FAQ

A pooled first buy. Your deposit, in the launch's quote asset, joins the raise; at launch the raise buys the coin's first tokens on Raydium LaunchLab and they sit in the launch's vault. You own a pro-rata claim on what the vault pays backers: 10% of creator fees, payback once the vault reaches 5×, and the vault's quote if the launch winds down. Backing is not an investment in a company or a fund, the coin is not a share of anything, and the vault can go to zero. For backers ›

Everyone is refunded in full, in the quote asset they deposited. If the raise misses its minimum by the deadline, the creator cancels, or it isn't launched within 3 days of the deadline, each backer claims 100% of their deposit back. For backers ›

Only when the vault earns it: once the vault's liquid quote (tokens don't count) is 5× what went in at launch, the agent may pay backers their principal, then 15% of the vault per payout, never more than one payout every 4h. Under 5×, nothing is paid; buying back dips always comes first, and no payout takes the vault below its floor. There is no fixed timeline, and many launches will never get there. For backers ›

No. The bundle is bought by the launch instruction and held in the vault, and the creator has no instruction that touches it. Only the vault agent trades it, on the LaunchLab curve and later the CPMM pool, within its on-chain rules. The platform admin key (a single key at launch; it is also the program's upgrade authority) and a single dev key can withdraw a vault; every withdrawal is an on-chain event on the launch page. The vault ›

It's what a launch is priced and raised in, picked by the creator at creation and permanent: SOL (held as wrapped SOL), USDC, or a tokenized stock such as SPYx or NVDAx. A coin quoted in NVDAx is measured in NVDAx: its chart, its vault's reserve and its payback are all counted in it, so in USD the reserve moves with the stock, both ways. Prices also show in USD. Choosing a quote ›

No. xStocks, the tokenized stocks Backstock lists, are not available to US persons, and other restrictions apply by jurisdiction. Launches quoted in SOL or USDC don't involve them, but check your own rules before backing anything. Risk ›

Tokenized-stock issuers keep powers over their tokens: they can pause all transfers, freeze an account, and for xStocks move or burn tokens from any account through a permanent delegate, a launch's vault included. While transfers are paused, launches, agent trades, payouts and graduation fail cleanly and the agent stands down; nothing in the launch's accounting breaks, but nothing moves either. Risk ›

On Raydium, not on this site. Every coin starts on a LaunchLab bonding curve priced in its quote asset; each curve trade pays 1.25% in the quote asset (0.25% to Raydium, 0.5% to Backstock, 0.5% creator fee to the launch). When the curve has sold 79.31% of supply, Raydium migrates the coin to a CPMM pool at the same price with the liquidity locked: that's graduation. The vault agent follows it to the pool. For traders ›

The creator fee lands in the launch itself and is split 75% to the vault, 15% buys back and burns the Backstock token and 10% to backers; creators take 0%. Backstock also takes a 1% launch fee from the raise (to the treasury), a flat SOL create fee and its 0.5% share of the curve fee. Each launch freezes its split at creation; platform changes only apply to launches created afterwards. Fees ›

The reserve is what the vault agent buys dips with. It can only buy at least 2% under the EMA, and only at or below the vault's average cost or as a buy-back under its average sell price, so the reserve is never spent chasing price. What the agent sells joins it: all sale proceeds stay in the vault. Agent rules ›

The vault stops trading and no payback runs until it's back. Public trading on Raydium carries on, and the agent's heartbeat is public. Agent status ›

Once a launch is at least 3 days old, no vault trade for 24 hours, and wallets outside the vault and the venue hold 5% of the supply or less, anyone can call wind_down: the vault sells what it holds and all of its quote goes to backers pro-rata. That can be less than what they put in; it's the worst case short of zero. The vault ›

Every rule is an account or instruction you can open: the instruction list above comes from the program's IDL, every agent action is an on-chain Trade event, and every token page has a Verify on-chain panel with explorer links. Verify on-chain ›