Docs · Reference

Glossary

The nouns Backstock uses, each in one sentence.

Terms

Raise: The pre-launch period where backers deposit the quote asset toward a min and max.
Backer: A wallet that deposited into a raise; it earns the backers' share of creator fees, the vault's paybacks and its wind-down quote, pro-rata to its deposit.
Reserve: The share of the raise kept as vault quote for the agent to buy dips with.
Initial vault quote: What went in at launch: the bundle's quote plus the leftover (initial_vault_quote). The payback rule measures the vault's liquid quote against it.
Curve: Raydium LaunchLab's constant-product curve each coin opens on; 79.31% of supply is sold on it before graduation.
EMA: Exponential moving average of price, sampled at every agent trade over 30 minutes.
Band: The zone around the EMA (± 2%) inside which the vault agent holds.
Vault average cost: The quote cost per token of what the vault holds. Agent buys must fill at or below it (or, as a buy-back, a band under the average sell); agent sells at least a band above it.
Window: The period over which the agent's buy and sell budgets reset.
Impact: How far a trade moves the spot price, in percent.
Terms: The fee split, the payback rule, the vault floor and the agent limits frozen into a launch at creation.
Quote asset: The asset a launch is priced in and raised in: SOL, USDC or a tokenized stock such as SPYx or NVDAx. Chosen at creation and permanent. Every amount on the launch (raise, vault, payback) is in it.
Bundle: The backers' pooled first buy on Raydium LaunchLab, made in the same instruction that creates the coin, before anyone else can trade. Its tokens and the unspent quote go into the vault.
Vault: The launch's on-chain account holding the bundle's tokens and its quote. Only the vault agent trades it. The platform admin key (a single key at launch; it is also the program's upgrade authority) and a single dev key can withdraw it; every withdrawal is an on-chain event on the launch page.
Vault agent: The one rate-limited signer allowed to trade the vault. It sells slowly into strength and buys back dips under hard on-chain limits (price band, per-window caps, price-impact cap, vault floor). What it sells stays in the vault as quote.
Graduation: When the LaunchLab curve has sold 79.31% of supply and raised its target, Raydium migrates the coin to a CPMM pool at the same price and locks the liquidity. The vault agent then trades the CPMM pool.
Creator fees: The 0.5% creator fee on every curve trade (and the CPMM creator fee after graduation), paid in the quote asset to the launch itself: 75% to the vault, 15% buys back and burns the Backstock token, 10% to backers.
Backer earnings: 10% of the launch's creator fees, the vault's payback (principal, then 15% of the vault at most every 4h while it stays above 5×) and the vault's quote if the launch winds down, all split by deposit. Claim any time; it never expires.
Payback: Once the vault's liquid quote is 5× what it held at launch, the vault agent may pay backers back: principal first, then 15% of the vault, never more than once every 4h. Buying back dips always comes first.
Vault floor: The amount of quote the vault always keeps, set per quote asset: no payout and no agent buy may take it below that.
Wind-down: When a launch is 3+ days old, the vault hasn't traded for 24 hours and wallets outside the vault and the pool hold 5% of the supply or less, anyone can close it: the vault sells what it holds and all of its quote goes to backers, pro-rata.