> briefing loaded_

How The Hatchery works

A token launchpad on Meteora's Dynamic Bonding Curve, quoted in $BITCOIN on Solana. Spawn a token in one transaction and, as its creator, earn a cut of every trade it makes, before and after it graduates.

1. 01

   Spawn

   Fill in a name, ticker, image and links. One transaction creates the token and its Meteora Dynamic Bonding Curve pool, optionally consuming tokens for you so nobody gets in ahead of you. Mint addresses come from a vanity pool and end in "hpos". Supply is fixed at 1 billion, there is no mint authority, and metadata is immutable.

2. 02

   The bonding curve

   Price rises as people consume and falls as they purge, along a curve defined by the launchpad config. Every token spawned here uses the same config, so every curve plays by the same rules. Progress shows how much of the graduation threshold (migrationQuoteThreshold in /config) has been raised in the quote token.

3. 03

   Paying in SOL or the quote token

   Curves are priced in the quote token, $BITCOIN. You can pay with SOL: a Jupiter SOL to $BITCOIN swap runs inside the same Consume transaction on the curve. Or pay in $BITCOIN directly. Purge trades can pay out in either.

4. 04

   Fees

   Every Consume and Purge trade pays the trading fee shown above, in the quote token. Meteora keeps its fixed protocol share; the platform claims the rest every few minutes and sends the creator share straight to the wallet that spawned the token, and the platform share to the treasury. Every claim is published on the token page with its transactions. Holder reflections exist but are off by default; if the operator turns them on, holders are paid pro-rata from the same claim.

5. 05

   Graduation

   When the curve fills, the pool migrates to a Meteora DAMM v2 pool automatically. The liquidity is permanently locked. The same fee applies on the DAMM v2 pool and the split stays identical, so creators keep earning. After graduation, trades route through Jupiter.

6. 06

   Risks

   These tokens are created by anyone and are highly speculative. Creator earnings only exist when people trade, so they can be zero. Nothing here is a promise of profit. Check the contract address, and never trade more than you can afford to lose.

Every token wears an evolution stage. It is only a label over real on-chain state: the stage is derived from the curve's actual progress and status, never the other way round, so it can't overstate how close a token is to graduating.

• ILarvaBonding curve under 10% filled
• IICocoonBonding curve 10–66% filled
• IIIMutatingBonding curve over 66% filled
• IVHatchingCurve complete: graduating to a DAMM v2 pool
• VHatchedGraduated: hatched, trading on a Meteora DAMM v2 pool

On the creep a token is a mob: a larva under 10% of the curve, an egg after that, and a hatchling once it graduates. From there it grows with its market cap, as long as enough holders back it:

• Zerglinggraduated
• Hydralisk≥ $100K25+ holders
• Mutalisk≥ $250K50+ holders
• Queen≥ $500K100+ holders
• Defiler≥ $1M250+ holders
• Ultralisk≥ $5M500+ holders

Dead means no trades for a day; one trade revives it. Rugged is final and only for a graduated token that had real traction (at least 15 holders and a day over $8k volume), whose creator then purged more than half their bag, after which it collapsed (6 hours without a trade, or 70% below its high). Coins still on the curve are never marked rugged.