Opening alignment
The two curves open at different values in dollars. Alignment closes that gap before anyone can trade the difference.
The numbers
At 115 dollars per SOL and 2,566 dollars per ETH:
| pump.fun | Pons | |
|---|---|---|
| Opening FDV | 27.96 SOL, about $3.2K | 1.68 ETH, about $4.3K |
| Gap | 25 % cheaper | 34 % dearer |
The move
Pons cannot open lower than it does, so the maker buys on pump.fun. A buy on a constant-product curve moves the price with the square of the reserve ratio. To lift pump.fun by 34 %, its virtual SOL has to rise by about 16 %, from 30 to about 34.7 SOL. After the 1.25 % fee that is a buy of about 4.8 SOL.
target: usdPricePump = usdPricePons
solve: pumpBuy(x) lifts pump.fun to the Pons price in dollars
cost: x ≈ 4.8 SOL, about $550The engine solves it by bisection, so any rate and any creator tax work. The rate matters: if SOL rises, pump.fun opens dearer in dollars and the alignment costs less.
What the creator pays
| Item | Typical |
|---|---|
| Alignment buy | about 4.8 SOL |
| Fee on the buy | 1.25 % |
| What comes back | the tokens it buys, 14 % of the supply, stay as pool inventory and are sold later when pump.fun runs ahead |
The alignment buy is a purchase, not a fee. Its tokens come back to the pool as cash when the maker sells them on pump.fun.
Why align at all
Without alignment the first trader buys on pump.fun and sells on Pons for a 30 % gain, paid by the coin's first holders. Aligning removes it.