pumpfun-mechanics

Name: pumpfun-mechanics
Author: agiprolabs

190installs53forks

How to install pumpfun-mechanics?

agiprolabs/claude-trading-skills/pumpfun-mechanics

$npx -y skills add agiprolabs/claude-trading-skills --skill pumpfun-mechanics

Installs into the current project.

Summary

PumpFun bonding curve math, graduation mechanics, instruction parsing, and PumpSwap migration

Files · 1

View on GitHub

SKILL.md

1	# PumpFun Mechanics — Bonding Curves, Graduation & Instruction Parsing
2
3	PumpFun is the dominant Solana token launchpad. Understanding its bonding curve math, graduation process, and instruction formats is essential for analyzing new token launches, building trading strategies around graduation events, and parsing on-chain PumpFun activity.
4
5	## Bonding Curve Math
6
7	PumpFun uses a virtual constant-product (CPMM) bonding curve:
8
9	```
10	k = virtualSolReserves × virtualTokenReserves
11	```
12
13	### Initial Parameters
14
15	\| Parameter \| Value \|
16	\|-----------\|-------\|
17	\| Initial Virtual SOL \| 30 SOL (30,000,000,000 lamports) \|
18	\| Initial Virtual Tokens \| ~1.073B tokens (1,073,000,000,000,000 raw, 6 decimals) \|
19	\| Token Total Supply \| 1B tokens (1,000,000,000,000,000 raw) \|
20	\| Real Token Reserves \| ~793M tokens (793,000,000,000,000 raw) \|
21	\| Real SOL Reserves \| 0 (no real SOL at launch) \|
22	\| Fee \| 1% (applied externally by the program) \|
23
24	Virtual vs Real: Virtual reserves define the curve shape. Real reserves track actual withdrawable funds. The difference (1.073B - 793M = 280M virtual tokens) shapes the initial price but can never be withdrawn.
25
26	### Spot Price
27
28	```python
29	price_sol_per_token = virtual_sol_reserves / virtual_token_reserves
30
31	# In human-readable units:
32	price = (virtual_sol / 1e9) / (virtual_token / 1e6)
33
34	# At genesis: 30 / 1,073,000,000 ≈ 2.796e-8 SOL/token
35	# At graduation: ~4.1e-7 SOL/token (~14.7x from launch)
36	```
37
38	### Buy Tokens (SOL → Tokens)
39
40	```python
41	def buy_tokens(v_sol: int, v_tok: int, real_tok: int, sol_in: int) -> int:
42	"""Calculate tokens received for a given SOL input.
43
44	Args:
45	v_sol: Virtual SOL reserves (lamports).
46	v_tok: Virtual token reserves (raw).
47	real_tok: Real token reserves (raw).
48	sol_in: SOL to spend (lamports, BEFORE 1% fee).
49
50	Returns:
51	Tokens received (raw units).
52	"""
53	k = v_sol * v_tok
54	new_v_sol = v_sol + sol_in
55	new_v_tok = k // new_v_sol + 1 # +1 matches on-chain rounding
56	tokens_out = v_tok - new_v_tok
57	return min(tokens_out, real_tok)
58	```
59
60	### Sell Tokens (Tokens → SOL)
61
62	```python
63	def sell_tokens(v_sol: int, v_tok: int, real_sol: int, tokens_in: int) -> int:
64	"""Calculate SOL received for selling tokens.
65
66	Args:
67	v_sol: Virtual SOL reserves (lamports).
68	v_tok: Virtual token reserves (raw).
69	real_sol: Real SOL reserves (lamports).
70	tokens_in: Tokens to sell (raw units).
71
72	Returns:
73	SOL received (lamports, BEFORE 1% fee).
74	"""
75	k = v_sol * v_tok
76	new_v_tok = v_tok + tokens_in
77	new_v_sol = k // new_v_tok
78	sol_out = v_sol - new_v_sol - 1 # -1 matches on-chain floor rounding
79	return min(sol_out, real_sol)
80	```
81
82	### Buy Cost (Exact token amount → SOL needed)
83
84	```python
85	def buy_cost(v_sol: int, v_tok: int, tokens_wanted: int) -> int:
86	"""Calculate SOL needed to buy exact token amount.
87
88	Returns:
89	SOL cost in lamports (before fee). Returns max int if impossible.
90	"""
91	if tokens_wanted >= v_tok:
92	return 2**64 - 1 # impossible
93	k = v_sol * v_tok
94	new_v_tok = v_tok - tokens_wanted
95	new_v_sol = k // new_v_tok + 1
96	return new_v_sol - v_sol
97	```
98
99	### Fee Handling
100
101	The 1% fee is not part of the curve math. It's applied externally:
102
103	```python
104	# Buying: fee deducted from SOL input before curve
105	actual_sol_to_curve = sol_input * 0.99
106
107	# Selling: fee deducted from SOL output after curve
108	actual_sol_received = sol_from_curve * 0.99
109
110	# Roundtrip minimum cost: ~2% from fees alone, plus price impact
111	```
112
113	### Market Cap
114
115	```python
116	market_cap_sol = (token_total_supply * virtual_sol_reserves) / virtual_token_reserves
117	```
118
119	## Graduation
120
121	Graduation occurs when `realSolReserves` reaches ~85 SOL (~$12K-14K depending on SOL price). Only ~1.4% of PumpFun tokens ever graduate.
122
123	### What Happens
124
125	1. `complete` flag set to `true` on bonding curve account
126	2. `CompleteEvent` emitted (discriminator `5f72619cd42e9808`)
127	3. Bonding curve stops accepting trades
128	4. ~$12K liquidity deposited to the destination DEX
129	5. Token becomes tradeable on PumpSwap (or Raydium for older tokens)
130
131	### Fill Percentage
132
133	```python
134	GRADUATION_THRESHOLD = 85_000_000_000 # 85 SOL in lamports
135
136	fill_pct = (real_sol_reserves / GRADUATION_THRESHOLD) * 100.0
137	```
138
139	### Migration Targets
140
141	- March 2025+: PumpSwap (`pAMMBay6oceH9fJKBRHGP5D4bD4sWpmSwMn52FMfXEA`) — native AMM, no migration fee
142	- Before March 2025: Raydium V4 (`675kPX9MHTjS2zt1qfr1NYHuzeLXfQM9H24wFSUt1Mp8`) — 6 SOL fee
143
144	### PumpSwap Post-Graduation
145
146	PumpSwap is a constant-product AMM with 1% fee (same as bonding curve). Key differences:
147	- Base asset is always WSOL, quote is token
148	- Instruction semantics are inverted: "buy" instruction sells tokens, "sell" instruction buys tokens
149	- Supports creator revenue sharing (0.05% of volume to original creator)
150
151	## Program IDs & Address

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pumpfun-mechanics

190installs53forks

View on GitHub

How to install pumpfun-mechanics?

agiprolabs/claude-trading-skills/pumpfun-mechanics

$npx -y skills add agiprolabs/claude-trading-skills --skill pumpfun-mechanics

Installs into the current project.

Summary

PumpFun bonding curve math, graduation mechanics, instruction parsing, and PumpSwap migration

Files · 1

View on GitHub

SKILL.md

1	# PumpFun Mechanics — Bonding Curves, Graduation & Instruction Parsing
2
3	PumpFun is the dominant Solana token launchpad. Understanding its bonding curve math, graduation process, and instruction formats is essential for analyzing new token launches, building trading strategies around graduation events, and parsing on-chain PumpFun activity.
4
5	## Bonding Curve Math
6
7	PumpFun uses a virtual constant-product (CPMM) bonding curve:
8
9	```
10	k = virtualSolReserves × virtualTokenReserves
11	```
12
13	### Initial Parameters
14
15	\| Parameter \| Value \|
16	\|-----------\|-------\|
17	\| Initial Virtual SOL \| 30 SOL (30,000,000,000 lamports) \|
18	\| Initial Virtual Tokens \| ~1.073B tokens (1,073,000,000,000,000 raw, 6 decimals) \|
19	\| Token Total Supply \| 1B tokens (1,000,000,000,000,000 raw) \|
20	\| Real Token Reserves \| ~793M tokens (793,000,000,000,000 raw) \|
21	\| Real SOL Reserves \| 0 (no real SOL at launch) \|
22	\| Fee \| 1% (applied externally by the program) \|
23
24	Virtual vs Real: Virtual reserves define the curve shape. Real reserves track actual withdrawable funds. The difference (1.073B - 793M = 280M virtual tokens) shapes the initial price but can never be withdrawn.
25
26	### Spot Price
27
28	```python
29	price_sol_per_token = virtual_sol_reserves / virtual_token_reserves
30
31	# In human-readable units:
32	price = (virtual_sol / 1e9) / (virtual_token / 1e6)
33
34	# At genesis: 30 / 1,073,000,000 ≈ 2.796e-8 SOL/token
35	# At graduation: ~4.1e-7 SOL/token (~14.7x from launch)
36	```
37
38	### Buy Tokens (SOL → Tokens)
39
40	```python
41	def buy_tokens(v_sol: int, v_tok: int, real_tok: int, sol_in: int) -> int:
42	"""Calculate tokens received for a given SOL input.
43
44	Args:
45	v_sol: Virtual SOL reserves (lamports).
46	v_tok: Virtual token reserves (raw).
47	real_tok: Real token reserves (raw).
48	sol_in: SOL to spend (lamports, BEFORE 1% fee).
49
50	Returns:
51	Tokens received (raw units).
52	"""
53	k = v_sol * v_tok
54	new_v_sol = v_sol + sol_in
55	new_v_tok = k // new_v_sol + 1 # +1 matches on-chain rounding
56	tokens_out = v_tok - new_v_tok
57	return min(tokens_out, real_tok)
58	```
59
60	### Sell Tokens (Tokens → SOL)
61
62	```python
63	def sell_tokens(v_sol: int, v_tok: int, real_sol: int, tokens_in: int) -> int:
64	"""Calculate SOL received for selling tokens.
65
66	Args:
67	v_sol: Virtual SOL reserves (lamports).
68	v_tok: Virtual token reserves (raw).
69	real_sol: Real SOL reserves (lamports).
70	tokens_in: Tokens to sell (raw units).
71
72	Returns:
73	SOL received (lamports, BEFORE 1% fee).
74	"""
75	k = v_sol * v_tok
76	new_v_tok = v_tok + tokens_in
77	new_v_sol = k // new_v_tok
78	sol_out = v_sol - new_v_sol - 1 # -1 matches on-chain floor rounding
79	return min(sol_out, real_sol)
80	```
81
82	### Buy Cost (Exact token amount → SOL needed)
83
84	```python
85	def buy_cost(v_sol: int, v_tok: int, tokens_wanted: int) -> int:
86	"""Calculate SOL needed to buy exact token amount.
87
88	Returns:
89	SOL cost in lamports (before fee). Returns max int if impossible.
90	"""
91	if tokens_wanted >= v_tok:
92	return 2**64 - 1 # impossible
93	k = v_sol * v_tok
94	new_v_tok = v_tok - tokens_wanted
95	new_v_sol = k // new_v_tok + 1
96	return new_v_sol - v_sol
97	```
98
99	### Fee Handling
100
101	The 1% fee is not part of the curve math. It's applied externally:
102
103	```python
104	# Buying: fee deducted from SOL input before curve
105	actual_sol_to_curve = sol_input * 0.99
106
107	# Selling: fee deducted from SOL output after curve
108	actual_sol_received = sol_from_curve * 0.99
109
110	# Roundtrip minimum cost: ~2% from fees alone, plus price impact
111	```
112
113	### Market Cap
114
115	```python
116	market_cap_sol = (token_total_supply * virtual_sol_reserves) / virtual_token_reserves
117	```
118
119	## Graduation
120
121	Graduation occurs when `realSolReserves` reaches ~85 SOL (~$12K-14K depending on SOL price). Only ~1.4% of PumpFun tokens ever graduate.
122
123	### What Happens
124
125	1. `complete` flag set to `true` on bonding curve account
126	2. `CompleteEvent` emitted (discriminator `5f72619cd42e9808`)
127	3. Bonding curve stops accepting trades
128	4. ~$12K liquidity deposited to the destination DEX
129	5. Token becomes tradeable on PumpSwap (or Raydium for older tokens)
130
131	### Fill Percentage
132
133	```python
134	GRADUATION_THRESHOLD = 85_000_000_000 # 85 SOL in lamports
135
136	fill_pct = (real_sol_reserves / GRADUATION_THRESHOLD) * 100.0
137	```
138
139	### Migration Targets
140
141	- March 2025+: PumpSwap (`pAMMBay6oceH9fJKBRHGP5D4bD4sWpmSwMn52FMfXEA`) — native AMM, no migration fee
142	- Before March 2025: Raydium V4 (`675kPX9MHTjS2zt1qfr1NYHuzeLXfQM9H24wFSUt1Mp8`) — 6 SOL fee
143
144	### PumpSwap Post-Graduation
145
146	PumpSwap is a constant-product AMM with 1% fee (same as bonding curve). Key differences:
147	- Base asset is always WSOL, quote is token
148	- Instruction semantics are inverted: "buy" instruction sells tokens, "sell" instruction buys tokens
149	- Supports creator revenue sharing (0.05% of volume to original creator)
150
151	## Program IDs & Address

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6 picks

Type