How it works

1. Back. A creator opens a raise with a minimum and a maximum in SOL. You put SOL in before the token exists. If the minimum isn’t met by the deadline, or the creator cancels, every backer takes back 100%.
2. Launch on pump.fun. One instruction creates the token on pump.fun and spends the pooled SOL, minus the 1% launch fee, on its very first buy: the bundle. Nobody can trade before it. Part of the raise stays as SOL. Both sit in the launch’s vault.
3. Earn. Only the vault agent trades the vault: it sells into rallies above the vault’s average cost and buys back dips, never more than its per-window caps, never below cost. Each time it sells at a profit, 75% of that profit is credited to backers by deposit share (backer earnings) and 25% goes to the buyback pool, which buys the Holdfast token and burns it.

Buying and selling the token itself happens on pump.fun; every launch page links there. Holdfast earns only the 1% launch fee and a small create fee, and the creator earns 0% of fees: pump.fun’s creator fee goes 75% into the vault as more market-making capital and 25% to the same buyback pool.

Say a raise closes at 10.00 SOL and you put in 1.00 SOL, a 10% share. The creator kept a 30% SOL reserve and capped the bundle at 15% of supply. At launch:

Weeks later the price rallies to 1.5× the vault’s average cost and the agent sells a tenth of its tokens into it:

The cost part goes back into vault SOL, so the agent has more to buy the next dip with, and the cycle repeats as long as the token trades. Nothing here is a promise: a token that never rallies above the vault’s cost pays nothing, and a token that falls stays down until it doesn’t. The numbers are the program’s own bundle maths from previewPumpBundle; a real launch’s fills differ by its venue fees and price.

• The raise misses its minimum or the creator cancels: refunds open and every backer claims 100% of their deposit. No fee.
• The coin dies. Once a launch is at least 3 days old, no trade for 24 hours, and no tokens held outside the curve and vault, anyone can run the wind-down: the vault’s tokens are sold back into the venue and all of the vault’s SOL is credited to backers.
• The vault agent goes offline. Nothing moves; the vault just sits. Its limits are enforced by the program, not the agent, so a stolen agent key can’t extract anything either.

1. 01

   Back the raise

   Backers pool SOL before the token exists. Miss the minimum and everyone is refunded in full.

   Refund: 100% if min not met or creator cancels

2. 02

   The bundle buys first

   At launch the token is created on pump.fun and the pool, minus the 1% launch fee, makes the first buy, before any public trade can exist. The tokens go into the vault. Only the vault agent trades them; the platform admin can withdraw, and every withdrawal is public.

   Bundle: ≤ 25% of supply

3. 03

   The agent defends

   It buys dips at least 2% under the EMA and at or below the vault’s cost, and sells rallies above both. Rate-limited, on-chain.

   Per window: ≤ 10% of vault SOL

4. 04

   Backers earn

   75% of the vault agent's realized profit goes to backers, pro-rata to their deposit; 25% buys and burns the Holdfast token. pump.fun's creator fee flows 75% into the vault and 25% to the same buyback pool. Claim any time.

   75% of agent profit to backers, 25% to buyback and burn

A launch account moves through four on-chain states: Raising, Live, Refunding and WoundDown. The UI adds “ready to launch” (minimum met, not launched yet) and “raise failed” (deadline passed below the minimum) from the clock, and says under every status chip what you can do right now.

The creator can call launch_pump any time the minimum is met. Anyone can call it once the minimum is met and either the deadline has passed or the raise is full, so a creator can’t hold a funded raise hostage.