How SHIP works

How it works

SHIP is a launchpad for Solana memecoins built on Raydium LaunchLab. You name a coin, give it a picture, set its curve and its post rewards, and sign once. A moment later the coin is live, trading on its own bonding curve against SOL, with your first buy already in it.

Two things are different from other launchpads. Every coin starts clean: nobody can bundle its first block, the dev included. And every coin is the original: a copy of a coin that is already out there does not launch. Most of a coin's fees then go back to its own people: the people who post about it, its holders, or more of the coin, the way its launcher chose.

Launching

• What you setName (up to 32 characters), ticker (1 to 10 letters or numbers), image, description, links to X, Telegram and a website, the post it is about, the curve, your first buy and the post rewards.
• The coin1 billion coins by default, 6 decimals, a Token-2022 mint with its name, ticker and picture inside it. No mint authority and no freeze authority: nobody can print more or freeze anyone.
• The curveA constant-product bonding curve on LaunchLab, paired with SOL. Pick Classic (graduates at 85 SOL raised), Fast (40 SOL) or Long run (250 SOL), or set the supply, the share sold on the curve and the graduation target yourself.
• GraduationWhen the curve has raised its target, the coin moves to a Raydium pool with the rest of the supply and the SOL raised, and that liquidity is locked for good with Raydium's Burn & Earn. It can never be pulled.
• CostYour first buy plus at most 0.025 SOL for the coin's accounts on LaunchLab, its account in the SHIP program and the network fees, about 0.019 SOL at today's rent. Whatever the launch does not spend comes back to your wallet right after it.
• Your signatureYou sign one payment and nothing else. It does not contain the coin's address, because the coin does not exist yet.

Clean starts

A bundle is a dev buying their own coin from many wallets in the same block it is created, before anyone else can. On SHIP that block is out of reach: we create the coin's key and send the launch ourselves, so its address is unknown to everyone, the dev included, until the coin is on chain. There is nothing to aim a bundle at.

• Your first buyIt rides inside the launch transaction itself, so nobody buys before you. One wallet, up to 2 SOL, and the coin page shows it.
• Fast buyersBots can still buy in the first blocks after the coin appears. Every wallet that trades it within 4 slots of the launch (under two seconds) is written down and never earns that coin's rewards: no paid posts, no holder rewards, no airdrops. The coin page shows how many there were.
• Bundles caughtIf the dev sent SOL to one of those wallets in the week before, the coin is marked bundled and the dev's fee share goes to the coin's reward pool instead, for good.
• On the pageEach coin's page shows what the dev bought inside the launch, how many wallets bought in its first blocks with how much SOL, and whether the dev funded any of them.

No copycats

A vamp copies a coin that is already running and takes its buyers. SHIP checks every launch before it goes out.

• TickersEach ticker ships once. Lookalikes count as the same ticker: case, a $ sign, digits that stand in for letters (0 for O, 1 for I), cyrillic and greek letters that look latin, and endings like 2, CTO, INU or AI.
• NamesNames are compared the same way, letters and digits only.
• Running elsewhereA ticker or name that matches a coin on Solana worth over $100K and younger than 7 days, wherever it launched, is refused. The check reads DexScreener's public data at the moment you ship.
• ImagesEvery image is reduced to a 64-bit fingerprint, straight and mirrored. One that matches an image already shipped here is refused, including flipped, recoloured and resized copies.
• Source postsA coin can point at the tweet or story it is about. The first coin on a post takes it, and no second coin on that post launches here.

Rewards

Each coin has a reward pool, filled by its fees. At launch its launcher splits the pool between four ways of giving it back, in whole percents that add up to 100. Post rewards are optional: a coin can put everything into holders or burns instead.

• PostersSOL to holders who post about the coin on X. Paste the link to your post on the coin's page; SHIP reads it, checks the coin's rules, and the SHIP program pays your share.
• Holders, in SOLSOL to every wallet holding at least the coin's minimum, by the size of its bag, every 1 to 24 hours as the launcher set.
• Holders, in the coinThe pool buys the coin back on its curve and hands those coins to holders the same way. Buying back also pushes the price.
• BurnThe pool buys the coin back and burns it, a little at a time, so the supply only shrinks.
• Who is left outThe dev's wallet and every wallet that bought in the coin's first blocks get no holder rewards and no airdrops.

Post rewards, when a coin has them

• Per post1% to 10% of the posters' share at that moment, set at launch (1% by default). A share, never a fixed sum, so posting cannot empty it.
• HoldingThe poster's wallet must hold the coin's minimum when it claims (10,000 coins by default).
• How oftenOne paid post per account per coin every 1 to 24 hours, as the launcher set.
• Daily capAt most 5% to 50% of the posters' share leaves in 24 hours (25% by default). The program enforces it, not just the server.
• The postYour own public post naming the coin's $TICKER and tagging @useShipFun, in your own words. Reposts and replies under other people's posts are not paid. #ad is required when the coin asks for it, and by default it does.
• The accountAt least 30 days old with 20 followers. Your first paid post carries a short code from the coin page, which links that X account to your wallet for good.
• TimingClaim within 24 hours of posting. The reward is reserved at once and sent 30 minutes later if the post is still up. Delete a paid post and rewards pause for 7 days.
• LimitsOne post pays once, for one coin. At most 3 paid posts per account per coin a day and 10 across all coins, and never twice for the same words.

Fees

Every buy and sell on the curve pays 1.5%. LaunchLab keeps 0.25% for Raydium. The rest comes to the SHIP program in two parts: the coin's creator fee, 0.5%, which stays with the coin, and the platform fee, 0.75%, which is SHIP's. The program can never give SHIP any of the creator fee. The same for every coin:

After a coin graduates it trades on its Raydium pool at 1.25%: Raydium's own 0.25% trade fee, and a 1% creator fee that comes to the coin's account in the SHIP program. Raydium keeps 0.05% of that. The coin keeps the same 0.5% as on the curve (0.4% rewards, 0.1% dev) and SHIP gets the other 0.45% (0.3% to the platform, 0.15% to the $SHIP buyback).

Fees build up on LaunchLab until they are cycled: SHIP's server does it every 15 minutes for each coin with fees waiting, and since cycling is open to anyone, anyone else can too. One transaction claims them and splits them on chain.

The SHIP program

A coin's money never sits in a wallet someone holds the key to. The SHIP program is each coin's creator on LaunchLab and the fee wallet of SHIP's platform, so every fee lands with the program and only its instructions can move it. Each coin has its own account in the program and three buckets of SOL: one for posts, one for holders and one for buybacks.

• RegisterOnce per coin, right after its launch: its dev, how its rewards are split and its limits. The split can never change after that.
• CycleAnyone can call it. Claims a coin's fees from LaunchLab, pays the creator share, SHIP's shares, and fills the coin's buckets by its split.
• Pay a post, pay holdersOnly SHIP's payout key can call them, after the server has checked the post or taken the holder snapshot. Holders are paid up to 20 wallets per transaction.
• Buy back, airdropOnly the payout key. A buyback spends the buy bucket on the coin's curve, burns the burn part at once and keeps the rest for the next airdrop to holders. After graduation buybacks stop, and that share goes to the coin's posters and holders instead.
• LimitsEvery payout call takes at most the coin's per-call share of its bucket (1% to 10%), and each bucket gives out at most its daily cap in any 24 hours. The program enforces both, so even a stolen payout key cannot empty a coin's rewards.
• Mark bundledTurns a coin's creator share over to its rewards when its launch was bundled. It only works one way.
• Nothing elseNo instruction moves a coin's buckets anywhere but to its posters and holders, or into buying the coin back. SHIP's admin cannot touch them.

Contracts

Risks

• CoinsHighly speculative. Most lose value, and you can lose everything you put in. A coin is not a share in anything.
• CodeThe SHIP program is tested against a copy of mainnet LaunchLab, but no outside firm has audited it yet. Its upgrade key is held by the team until it moves to a multisig.
• Payout keyThe server's payout key decides who gets paid, within the program's limits. If it were stolen, the most it could move is a coin's per-call share at a time and its daily cap per day.
• XX can change what it allows. If posts cannot be read, claims wait; pools keep filling and nothing paid is affected.
• The checksThe copy checks catch what they are built to catch. A determined copy that changes enough can get through, and a coin elsewhere can launch after yours.
• Fast buyersThe first-block rules make sniping pointless for rewards, not impossible. Bots can still buy early.
• OthersLaunchLab platforms are public, so someone could launch a coin on SHIP's platform without this site. Only coins launched here are listed, checked and paid.