUCT’s fee wallet in the transaction that opens the pool.

1% of the raise

Creating the auctionCoin mint (82 bytes), your token account and the coin escrow (165 bytes each), the auction (248 bytes) and the SOL escrow’s rent floor, at mainnet rent of 5,080 lamports per byte plus 128 bytes per account; two signatures.

0.006614 SOL

Your first depositYour deposit record (88 bytes). Returned when you claim or refund.

0.00109728 SOL

Opening the poolRent for the PumpSwap pool’s five accounts, kept by the pool. Whoever opens it also needs 0.05 SOL free for a moment; the unused part comes back in the same transaction.

0.00766572 SOL

ClaimingOnly if your wallet has no token account for the coin yet.

0.00148844 SOL

Network feePer transaction, per signature.

0.000005 SOL

Closing the finished auction returns the auction, coin escrow and SOL escrow rent to the creator. Your token account stays yours.

Timing

• Scheduled, then open. Deposits are accepted from the start time until the end time; the window is at most 30 days. On this page the start defaults to five minutes after creation.
• Closed above the minimum. Anyone can open the pool, starting at the end time, for 7 days.
• Refunding. Below the minimum at the end time, or no pool 7 days after it: every deposit can be refunded in full, for as long as it takes.
• No early exit. Deposits cannot be withdrawn while the window is open, and the creator cannot end it early.

Edge cases and what can go wrong

FAQ