From fees to stock tokens.

How PennyFun works.

Choose an eligible stock token → launch a coin → collect its creator fees → accumulate the stock token → deliver funded rewards to eligible holders. Each launch has its own immutable policy and isolated budgets.

Choose the treasury asset once. New stock launches use that same token for the trading pair and holder rewards. For example, selecting AMC creates PINKSHEET / AMC against the exact AMC token on Pump.fun. Creator fees arrive in AMC: accumulation and rewards retain those tokens directly, while the buyback budget buys and burns PINKSHEET. Existing SOL pairs collect SOL and buy their selected stock. Previous launches keep their original pair and terms. Stock pairing is available only when the connected operator worker supports it.

Discovery is not admission. The directory distinguishes discovered tokens from exact issuer-matched assets. Create Coin shows assets available for review and reasons others are unavailable. Before signing, the service rechecks independent underlying-share pricing below $5, current issuer eligibility, exact mint and transfer support, onchain admission and market liquidity. Token prices alone do not establish share eligibility.

Launching a coin.

1. Open Create Coin. Select an available treasury asset and enter a name, ticker, image and description.
2. Choose fee allocations totaling exactly 100%, a 15-minute, 1-hour, 4-hour or daily reward period. Settlement thresholds are included in the final policy review; no treasury target is added to a fresh launch.
3. Optionally add a dev buy in SOL, defaulting to zero. For stock pairs, SOL converts into stock tokens at a bounded minimum before those tokens buy the launched coin. Compatible wallets combine this with creation when the complete route fits Solana’s limits; complex routes use a separately reviewed conversion. Confirmed conversions are recovered from their original receipts; if creation stops, the stock tokens remain in your wallet. The amount is shown separately from account rent and network costs.
4. Review the trading pair, selected mints, custody, allocations, reward rules, exclusions and any target transition. Approve account setup, then review and approve coin creation.
5. The worker verifies the finalized coin creation, immutable custody fee assignment and policy commitment before registration.

PNG, JPG and WebP images up to 3 MB are supported. The worker re-encodes images and stores content-addressed image and metadata files in durable content-addressed storage. Hashes are verified before review; these are hosted files, not IPFS guarantees. No metadata URL needs to be pasted.

Policy settings lock at launch. The wallet signs the exact simulated message, including network and priority fees. Wallets supporting version 1 create the coin and commit fee assignment in one transaction, without lookup-table setup payments. Older wallets retain the reviewed lookup-table flow. PennyFun adds no launch charge. The optional dev buy is a token purchase, not a service cost.

Before a separate setup or conversion requests payment, the wallet must have an estimated 0.04 SOL launch-cost budget plus any SOL dev buy. This is an affordability check, not a platform fee or a guaranteed final quote. Actual costs are simulated and reviewed before each approval. A single atomic launch checks its complete simulated cost directly. Unspent SOL stays in the wallet; confirmed setup is reused when finishing a saved launch. Creation costs include both operator-funded rent and accounts funded directly by the launching wallet.

PENNY can appear as a treasury-asset candidate only when its mint, official curve, supported transfer state and liquid market verify. It is a memecoin, not a stock. An unavailable candidate cannot be selected. The selector’s available options are the source of truth; discovery is broader.

Treasury allocations and targets.

The suggested split is 70% retained selected-stock accumulation, 20% selected-stock rewards for eligible holders of that launched coin, and 10% buybacks and burns of that launched coin. Percentages apply only to collected creator fees, not trading volume or every Pump.fun fee. Custom supported splits must total exactly 100%.

Each finalized fee receipt credits independent budgets. Integer cumulative rounding preserves all funds, including reserved dust. Unrelated wallet deposits, other launches’ assets and PENNY’s own proceeds do not count as this launch’s income. There is no discretionary withdrawal route. Network fees and account rent use a separately funded operating reserve. Swap spread, venue fees, slippage and price impact affect stock-token output and are disclosed through transaction receipts.

Creator fee rate and allocation are separate.

New stock-quoted launches can choose Standard, 0.3%, 0.5%, 1%, 2% or 3% creator fees. Standard sends zero as the protocol option, meaning Pump’s schedule; it does not promise a zero trading fee. Custom rates require live quote-control support and cannot exceed Pump’s current cap. Protocol fees are additional. The selected rate is committed with the launch, used in dev-buy pricing, and checked against the finalized curve. Existing launches keep their original configuration.

For AMC-paired coins, collected fees already arrive in AMC tokens. The 70% allocation retains AMC directly in that coin’s treasury, 20% reserves AMC for eligible holders, and 10% funds that coin’s buybacks and verified burns. No additional stock purchase is invented. Retained inventory is separate from rewards, and one base unit can remain reserved through cumulative rounding.

Existing treasury targets.

Previously saved or finalized policies may specify selected stock-token units. For example: “Accumulate 1,000 stock tokens. Once reached, future creator fees previously assigned to accumulation fund additional eligible holder rewards.” The target and post-target split are reviewed and locked together. Under 70 / 20 / 10, the post-target split is 0 / 90 / 10.

Only finalized retained-stock purchase receipts advance the target. Reward inventory, deposits and other launches’ balances are excluded. The entire purchase that crosses the target, including overshoot, stays retained. No partial purchase is retrospectively relabeled. Previously credited accumulation budgets also retain their purpose; only later finalized fee credits use the new split.

The crossing receipt creates one atomic transition and a new cumulative rounding epoch. Old allocation dust stays reserved. Duplicate receipts and restart recovery cannot apply the transition again. Targets are unavailable unless the worker reports compatible execution, complete holder-history support and reward eligibility. A progress bar shows receipt-derived retained units against the target.

Existing version-1 policies remain 100% accumulation. Existing version-2 policies retain their exact allocations and schedule. Neither silently acquires a target or new rules.

Holder rewards and eligibility.

Rewards belong to eligible holders of the launched coin, not automatically to PENNY holders. New launches support every 5 minutes, every 15 minutes, every hour, every 4 hours, every day. Existing weekly launches retain their locked Monday 00:00 UTC calendar. The first period starts at finalized creation and may be shorter. A period countdown is not a payout promise.

New snapshot-policy launches pay eligible holders in proportion to their balances at the verified snapshot. Buying during the round is allowed. A wallet that sold the launched coin during that round is excluded. Ordinary transfers are not automatically classified as sales. Unrecognized outgoing trade routes pause verification rather than guessing. Wallets at or above 5% of supply, treasury, pool, burn and program accounts are excluded. The worker saves the finalized snapshot and checks the relevant token-account transactions before allocation. Missing evidence leaves funds reserved for retry.

Earlier locked policies retain their original balance × time-held rules. Under ordinary-system-wallet-v1, treasury and burn wallets, off-curve pool authorities, program-owned accounts and published additional exclusions are ineligible. Custodial or pool wallets with ordinary on-curve authorities must be identified in the additional exclusion list before launch. There is no claim that a pool can always be identified automatically.

Funded stock tokens are allocated proportionally after the period closes. Rounding and periods with no eligible weight roll forward. Each holder’s smaller entitlements accumulate until the published minimum payout is reached. Retained stock inventory is separate from funded reward inventory; unpaid entitlements are liabilities within that reward inventory, never an additional balance.

Issuer and recipient eligibility are enforced before allocation and rechecked before delivery. Missing or expired reviews, frozen accounts, unsupported token extensions or unavailable transfer routes pause rewards with a reason. Backpack admission uses exact mint and live transfer-state checks; reviewed issuer assets require current issuer-specific treasury and recipient records. Technical support is not personal or geographic eligibility clearance.

Only an exact finalized recipient credit counts as delivered. Buybacks count separately from burns, and only verified supply destruction counts as burned. No fixed yield, token amount or delivery time is promised. More frequent settlement can use more operating gas without increasing funded rewards.

PENNY’s own economics.

PENNY’s intended trading pair is PUMP. Its configured mint must exist and the official curve or canonical pool must verify the actual quote before that pair is called verified. The configured PENNY mint was absent in the read-only mainnet audit on 21 October 2026; intended identity is not proof of a live pool.

A dedicated creator-wallet collector can account for SOL or the exact official PUMP mint in separate buckets. PUMP has 6 decimals; native SOL uses 9. PUMP fee amounts are never treated as lamports. Supported PUMP collection uses official quote-specific V2 instructions, simulation, exact message checks, authenticated finalized events and durable signed-wire recovery. It requires explicit activation and a PUMP-unit claim threshold. No token conversion is active.

Creator vaults aggregate across coins. Only a dedicated PENNY-only creator wallet can support that proposed funding scope; collection is not independent per-mint income attribution. Platform launches have no implemented revenue route to PENNY. Their treasuries never fund PENNY’s programs.

PENNY’s revised creator-fee model assigns 40% to an automated stock-token treasury, 30% to PENNY-holder airdrops, 15% to ecosystem-holder rewards and 15% to PENNY buybacks and verified burns. These are shares of PENNY’s own collected creator fees, separate from each community coin’s locked policy.

The holder-airdrop budget is intended for supported stock tokens and PENNY. Exact asset selection, the ecosystem-holder recipient population and capped vault-release rules must be published and verified before activation. New no-sell snapshot policies allow purchases during the round and exclude sellers; transferring or selling reduces subsequent eligible balance-time. No random selection or automatic distribution is claimed as operational. Below-minimum entitlements remain reserved and roll forward. Allocation percentages are not evidence of funding, spending or completed delivery. PUMP remains PENNY’s intended trading quote, independently verified from any treasury or payout asset. Execution remains inactive.

PENNY fee dashboard: proposed policy and actual activity ↗

Custody, controls and asset rights.

What “Community Treasury” means

A Community Treasury is a memecoin community accumulating its selected stock token through collected creator fees. The name describes the purpose of the launch; it does not establish a DAO or shareholder rights. Each launch’s existing allocations, reward schedule and supported target policy stay locked under its published terms.

Holder proposals on future treasury targets and accumulation strategies are planned features, not active voting powers. They do not change existing policies. Eligible holders receive only funded rewards under the launch’s reward rules; retained treasury inventory is not promised for distribution.

Allocations are committed onchain by a policy-hash memo and an immutable Pump.fun creator-fee assignment to the declared custody. Execution currently depends on the operator, signer and worker. This is not trustless escrow. The operator controls the treasury wallet and infrastructure; receipt checks do not remove that custody risk.

Holding a memecoin grants no ownership of treasury stock tokens or underlying shares, no voting or redemption rights and no guaranteed price floor. Backed products are tracker certificates; Backpack has its own tokenized-security terms. Stock-token issuers retain their documented controls and restrictions. A treasury’s current market value is not holder backing.

Read each launch’s exact mints, issuer documents, custody address, immutable rules, operational status and finalized receipts on its public treasury page. Assets can lose value, markets can become illiquid and transfers can pause. A price change is separate from a new purchase.

Current discovery totals exclude owner-retired launch tests. Removing a test listing does not erase its original policy, transaction records, retained inventory or outstanding holder entitlements.

Public transaction evidence.

Configuration checks, local tests and finalized public transactions answer different questions. A green configuration panel is not a completed transaction test. The public treasury directory uses finalized launch registration and worker-verified receipts, with honest empty states until those records exist.

Finalized receipts appear on each current launch’s treasury page. Retired test launches and their activity are excluded from discovery and current-listing statistics. Local compiled-program tests exercise claims, rewards, buybacks, burns and recovery. They are not public mainnet evidence.

No complete hosted public-mainnet creator-fee → stock purchase → holder reward cycle is currently evidenced. No public PUMP creator claim or treasury-target transition is represented as completed.

Treasury size ranks retained units × a fresh liquid USD quote. Delivered-reward size uses actual delivered units marked at the current quote, not their historical dollar value. Accumulation efficiency is retained-stock acquisition SOL ÷ collected creator-fee SOL. Reward delivery ratio is delivered stock units ÷ units bought for rewards. These are separate comparisons, not returns. Trading volume is not treasury growth. Quotes carry observation times; missing or stale quotes disable value rankings.

Technical operations.

Execution and durable recovery.

The worker serializes signing under a SQLite WAL lease and writes the exact signed transaction before broadcast. Timeouts keep the same signature pending. Finalized message and balance checks settle a receipt once; reverts preserve fee budgets apart from separately funded gas. Unknown outcomes do not authorize replacement spending. A missing acceptable route, invalid receipt or depleted reserve leaves funds unspent with a pause reason.

Stock execution uses exact-input SOL routes, either direct or through native USDC, with bounded slippage, price impact, input and transaction costs. A USDC intermediary must leave existing balances unchanged; a new intermediary account must finish empty. Simulation and finalized receipts verify the destination, exact output mint, minimum received and absence of unrelated token changes. Existing stock holdings cannot disguise output. Purchases stop below the configured minimum; reward entitlements below the locked payout threshold roll forward. Lower-liquidity stocks require a fresh sized route check before launch. Large purchases may be reduced within the same budget to meet the impact limit. The stock directory separates underlying company market cap, retained token inventory and reserved holder rewards.

Active-session admission requires independent real-time underlying-share data no older than 15 minutes. When Nasdaq explicitly reports a closed market, its dated reference must match the latest completed session and expires at the next session opening. Preparation and finalized registration validate the same sealed launch-time quote. Data outages, malformed calendars and expired references stop new launches rather than substitute a DEX quote.

xStocks secondary transfers.

VIDAx and DFDVx use issuer-published Solana mints and an explicitly configured secondary-market adapter. This permits supported public token transfers, not primary issuance or redemption, and does not attest to a user’s legal or geographic eligibility. Existing issuer restrictions still apply. Mint pauses, active hooks, frozen recipient accounts and unsupported token-state changes stop execution before signing.

DFDVx targets and payout thresholds use unscaled token units (base units divided by 10^8). Its reviewed wallet-display multiplier is 1.01472895118. Display rebases do not count as purchases or new funded rewards. Transfers pause if the reviewed scale configuration changes. Inventory valuations and value-based rankings for DFDVx are withheld until the quote’s unit basis is independently verified.

Developer diagnostics.

Developers can inspect local execution diagnostics using isolated test assets. These checks do not launch a coin, collect mainnet fees or establish production transaction evidence. Treasury processing runs automatically; users do not need to start it.

Services and environment.

Vercel hosts the site, wallet reviews and scheduled worker. The complete transaction journal is checkpointed to private Blob storage with conditional writes before broadcasting. Temporary function files are never the durable source of financial state.

Set matching PENNY_NETWORK, SOLANA_RPC_URL, PENNY_TREASURY_ADDRESS, worker authentication and launch-ticket secrets on the appropriate server services. Configure the archive RPC, issuer mode and recipient policies before enabling rewards. Keep private signing keys only in the active worker host’s server-only secret input: PENNY_OPERATOR_PRIVATE_KEY for launch-level execution and a separate PUMP_CREATOR_PRIVATE_KEY for PENNY’s creator wallet. No secret belongs in browser variables or Git.

The former Railway collector has been retired. Vercel’s scheduled worker is the active host. The current collector status is published in PENNY’s economics above; an enabled collector can still be waiting for a verified mint or claimable fees. Launch-level automation is separate. PENNY ecosystem distributions still require an approved, configured and funded policy.

For PUMP collection, bind PENNY_CREATOR_QUOTE_MINT to the verified quote, configure PENNY_PUMP_MINIMUM_CLAIM_RAW in 6-decimal PUMP base units and review PENNY_PUMP_FEE_COLLECTION_ENABLED. Collection requires explicit activation for a verified quote. PUMP cannot pay SOL network costs. No PUMP conversion or ecosystem distribution adapter is active.

Server configuration and private operational runbooks are maintained with the repository. Thresholds are configurable; runtime values and locked launch settings take precedence over examples. Check current configuration below and finalized processing evidence on each treasury page.

Configuration versus transaction acceptance.

Supported instructions are documented by Pump.fun and Jupiter. Asset discovery is not issuer approval; read Backed legal documents and the selected asset’s issuer terms.