How PvE works

Player versus Environment: traders compete with the market, not with bots that buy the first block and sell into everyone who follows.

1
Launch
Anyone can launch a token on a Meteora Dynamic Bonding Curve, and each ticker can only be launched once. Every launch in a mode shares one on-chain config, so the rules are identical for every creator and can't be changed once a token is live.
2
Sniper tax
For the first 5 minutes of a fair launch, every trade pays a fee that starts at 50% and decays to 1.0%. The creator's own first buy pays it too. Most of it goes to the treasury rather than to whoever bought first.
3
A curve that deepens as it grows
The curve is thin at the bottom and deepens as the price rises. Less supply sits at the lowest prices, which limits what the earliest buyers can take, and liquidity is deepest by the time a launch graduates.
4
Graduation
When the curve fills, the token migrates to a Meteora DAMM v2 pool and all of its liquidity is permanently locked. The pool fee steps down as the price grows, so established tokens are cheaper to trade.
5
Fees support the winners
Each epoch, the treasury claims platform fees from every launch, including those that stalled. It pays out each launch's theme and holder shares, sends a share to charity, and buys into the graduated launches with the most sustained activity, adding that position as permanently locked liquidity.

Launch modes

Creators choose a mode at launch, and it can't be changed afterwards. Every mode uses the same curve, graduation and treasury.

Fair launch

A 50% sniper tax that decays to 1% over five minutes.

Sniper tax: 50% → 1.0% over 5 min.
Meteora's protocol receives 20% of every fee. Of the remainder, 20% goes to the creator and 80% to the PvE treasury.

Heavy shield

An 80% sniper tax that decays to 1% over fifteen minutes.

Sniper tax: 80% → 1.0% over 15 min.
Meteora's protocol receives 20% of every fee. Of the remainder, 20% goes to the creator and 80% to the PvE treasury.

Creator vesting

Keep 5% of supply, locked at graduation and vested after.

Sniper tax: 50% → 1.0% over 5 min.
Meteora's protocol receives 20% of every fee. Of the remainder, 20% goes to the creator and 80% to the PvE treasury.
5% of supply is reserved for the creator. It is locked at graduation, then released in 30 installments over 30 days, beginning 7 days after graduation.

Holder rewards

Waive your fee share; half of platform fees go to holders.

Sniper tax: 50% → 1.0% over 5 min.
Meteora's protocol receives 20% of every fee. The creator receives none; the remainder goes to the treasury, which pays 50% of it to holders.

Themes

A launch can carry up to 3 themes. Themes organize the board, and each one directs a share of the launch's platform fees to a specific purpose. The treasury carries them out every epoch, and every payment, burn and locked position is listed on the Treasury page. Combined shares are capped at 100% of platform fees; anything not directed elsewhere stays with the treasury to support runners.

Community

Holder airdrops

25% of its platform fees are paid to its holders in SOL, in proportion to what they hold.

Charity

50% of its platform fees go to the charity it names.

Stocks

Stock airdrops

25% of its platform fees buy the tokenized stocks it names and airdrop them to its holders, in proportion to what they hold.

Meme

Buyback and burn

25% of its platform fees buy its token back and burn it.

Art

Creator royalties

25% of its platform fees are paid to its creator in SOL.

Gaming

Holding streaks

25% of its platform fees are paid to its holders in SOL, weighted by how many epochs in a row they've held without selling.

AI

Auto-liquidity

25% of its platform fees are added to its pool as permanently locked liquidity once it graduates.

Stock pairs

A launch can trade against a tokenized stock instead of SOL. Buyers pay in the stock, the sniper tax is charged in it, and the pool the launch graduates into holds it. Pairs use the fair-launch curve, priced so their market caps matched the SOL launches' at the stock's price when the pair was created. They can carry any themes.

SPYx · S&P 500

NVDAx · NVIDIA

QQQx · Nasdaq 100

TSLAx · Tesla

AAPLx · Apple

The exact rules: fair launch

Sniper tax: 50% at launch, decaying to 1.0% over 5 min. Meteora adds a volatility fee of up to 0.2% while the price is moving quickly.
Fee split: Meteora's protocol receives 20% of every fee. Of the remainder, 20% goes to the creator and 80% to the PvE treasury.
Ticker: One launch per ticker, ignoring case. A ticker that's taken is refused, and a copy made outside the app is hidden from the board and gets no rewards or treasury support.
Themes: Up to 3 per launch, each directing a share of its platform fees: Community 25% to holders, Charity 50% to charity, Stocks 25% in stocks to holders, Meme 25% buyback and burn, Art 25% to the creator, Gaming 25% to long-term holders, AI 25% locked as liquidity. A charity launch names one of 10 charities with a reviewed wallet in Stonk Charity's registry. Combined shares are capped at 100% of platform fees.
Curve: Starts at 30 SOL ($2.9k) market cap and graduates at 450 SOL ($42.8k). Thin at the bottom, deeper as it grows.
At graduation: Migrates to a Meteora DAMM v2 pool with all liquidity permanently locked (50% creator, 50% treasury). The pool fee starts at 2.0% and steps down to 0.5% as the price grows 10×.
Treasury: Platform fees from every launch, including those that stall, are redeployed as permanently locked liquidity into the graduated launches with the most sustained activity.

Runner support: a graduated launch qualifies after 24h and 6 snapshots, with at least 50 SOL of liquidity throughout. Each epoch deploys 50% of the treasury above a 0.05 SOL reserve, and 10% of that goes to charity.

Limits and disclosures

It discourages sniping; it can't detect bundling

The tax applies to everyone who trades early. It can't tell a bundler from an ordinary early buyer, and a trader using many wallets pays the same rate on each.

Copies are contained, not prevented

Meteora's curves let anyone create a pool directly, so a copy of a ticker can't be blocked on chain. The app refuses a ticker that's taken, and a copy made around it is hidden from the board and gets no holder rewards, theme payouts or treasury support. Tickers are compared ignoring case; lookalike names aren't detected.

The tax decays over time, not by market cap

Meteora's bonding curve can only lower its fee over time. A tax that switches off at a market-cap threshold would need a custom on-chain program; the thin-bottomed curve is how this design ties early cost to market cap.

Meteora receives 20% of fees

Meteora's protocol receives 20% of every trading fee on the bonding curve, including the sniper tax. The creator and the treasury split the remainder.

The platform runs the treasury

Runner scores and allocations are computed off chain by the platform's treasury engine, following the published rules. Every claim, swap and locked position can be verified on chain from the Treasury page, and the positions it creates can never be withdrawn.

Themes are carried out by the treasury

A theme's share of fees is collected by the treasury and applied each epoch (donated, burned, paid out or locked) rather than routed by the pool itself. Every action is recorded on chain and listed on the Treasury page. Charity wallets come only from Stonk Charity's reviewed registry.

Stock pairs convert their fees to SOL

A stock pair's platform fees arrive in its stock. The treasury sells them for SOL before allocating each theme's share, so every theme works the same way on a stock pair.

Stocks are Backed's xStocks

The stocks are Backed's xStocks on Solana, from the same list Stonk Charity uses. They exist only on mainnet; devnet uses stand-in tokens with fixed reference prices.

Backed retains control of its xStocks

Every xStock carries powers its issuer keeps: Backed can pause transfers, freeze an account, or move tokens out of one. While a stock is paused, its pairs can't trade and its airdrops wait.

Tokens are speculative

Tokens launched here can lose all of their value, and most do. Only trade what you can afford to lose. Nothing on this site is financial advice.

Launch a token View the treasury