Live on Solana
Back it before
it trades.
Backers fund the first buy. A vault holds it. The agent works it. At 5×, backers get paid back.
The raise makes the coin’s first buy, the bundle, in the same instruction that creates it on Raydium LaunchLab. A rate-limited vault agent trades that vault: it sells slowly into strength and buys dips. Once the vault’s quote is 5× its start, backers get paid back, principal first. Below 5×, nothing is paid. How it works ›
Paired with a quote asset, the creator’s pick
SPYxxStocks
NVDAxxStocks
QQQxxStocks
TSLAxxStocks
AAPLxxStocks
MSTRxxStocks
SOL
USDC
- Creator fee split
- 75% vault · 15% buyback & burn · 10% backers
- Backer payback
- 5×, then 15% per 4h
- Curve fee
- 1.25% = 0.25% Raydium · 0.5% platform · 0.5% creator
- Creators’ cut of fees
- 0%
- Backstock takes
- 1% of the raise · SOL create fee · 0.5% curve fee · 15% of creator fees
No launches yet — be the first.
Launch a coinHow it works
The 2-minute version, with numbers ›Back
Put the launch’s quote asset (SOL, USDC or a tokenized stock) into a raise before the coin exists. If the raise misses its minimum, you get 100% back.
Launch on LaunchLab
One instruction creates the coin on Raydium LaunchLab and spends the raise, minus the 1% launch fee, on its first buy, the bundle, before anyone else can trade. Tokens and unspent quote go into a vault. When the curve fills, the coin graduates to a Raydium CPMM pool.
Get paid back
A rate-limited vault agent sells slowly into strength and buys back dips; what it sells stays in the vault. Once the vault’s quote is 5× its start, it may pay backers back: principal first, then 15% of the vault at most every 4h (payback). You also get 10% of the launch’s creator fees.
On Backstock now
All launches →No launches yet — be the first.
Launch a coinProgram 69H4…8Yzq · the bundle is the coin’s first buy on Raydium LaunchLab · terms frozen per launch · agent limits and payback enforced on-chain · vault withdrawals only by the platform admin key (a single key at launch; it is also the program's upgrade authority) or a single dev key, each one an on-chain event on the launch page. Verify →
How a launch works
Five beats, each one enforced by an instruction on-chain or by Raydium’s own programs. How it works ›
01
Back the raise
Backers pool the launch's quote asset (SOL, USDC or a tokenized stock such as SPYx) before the coin exists. Min and max raise, a per-wallet cap, a deadline, an optional whitelist. Miss the minimum and everyone is refunded in full.
Refund: 100% if min not met or creator cancels
No raise is open right now.
Start one →02
The bundle buys first
One instruction creates the coin on Raydium LaunchLab, priced in the quote asset, and spends the raise, minus the 1% launch fee, on its first buy at the opening price. Backers own that buy pro-rata; nobody is exempted and there is no earlier trade to snipe. The tokens and the unspent quote go into the vault. Only the vault agent trades them; the platform admin key (a single key at launch; it is also the program's upgrade authority) and a single dev key can withdraw a vault, and every withdrawal is an on-chain event on the launch page.
Bundle: ≤ 75% of supply, never completes the curve
No launch has bought its bundle yet.
03
The agent works it
It sells slowly into strength, sized so it doesn’t hurt the chart, and buys back dips at least 2% under the EMA with vault quote. Every sale stays in the vault. Rate-limited on-chain, one trade per slot, and every action is a public Trade event.
Per window: ≤ 10% of vault quote
No live launch for the vault agent to trade yet.
04
Graduation
Everyone else trades the coin on the LaunchLab curve, paying 1.25% per trade in the quote asset. When the curve has sold 79.31% of supply, Raydium migrates the coin to a CPMM pool at the same price and locks the liquidity. The vault agent moves to the pool; the creator fee keeps flowing to the launch.
Curve fee: 0.25% Raydium + 0.5% platform + 0.5% creator
No launch is trading on the curve yet.
05
Backers get paid back
Once the vault's liquid quote is 5× what went in at launch, the agent may pay backers: principal first, then 15% of the vault at most every 4h. Under 5×, nothing is paid. Separately, 10% of the launch's creator fees go to backers pro-rata (75% to the vault, 15% buys back and burns the Backstock token). Claim any time.
Payback: 5× the start, then 15% per 4h
No live launch paying backer fees yet.
No snipers at the open. Backers are the open.
The bundle buys at the opening price, before any public order can exist. Allocation is public on the launch page. What it does after that is up to the vault agent’s rules, not anyone’s timing.
- 100%
- of the opening buy goes to backers, pro-rata by deposit
- 0
- wallets exempted: not the creator, not the platform
- 0
- trades before the bundle: the coin and its first buy are one instruction
- ≤ 75%
- of supply in the bundle, and it never completes the curve, so the public can always buy
Rules you can check, not promises.
Every instruction the program exposes, read from its IDL. Every vault agent action is an on-chain Trade event.
Who can withdraw a vault
Two keys can: admin_withdraw_vault, signed by the platform admin key (a single key at launch; it is also the program's upgrade authority), and dev_withdraw_vault, signed by a single dev key. Every withdrawal is an on-chain event (VaultWithdrawn / VaultWithdrawnByDev) shown on the launch page.
Raise
- create_launchCreatorCreate fee (SOL) → fee recipient; rent → the launch; opens the raise
Opens a raise in one allowlisted quote asset (SOL, USDC or a tokenized stock), within that quote's raise bounds: min and max raise, per-wallet cap, deadline, optional whitelist. Pays the flat SOL create fee, funds the rent for the launch's accounts, creates its quote vault, and freezes the launch fee, agent limits, creator-fee split, payback rule and vault floor into the launch. Fails if the platform's terms changed after you signed.
- depositAnyone (whitelisted wallets, when the raise has a whitelist)Your quote → the launch's quote vault
Joins the raise as a backer, in the launch's quote asset. Deposits are clipped to the room left under the max raise and the per-wallet cap.
- cancel_launchCreatorNothing — opens full refunds
The creator can abort a raise before it launches. Every backer can then refund 100%.
- refundBackerYour deposit → you, in the quote asset
Returns the full deposit when the raise missed its minimum by the deadline, was cancelled, or met it but wasn't launched within 3 days of the deadline.
Launch and venue
- launchCreator once the minimum is met; anyone once the deadline passed or the raise is fullRaise → 1% launch fee → treasury; coin created on LaunchLab; bundle buy + reserve → vault
In one instruction: pays the launch fee in the quote asset, creates the coin on Raydium LaunchLab quoted in that asset (1,000,000,000 supply, 79.31% of it sold on the curve), then makes the bundle buy from the raise at the opening price, before any public trade can exist. The bundle takes at most 75% of supply and never completes the curve. Its tokens and the unspent quote go into the vault; that total is what went in at launch, the base of the payback rule.
- graduateAnyoneNothing — records the CPMM pool
Once Raydium has migrated the completed curve to a CPMM pool (graduation, at the same price), records that pool on the launch so the vault agent and fee collection use it from then on.
Vault agent
- agent_buyAgent authorityVault quote → LaunchLab curve or CPMM pool; tokens → vault
Buys back dips with the vault's quote: only at least the band under the EMA, at or below the vault's average cost (or a buy-back below its average sell), within the window budget and price-impact cap, never below the quote's vault floor, one agent trade per slot. Trades the curve before graduation and the CPMM pool after; fails cleanly while the pool is migrating or the quote's issuer has paused transfers.
- agent_sellAgent authorityVault tokens → LaunchLab curve or CPMM pool; all quote → vault
Sells slowly into strength: only at least the band over the EMA, at a fill of at least the vault's average cost plus the band, within the window budget and price-impact cap, one agent trade per slot. Every unit of quote it receives stays in the vault.
Fees and payback
- payout_backersAgent authorityVault quote → backers' claimable balance
Pays backers back once the vault's liquid quote is at least 5× what went in at launch: their principal first, then 15% of the vault per payout, at most one payout every 4h (the principal payout starts the clock too), never below the vault floor. Buying back dips comes first.
- collect_feesAnyoneCreator fees → 75% vault, 15% buyback & burn, 10% backers
Claims the 0.5% creator fee LaunchLab has collected for the launch (and the CPMM pool's creator fee after graduation), in the quote asset: 75% becomes vault quote (agent capital), 15% goes to the buyback wallet, which buys back and burns the Backstock token, and 10% is credited to backers pro-rata. The creator gets 0%.
- claim_backer_feesBackerYour claimable quote → you
Pays the backer's pro-rata share of everything credited so far: 10% of creator fees, payback from payout_backers and a wind-down payout, to their quote account. Claim any time; it never expires.
Vault withdrawals
- admin_withdraw_vaultPlatform admin key (a single key at launch; it is also the program's upgrade authority)Vault quote and tokens → fee recipient
Withdraws any amount of a launch's vault quote and tokens to the platform fee recipient; it can't touch the pool's liquidity or backers' unclaimed credit. Every withdrawal emits VaultWithdrawn and is listed on the launch page.
- dev_withdraw_vaultDev key (a single key the admin sets)Vault quote and tokens → the dev key's own accounts
The same withdrawal as admin_withdraw_vault, signed by the platform's single dev key instead of the admin key: quote and tokens go to the dev key's own token accounts. Works while the platform is paused. Every withdrawal emits VaultWithdrawnByDev and is listed on the launch page.
Platform admin
- initialize_platformProgram upgrade authorityNothing — creates the platform config
One-time setup: admin, fee recipient, agent authority and default params.
- update_platformPlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — params for future launches
Changes defaults for launches created afterwards, within the program's hard caps. Existing launches keep the terms frozen at their creation.
- set_fee_recipientPlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — where platform fees and admin vault withdrawals go
Points launch fees, create fees, the platform's share of creator fees and admin vault withdrawals at a new recipient (dev-key withdrawals always go to the dev key).
- set_agent_authorityPlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — which key may call the agent instructions
Rotates the vault agent's key. Whoever holds it can still only call agent_buy, agent_sell and payout_backers, within each launch's frozen limits.
- set_dev_authorityPlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — which key may call dev_withdraw_vault
Sets, rotates or (with the default pubkey) disables the dev key, the one key besides the admin that can withdraw a vault.
- set_launchlab_platformPlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — which LaunchLab platform new coins launch under
Points new launches at Backstock's Raydium LaunchLab platform config, the one that sets the 0.5% platform fee, the 0.5% creator fee and the CPMM pool coins graduate to.
- add_quotePlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — allowlists a quote asset
Adds a quote asset after checking its mint on-chain: SPL Token or Token-2022, no transfer fee, no active transfer hook, accounts not frozen by default, transferable, and a matching LaunchLab config. Sets its raise target, raise bounds, per-wallet cap and vault floor.
- update_quotePlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing — a quote's settings for future launches
Enables or disables a quote asset and re-sizes its raise target, bounds and vault floor. Launches already created keep the values frozen at their creation.
- propose_adminPlatform admin key (a single key at launch; it is also the program's upgrade authority)Nothing
Starts a two-step admin handover.
- accept_adminProposed adminNothing
Completes the handover; the new key must sign.
Other
- begin_wind_downcrankerWrites launch, authority, quote_vault, token_vault
Signed by cranker.
- finish_wind_downcrankerWrites launch, authority, quote_vault, token_vault
Signed by cranker.
- 69H4…8Yzq
Program deployed
Executable, upgradeable loader
- GU47…HtDT
Upgrade authority
Held by the platform admin key (a single key at launch; it is also the program's upgrade authority)
Mint and freeze authority
Each coin is created by Raydium LaunchLab with a fixed 1,000,000,000 supply; check its authorities on the explorer
Launch authority
One per launch, derived from the launch: owns its quote vault and token vault · withdrawals only by the admin key or the dev key, each an on-chain event
Terms frozen per launch
Creator-fee split, payback rule, agent limits, vault floor and launch fee, copied into each launch account at creation
- D1Mv…xd6d
Agent authority
Can only sign agent_buy, agent_sell and payout_backers, within each launch’s frozen limits; every trade is a Trade event
Where the money goes
Every curve trade pays 1.25% in the quote asset. The 0.5% creator fee lands in the launch itself, which splits it 75% to the vault, 15% buys back and burns the Backstock token and 10% to backers. Creators take no cut. Each launch freezes its split at creation; what the vault agent sells stays in the vault.
Raydium
0.25%
Backstock
0.5%
Creator fee → launch
0.5%
Vault
75%
Buyback & burn
15%
Backers
10%
For backers
- 10% of the launch’s creator fees, split by deposit (backer earnings). Claim any time.
- Payback once the vault’s quote is 5× its start: your principal first, then 15% of the vault at most every 4h. Under 5×, nothing.
- 100% back if the raise misses its minimum or the creator cancels. If the coin dies, anyone can run the wind-down and all vault quote goes to backers. That can be less than you put in.
For creators
- 0% of fees to you, so there is no creator cut to dump on your holders.
- The creator fee goes 75% into your launch’s vault as agent capital, 15% buys back and burns the Backstock token and 10% to your backers.
- You pay the 0.020 SOL create fee; the 1% launch fee comes out of the raise, in the quote asset. Nothing else.
For Backstock
- A 1% launch fee from each raise at launch, to the treasury, plus the flat 0.020 SOL create fee when a raise opens.
- 0.5% of every curve trade (Raydium keeps 0.25%) and 15% of each launch’s creator fees, in the quote asset, which buys back and burns the Backstock token. The locked liquidity’s fee rights after graduation sit with the platform’s fee wallet.
- There is no platform coin. What a launch’s coin does is up to the market.
Priced in SPYx, NVDAx, or just SOL.
Every launch is raised, priced and paid back in one quote asset, picked by the creator and fixed for good. A coin quoted in NVDAx trades against NVDAx on its curve, its vault’s reserve sits in NVDAx and its 5× payback is counted in NVDAx. Prices show in USD too.
Why a stock: the vault’s unsold reserve holds a token that tracks a share instead of SOL, so in USD it moves with the stock, both ways. Why not: a tokenized stock has an issuer, and the issuer keeps powers SOL doesn’t have.
| Quote | Tracks | Issuer can |
|---|---|---|
| SPYx | S&P 500 ETF | pause transfers · freeze accounts · move or burn tokens |
| NVDAx | NVIDIA | pause transfers · freeze accounts · move or burn tokens |
| QQQx | Nasdaq-100 ETF | pause transfers · freeze accounts · move or burn tokens |
| TSLAx | Tesla | pause transfers · freeze accounts · move or burn tokens |
| AAPLx | Apple | pause transfers · freeze accounts · move or burn tokens |
| MSTRx | Strategy | pause transfers · freeze accounts · move or burn tokens |
| SOL | Solana, held as wrapped SOL | None |
| USDC | USD Coin | freeze accounts |
Tokenized stocks come with an issuer. The xStocks issuer can pause every transfer, freeze any account and, through a permanent delegate, move or burn tokens from any account, a launch’s vault included. While transfers are paused, launches, agent trades, payouts and graduation fail cleanly and the vault agent stands down until they resume. xStocks are not available to US persons. A coin quoted in a stock is not a share of that company, backing is not an investment in a company or a fund, and the vault can go to zero. Risk ›
Launch in one transaction.
- Fixed 1,000,000,000 supply on Raydium LaunchLab: 79.31% sold on the curve, then a CPMM pool
- Your backers' bundle is the first buy; only the vault agent can sell it, slowly, into strength
- 0% of fees to you: the creator fee goes 75% into your vault, 15% buys back and burns the Backstock token, 10% to your backers
What you set
- Quote asset
- SOL, USDC or an allowlisted tokenized stock. Permanent.
- Raise
- Min and max within the quote's bounds, per-wallet cap, deadline
- Whitelist
- Optional: only listed wallets can back
- Bundle cap
- Up to 75% of supply; never completes the curve
- Reserve
- A share of the raise kept as vault quote, for buying dips
- Cost
- 0.020 SOL create fee, 1% of the raise at launch
The wizard previews the exact bundle for your quote and raise before you sign. Terms freeze when the raise opens.
The agent, live
One signer, rate-limited on-chain, reporting every decision in plain words.
No decisions yet. The agent reports each live launch on its next tick.
Questions
What am I backing, exactly?
A pooled first buy. Your deposit, in the launch's quote asset, joins the raise; at launch the raise buys the coin's first tokens on Raydium LaunchLab and they sit in the launch's vault. You own a pro-rata claim on what the vault pays backers: 10% of creator fees, payback once the vault reaches 5×, and the vault's quote if the launch winds down. Backing is not an investment in a company or a fund, the coin is not a share of anything, and the vault can go to zero. For backers ›
What if the raise fails?
Everyone is refunded in full, in the quote asset they deposited. If the raise misses its minimum by the deadline, the creator cancels, or it isn't launched within 3 days of the deadline, each backer claims 100% of their deposit back. For backers ›
When do backers get paid back?
Only when the vault earns it: once the vault's liquid quote (tokens don't count) is 5× what went in at launch, the agent may pay backers their principal, then 15% of the vault per payout, never more than one payout every 4h. Under 5×, nothing is paid; buying back dips always comes first, and no payout takes the vault below its floor. There is no fixed timeline, and many launches will never get there. For backers ›
Can the creator dump the bundle?
No. The bundle is bought by the launch instruction and held in the vault, and the creator has no instruction that touches it. Only the vault agent trades it, on the LaunchLab curve and later the CPMM pool, within its on-chain rules. The platform admin key (a single key at launch; it is also the program's upgrade authority) and a single dev key can withdraw a vault; every withdrawal is an on-chain event on the launch page. The vault ›
What is a quote asset, and why stocks?
It's what a launch is priced and raised in, picked by the creator at creation and permanent: SOL (held as wrapped SOL), USDC, or a tokenized stock such as SPYx or NVDAx. A coin quoted in NVDAx is measured in NVDAx: its chart, its vault's reserve and its payback are all counted in it, so in USD the reserve moves with the stock, both ways. Prices also show in USD. Choosing a quote ›
Can I back with tokenized stocks from the US?
No. xStocks, the tokenized stocks Backstock lists, are not available to US persons, and other restrictions apply by jurisdiction. Launches quoted in SOL or USDC don't involve them, but check your own rules before backing anything. Risk ›
What can the stock token's issuer do?
Tokenized-stock issuers keep powers over their tokens: they can pause all transfers, freeze an account, and for xStocks move or burn tokens from any account through a permanent delegate, a launch's vault included. While transfers are paused, launches, agent trades, payouts and graduation fail cleanly and the agent stands down; nothing in the launch's accounting breaks, but nothing moves either. Risk ›
Where does the coin trade, and what is graduation?
On Raydium, not on this site. Every coin starts on a LaunchLab bonding curve priced in its quote asset; each curve trade pays 1.25% in the quote asset (0.25% to Raydium, 0.5% to Backstock, 0.5% creator fee to the launch). When the curve has sold 79.31% of supply, Raydium migrates the coin to a CPMM pool at the same price with the liquidity locked: that's graduation. The vault agent follows it to the pool. For traders ›
Where do the fees go?
The creator fee lands in the launch itself and is split 75% to the vault, 15% buys back and burns the Backstock token and 10% to backers; creators take 0%. Backstock also takes a 1% launch fee from the raise (to the treasury), a flat SOL create fee and its 0.5% share of the curve fee. Each launch freezes its split at creation; platform changes only apply to launches created afterwards. Fees ›
Why keep some of the raise as quote?
The reserve is what the vault agent buys dips with. It can only buy at least 2% under the EMA, and only at or below the vault's average cost or as a buy-back under its average sell price, so the reserve is never spent chasing price. What the agent sells joins it: all sale proceeds stay in the vault. Agent rules ›
What if the agent goes offline?
The vault stops trading and no payback runs until it's back. Public trading on Raydium carries on, and the agent's heartbeat is public. Agent status ›
What happens when a launch goes quiet?
Once a launch is at least 3 days old, no vault trade for 24 hours, and wallets outside the vault and the venue hold 5% of the supply or less, anyone can call wind_down: the vault sells what it holds and all of its quote goes to backers pro-rata. That can be less than what they put in; it's the worst case short of zero. The vault ›
How do I verify all this?
Every rule is an account or instruction you can open: the instruction list above comes from the program's IDL, every agent action is an on-chain Trade event, and every token page has a Verify on-chain panel with explorer links. Verify on-chain ›
The first buy is yours.
If you back it. Backing isn’t a share of anything, the vault can go to zero, and payback only happens at 5×.