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rules

The rules the program runs.

The deploy key can upgrade it until it is frozen. The notes at the bottom say what that means.

01

Fees

The coin's pump.fun creator fees are pointed at the program's fee wallet. New fees are booked once: 20% to the dev wallet, 80% to the holders. Anyone can stake the holders' part into the Jito stake pool once it reaches 0.01 SOL; the JitoSOL lands in the treasury vault. If the pool ever charges a fee on a deposit, the stake is refused.

02

The treasury

The vault holds JitoSOL, which is staked SOL. Its value in SOL rises every epoch with Solana staking rewards, so the treasury grows without anyone trading.

03

Redeeming

Anyone holding the coin can burn any amount of it and receive amount / supply of the vault in JitoSOL, and the same share of the holders' fees not staked yet in SOL, minus 10%. The supply is read from the mint before the burn, so every token in existence has the same claim, including tokens still in the pump.fun curve or the PumpSwap pool, which nobody can redeem until someone buys them.

04

The 10% that stays

10% of every redemption stays in the vault. The supply drops by the full amount burned, so every remaining token's claim goes up a little with each exit.

05

The supply only goes down

The program only accepts a coin whose mint can no longer create or freeze tokens, with no Token-2022 extension that could tax, hook, pause or take them. Nobody can print supply to claim the treasury.

What you should know.

  • ·The program can still be upgraded by its deploy key until it is frozen. Until then, whoever holds that key could change these rules, including how the vault pays out.
  • ·The deploy key can also point the dev share at another wallet (including the share already booked) and give the key up for good. It has no instruction that takes JitoSOL out of the vault.
  • ·JitoSOL is a token of the Jito stake pool. Its value depends on that pool and on Solana staking. The treasury is worth what its JitoSOL is worth.
  • ·The coin's price is set by the market, not by the treasury. A claim per token below the price means the market pays more than the treasury holds; above it, buying and redeeming is cheaper than the claim.
  • ·The coin is launched on pump.fun directly. Its fees reach the treasury because the creator points pump.fun fee sharing at the fee wallet, which the creator can change on pump.fun.

Every instruction is on the program page. Program Fzgcaam3nSMgti4uejKELeGeKiDGMB9SpCULZR2w4UQk.