The rules of the salefour steps, then the fine print
Step one
Write it
Pick a ticker the pad allows and put one word under each of its letters. NVDA becomes Not Very Diversified Asset.
Step two
Launch it
One transaction makes the coin on pump.fun and locks its fee split: 70 to the coin's own vault, 20 to buying and burning $BS, 10 to you.
Step three
It buys the stock
When the vault has 0.2 SOL the keeper buys that coin's real tokenized stock through Jupiter and leaves it in the vault. The memo on chain says what it bought.
Step four
Burn, take the stock
Burn N of the coin with the memo BS redeem and the keeper sends you N divided by the supply before your burn, of the vault's stock.
The whole thing in four pictures
A decoding becomes a coin, the coin's fees become stock in its own vault, a burn takes that stock out.
One word per letter of a listed ticker. It becomes the coin's name.
Made on pump.fun with its fees locked 70 / 20 / 10 in the same transaction.
The keeper pushes the fees out of pump.fun; at 0.2 SOL the vault buys the stock.
Burn N tokens with the memo, receive N / supply of the stock in the vault.
What makes a decoding valid
The machine refuses anything else, and so does the server that builds the transaction.
Word count
one word per letter
A four letter ticker takes exactly four words.
First letters
in order
Word one starts with letter one, word two with letter two, and so on.
The words
letters, an apostrophe or a hyphen
Up to twenty characters each. The decoding becomes the coin's name on pump.fun.
The filter
slurs are refused
Crude is the point of the pad; words aimed at people are not. Complaints from three different visitors take a lot off this site; the coin itself stays on pump.fun.
Repeats
allowed
One ticker can carry many lots, each with its own decoding and its own vault.
Which tickers the pad allows
A ticker is allowed only when a real tokenized version of that stock trades on Solana with a live Jupiter route. The pad ticker is the stock symbol without its suffix: NVDAx becomes NVDA.
Where the money goes
A lot's fees
70 / 20 / 10
pump.fun locked fee sharing, set in the launch transaction: the coin's vault, the $BS burn wallet, the creator.
$BS fees
50 / 40 / 10
What the owner forwards to the keeper: buy and burn $BS, buy the index, pay the RPC and the hosting.
Who pushes the fees out
the keeper
pump.fun keeps a coin's creator fees in its sharing config until somebody distributes them. The keeper does that for every lot that traded, once at least 0.01 SOL has gathered, and pays the transaction itself. The launch transaction opens the coin's vault with a wallet's rent (0.00089 SOL, paid by the creator), because pump.fun pays no wallet that does not exist yet.
The triggers
0.2 and 0.5 SOL
A coin's vault buys its stock at 0.2 SOL. The burn wallet buys and burns $BS at 0.2 SOL. The forwarded $BS fees split at 0.5 SOL. Nothing in this pad runs on a clock: no rounds, no daily anything, no countdowns, no cooldowns.
The index's choice
the biggest gap
It buys whichever stock it holds least of against that stock's share of what the pad has spent on stocks so far. With nothing spent yet it starts with the most liquid one.
What can go wrong, said plainly
The keeper holds the stock
a wallet, not a contract
Each coin's vault is an ordinary wallet, derived from one master secret the owner holds. Its balance is public and every move it makes carries a memo, so you can check it; but whoever holds that secret can move the stock. This pad has no program of its own, and the honest version of that sentence is the one above.
A vault is a receipt
not a security
Holding a pad coin is not ownership of a share. The vault holds a tokenized stock issued by somebody else, and the coin is a joke decoding of a ticker.
Tokenized stocks are restricted
by country
xStocks are issued by Backed Finance and are not offered to people in the United States and several other places. Redemption sends you that token. Whether you may hold it is your own affair and your own law.
The issuer can freeze or claw back
yes
These mints carry a freeze authority and a permanent delegate, and can be paused. The pad cannot stop that and does not pretend to.
No route, no purchase
the SOL waits
If Jupiter has no route for a stock when a vault is full, the SOL stays in the vault and the lot's page says so until a route exists.
The floor is not a promise
it is arithmetic
The floor price is the vault's stock value divided by the supply left. It moves with the stock and with every burn. It is not a bid and nobody is obliged to buy at it.
The wallets
All of them are readable on chain. The vault of any lot is printed on that lot's bill.