Skip to content
Pina Bonding Curve

Running a launchpad

A launchpad is a configuration: one LaunchConfig account that fixes the curve, supply, fees, creator terms, and graduation terms for every token launched under it. Anyone can create configurations for themselves; the creator of a configuration is its partner. This page walks through every term and how to choose it. For the curve itself see Designing curves.

The parties

Party Who Earns
Partner The configuration’s authority The partner share of trading and migration fees, and optional LP
Creator Whoever launches a token under the config The creator share of fees, an optional vested allocation, optional LP
Traders Anyone Base bought on the curve, tradable on the Pina AMM after graduation

A configuration is immutable. Traders can judge a launchpad by its one configuration instead of auditing every token, and nobody can change the terms of a live launch. To change terms, create a new configuration with the next index; launches already running keep their old terms.

Every term

Rates and shares are parts per million: 10_000 is 1%, 1_000_000 is 100%. Durations are seconds.

Curve and supply

Term Limits Meaning
sqrt_start_price Supported square-root price range Q64.64 square-root price every launch starts at
segments 1 to 16, strictly increasing upper prices Each segment’s upper square-root price and liquidity; see Designing curves
migration_quote_threshold Reachable within the segments Quote a launch raises before it completes
total_supply Covers sale + migration + allocation Base minted for every launch; the mint authority is revoked afterwards
base_decimals 0 to 18 Decimals every launched mint must have

Trading fees

Term Limits Meaning
start_fee_rate At most 990,000 (99%), at least the end rate Fee charged at the moment trading opens
end_fee_rate At most 100,000 (10%) Fee once the decay finishes
fee_decay_duration Above zero exactly when start > end Seconds over which the fee falls in a straight line
creator_fee_share At most 1,000,000 Creator’s share of every trading and migration fee

A high opening fee that decays over the first seconds or minutes is the anti-sniping tool: bots that buy in the launch block pay most of their purchase as fees, while everyone a minute later pays the normal rate. Set start_fee_rate equal to end_fee_rate and fee_decay_duration to 0 for a flat fee. See Fees.

Creator allocation

Term Limits Meaning
creator_allocation Covered by total_supply Base reserved for each launch’s creator
creator_vesting_cliff Cliff + duration fits i64 Seconds after activation before anything vests
creator_vesting_duration Cliff + duration fits i64 Seconds after the cliff over which the allocation vests evenly

The allocation stays in the launch’s base vault until claimed with ClaimCreatorAllocation, whatever stage the launch is in. A zero duration releases everything at the cliff; a zero allocation turns the feature off.

Graduation

Term Limits Meaning
amm_config A Pina AMM tier restricted to the curve The fee tier graduated pools are created in
migration_fee_rate At most 100,000 (10%) Share of the raised quote taken as a fee at graduation, split like trading fees
creator_lp_share Creator + partner at most 1,000,000 Share of the pool’s LP tokens sent to the creator
partner_lp_share Creator + partner at most 1,000,000 Share of the pool’s LP tokens sent to the partner
pool_creator_mode 0 creator, 1 partner Who collects the AMM pool’s creator fees after graduation

LP tokens not paid to the creator or partner are burned, so that share of the pool’s liquidity is locked forever. With both shares at zero, the whole graduated pool is permanently locked liquidity, which is what most traders want to see. See Completion and graduation.

Quote mint and AMM tier

The quote mint is the token every launch raises, usually wrapped SOL (So11111111111111111111111111111111111111112) or a stablecoin. It may be SPL Token or Token-2022 with transfer-neutral extensions only.

amm_config must be a Pina AMM fee tier whose pool_creator_authority is this program’s AMM authority PDA, [b"amm_authority"] under the curve program. A restricted tier guarantees nobody can create a launch’s pool before graduation does. The AMM’s upgrade authority creates these tiers; see Deploying. The tier’s trade, protocol, and creator fee rates become the graduated pool’s fees.

Creating a configuration

Write the terms to a JSON file:

{
  "sqrt_start_price": "97610000000000000",
  "segments": [
    { "sqrt_price": "780880000000000000", "liquidity": "5000000000000" }
  ],
  "migration_quote_threshold": 85000000000,
  "total_supply": 1000000000000000,
  "base_decimals": 6,
  "creator_allocation": 50000000000000,
  "creator_vesting_cliff": 0,
  "creator_vesting_duration": 2592000,
  "start_fee_rate": 500000,
  "end_fee_rate": 10000,
  "fee_decay_duration": 60,
  "creator_fee_share": 500000,
  "migration_fee_rate": 20000,
  "creator_lp_share": 0,
  "partner_lp_share": 0,
  "pool_creator": "creator"
}

This launchpad sells about 720 million of a billion tokens for 85 SOL. Fees open at 50% and fall to 1% over the first minute, split evenly between partner and creator. Each creator receives 50 million tokens vesting over 30 days. Graduation takes 2%, and the whole pool is locked.

Preview, then create:

Terminal window
pina-curve --simulate config create --index 0 --quote-mint So11111111111111111111111111111111111111112 \
  --amm-config <AMM_TIER> --terms terms.json
pina-curve config create --index 0 --quote-mint So11111111111111111111111111111111111111112 \
  --amm-config <AMM_TIER> --terms terms.json

The configuration’s address is the PDA [b"config", partner, index], printed by the command. Share it: creators launch with pina-curve launch create --config <CONFIG>, and front ends list launches by filtering Launch accounts on their config field.

Presets to start from

Launchpad style Curve Fees Creator Graduation
Community meme launch One segment, ~18× price rise 50% → 1% over 60 s, 50/50 split No allocation 2% fee, all LP burned
Creator-backed project Shallow then deep segments 1% flat, 80% to the creator 5% vesting over 6 months 1% fee, 10% LP to the creator
Partner-run platform One segment 25% → 1% over 30 s, 70% to the partner None 5% fee, 20% LP to the partner
Fixed-price sale One very deep segment, narrow range 0.5% flat Optional 0% fee, all LP burned

Every preset is a starting point. Preview each one with --simulate before using it.

Operating

Task Command
Inspect a configuration pina-curve config show --config <CONFIG>
Collect partner fees from a launch pina-curve claim partner-fees --base-mint <MINT> (partner key)
Graduate a completed launch pina-curve graduate --base-mint <MINT> (any key)

Partner fees accrue per launch in that launch’s quote vault and can be claimed at any stage, including after graduation. Graduation is permissionless: a partner can run a crank that graduates every completed launch, or leave it to whoever trades next.

Integrating a launchpad into another product

A product that wants its own launchpad (a game, a social app, a creator platform) only needs:

  1. a configuration owned by a key it controls, created once;
  2. the client for its stack (TypeScript client, Dart and Flutter client, Rust client, or Calling the curve from another program for an on-chain program);
  3. a way to show launches and their progress: quote_reserve / migration_quote_threshold.

Nothing in the program is specific to one product, and one deployment serves every launchpad.