1. Launch
A creator launches a normal pump.fun coin from their own wallet. PARACHUTE builds two transactions the creator signs: the pump.fun create (with an optional dev buy) and the fee sharing setup with a small seed for the parachute vault. PARACHUTE never holds the creator's keys. The confirmed launch starts the coin's 10:00 clock.
The creator can raise the vault share; it never goes under 50%.
2. The 10:00 clock
For ten minutes the vault fills with every trade and the bonding curve races toward graduation. The coin page shows both, live: the dial, the curve percentage and the vault. The keeper reads the curve every few seconds; the block time of the completing trade decides whether the coin made it.
3. Graduated in time: the vault burns
If the curve completes at or before 10:00 there is no payout. The keeper buys the coin with everything spendable in the vault (at most 5% slippage) and burns the bought tokens with Token-2022 BurnChecked. Both transactions carry memos (parachute:v1:buyback and parachute:v1:burn). Fees that arrive later are burned once a day.
4. Or the parachute opens
At 10:00 the keeper takes the mark snapshot and pays the whole spendable vault (at least 0.005 SOL, otherwise it carries) pro rata by bag to wallets holding at least 0.01% of supply.
A coin is at 64% of its curve when the clock hits 10:00. Its vault holds 1.2 SOL spendable. Three wallets hold A 3M tokens, B 1M, C 1M.
- A gets 0.72 SOL, B and C get 0.24 SOL each.
- Payouts under 0.0001 SOL are re-split across the others; dust carries to the settlement.
- Over the next 24 h the vault collects 0.4 SOL more. A sold half, so the settlement counts A at 1.5M: A 0.2, B 0.1, C 0.1 SOL.
5. The settlement at 24 h
Fees keep landing in the vault after the mark. At mark + 24 h a second drop pays them by the smaller of each wallet's 10:00 and 24 h bag. Buying after the mark adds nothing; selling lowers your share. If nobody is still holding, the settlement is bought back and burned.
7. Custody and limits
Each parachute vault is a keeper vault: one AES-GCM encrypted key per vault, a guard that only allows payouts, buybacks, burns and the fee crank, every transaction public with a memo, and the signature recorded before each send so nothing is sent twice. Drops over 25 SOL or with a payout over 5 SOL wait for an operator. An operator kill switch pauses all keeper sends.
pump.fun lets a coin's creator edit fee shares. A watcher re-checks every few minutes and marks the coin unaligned if the vault's share is cut.
8. Public API
GET /api/coins?sort=clock|vault|paid|burned|new&phase=WINDOW|GRADUATED|DEPLOYED|SETTLEDLive coins with their clock, phase, curve progress, vault, paid and burnedGET /api/coins/[id]One coin: clock, vault, rounds, charts, holders in, my shareGET /api/deploy/[id]The payout receipt: drop 1, drop 2, every payoutGET /api/rounds?coin=[id]Recent drops and burnsGET /api/statsTotals, coins by phase and every coin on the clockGET /api/og/coin/[id], /api/og/deploy/[id]Share cards (1200x630 PNG)FAQ
Do I need to claim?+
No. Payouts are sent in SOL to the wallet that held the coin, in batched transfers right after the mark and after the settlement.
Why did I get nothing?+
You need a bag of at least 0.01% of supply at the 10:00 mark. For the settlement your bag counts at the smaller of your 10:00 and your 24 h balance. The creator's wallets and pool accounts never get payouts. And a coin that graduated in time pays nobody: its vault burns.
Why burn when a coin graduates?+
A coin that makes it does not need a parachute. Its vault buys the coin back and burns it instead, so the vault never sits idle.
Is the burn price support?+
No. It is a market buy with SOL from the vault followed by a burn of the bought tokens. It promises nothing about price.