> For the complete documentation index, see [llms.txt](https://stonkfun.gitbook.io/stonkfun-docs/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://stonkfun.gitbook.io/stonkfun-docs/getting-started/what-is-stonkfun.md). # What is StonkFun? StonkFun is a token launchpad on Solana. It does three things. It mints a fixed-supply token: 1 billion units, 9 decimals, no mint authority, no freeze authority, and metadata stored permanently on Arweave. It opens a market for that token on Raydium's concentrated liquidity AMM, seeded one-sided with the entire supply so the token starts at a `$5,000` market cap and has no price ceiling. Then it locks that liquidity forever through Raydium's Burn & Earn program, and routes the fees the locked liquidity earns to whoever the launch's fee model says should get them. ## Paired with anything The defining feature is the quote token, meaning the asset your token trades against. Rather than everything being denominated in SOL, a StonkFun launch picks its pair from a curated registry that currently spans: | Category | What it holds | | ---------- | --------------------------------------------------------------------------------------------------------------- | | xStocks | Tokenized public equities (NVDAX, TSLAX, AAPLX, SPYX, GLDX) | | PreStocks | Tokenized pre-IPO companies (ANTHROPIC, OPENAI) | | Sunrise | Backpack-issued tokenized assets | | Currencies | Stablecoins and fiat-referenced tokens | | Leverage | Leveraged exposure tokens | | Solana | Wrapped SOL | | Custom | Any mint a creator pastes in, subject to the [safety audit](/stonkfun-docs/core-concepts/quote-token-safety.md) | Your token's chart is denominated in that asset. A coin paired with NVDAX rises when it outperforms Nvidia, not when it outperforms SOL. ## What a launch creates on-chain A single standard Raydium launch produces: | Account | Purpose | | ------------------------------------------------ | -------------------------------------------------------- | | SPL or Token-2022 mint | The token itself. Authorities revoked at creation. | | Metaplex metadata | Name, symbol, logo URI, socials. Immutable. | | Raydium CLMM pool | The market. Fee tier and tick spacing fixed at creation. | | Observation account | Raydium's TWAP oracle for the pool. | | Tick-array bitmap extension and 2 tick arrays | The price grid the position spans. | | Two pool vaults | Hold the pool's base and quote balances. | | Position 1, plus its lock record and Fee Key NFT | The platform's locked liquidity. | | Position 2, plus its lock record and Fee Key NFT | The creator's (or flywheel's) locked liquidity. | Both positions span identical ticks, so each one's share of trading fees is exactly proportional to the liquidity it holds. That is checked on-chain before either position is locked. See [Burn & Earn and Fee Keys](/stonkfun-docs/core-concepts/burn-and-earn.md). ## What it is not It is not a bonding curve that graduates to a pool. The real CLMM pool is created at launch, so there is no migration step and nothing to graduate into. Graduation on StonkFun is a market-cap milestone rather than a venue change. It is not custodial. The platform creates the pool, but the creator signs their own fee payment and their own fee claims, and no private key is ever transmitted. It is not a place where liquidity can be pulled. Both launch positions are locked through Raydium's Burn & Earn program. The position NFT is consumed, and only the Fee Key remains. A Fee Key can collect fees but cannot withdraw liquidity. ## The economic loop ``` Trader swaps on a StonkFun pool │ ├─ LP fee accrues to the two locked positions │ │ │ ├─ Creator Fee Key ──► creator claims from the token page or API │ │ │ ├─ Platform Fee Key ──► 60% buys $STONK on the open market and burns it, │ │ 40% goes to the treasury │ │ │ └─ Flywheel Fee Key ──► buys back and burns the platform's top 15 tokens │ by market cap │ └─ On a reward coin, the Token-2022 transfer tax is withheld on every transfer │ └─ collected, swapped to the quote token, and paid to holders pro-rata ``` Every arrow in that diagram runs automatically on a schedule, with no manual step. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. 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