Docs
How a wall is built, what locks it, and what it cannot do.
Every number on this page is read from the same file the launch code and the keeper use. A launch config cannot be edited, so they hold for every coin launched with it.
Launch
A launch is two transactions. You sign the first. It creates the coin and its bonding curve on Meteora, makes your first buy if you set one, pays 0.1 SOL into the coin's vault and moves 30,000 coins there.
The vault signs the second, sent as soon as yours lands. It creates the wall pool and the wall's position, and locks the position. The pool opens for trading 150 slots later, about a minute.
- Supply
- 1,000,000,000, 6 decimals
- Mint and freeze authority
- None
- Curve starts at
- 33.6 SOL market cap
- Curve ends at
- 420 SOL market cap
- After the curve
- Meteora DAMM v2 pool
- Pool liquidity
- 100% locked for good
- Creator pays into the vault
- 0.1 SOL
Fees
Every buy and sell pays 2%, taken in SOL. The split is set in the launch config and holds on the curve and on the open pool after it.
- To the coin's wall
- 0.8%
- To the creator
- 0.8%
- To Meteora
- 0.4%
- To this site
- 0%
Selling into a wall has its own fee, set by Meteora's DLMM program. It starts at 1% and rises with how far the sell pushes the wall down: on the fork, a sell that stayed on the top step paid 1.8%, and one that ran through many steps paid the 10% cap. It falls back after 2 minutes without trades in the wall. Meteora keeps 20% of it, the rest goes back into the wall.
The wall
A wall is a single liquidity position in a Meteora DLMM pool for the coin against SOL. The pool is a ladder of price steps, each 4% from the next. The keeper puts SOL on the 12 steps under the market price, an equal amount on each, so the wall reaches 38% under its top.
When the price falls into the wall, the wall buys. The coins it bought stay in the position, on offer on the same step. When someone buys them, or the keeper buys them and sells them on the market, the SOL is a bid again, one fee richer.
The first SOL goes in once about 0.14 SOL of fees is waiting, around 18 SOL of trading. Before that the rent of the pool's first price range (0.07 SOL) would eat more than half of the deposit, and the keeper refuses any run where costs take more than 50%.
The lock
The position carries a lock release point. Until that point the DLMM program rejects every instruction that takes liquidity out. The release point is slot 9,000,000,000,000,000,000. At 400 ms a slot that is about 114 billion years away.
The program only accepts a release point on a launch pool that has not opened. That is why the wall pool opens 150 slots after it is created: the lock is in place before the first trade, and it cannot be changed afterwards.
We ran each of these against the Meteora programs on a fork of mainnet:
- Owner withdraws
- LiquidityLocked (6055)
- Anyone else withdraws
- ConstraintRaw (2003)
- Owner closes the position
- NonEmptyPosition (6030)
- Owner adds SOL
- Accepted
- Owner claims trading fees
- Accepted
The last row matters: fees the wall earns can be claimed by the vault. The keeper adds them back to the wall in the same run.
The keeper
Each coin has its own vault, an ordinary account. The wall's fee share is claimed into it, it owns the locked position, and it pays the rent and network fees of its own wall. Its key is derived from our keeper key, so we control it.
A keeper run does this, in order:
- Claims the wall's share of trading fees into the vault.
- If the wall holds coins while the market is above them, buys them out of the wall and sells them on the market. What that earns goes into the wall.
- Picks the wall's top: one step under the market, and at most 5 steps (22%) above the old top.
- Adds everything in the vault, less a 0.005 SOL reserve for fees, as bids on the 12 steps from the top down.
- Shortest time between runs
- 10 minutes
- Smallest run
- 0.02 SOL
- Largest raise per run
- 5 steps, 22%
- Largest share lost to costs
- 50%
Anyone can start a run from a coin's page. A run reads everything from chain, so starting one early does nothing. When the curve is full, the same run moves the coin to its open pool.
Limits
A wall is not a price floor. It is real SOL bidding at real prices. Sell more than it holds and the price goes through it. The lock means nobody can remove the bids. It does not mean nobody can sell into them.
The vault is trust, the wall is not. SOL in the wall is locked by the program. Fees on their way there are held on the curve and then in the vault, and we hold the vault's key. Every vault is linked on its coin's page, and its transactions are listed there.
The wall lags on purpose. It climbs at most 22% per run and one run fits in 10 minutes. A coin that goes up five times in an hour has its wall far below it for a while.
Launch is two transactions, not one. Both do not fit in a single one. For a second or two after a coin is created, someone else could create that coin's DLMM launch pool first. The coin would then trade without a wall, and the vault would hold the setup payment.
Aggregator routing is untested. Sells on this site are quoted against the wall and the market, and take the better one. Whether Jupiter and trading bots route into wall pools has not been tested on mainnet.
Meteora can upgrade its programs. The lock is enforced by the DLMM program as it is deployed today.
Programs
This site has no program of its own. A coin lives entirely in three Meteora programs.
- Launch config
- Curve, fees and fee receivers for every coin. It cannot be edited.
- 6ttKyAVQjPHxq4U6WgfaTyPi9xP3uzG7XGNnVMQasoze