What happenswhen you launch.
One Solana transaction, one relayer, one record per coin. Here is each step, and what each party can and cannot do.
The launch
Three instructions, one transaction
1. pump.fun creates the coin
pump.fun's own program makes the mint and its bonding curve with the name, ticker and image you chose. The image and text are pinned to IPFS by pump.fun's uploader first.
2. Doublepad records it
pump.fun's creator for your coin is a wallet of its own that only the Doublepad program controls. The program checks the curve really is pump.fun's and names that wallet, then opens a record for your coin with the stock you picked and moves your slice into it.
3. Your first buy
Optional. It runs last, so you buy on a coin that is already recorded. All three land together or the whole transaction fails and nothing is spent but the fee.
After you sign
The PONS leg
The relayer picks it up
It reads pending records from the program every few seconds, loads your coin's metadata and launches it on the PONS factory on Robinhood Chain with the same name, ticker, image and description.
One PONS coin per launch
The PONS address is derived from your pump.fun mint. A second attempt after a crash finds the first coin instead of making another.
It writes the address back
attest stores the PONS token and the Robinhood Chain transaction in your record, and only then pays the slice to the relayer. Your coin card on this site links both.
If it cannot
After six failed tries the relayer calls fail, which sends the slice back to you. If the relayer is simply gone, reclaim opens to you once the deadline in your record passes.
Who can do what
The trust model
The relayer
Can attest a pending launch (takes its slice) or fail it (refunds you). Cannot move a slice anywhere else, cannot touch a live, failed or reclaimed launch, and cannot hold or trade your coin.
The admin
Can pause new launches and change the slice, the relayer or the deadline for launches made after the change. Launches already made keep their slice and their deadline.
You
Own your first buy on pump.fun from the moment the transaction lands. Can reclaim your slice after the deadline if PONS never went live.
The relayer, on Robinhood Chain
Only it may launch through the hub, once per Solana mint. It cannot move a vault's stock or pending ETH; only a holder's redeem takes stock out.
The vault
Where the fees go
PONS fees
Your PONS coin's 1% creator tax goes to a fee sink made for that coin alone. Anyone can push it into the vault, where it is labelled PONS.
pump.fun fees
pump.fun pays your coin's creator fees into its own fee wallet on Solana. Anyone can sweep them to the relayer, and the record counts every lamport. The relayer bridges them to Robinhood Chain and deposits them for your coin, labelled pump.fun. Compare the two numbers on the coin's page.
The split
80% of every fee waits to buy the stock, 20% pays for the relayer. The purchase goes ETH to USDG to the stock on Uniswap v4, and the vault refuses any fill more than 3% worse than the pools' own price.
Redeeming
Hand PONS coins to the vault and take their share of the stock it holds for that coin. The coins burn, so what is left per coin never falls. The pump.fun coin cannot redeem: the stock lives on Robinhood Chain.
Money
Everything else
The slice
Pays the PONS launch fee and gas. The relayer earns it in SOL and bridges some to Robinhood Chain through Relay when its ETH runs low. The fees it carries for vaults are kept apart and never spent on gas.
Your first buy
Goes to your wallet on pump.fun. There is no first buy on PONS, since you never hold ETH on Robinhood Chain.
What is not on chain
That the relayer really bridges what it swept is checked by comparing the record's swept total on Solana with the vault's pump.fun deposits on Robinhood Chain. Neither program can read the other chain.