Glossary

Alignment. The one buy that brings the two opening prices, in dollars, together at launch.

Band. How far apart the two prices, in dollars, may drift before the maker acts. Default ±5 %.

Bonding curve. A program that sells and buys a token against a reserve at a price set by a formula. pump.fun and Pons both launch coins on one.

Creator fee. A fee on every trade paid to the coin's creator. pump.fun has a fixed 0.30 %, Pons a creator tax of 0 to 10 %.

Fee sharing. pump.fun's mechanism that splits a coin's creator fees between several wallets. It can be set once.

FDV. Fully diluted value, the price times the total supply of 1 billion.

Graduation. The moment a curve has sold enough of the supply and moves the rest into an open pool.

Inventory. The tokens the pool holds after a buy, which it sells on the dear chain later. Kept per chain.

Keeper. The service that launches coins, aligns them and runs the maker, from the pad's wallets.

Maker. The rule the keeper runs for each coin that trades the two curves back together.

Pons. The launchpad on Robinhood Chain with a constant-product curve and a creator tax.

Pool. The pad's cash and inventory used by the maker, kept on both chains.

pump.fun. The launchpad on Solana with a virtual-reserve bonding curve.

Retire. What the keeper does after graduation: stop trading, sell what it can, return cash and inventory to the pool.

Spread. usdPricePump / usdPricePons - 1.

Vault. One per coin on Robinhood Chain. Holds the coin's ETH cash and Pons inventory and receives its Pons creator fees.