Documentation

Overview

Every trade in this coin pays a creator fee. The fund claims that fee, buys one of eight memecoins with it, and sends those tokens straight out to everyone holding BASKET, weighted by how much they hold.

It keeps nothing. There is no treasury, no management fee and no allocation to anybody who built it. What arrives is bought and what is bought is sent.

The front page is that loop running. Every figure on it comes from the keeper, and every one shows a dash rather than a guess when the keeper cannot be reached.

How a round works

Fee income arrives continuously and unpredictably. When enough has accumulated to be worth spending, the fund buys whichever holding sits furthest below its target weight, takes a snapshot of who holds BASKET, and sends that coin out pro rata.

The snapshot pays only real wallets. Every token account of the coin is read, its owner resolved, and any owner whose account belongs to a program rather than to the system program is excluded: that is every liquidity pool, vault, escrow and contract, without a list of addresses that somebody has to keep current. Checked against a live 30,000-holder coin, that rule caught twenty-two distinct programs holding roughly 4% of the float, including pools on four different venues. A hardcoded blacklist would have missed most of them and paid tokens into contracts nobody can withdraw from.

The fee wallet is excluded for the same reason it does nothing else. Paying ourselves is not a distribution.

WHY SOME ROUNDS SKIP YOU

Sending a token is not like sending SOL. Each recipient needs an associated token account for that coin, it is rent exempt, and the fund pays for it. Measured, not estimated:

Account rent

0.002039 SOL, per holder, per coin

Transfers per transaction

19, or 9 when the account has to be created too

So opening a 0.002039 SOL account to deliver a 0.0004 SOL share destroys value. Below that floor a holder's share accumulates instead, and goes out the moment it is worth the account. Nothing is kept and nothing is lost: the carry is a debt the fund owes and it is shown as one, on the front page and in the wallet lookup.

Backlog is paid before new shares. Whenever a round gets cut short, by the batch limit or a failed transaction or a restart, it is always a fresh share that waits and never a debt that has already been waiting.

The mandate

I chose these eight. Claiming a formula picked them would read better and would not be true. What I did was choose once, write the list down before the fund had any money in it, and give up the ability to change it afterwards. That is a weaker claim than a formula and it is the accurate one.

The two screens are not matters of taste: no platform or exchange tokens, and no mint whose extensions let somebody else move, freeze or tax the holding. Between them they threw out three tokens that would otherwise have qualified.

Weighting

Rebalancing

Disposals

Mandate set

The eight

Program is the mint account's own owner field, fetched per mint. It is never inferred from the ticker and it is never a constant in the code. Three of the eight are Token-2022, and pinning the legacy program is exactly how an earlier fund of mine spent a whole launch claiming fees perfectly and buying nothing at all, while reporting itself in good health.

Impact is the measured price impact of a 0.25 SOL purchase. Simulation is the real swap transaction, built and run against live mainnet state.

What was excluded

Three tokens were large enough to qualify and are not here. A mandate you only see the survivors of is not a mandate, so the reasons are published.

Settlement limits

A Solana transaction cannot exceed 1232 bytes. It is not a guideline and there is no negotiating with it: a transaction that serialises to 1233 bytes cannot be sent at all.

So the real purchase transaction was built for each holding, at three sizes, against a wallet owning no account for the token yet, which is the worst case because the account has to be created inside the same transaction. The length was read off the finished bytes rather than reasoned about.

Transaction ceiling

1232 bytes

Worst observed

—

Measured across

3 purchase sizes, wallet holding no token account

Impact at 0.25 SOL

under 0.5% on all eight

Impact at 10 SOL

under 1% on all eight

Mainnet simulation

—

Custody

One wallet. It receives the creator fees, it buys, and it sends the result out. It does not create coins, it does not sell, and nothing else is run out of it, because a wallet doing two jobs is a wallet whose books cannot be checked.

It is a transit account, not a treasury. Anything sitting in it is either fees not yet spent or coins not yet distributed, and both are visible on chain.

Fee wallet

Published at launch.

How to verify

Open the wallet on a block explorer and read its token accounts. That is the holding. Nothing on the front page can tell you anything the chain will not confirm.

Proven and not proven

Both halves in the same place, because a page that publishes only the first half is an advertisement.

Disclosure

What is true, and is the only part of this worth anything: every purchase and every transfer is a real transaction with a real signature, the fee wallet is public, and you can check what was sent to your own address without asking me.