How Holdco works

A coin launched here is an ordinary pump.fun coin. Same curve, same trading, same graduation, same page on pump.fun. Every trade on it pays a creator fee, exactly as it would anywhere else.

The difference is where that fee goes. pump.fun's own fee-sharing program routes 100% of it on chain to one wallet, and that wallet buys tokenized shares for the coin that earned it. Nvidia, the S&P 500, gold: whatever the person who launched the coin picked, from a shelf of 12 lines.

Each coin's holdings are its own. One coin can be sitting in nothing but Nvidia while the coin launched beside it holds nothing but gold, and neither one ever touches the other's shares. Two coins that opened the same morning can end the month with completely different returns, and both are right. That is the product.

The shares are never sold to pay anybody. What a fund pays out is what it is worth above every cent of fees ever put into it, and paying that leaves it worth exactly what went in.

Who can launch

anybody with a Solana wallet and about 0.03 SOL for the network

What a coin buys

up to 4 lines from a shelf of 12, weighted evenly

Who decides

whoever launches the coin, once, at launch

Changed later

never, by anybody, including this site

Who is paid

that coin's holders, by balance multiplied by time held

How often

every 1 to 7 days, chosen by the launcher

Holdco's cut

none

The shelf is on the launch page. Every line on it is a real token on Solana with a real market, and the price beside it was read from that market, not typed in. Pick one and the coin's fees all go into it. Pick four and they are split four ways, evenly.

• SPYxS&P 500
• NVNVDAxNvidia
• TSTSLAxTesla
• QQQQQxNasdaq 100
• COCOINxCoinbase
• GLGLDxGold
• MSMSTRxStrategy
• MSMSFTxMicrosoft
• GOGOOGLxAlphabet
• AAAAPLxApple
• MEMETAxMeta
• AMAMZNxAmazon

The choice is written down with the coin when it is created and there is no screen anywhere on this site that changes it afterwards. Not for the launcher, not for Holdco. A holder can read what a coin buys on the day it is launched and it will still be true in a year, which is the only reason the choice is worth anything.

The catalogue itself is generated, never typed. A line is only written into it if a token with that exact ticker exists on Solana and has at least $25,000 of liquidity behind it, so no address on this site was invented by anybody. Rerunning that job is how new lines appear.

Lines per coin

1 to 4

Weights

equal across the lines chosen

Unknown ticker

refused by name, never silently dropped

Minimum depth

$25,000 of liquidity for a line to enter the catalogue

Where it lives

config/catalogue.json

1. 1

   Describe the coin

   Name, ticker, image, and an optional website. The image is squared and resized in your browser and pinned through pump.fun's own IPFS endpoint, so the coin looks the same here, there, and anywhere else that lists it.
2. 2

   Pick what the fees buy

   Up to 4 lines from the shelf. The sentence under the picker says in plain words what the coin will do with every fee it ever collects, and that sentence is what gets written down.
3. 3

   Optional first buy

   Up to 10 SOL, in the same transaction as the create, so you are the first holder. With no first buy you hold none of your own coin: the first people to buy take it all, often within seconds.
4. 4

   Sign twice

   The first signature creates the coin, the second routes its creator fees. They do not fit in one Solana transaction, which is the only reason there are two. Both are built by this site, handed to your wallet, and checked byte for byte against what was built before they are relayed.

A launch costs about 0.024 SOL in rent for the accounts pump.fun opens and in network fees, plus 0.004 SOL that goes to the wallet which pays for every later sweep of that coin's fees. A wallet that cannot cover it is told so before anything is uploaded and before it is asked to sign.

When a coin is created, a fee-sharing config is opened beside it naming one shareholder at 10,000 basis points, which is all of it. Every trade pays its creator fee into the coin's vault, and once the vault clears pump.fun's minimum of about 0.001 SOL, Holdco's worker sends a distribute transaction. The program credits the shareholder in that same transaction, so the SOL moves from the vault to the treasury without passing through anybody's hands.

Every sweep prints a numbered receipt with the signature and the SOL price at that moment, which is what the activity page lists. The coin page reads the config from chain on every visit and shows the split, so if it ever stopped naming the treasury at 100% the site would say so rather than keep the old claim.

pump.fun program

6EF8rrecthR5Dkzon8Nwu78hRvfCKubJ14M5uBEwF6P

Fee program

pfeeUxB6jkeY1Hxd7CsFCAjcbHA9rWtchMGdZ6VojVZ

Treasury

GiC82uqkZCciaTakBNAek1dT2p1irSsP6b5zbHU1RQxN

Sweeper

8fP7fByVTByT53co8WGk2mEwWUTfGR2itTx3Cr5ZE4Bs

Who can move the treasury

one key, kept off this site and never generated by it

basis    what this coin's fees have put in, ever
value    the cash it still holds plus its shares at the market price
profit   value - basis
payable  profit, floored at zero, and never a cent of the basis

Paying the profit brings the value back to the basis. That is what makes "the shares are never sold to pay anybody" a fact rather than a slogan: the capital cannot leave, because the arithmetic will not let it.

The basis is never written down either. A fund that pays out $30 has to climb $30 again before it pays a second time, so a week of losses is never handed to holders as income. The cost is real, and it is the point: after a fall there can be weeks with nothing to pay.

Nothing is stored as a balance. Every figure is the fund's own event log replayed in order, and anyone who replays it and arrives at a different value has found a bug, not a difference of opinion.

Fees swept in

$100.00 over a month

Bought

$98.00 of the lines chosen, $2.00 kept as cash

Shares now worth

$127.40

Value

$129.40 · basis $100.00

Payable

$29.40, and not a cent of the $100.00

After paying

worth $100.00 again, still holding $100.00 of shares

1. 1

   The profit is sold, and only the profit

   A window refuses to close while any of what it owes is still in shares. The sale happens first, it is sized to the profit and nothing more, and it comes out of the largest line so the coin stays close to the weights it was given.
2. 2

   What each wallet is owed is written down

   Before a single lamport moves. The split is by balance multiplied by time held, so buying an hour before a window closes earns an hour of it, and splitting a wallet in two changes nothing. Liquidity pools and other program owned accounts are excluded, with the reason kept.
3. 3

   The transfers go out

   In SOL, because a wallet can receive SOL without anybody having to open an account for it first. Each transfer is written back against the entitlement with its signature, so a run that dies halfway can be run again and will only send what is still unpaid.
4. 4

   Nothing is left behind

   A wallet owed less than $0.25 is not sent a transfer that would cost more than it carries. That amount is held for that wallet and added to what it is owed next time, and it is paid the moment the two together are worth sending. The same happens to a transfer that fails. Dust is never swept into somebody else's payment.

The fund only books a payment it actually made. If a transfer never confirms, the money is still the wallet's, and the ledger says so.

Length

chosen at launch: 1 to 7 days, and never changed after

Paid in

SOL

Split by

balance multiplied by time held

Smallest transfer

$0.25

Below that

held for the same wallet and paid next window

Down weeks

nothing sold, nothing paid, the mark stands

Runs by itself

yes: buying, selling and paying all run on the worker

Every line on the shelf is an xStock, issued by Backed. Each token is backed one to one by the real share, held with a regulated custodian, and is redeemable for it. They are freely transferable, they trade on Solana against USDC, and anybody can buy them without an account anywhere, which is the only reason a site can run a fund like this without a broker in the middle.

What they are not: a claim on the company. Holding a tokenized share is not holding the share itself, there are no voting rights, and the issuer sits between the token and the underlying. The price follows the market for the token, which normally tracks the share but is not guaranteed to.

And the obvious one: shares fall. A coin whose fund is down pays nothing that week, and that is the design working rather than failing.

Price source

the deepest pool on Solana where the share itself is the base token

Read every

couple of minutes, and written down so a page never waits on a market

Cash kept back

2% of a fund, so a payout never has to sell in a hurry

Smallest buy

$5.00

Where they sit

one wallet, with each fund kept apart in the ledger

Holdco

nothing, on the launch and on the fees

pump.fun

its own trading fee, as on any coin there

The launcher

about 0.024 SOL of rent and network fees, plus 0.004 SOL for the sweeps

The swaps

whatever the route costs, which the site prints before it buys

The payouts

the network fee on each transfer, paid by the treasury and not out of anybody's share

1. 1

   The route

   Open any coin page. It reads the fee-sharing config from chain on every visit and shows the shareholder and the split. If it does not say 100% to the treasury, the coin is marked unverified.
2. 2

   The shares

   The funds page prints the mint of every line with a link to the chain. Open the treasury address on an explorer and count what it holds: it should be the sum of every fund on this site.
3. 3

   The sweeps

   Every receipt carries its transaction. Follow it and you will see SOL leaving the coin's vault.
4. 4

   The arithmetic

   npm run selftest replays the whole thing on a throwaway database: the capital rule, the split by time held, the carry of anything too small to send, and the case where one fund falls while the one beside it pays.