LaunchFair Docs

Introduction

Fair token launches
on Solana

LaunchFair is a token launch platform built on Solana that uses bonding curves, time-decaying sell fees, and flywheel mechanics to create a fairer environment for traders. Tokens graduate from the bonding curve into FairSwap — LaunchFair's own AMM DEX — with zero price discontinuity and permanently locked liquidity.

1%
Trading fee that decays to 0% over 7 days
90%
Protocol revenue shared with Raise participants
100%
Liquidity locked permanently at migration

Token Lifecycle

From creation to DEX

Every token on LaunchFair follows a four-phase lifecycle. Each phase has distinct mechanics designed to ensure fair price discovery and protect early participants.

1

Creation

Token is minted with 1B supply, metadata uploaded to Arweave via Irys, and bonding curve initialized with virtual reserves.

2

Bonding Phase

Trading happens on-chain via a constant-product bonding curve. Sell fees decay over 7 days and 20% of all fees stay in the pool as buy pressure.

3

Migration

At 200 SOL real reserves, the token graduates to FairSwap via CPI. 30 SOL goes to the creator, remaining liquidity is locked permanently, and mint authority is revoked.

4

DEX Trading

Trading continues on FairSwap AMM with the same fee mechanics. Hold-time carries over from the bonding phase so existing holders keep their fee decay progress.

Token Creation

Creating a token on LaunchFair is free — no SOL required beyond the transaction fee. The platform handles metadata hosting, mint creation, and bonding curve initialization in a single transaction.

// Token parameters (fixed for all launches)
Total Supply: 1,000,000,000 tokens
Decimals: 6
Metadata: Uploaded to Arweave via Irys
Address Suffix: "fair" (vanity address)

Every token address ends in fair, making LaunchFair tokens instantly recognizable on-chain. These addresses are pre-mined using GPU grinding and assigned at creation.

Phase 2

Bonding Curve

LaunchFair uses a constant-product AMM (x × y = k) with virtual reserves to create a smooth price curve from launch to migration. Virtual reserves set the initial price without requiring upfront capital.

// Virtual reserves at launch
V_sol = 275 SOL
V_tok = 1,591,710,758 tokens
k = V_sol × V_tok
// Constant product invariant
V_sol × V_tok ≥ k
// Price formula
price = V_sol / V_tok
// Starting market cap (~$15k)
mcap = price × 1B tokens
≈ 173 SOL × $87
≈ $15,051

Buy & Sell Formulas

// Buying tokens
tokens_out = V_tok - (k / (V_sol + sol_after_fee))
// Selling tokens
sol_out = V_sol - (k / (V_tok + token_amount))

Price Progression

As SOL enters the pool, the price increases along the bonding curve. The virtual reserves create a smooth, predictable price trajectory.

Phase 3

Migration to FairSwap

When a token accumulates 200 SOL in real reserves, it becomes eligible for migration to FairSwap — LaunchFair's own AMM DEX. Anyone can trigger the migration; no admin action required.

// Migration parameters
Graduation Threshold: 200 SOL real reserves
Graduation Fee: 30 SOL → token creator
SOL to FairSwap LP: 170 SOL (200 - 30)
Tokens to FairSwap LP: remaining pool tokens
LP Lock: 100% locked permanently
Mint Authority: revoked (no more tokens ever)

Zero Price Discontinuity

The virtual token reserves are calibrated so that at migration, the FairSwap pool price exactly matches the bonding curve price. When virtual reserves are removed, the real reserves maintain the same price ratio. Traders see no price drop at graduation.

// Virtual token calibration formula
V_tok = TOTAL × (V_sol + M)² / (V_sol × (2M - fee) + M²)
// Ensures: bonding_price == fairswap_price at migration

Creator Reward

The 30 SOL graduation fee is paid to the token creator as a reward for a successful bonding. This incentivizes quality launches — creators only earn if their token reaches graduation.

Phase 4

FairSwap DEX

FairSwap is LaunchFair's native AMM DEX. After migration, trading continues with the same fee mechanics, the same flywheel effect, and the same sell fee decay — plus permanently locked liquidity.

Dynamic Fees

1% max fee decaying to 0% over 7 days. Per-user tracking via on-chain slot-based timestamps.

Locked LP

All initial liquidity is locked permanently. LP tokens are virtual — no one can rug the pool.

Hold Time Carry

Fee decay progress carries over from the bonding curve. If you held for 5 days on bonding, you have 2 days left on FairSwap.

Constant Product AMM

FairSwap uses the same x × y = k formula as the bonding curve. The pool is initialized with the exact reserves from graduation, ensuring seamless price continuity.

// FairSwap swap formula
k = sol_reserves × token_reserves
Buy: tokens_out = token_reserves - k / (sol_reserves + sol_in)
Sell: sol_out = sol_reserves - k / (token_reserves + tokens_in)
// LP calculation (at migration)
initial_lp = sqrt(sol_reserves × token_reserves)
locked_lp = initial_lp // locked forever

Mechanics

Fee Structure

LaunchFair's fee system is designed to reward conviction and discourage quick flips. Buy fees are a flat 1%, while sell fees start at 1% and decay linearly to 0% over 7 days. A portion of every fee stays in the pool as permanent buy pressure.

Buy Fee

1%

Flat rate on all purchases. No decay, no surcharges.

Sell Fee

1% → 0%

Decays linearly over 7 days. 10-minute penalty phase at full 1%.

Sell Fee Decay

The sell fee uses a slot-based linear decay system. For the first 10 minutes after buying, sellers pay the full 1% fee. After that, the fee decays linearly to 0% over 7 days.

// Sell fee calculation
elapsed = current_slot - first_buy_slot
if elapsed < 1,500 slots (~10 min):
fee = 1.0% // penalty phase
else if elapsed ≥ 1,512,000 slots (~7 days):
fee = 0.0% // fully decayed
else:
fee = 1% × (1,512,000 - elapsed) / 1,510,500

Anti-Dust-Buy Protection

To prevent gaming the decay system with dust buys, the protocol uses a token-weighted average for the first buy slot. If you buy 0.01 SOL at slot 0 and 10 SOL at slot 100,000, your effective first buy slot will be weighted heavily toward 100,000 — preventing free fee decay from a negligible early buy.

The Flywheel Effect

20% of every trading fee stays inside the pool's SOL reserves instead of being extracted. This creates continuous buy pressure — every trade, whether buy or sell, makes the pool slightly richer in SOL, pushing the price up.

How it works

1
Trader buys 10 SOL of tokens. The 1% fee (0.10 SOL) is split: 0.08 SOL goes to the treasury, 0.02 SOL stays in the pool.
2
The extra 0.02 SOL increases the pool's virtual SOL reserves, raising the token's price slightly.
3
This happens on every trade — buys and sells — creating a compounding upward force on price.
4
The more trading volume, the stronger the flywheel. High-volume tokens benefit the most.

Fee Split

All trading fees are split between the protocol treasury and the flywheel. This applies uniformly across both bonding curve and FairSwap trading.

Protocol Treasury
80%

Extracted from pool. 90% of this goes to Raise participants.

Flywheel
20%

Stays in pool reserves. Creates permanent buy pressure.

Ecosystem

The Raise

The Raise is LaunchFair's community funding mechanism. Participants contribute SOL, USDC, or USDT and receive a pro-rata share of 90% of all protocol revenue — forever, or until a token event or buyout occurs.

90%
Revenue Share
Of all protocol fees distributed to Raise participants

Why 90%?

Most token launch platforms extract 100% of fees for the team. LaunchFair gives back 90% to the community that funded it. This aligns incentives: the more the platform grows, the more participants earn. The team retains 10% for operations and development.

Revenue Sources

Trading Fees

0.8% protocol fee on every buy and sell across all tokens on the bonding curve.

FairSwap Fees

Protocol portion of all DEX trading fees post-migration.

Future Revenue

Any additional protocol-generated revenue flows through the same 90/10 split.

Distribution Events

Ongoing Revenue Share — Participants receive 90% of protocol fees pro-rata as the platform operates.
Token Event — If a governance token is launched, 90% of the allocation is airdropped to Raise participants. Revenue share terminates.
Buyout / Acquisition — 90% of buyout proceeds go to participants pro-rata. Revenue share terminates.

Points & Referrals

LaunchFair rewards active traders and community growth through a points system and referral program. Points are tracked on a public leaderboard.

Earning Points

Action Points Details
Trading 100 / SOL Earned on every buy and sell. 5 SOL trade = 500 points.
Referral Volume 50 / SOL Earned when your referral trades. Their 10 SOL trade = 500 points for you.
New Referral 100 flat One-time bonus when someone uses your referral link.

Referral Program

Share your referral link and earn points when your referrals trade. First-referrer-wins — only the first referral link a user clicks is recorded.

// Referral link format
https://launchfair.app/?ref={your_wallet}
https://launchfair.app/token/{mint}?ref={your_wallet}

Leaderboard

The leaderboard tracks the top 50 traders by PnL, points, and token market cap. Top 3 in each category receive special badges.

Security

On-Chain Guarantees

LaunchFair's security model is enforced entirely on-chain. No admin keys can alter the rules after deployment. The following guarantees are programmatic and immutable.

Mint Authority Revocation

At migration, the token's mint authority is permanently revoked via set_authority(None). No new tokens can ever be created. Supply is fixed at 1B.

Permanently Locked Liquidity

All initial LP tokens at migration are set as locked_lp. The smart contract enforces that lp_supply - withdrawal ≥ locked_lp. No one can rug the pool.

Anti-Snipe: Sell Fee Decay

Fast flippers pay the full 1% sell fee. The 10-minute penalty phase and 7-day decay window discourage bot sniping and frontrunning.

Anti-Dust-Buy Protection

Token-weighted averaging of the first buy slot prevents gaming fee decay with negligible early purchases.

Permissionless Migration

Migration requires no admin approval. Anyone can trigger it once the 200 SOL threshold is reached. The smart contract validates all conditions on-chain.

Fair Addresses

Every token launched on LaunchFair has a Solana address ending in fair. These vanity addresses are pre-mined using GPU-accelerated grinding (OpenCL) and assigned from a keypool at token creation. This makes LaunchFair tokens instantly identifiable on any block explorer or wallet.

// Example token address
7o8htfz4Gc2qUbWqHCgsbHwj6ft53JA9T6ys1z7mfair

Reference

Constants Table

Constant Value Description
TOTAL_SUPPLY 1,000,000,000 Fixed token supply (6 decimals)
VIRTUAL_SOL 275 SOL Initial virtual SOL reserves
VIRTUAL_TOKENS 1,591,710,758 Initial virtual token reserves
BUY_FEE 1% (100 BPS) Flat buy fee
SELL_FEE_MAX 1% (100 BPS) Maximum sell fee (penalty phase)
PENALTY_PERIOD 10 minutes Full fee phase after buy
DECAY_PERIOD 7 days Linear fee decay duration
PROTOCOL_FEE 80% Fee portion to treasury
FLYWHEEL_FEE 20% Fee portion staying in pool
MIGRATION_THRESHOLD 200 SOL Graduation trigger
GRADUATION_FEE 30 SOL Paid to token creator
REVENUE_SHARE 90% Protocol revenue to Raise participants

Smart Contracts

LaunchFair runs on two Anchor programs deployed to Solana devnet. Both programs are written in Rust with Anchor 0.30.1.

Launchfair (Bonding Curve)
Hodv7oV5Q6UaKFESAUkE918CDAVupygJkWBveFowtnf2
Token creation, bonding curve trading, fee collection, migration orchestration
FairSwap (DEX)
6LY6s9eiFeUACPMYPye56iJrR24VzW6vG7YJYPybkuc9
AMM pool management, swap execution, dynamic fees, locked liquidity

Tech Stack

Smart Contracts

Rust + Anchor 0.30.1 on Solana

Frontend

Next.js 14 + TypeScript + Tailwind CSS

Database

PostgreSQL + Prisma ORM (Neon)

Metadata

Arweave via Irys (permanent storage)