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.
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.
Creation
Token is minted with 1B supply, metadata uploaded to Arweave via Irys, and bonding curve initialized with virtual reserves.
Bonding Phase
Trading happens on-chain via a constant-product bonding curve. Buy fee is a flat 1%, sell fees start at 1% and decay to 0% over 7 days. 20% of all fees stay in the pool as buy pressure (flywheel).
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.
DEX Trading
Trading continues on FairSwap AMM with a different fee structure: a flat 0.1% protocol fee goes to treasury, plus a dynamic LP fee starting at 1% that decreases by 0.05% for every 500 SOL in the pool (floor: 0.05%). Higher liquidity means lower fees for traders.
Token Creation
No fee is required to launch a token on LaunchFair. The platform handles metadata hosting, mint creation, and bonding curve initialization in a single transaction.
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.
Buy & Sell Formulas
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.
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.
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, the fee structure changes: a flat 0.1% protocol fee goes to treasury, plus a dynamic LP fee that starts at 1% and decreases as pool liquidity grows — rewarding deeper pools with lower trading costs.
Dynamic LP Fees
1% LP fee decreasing by 0.05% per 500 SOL in pool, floor at 0.05%. Plus 0.1% flat protocol fee.
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.
Mechanics
Fee Structure
LaunchFair uses two distinct fee structures depending on the trading phase. During the bonding curve phase, fees reward conviction and discourage quick flips. After migration to FairSwap, fees shift to a dynamic model that rewards liquidity depth.
Bonding Curve Fees
Applied during the bonding phase (pre-migration). Split: 80% treasury / 20% flywheel.
Buy Fee
Flat rate on all purchases. No decay, no surcharges.
Sell Fee
Decays linearly over 7 days. 10-minute penalty phase at full 1%.
FairSwap DEX Fees
Applied after migration to FairSwap. Dynamic fees that decrease as pool liquidity grows.
Protocol Fee
Flat rate on every trade. Goes directly to treasury.
LP Fee
Starts at 1%, decreases by 0.05% for every 500 SOL in the pool. Floor: 0.05%. Stays in pool reserves.
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.
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
After migration to FairSwap, the entire dynamic LP fee stays inside the pool's SOL reserves instead of being extracted. This creates continuous buy pressure — every trade makes the pool slightly richer in SOL, pushing the price up. The more volume a pool does, the stronger the flywheel effect.
How it works
Fee Split
Fees are split differently depending on the trading phase. During bonding, it's a fixed 80/20 split. On FairSwap, the protocol takes a flat 0.1% and the dynamic LP fee stays entirely in the pool.
Bonding Curve (Pre-Migration)
Of the 1% fee. Goes to treasury — 90% shared with Raise participants.
Of the 1% fee. Stays in pool reserves as permanent buy pressure.
FairSwap DEX (Post-Migration)
Flat rate on every trade. Goes to treasury — 90% shared with Raise participants.
Dynamic fee that stays in the pool. Decreases by 0.05% per 500 SOL in reserves.
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.
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
80% of the 1% fee (0.8%) on every buy and sell across all bonding curve tokens goes to treasury.
Protocol portion of all DEX trading fees post-migration.
Any additional protocol-generated revenue flows through the same 90/10 split.
Distribution Events
Product Roadmap
LaunchFair is building a full-stack DeFi ecosystem on Solana. Each phase introduces a new product that plugs into the existing infrastructure.
LaunchFair
The foundation of the ecosystem. A token launch platform with bonding curves, flywheel fees that create permanent buy pressure, time-decaying sell fees that reward conviction, and automatic migration to our own AMM DEX. Free token creation with vanity "fair" addresses.
SwapFair
LaunchFair's native AMM DEX. Tokens that graduate from the bonding curve migrate seamlessly into SwapFair pools with zero price discontinuity and permanently locked liquidity. Features dynamic fees that decrease as pool liquidity grows, a flywheel mechanism where LP fees stay in reserves as permanent buy pressure, and hold-time carry so your fee decay progress transfers from bonding to DEX.
ChartFair
A full-featured token analytics and charting platform built for the LaunchFair ecosystem. Real-time candlestick charts, holder distribution analysis, wallet tracking, trade history, liquidity depth visualization, and token discovery — all at a fraction of the cost of existing solutions. Designed to be the go-to analytics layer for every token launched through the platform.
TradeFair
A professional trading terminal purpose-built for Solana. Fast execution with optimized transaction routing, advanced order types including limit orders and take-profit / stop-loss, real-time PnL tracking, portfolio management, and multi-chart layouts. Everything a trader needs in one interface — no more switching between five different tabs.
RaiseFair
A decentralized fundraising platform where teams and projects can raise capital directly through LaunchFair. Projects submit proposals, the community votes with their capital, and funds are distributed based on milestone completion. Transparent, on-chain governance for project funding — giving builders a fair path to funding and contributors a real stake in what gets built.
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
Every connected wallet is assigned a unique 12-character referral code. Share your referral link and earn points when your referrals trade. First-referrer-wins — only the first referral link a user clicks is recorded.
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.
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 |
| MIGRATION_THRESHOLD | 200 SOL | Graduation trigger |
| GRADUATION_FEE | 30 SOL | Paid to token creator |
| PROTOCOL_FEE_BPS | 10 (0.1%) | FairSwap flat protocol fee |
| LP_FEE_START | 100 (1%) | FairSwap initial LP fee |
| LP_FEE_STEP | 5 (0.05%) | LP fee decrease per SOL step |
| LP_FEE_SOL_STEP | 500 SOL | SOL threshold per fee reduction |
| LP_FEE_FLOOR | 5 (0.05%) | Minimum LP fee |
| 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 0.32.