Security & verification

Raise

• create_launchCreatorCreate fee (SOL) → fee recipient; rent → the launch; opens the raise

  Opens a raise in one allowlisted quote asset (SOL, USDC or a tokenized stock), within that quote's raise bounds: min and max raise, per-wallet cap, deadline, optional whitelist, on the launchpad the creator picked (Backstock's own, or an enabled registry listing). Pays the flat SOL create fee, funds the rent for the launch's accounts, creates its quote vault, and freezes the launch fee, agent limits, creator-fee split, payback rule, vault floor and the venue's curve start into the launch. Fails if the platform's or the venue's terms changed after you signed.

• depositAnyone (whitelisted wallets, when the raise has a whitelist)Your quote → the launch's quote vault

  Joins the raise as a backer, in the launch's quote asset. Deposits are clipped to the room left under the max raise and the per-wallet cap.

• cancel_launchCreatorNothing — opens full refunds

  The creator can abort a raise before it launches. Every backer can then refund 100%.

• refundBackerYour deposit → you, in the quote asset

  Returns the full deposit when the raise missed its minimum by the deadline, was cancelled, or met it but wasn't launched within 3 days of the deadline.

Launch and venue

• launchCreator once the minimum is met; anyone once the deadline passed or the raise is fullRaise → 1% launch fee → treasury; coin created on its LaunchLab platform; bundle buy + reserve → vault

  For LaunchLab launchpads (Backstock's own, StonkFun, bonk.fun, Raydium), in one instruction: pays the launch fee in the quote asset, creates the coin on the launch's Raydium LaunchLab platform quoted in that asset (on Backstock's own, 1,000,000,000 supply, 79.31% of it sold on the curve), then makes the bundle buy from the raise at the opening price, before any public trade can exist. Refused if the platform's fee rates moved since creation. The bundle takes at most 75% of supply and never completes the curve. Its tokens and the unspent quote go into the vault; that total is what went in at launch, the base of the payback rule.

• launch_venueCreator once the minimum is met; anyone once the deadline passed or the raise is fullRaise → 1% launch fee → treasury; coin created on pump.fun or Meteora DBC; bundle buy + reserve → vault

  The same as launch for pump.fun and Meteora launches: one instruction creates the coin on the venue and makes the bundle buy into the vault. The curve's start must match what the creator signed; the venue's fee rates are observed and re-recorded, refused only above the listing's caps. At most 75% of supply, never completing the curve.

• graduateAnyoneNothing — records the graduated pool

  Once the venue has migrated the completed curve to its pool (Raydium CPMM, PumpSwap or Meteora DAMM v2; graduation, at the same price), records that pool on the launch so the vault agent and fee collection use it from then on.

Vault agent

• agent_buyAgent authorityVault quote → the launch's curve or graduated pool; tokens → vault

  Buys with the vault's quote. No price limit: bounded by the window budget, the price-impact cap and the quote's vault floor, one agent trade per slot, and refused while agents are paused. Trades the curve before graduation and the pool after; fails cleanly while the pool is migrating or the quote's issuer has paused transfers.

• agent_sellAgent authorityVault tokens → the launch's curve or graduated pool; all quote → vault

  Sells slowly into strength: only at least the band over the EMA, at a fill of at least the vault's average cost plus the band, within the price-impact cap per trade (and the window sell budget, on older launches that have one), one agent trade per slot. Every unit of quote it receives stays in the vault.

Fees and payback

• payout_backersAgent authorityVault quote → backers' claimable balance

  Pays backers back once the vault's liquid quote is at least 5× what went in at launch: their principal first, then 15% of the vault per payout, at most one payout every 4h (the principal payout starts the clock too), never below the vault floor. Buying back dips comes first.

• collect_feesAnyoneCreator fees → by the launch's split (default 75% vault, 15% buyback & burn, 10% backers; optional creator wallet)

  Claims the creator fee the LaunchLab platform has collected for the launch (and the CPMM pool's creator fee after graduation), in the quote asset, and splits it by the launch's split, frozen at creation. By default 75% becomes vault quote (agent capital), 15% goes to the buyback & burn wallet and 10% is credited to backers pro-rata. Creators get 0% by default; any creator share is set at creation and shown on the coin's page.

• collect_venue_feesAnyoneCreator fees → by the launch's split (default 75% vault, 15% buyback & burn, 10% backers; optional creator wallet)

  The same sweep for pump.fun and Meteora launches: claims the launch's creator fees from the pump.fun curve and PumpSwap pool, or its Meteora DBC pool and DAMM v2 positions, and splits them by the launch's split (by default 75% vault, 15% buyback, 10% backers). Creators get 0% by default; any creator share is set at creation and shown on the coin's page.

• claim_backer_feesBackerYour claimable quote → you

  Pays the backer's pro-rata share of everything credited so far: 10% of creator fees, payback from payout_backers and a wind-down payout, to their quote account. Claim any time; it never expires.

Vault withdrawals

• admin_withdraw_vaultPlatform admin key (a single key at launch; it is also the program's upgrade authority)Vault quote and tokens → fee recipient

  Withdraws any amount of a launch's vault quote and tokens to the platform fee recipient; it can't touch the pool's liquidity or backers' unclaimed credit. Every withdrawal emits VaultWithdrawn and is listed on the launch page.

• dev_withdraw_vaultDev key (a single key the admin sets)Vault quote and tokens → the dev key's own accounts

  The same withdrawal as admin_withdraw_vault, signed by the platform's single dev key instead of the admin key: quote and tokens go to the dev key's own token accounts. Works while the platform is paused. Every withdrawal emits VaultWithdrawnByDev and is listed on the launch page.

Platform admin

• initialize_platformProgram upgrade authorityNothing — creates the platform config

  One-time setup: admin, fee recipient, agent authority and default params.

• update_platformPlatform admin keyNothing — params for future launches

  Changes defaults for launches created afterwards, within the program's hard caps. Existing launches keep the terms frozen at their creation.

• set_fee_recipientPlatform admin keyNothing — where platform fees and admin vault withdrawals go

  Points launch fees, create fees, the platform's share of creator fees and admin vault withdrawals at a new recipient (dev-key withdrawals always go to the dev key).

• set_agent_authorityPlatform admin keyNothing — which key may call the agent instructions

  Rotates the vault agent's key. Whoever holds it can still only call agent_buy, agent_sell and payout_backers, within each launch's frozen limits.

• set_dev_authorityPlatform admin keyNothing — which key may call dev_withdraw_vault

  Sets, rotates or (with the default pubkey) disables the dev key, the one key besides the admin that can withdraw a vault.

• set_launchlab_platformPlatform admin keyNothing — which LaunchLab platform new coins launch under

  Points Backstock's own launchpad at its Raydium LaunchLab platform config, the one that sets the 0.5% platform fee, the 0.5% creator fee and the CPMM pool coins graduate to.

• add_listingPlatform admin keyNothing — adds a launchpad to the registry

  Adds a launchpad (a LaunchLab platform config, pump.fun, or a Backstock Meteora DBC config) after checking it live: fee caps, the coin standard, who creates graduated pools. Only enabled listings can take new launches.

• update_listingPlatform admin keyNothing — a listing's caps and switches

  Updates a registry listing's mutable fields (enabled, fee caps, label) after re-checking it live; its venue, key and coin standard never change.

• disable_listingPlatform admin keyNothing — closes a launchpad to new launches

  Stops new launches on a listing. Launches already on it keep trading, graduating and collecting fees.

• add_quotePlatform admin keyNothing — allowlists a quote asset

  Adds a quote asset after checking its mint on-chain: SPL Token or Token-2022, no transfer fee, no active transfer hook, accounts not frozen by default, transferable, and a matching LaunchLab config. Sets its raise target, raise bounds, per-wallet cap and vault floor.

• update_quotePlatform admin keyNothing — a quote's settings for future launches

  Enables or disables a quote asset and re-sizes its raise target, bounds and vault floor. Launches already created keep the values frozen at their creation.

• propose_adminPlatform admin keyNothing

  Starts a two-step admin handover.

• accept_adminProposed adminNothing

  Completes the handover; the new key must sign.

Other

• begin_wind_downcrankerWrites launch, authority, quote_vault, token_vault

  Signed by cranker.

• create_dbc_configadminWrites admin, config

  Signed by admin.

• finish_wind_downcrankerWrites launch, authority, quote_vault, token_vault

  Signed by cranker.

• sample_emaagentWrites launch

  Signed by agent.