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How it works

Liquidity locked, not burned.

Launch a coin in seconds. At graduation the liquidity is locked in an on-chain locker instead of burned. When a coin dies, holders get their exit value back and the rest buys back $LOCK.

01 · Lifecycle

Six states, all permissionless

Every coin moves through the same on-chain state machine. Activity during the last call loops it back to Locked.

  1. 01

    Bonding

    Anyone launches a coin. It trades on a pump-style bonding curve (1.25% fee: 0.30% creator, 0.95% protocol).

  2. 02

    Graduating

    At ~85 SOL raised the curve completes and liquidity migrates to two Meteora DAMM v2 pools: 90% TOKEN/SOL, 10% TOKEN/$LOCK.

  3. 03

    Locked

    Both LP positions go into the on-chain locker. Nobody — not the dev, not the protocol — can pull them. LP fees are routed to the creator and protocol.

  4. 04

    Last call

    After a 7-day minimum age, if volume stays below 2 SOL/day for 3 days, a public 48h countdown starts. 2 SOL of trading revives the coin.

  5. 05

    Redeeming

    No revival? The locker pulls the liquidity. Holders burn tokens for their exact exit value from a redemption vault for 30 days.

  6. 06

    Closed

    The rest — the dead pot — splits 30% to the dev and 70% to buy back $LOCK.

02 · Migration

The 90 / 10 split

At graduation 85 SOL + 206.9M tokens become liquidity. 10% of the SOL buys $LOCK for a second pool, so every launch adds buy pressure and depth to the native token.

03 · The math

What holders get when a coin dies

For constant-product pools, holders selling all circulating tokens optimally would receive the fraction C / (T + C) of the pool’s SOL. That’s exactly what the redemption vault pays — the rest is the dead pot.

H = Q · C / (T + C)
dead pot = Q − H = Q · T / supply = k / supply
Hholders’ redemption vault
QSOL left in the pools
Ttokens in the pools
Ccirculating tokens

Worked example

Migration 85 SOL + 206.9M tokens (single pool for simplicity). At unlock the pool holds 25 SOL.

Tokens in pool T = k / Q703.5M
Circulating C = supply − T296.5M
Holders’ vault H7.41 SOL
Dead pot17.59 SOL
→ Dev (30%)5.28 SOL
→ Buy back $LOCK (70%)12.31 SOL
Holder with 10M tokens gets0.25 SOL
04 · Game theory

Why farming the dead pot always loses

Could a dev buy the whole curve, dump it, let the coin die and collect the dead pot? The numbers say no.

Buy out the whole curve−85.01 SOL
… plus curve fees (1.25%)−1.06 SOL
Dump 793.1M tokens into the pool+67.41 SOL
… minus AMM fee (0.5%)−0.3371 SOL
Dead pot left behind17.59 SOL
Dev share of the pot (30%)+5.28 SOL
Net result-13.72 SOL

The dead pot is fixed at k / supply ≈ 17.59 SOL — it doesn’t grow when the price falls.

Dumping only moves SOL from the pool to the seller, and the curve’s slippage makes the round-trip lose ~17.59 SOL. The dev gets back 30% of a ~18 SOL pot: a guaranteed loss of more than 12 SOL. The 70% buyback share goes to $LOCK holders.

05 · Try it

Dead pot calculator

Drag the slider: how much SOL is left in the pool when the coin dies, and where does it go?

03468102136184385136SOL
Holders’ redemption vaultBuyback $LOCK (70%)Dev (30%)
18 (all sold back)136
Holders’ vault
7.41SOL
Dead pot
17.59SOL
→ Dev (30%)
5.28SOL
→ Buyback (70%)
12.31SOL

A holder of 10M tokens redeems 0.25 SOL. The dead pot is always k / supply ≈ 17.59 SOL — it doesn’t grow when the price falls.

06 · FAQ

Questions

Burned LP is gone forever: when a coin dies, its liquidity is stuck in a pool nobody trades. Locked LP can be released by rules everyone can verify — so dead coins pay their holders back instead of leaving dust.

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