Docs
Narrative Bucket is a memecoin with a reserve. Everything below is what the program does on chain; nothing here is a promise about price.
What it is
A creator picks 3 to 6 coins of one narrative and launches one coin for all of them. That coin has its own curve, priced in units of the basket, so it can run like any memecoin. Behind it sits a reserve: the coins themselves, held by the program.
Every coin page shows two numbers: the price on the curve, and the reserve per coin. The first is what buyers pay; the second is what the pail holds behind each coin in circulation. They differ, and the page says by how much.
The coin of a narrative trades only through this program. It is not on pump.fun or any other venue; this site is where it trades.
Who goes in
- Only coins that left the pump curve for PumpSwap. Anyone can put a coin on the watch list; the watch account rent is about 0.005 SOL.
- A watched coin can go in once its pool kept at least 30 SOL in every check for 10 minutes in a row (at least 5 checks).
- Each coin weighs 10-50 % at launch, the weights add up to 100 %, no coin twice.
- After launch the coins in a pail never change, except when the program cleans out a dead one.
Buy
Every buy buys every live coin of the pail in the same transaction, each on its own PumpSwap pool. The first buy (by the creator) splits by the launch weights; after that a buy splits in proportion to what the pail already holds, so nobody can dilute the holders. You get coins of the narrative off its curve for the units of basket that came in.
No part of a buy may take more than 3% of a coin's pool, and a buy is at least 0.01 SOL. Your minimums (slippage) are checked on chain.
Sell and redeem
Sell: your coins go back down the curve; the pail sells your share of every live coin and of its cash and pays you SOL in one transaction. Shares too small to sell stay in the pail.
Redeem: no swaps; you take your share of every coin straight to your wallet, plus your share of the cash. Redeem works even while buys are paused.
Dead coins
A coin is dead when its market cap stays under its pool floor x1.3 or 10 SOL, whichever is higher, in every check for 30 minutes. The pool floor is the market cap the coin would have with every coin sold back into the part of its PumpSwap pool that can never leave (the liquidity burned at migration), about 17.6 SOL for a fresh pool and more once trading fees grow the pool. Under x1.3 of it means about 88% of the coins are back in that pool. Liquidity someone else adds to the pool does not move the floor of a live coin; it can be withdrawn, so it does not count. Market cap = the coin's stored pool price x its 1B supply; the stored price moves at most 20% from the recent median per check, so one pumped trade cannot reset the count, only a recovery that lasts. Then anyone can mark it dead. Its share is then sold in chunks of at most 0.25% of the pool, each guarded by a median price (3% tolerance), and the SOL is bought back into the live coins. While a large dead share is being sold, buys wait; sells and redeems keep working. If you sell for SOL during that time, your part of the coin still being sold stays in the pail for the holders who remain; redeem pays it out to you in kind instead. A dead share up to 1% of the pail is written off at once instead.
Every cleanup step is permissionless: our keeper presses the buttons, and so can anyone.
Fees
1% on buys (on top) and on SOL sells (from the payout): 0.5% to the bucket's creator, 0.5% to the pad. On a redeem the same share of each coin stays in the pail for the holders. Pump.fun creator fees of the coins in a pail are not touched.
Parameters
Written into the program's config at launch (these are the launch values). The admin can propose new values within fixed bounds; they wait 24 hours and apply only to buckets created after that.
coins per bucket | 3-6 | fixed at launch |
weight | 10-50 % | each coin at launch |
fee | 1% | 0.5% creator, 0.5% pad |
max impact | 3% | of one pool per buy |
admission | 30 SOL | pool kept for 10 minutes |
dead line | floor x1.3 or 10 SOL | market cap under the higher one for 30 minutes |
cleanup chunk | 0.25% | of the pool per sale |
median guard | 3% | allowed gap to the median price |
write-off | 1% | dead share taken out at once |
min buy | 0.01 SOL | |
supply | 1,000,000,000 | fixed, mint and metadata authority dropped at launch |
Trust points
- Program
BktbxEJsKPf6sKBxtRk2rVJYgXzGFWemsfAVNgNEwBeM. The admin can never move a reserve, the cash, owed fees or the coins on the curve. The program goes on chain at launch; until then this site makes no on-chain calls. - PumpSwap and pump are third-party programs that can be upgraded. A change there can stop buys and SOL sells; redeem in kind needs no swap and keeps working.
- Admission reads pool liquidity, death reads market cap at a clamped median price. A single pumped trade resets neither; a flash deposit cannot buy anything, because every buy is capped by the live pool.
- Median prices move at most 20 % per check: after a real crash the cleanup waits a few minutes for the median to follow.
- A coin is not an index, a fund or a promise: the reserve moves with the prices of memecoins, and the curve price can sit above or below it.