Fee-funded buybacks

Accounts involved

Each address is derived from fixed seeds (a PDAA program-derived address: an account address computed from fixed words and keys. Only the program can sign for it.), so the page and the executor find the same accounts, and nobody can swap in a look-alike.

The fee rate comes from the program’s settings account (seed "veyduct-fee-config"). While it does not exist the rate is 0.5%; only VEYDUCT’s fee wallet can change it, never above 1%, and each policy keeps the rate it was created with.

Who can do what

• ActionWho signsRules the program enforces
• Create a policyThe coin’s creator, as recorded in its permanent Pump fee sharing or its VEYDUCT fee routeThe fee sharing must be locked (permanent) with the vault as one of its fixed recipients, or the vault must be a route of your fee route. The coin is a Token-2022 coin with no freeze authority. Cap above 0, budget at least the cap, a floor, spacing above 0, slippage at most 1%, expiry in the future.
• Run a buyThe approved executor, or the creatorNot paused, not expired, spacing passed since the last buy, at most the cap, within the budget, the vault’s wrapped-SOL account empty, only the coin’s canonical PumpSwap pool, and at least the minimum output.
• Pause or resumeThe creator onlyTakes effect at once. Limits stay as they were.
• Withdraw SOLThe creator onlyOnly to the recorded creator wallet.
• Withdraw tokensThe creator onlyOnly to the creator’s own token account for the coin.
• Change limits, executor or destinationNobodyThere is no instruction for it, and none that closes a policy. Make a new policy with another reference number instead.

The executor pays its own transaction costs and can only spend vault SOL on a buy inside your limits. It cannot withdraw, redirect tokens or change anything.

Buy 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. A coin with 6 decimals has 1,000,000 units per token.

The amount of a buy is the total SOL that leaves the vault. The cap per buy and the lifetime budget count it whole, VEYDUCT fee included.

1. The VEYDUCT fee comes off firstfee = amount × 50 ÷ 10,000 (rounded down); net = amount − feeThe fee goes to VEYDUCT’s fee wallet just before the swap; net is what reaches PumpSwap.
2. The minimum output is computed on netminimum = net × floor × (10,000 − slippage) ÷ 10¹³floor is your “minimum tokens per SOL” in token units; slippage is in basis points (100 = 1%). 10¹³ is 10⁹ lamports per SOL × 10⁴.
3. The buy must meet ittokens received ≥ minimumOtherwise the whole transaction is undone and nothing is spent.

Example

A practice pool holds 200,000,000 DEMO and 100 SOL: 2,000,000 DEMO per SOL, a 500 SOL market cap. Pump’s pool fee at that market cap is 1.2% (0.2% to liquidity, 0.05% protocol, 0.95% to your coin as a creator fee).

1. Policy: 0.5 SOL per buy, 1.5 SOL budget, floor 1,800,000 DEMO per SOL, 1% slippage.About three full buys.
2. The executor buys with 0.5 SOL.fee = 0.0025 SOL; net = 0.4975 SOLMinimum: 0.4975 × 1,800,000 × 0.99 = 886,545 DEMO.
3. PumpSwap swaps the net.0.4975 SOL → pool fees 0.00589921 SOL → 978,391.79819 DEMOAbove the minimum, so it goes through. The tokens land in the vault; 0.004670207 SOL of the pool fee is your coin’s creator fee.
4. After the buy.Budget spent: 0.5 of 1.5 SOL. The next buy opens after the spacing you set.

Run the same steps in the practice run: it uses the SDK’s fee and minimum functions (the same ones the page and keeper use), so you will see these numbers. The pool there is a practice pool with Pump’s fee tiers captured from mainnet; a real pool’s output can differ by rounding.

Costs

VEYDUCT fee per buyVEYDUCT fee: 0.5% of each buy's SOL · max 1% · set by VEYDUCT. Paid from the vault; counts toward the cap and budget.

0.5%

VEYDUCT fee to create a policyNo flat fee for buybacks.

None

Account rent for the policy256 bytes at mainnet rent of 5,080 lamports per byte plus 128 bytes per account. Paid by you once; the account is never closed.

≈ 0.00195 SOL

Pump pool fee per buySet by Pump by market cap, part of it paid back to your coin as a creator fee. 1.2% in the example.

Varies

Executor costs per buyNetwork fee, plus 0.00148844 SOL for the wrapped-SOL account that returns to the vault, and 0.00151384 SOL once for the vault’s token account.

≈ 0.0015 SOL

Network feePer transaction you sign: create, pause, resume or withdraw.

0.000005 SOL

Withdrawing tokens creates your token account for the coin if you do not have one (about 0.0015 SOL). An empty vault’s first payment must be at least 0.00065024 SOL, Solana’s minimum balance for an account.

Timing

• Spacing is in slots. The page turns hours into slots at 9,000 per hour; the first buy needs no wait. Slots run about 0.4 seconds each, so clock time can drift.
• Expiry is a slot. The page sets it to today’s slot plus 216,000 slots per day (1 to 365 days). After it, buys stop; pausing and withdrawals still work.
• No schedule runs by itself. A buy happens only when the executor sends one. VEYDUCT’s keeper runs only policies registered with its operator and needs a funded executor.
• Fees arrive when they are paid out. Creator fees reach the vault only when someone runs Share fees’ “Pay existing recipients” (anyone can) or your fee route settles.

Edge cases and what can go wrong

Words used here

Creator fees

The share of every Pump trade paid to your coin’s creator. Share fees can pay part of them to fixed recipients, such as this vault.

PumpSwap

Pump’s own exchange. A coin moves there from its bonding curve when it graduates, and gets one canonical SOL pool.

Graduation

A Pump coin graduates when its bonding curve fills up. It then trades in a PumpSwap pool instead of on the curve.

Vault

The policy’s SOL address. Only the program can sign for it; buys and your withdrawals are the only ways out.

Executor

A wallet you approve to send buys. It can only spend vault SOL on buys inside your limits; it can’t withdraw or change anything.

Price floor

Your “minimum tokens per SOL”. A buy that would give fewer tokens than this, after fees and slippage, is refused. It never follows the market.

Slippage allowance

How far below your price floor a buy may land. 1% is the most the program allows.

Slot

Solana’s clock tick, about 0.4 seconds. The program counts time in slots, so hours and days are close, not exact.

Lamport

The smallest unit of SOL. 1 SOL is 1,000,000,000 lamports.

PDA

A program-derived address: an account address computed from fixed words and keys. Only the program can sign for it.

Token-2022

Solana’s newer token program. Coins launched on Pump today use it.

FAQ