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How it works

Every coin on Buoy is paired with a token: a tokenized stock like NVIDIA, Tesla or McDonald's, a pre-IPO name like OpenAI or Anthropic, a privacy coin (ZEC or XMR), or plain SOL or USDC. Coins trade on the Solana terminal or aggregator of your choice, like Axiom, GMGN or Jupiter. Holder rewards are paid in the paired token (wrapped SOL for SOL-paired coins, which your wallet can unwrap).

Coins launch on Raydium LaunchLab with a fixed supply of 1,000,000,000, no mint or freeze authority, and a starting market cap of about $20,000. The price follows a bonding curve as people buy. At about 7.5x (roughly $150,000), the coin graduates: its liquidity moves into a Raydium pool and is locked forever with Raydium's Burn & Earn, so it can never be pulled.

A creator can make a first buy in the launch transaction itself, so nobody can buy before them. On the launch form, that first buy is capped at 3% of the supply. The cap covers that one buy only: it doesn't limit what a creator buys afterwards like anyone else, or from other wallets.

Fees

Creators pick a trading fee of 1%, 2% or 2.5% per buy and sell. Raydium keeps part of it (0.25% while a coin is on its curve). The rest is collected in Raydium's fee vaults for Buoy and split the same way for every coin, before and after graduation:

Fees build up in Raydium's vaults until someone presses Cycle fees on a coin's page (anyone can, and our payout bot does it automatically). Cycling claims them into Buoy's wallets, and the bots pay every share out from there. Every payout is its own transaction on Solana, linked from this site.

Rewards

Holders. Our payout bot regularly sends each coin's holder share to its holders in the paired token, pro rata, wherever they bought. Rewards are paid into the wallet's token account for that token; if it has none, the bot creates one once the wallet is owed at least $0.50. Smaller amounts roll over to the next round. Rewards are for holding: if you sell before a payout, what you were still owed goes back to the coin's holders. The coin page shows what has been paid and what is waiting.

Traders. The traders' share collects in one vault as USDC and is airdropped to the wallets that trade Buoy coins, on any terminal, each in proportion to its volume, sent straight to the wallet. Each round goes to the top 100 wallets by volume in that round, and the timing of every round is announced on X. Bots (wallets with more than 300 trades in an hour, or more than 100 an hour in 5 or more different hours) aren't eligible, and neither is volume from wash trading or volume bots: the list is reviewed before each airdrop is sent, so it goes out shortly after the snapshot time. The Analytics page shows the leaderboard, each wallet's estimated share, and when the next airdrop goes out. Coins on a newly added pair start counting toward airdrop volume 7 days after the pair is added, and trades before then never count. The vault's address is under Contracts below.

Flagship. The flagship share is swapped to SOL and spent buying $BUOY, the Buoy flagship token, which is then burned, automatically and on chain. The SOL builds up into buys of about 5 SOL, or whatever has built up if 4 hours pass without one, and no single buy can move the price more than 1%. $BUOY is a separate token launched on Raydium LaunchLab. The buyback wallet's address is under Contracts below, so every buy and burn can be checked on Solscan. The Burns page lists every buy with its transaction and the total burned so far.

Tickers

Tickers are 1 to 10 letters or numbers, in upper or lower case, and each one can be launched once for free. Case doesn't make a new ticker: $Pepe, $pepe and $PEPE are the same one. Launching a coin with a ticker that already exists costs 1 SOL, which goes to the treasury. If that coin graduates within 48 hours of launch, the wallet that launched it gets the 1 SOL back automatically. The original coin is not affected and keeps trading.

Risks

• Coins are highly speculative. Most lose value, and you can lose everything you put in.
• Buoy has no on-chain program of its own. Fees are claimed into wallets Buoy holds the keys to, and paid out from there by Buoy's bots. You rely on Buoy to run those bots as described here and to keep those keys safe. Every wallet and every payout is public, so it can be checked, but code does not enforce it.
• Tokenized stocks are issued by third parties (xStocks, Sunrise, PreStocks and others), not by the companies themselves, and those issuers keep powers over their tokens: they can pause transfers, move or burn tokens from any wallet, or add transfer rules later. If an issuer pauses its stock, trading and rewards for coins paired with it stop until it resumes.
• Some pre-IPO tokens charge a fee on every transfer, on top of trading fees: 1% for PreStocks and 0.2% for Tessera.
• ZEC and XMR on Solana are bridged tokens, not the native coins. Their value depends on the bridge that issues them, and XMR in particular trades in thinner pools, so large trades move its price more.
• xSOL, XBTC and XHYPE are Hylo leveraged tokens: they move several times as much as SOL, BTC or HYPE, in both directions, so coins paired with them and holder rewards paid in them can lose value quickly. If one of them has no pool into SOL or USDC, the buyback and airdrop shares of its fees wait in Buoy's wallets until one exists, then are swapped as usual. Nothing is lost, only delayed.
• Buoy is not affiliated with, or endorsed by, the companies whose stocks coins are paired with. A coin is not a share and gives no rights in any company.
• When the bots swap fees between tokens, they use market quotes with a price limit and refuse swaps that move the price too much. A trader who moves the price just before can still take a small part of that swap.
• Buoy's fee tiers are public Raydium LaunchLab platforms, so other apps can launch coins on them outside this site. Those coins aren't in Buoy's registry and don't get its fee split or rewards. Only coins listed on this site do.
• Prices and stats on this site come from on-chain data and third-party price feeds, and can be delayed or wrong.

Contracts

The wallets Buoy runs, and the Raydium programs coins live on. Open any of them on Solscan.