how all works
Hold one coin. Collect every launch. Every coin launched on all sends part of its trading fees to the $ALL treasury. That part buys the new coin and drops it into every wallet holding $ALL. You hold one thing and end up holding all of them, and the launches paid for it.
What all is
all is a launchpad on pump.fun. A coin launched here is an ordinary pump.fun coin with one thing written into it at birth: how its creator fee is split. pump.fun locks that split the moment the coin exists. Nobody, including us, can change it afterwards.
Three parties are in every split: the coin's holders, the creator, and the $ALL treasury. Two lines say the whole thing. Every coin launched here pays its holders in $ALL. $ALL pays its holders in every coin launched here.
What $ALL is
$ALL is the one coin you hold to receive every other one. It is a pump.fun coin like the rest, with its own fee split pointed at the same treasury. Holding it does three things, and only these three:
| holding $ALL | what happens |
|---|---|
| every launch | a piece of each new coin lands in your wallet, by your balance, from that coin's own fees |
| burn | a slice of every round buys $ALL and burns it, so supply only falls |
| your pick | one memo changes what you are paid in: the coins, a stock, or SOL |
There is no staking, no lock, no claim button and no tier of $ALL. A wallet with more $ALL gets a larger share of each drop. That is the whole rule.
The flywheel
Read it as a loop. Each line feeds the next.
| step | what turns | what it does |
|---|---|---|
| 1 | a creator launches on all | their coin starts with every $ALL wallet as a holder, hundreds at once |
| 1b | the coin's own holders are paid in $ALL | the holder share of every round buys $ALL and splits it by balance, so each coin's community becomes $ALL holders |
| 2 | people trade the coin | every trade pays pump.fun's creator fee; the split fires by itself |
| 3 | the treasury slice arrives | 30% of the fee, in SOL, paid by pump.fun to the treasury |
| 4 | the drop | most of that SOL buys the coin on its own curve and is split across $ALL wallets |
| 5 | the burn | a slice buys $ALL and burns it; supply falls with every round of every coin |
| 6 | more people hold $ALL | to be in the next drop, and because the supply is shrinking |
| 7 | the next launch starts bigger | more $ALL wallets means more holders at minute one, so more creators launch here |
Two things make it turn on its own. The split is enforced by pump.fun, so the treasury is paid whether or not anyone here is awake. And the drop is funded by the coin being dropped, so a coin that trades a lot seeds a lot of wallets and a coin that trades a little seeds a few. Nothing is subsidised.
The flywheel does not promise a price. It promises a mechanism: launches fund drops, drops and burns give a reason to hold, holders give creators a reason to launch. Whether people trade the coins is up to them.
What a launch writes into a coin
One transaction, signed by the creator in their own wallet: create the coin, write the fee split, revoke the right to change it. The split today:
| who | share | what for |
|---|---|---|
| the coin's holders | 50% | paid in $ALL, bought on every round and split by balance; a memo can ask for SOL or a stock instead |
| the $ALL treasury | 30% | the drop and the burn, as the flywheel says |
| the creator | 20% | theirs, for life, paid by pump.fun directly |
The creator picks nothing but the coin's name and picture and, for the treasury slice, drop or one of two other uses. The split and that choice are written into the coin's frozen document, on chain and public. Every unit of $ALL a holder receives is bought on the market that round and delivered; none is promised.
How a drop reaches you
| step | what happens | who does it |
|---|---|---|
| 1 | a trade on a launched coin pays the creator fee | pump.fun |
| 2 | the fee splits into the holders', the creator's and the treasury's shares | pump.fun |
| 3 | the treasury's SOL is claimed and a round starts | the crank, every minute the fee clears pump's minimum |
| 4 | the round buys the coin on its own curve | the crank, through Jupiter, capped so it never marks the coin up |
| 5 | the coins are split across $ALL wallets by time-weighted balance | the crank, 20 wallets a transaction |
| 6 | you hold the coin | nobody; it is in your wallet |
Time-weighted means a wallet that bought $ALL a minute before a round and sold a minute after earns a fraction of it. Balance bought inside the current round is not counted at all. Holding is what pays.
Who pays for what
The protocol pays nothing recurring. Every cost comes out of the money that is being moved, in this order, before anything is bought:
| cost | paid by |
|---|---|
| your token account for a new coin, about 0.0021 SOL, once per coin | your own share of that coin's drop; until your share covers it, it accrues |
| the treasury's account for the coin, once | that coin's first round |
| transaction fees and relay tips for the drop | that round's budget, metered |
| a stock account for a holder paid in stock | that holder's share, as it has always been |
| the launch itself | the creator: network fees, account rent, and the launch fee |
The one figure that scales with holder count is the token account. A thousand new holders is about 2.07 SOL of rent. Where that SOL comes from is the next two sections.
Seats at launch
Left to fees alone, a coin seats its $ALL holders as it trades: the largest wallets first, the moment their share covers their account, the rest accruing until they cross. A coin that trades hard seats everyone in minutes; a quiet one seats a few dozen.
A creator who wants the room full from the start can buy seats at launch. The launch form prices them live: seats times the account rent, plus a buy of their own coin to fill them. That SOL is held for that coin alone, spent on its first rounds, and anything left joins that coin's drop budget. It never funds another coin and never comes to us.
Five hundred wallets holding your coin at minute five costs about 1.05 SOL in rent plus your first buy. No other pad can print that holder count, and every one of those wallets is a real person who chose to hold $ALL.
Claiming
A wallet whose share never covers its account is not forgotten. Every round's owed amounts are published, and a wallet can claim its accrued coins on this site, paying its own account rent and network fee. Nothing is lost to the floor; it waits for the holder or for the next round to carry it over.
Tiers
Every launched coin is shown as a card with a tier. The tier is read, not chosen, and it is read from what the coin has paid its holders, not from its market cap, because a market cap on a curve can be bought for the price of a round trip and a payout cannot.
| tier | paid to holders, lifetime |
|---|---|
| common | under $10 |
| uncommon | $10 and up |
| rare | $100 and up |
| epic | $1,000 and up |
| legendary | $10,000 and up |
Market cap is shown on the card and decides nothing. A tier changes nothing about what a coin pays; it is a label on what it has already paid.
Choosing what you are paid in
By default a $ALL holder is paid in the coins as they launch, and a launched coin's holder is paid in $ALL. One memo from your wallet to the treasury changes that for every coin at once: a stock the desk pays, several stocks split equally, USDC, or SOL as received. Configure your holdings writes the memo for you; your signature is the proof, and the crank reads memos before every round.
| setting | value |
|---|---|
| preference memo | all:payout=<SYMBOL[,SYMBOL...]|as-received|etc>[;to=<WALLET>] |
The numbers
Set means the crank runs with it today. Proposed means it is the plan and nothing runs with it yet. Measured means read from chain.
| setting | value | status |
|---|---|---|
| split | holders 50%, treasury 30%, creator 20% | set |
| round floor | $5 | set |
| longest wait | 1440 min | set |
| holder floor | $0.05 | set |
| share | by balance, time-weighted over the round's snapshots | set |
| drop | 60% of each round's treasury SOL buys the coin and drops it | proposed |
| burn | 25% buys $ALL and burns it | proposed |
| reserve | 15% stays as SOL in the treasury, shown | proposed |
| buy cap | one round buys at most 2% of a coin's curve reserves | proposed |
| seat | one new holder's token account, about 0.0021 SOL, paid from the share or by the creator | measured |
| seat presets | 100, 250, 500, 1,000 holders at launch, priced live | proposed |
What is enforced, run, and not promised
| layer | what |
|---|---|
| enforced by pump.fun | the fee split of every coin, locked at launch; the treasury is paid by pump.fun directly |
| run by the crank | the claim, the buy, the drop, the burn and the memo reading, by a wallet under the policy printed here, with every round on the ledger |
| read from chain | every figure on this site; nothing is typed in |
| not promised | a price, a yield, a floor, or that any coin will be worth anything; most coins go to zero, and a coin that does not trade drops nothing |
$ALL's address reads tba until it is announced, and no round has been paid. Payouts are run by a wallet, not by a program; the policy is published, and nothing enforces the drop itself on chain. See rounds for the record.
Nothing here is advice, and no figure on this site is a promise about the next one.
all