POT: Fee Auctions on pump.fun Custom Pairs

POT is a launchpad on pump.fun where a coin's creator fees are not paid to a wallet but sold. Each coin is created on pump.fun's Custom Pairs, trading against an asset its launcher chooses — a tokenized stock, a major, a meme — with a creator tax of up to three percent charged in that asset. The coin's creator on pump.fun is not a person but a house: an account of the POT program that collects the fees, forwards a fifth of them to the $POT burner, and offers the rest as a lot every one to five minutes. Bidders pay in the coin itself. The highest bid takes the pot in the pair asset and is burned; every losing bid is returned as credit. Because the burn is priced by open competition rather than by a bot swapping into its own curve, the protocol needs no price oracle, no keeper wallet, no slippage budget and no operator.

The auction is the buyback.

A conventional buyback-and-burn holds a wallet, runs a bot, and buys the coin on the open market at whatever price the curve asks. It pays slippage, it can be front-run, and holders must trust that the wallet is used as promised. POT inverts this. The house never buys the coin. It sells what it already holds — the fees the coin earned, in TSLAx or WBTC or PUMP — to whoever will pay the most coin for them. Rational bidders push the price to the pot's fair value; the coin they pay with is destroyed. Fees become burned supply at a price real participants agreed on, and the program holds nothing it could misuse.

Any pump.fun pair asset, any tax up to three percent.

pump.fun Custom Pairs let a coin trade against an asset other than SOL. The list is pump.fun's own — about 150 assets today, from xStocks such as TSLAx and NVDAx to wrapped majors and memes — and POT reads it live rather than keeping its own. On these pairs pump.fun lets the creator set the creator fee, from 0.01% to 3% of every buy and sell, charged in the pair asset. That rate is fixed when the coin is created and stored by pump.fun, not by POT. SOL and USDC pairs ignore a configured rate, so a house cannot open on them. Pump.fun charges its own protocol fee on top, 0.95% on custom pairs. A pot is always paid in the coin's pair asset: a TSLAx coin's winners are paid in TSLAx.

One account per coin, configured once.

A coin's creator on pump.fun is a plain argument at creation, not a signature, so the launcher names the house — an address derived from the coin's mint — as the creator. In the same click the house is opened, and opening it requires a signature from the mint key itself, which only the launcher's browser holds, so no one can open a house for somebody else's coin. The program checks, against pump.fun's own bonding curve, that the curve's creator is the house, that the pair asset matches, that the tax is between one and three hundred basis points and that the coin is not a holder-reward or cashback coin. The launcher chooses two more terms: the lot length, one to five minutes, and their cut of each sold pot, zero to thirty percent. Neither can be changed afterwards by the launcher, by POT, or by anyone else. The house has no owner and no withdrawal that pays anyone other than the winner, the creator's published cut, whoever settled, and each bidder's own credit.

Bids are held, never spent, until the hammer.

A lot opens with the pot at whatever the house has collected. Bids are denominated in the coin and must exceed the standing bid by at least one percent. A displaced bid is not returned by transfer but credited inside the program, so it can be re-bid without another deposit and withdrawn whenever the bidder chooses. A bid placed inside the soft close — a tenth of the lot, between ten and thirty seconds — pushes the hammer back, so a lot cannot be sniped, only outlasted. At the hammer the highest bidder is owed the pot less the published cuts, and their bid is burned. If the pot is empty at the hammer, nothing sells: the standing bid goes back to its owner as credit and the lot clears. A lot that draws no bid does not sell either: its pot rolls into the next, and an idle house reopens inside the next bid, so a quiet coin costs nobody anything to keep alive. A bid on a lot that ended with a bid standing settles that lot first, in the same transaction, so no one waits for a cranker.

Twenty percent of every fee is auctioned for $POT.

Before any lot is formed the house forwards a fifth of each fresh fee to the burner for its pair asset. Only fresh inflow is skimmed; a rolled pot is never skimmed twice. There is one burner per pair asset, so a burner holds a single asset. The burners accumulate from the first house onwards and do nothing else until $POT launches and is bound, once, by the program's upgrade authority before that authority is burned. From then on each burner sells what it holds by the same open auction a house uses — five-minute lots, thirty-second soft close, bids in $POT, the winning bid burned, two and a half percent to whoever settles. An unattended swap of a dozen different assets into $POT would need an oracle and a router for each and could be sandwiched every time; an auction needs neither. $POT itself is a plain pump.fun coin whose creator rewards fund development and audits; it is the one coin that is never auctioned.

Anyone can settle. Nobody has to.

Creator fees on pump.fun rest in pump.fun's creator vault until collected, and collecting is permissionless. A settlement transaction therefore starts with pump.fun's own collect instructions — the curve's creator vault and, after graduation, the AMM's — and the program only ever reads what arrived in the house. Settlement only matters for a lot with a standing bid; it pays its caller two and a half percent of the pot, so the auction survives the disappearance of POT's own cranker. The winner's and creator's shares are recorded as owed and pushed to their own token accounts by anyone; if an asset's issuer has frozen an account the push fails on its own and the amount stays owed on chain.

What you trust, stated plainly.

The POT program has no admin, no pause and no withdrawal path other than the ones above. Its upgrade authority exists until the program has been audited and has run in public for a soak period; it will then be burned, and until it is, that authority could replace the program — this page will say when it is gone. The authority is also what binds $POT to the burners, once. Beyond the program there are two parties we cannot remove. pump.fun can change a coin's creator or its fee rate through its creator-takeover process, signed by its own authority (UqN2…CMKw); a coin taken over that way stops paying its house. And the issuers of xStocks and similar Token-2022 assets can pause transfers, freeze accounts and move balances with a permanent delegate; a pot held in such an asset inherits every one of those powers. While an issuer has a token paused, collect, settle and payout for every house paired with it stall until it is unpaused; bids in the coin are unaffected, and nothing owed is lost. The program refuses pair assets with a transfer fee, an active transfer hook or accounts frozen by default.

One program, three kinds of account.

sold is an Anchor program. A House per coin holds the auction and the skim; a Burner per pair asset holds the $POT auction; a Bidder record per auction and user holds credit and anything owed. Vaults are token accounts owned by those addresses, and the pot is always the vault balance less what is reserved for winners and the creator. The site reads the chain server-side and never exposes an RPC key to the browser. Launching, bidding, settling and withdrawing are signed by your own wallet; the interface simulates every transaction before it asks. A cranker settles due lots and serves an index for speed, but the site falls back to reading the program directly when it is away.

Program ID GbthFrtdez3D7vcNKTBoPtmQAAn3c7427q4HVoxNhsfi. This is the program that runs every house, not a coin. pump.fun Custom Pairs are documented by pump.fun at pump.fun. Updates on @potdotfun.