THESIS // PROGRAMMABLE_LIQUIDITYPROG v1.0.0-alpha

WHY PROGRAMMABLE
LIQUIDITY

Pump.fun solved fee execution. Tokenized Agents claim, swap, and burn autonomously — anti-frontrun by design. But every enrolled token gets the same playbook: 100% of revenue, buyback the token, burn the supply. One strategy, no knobs. $PROG is the strategy layer on top.

THESIS_TERMINAL
> DOCUMENT: PROG_THESIS_v1
> STATUS: PUBLISHED
> SECTIONS: 7
> LAST_UPDATED: 2026.03
> READING_TIME: ~4 MIN
> CLASSIFICATION: PUBLIC

■ SHIPPED

PUMP.FUN SOLVED EXECUTION

Tokenized Agents — launched in March 2026 — are pump.fun's native fee-routing system. A creator points fee sharing at a recipient address, revokes admin authority, and the protocol handles the rest: claim, swap, burn, on-chain. Anti-frontrun via probabilistic timing. No deployer intervention required.

That's the new baseline for any serious token. The old world — manual buybacks once a week, MEV-frontrun swaps, fees sitting idle in a creator wallet — is over.

But the Tokenized Agent playbook is fixed: 100% of revenue → buy the token → burn the supply. One lever. One strategy. Same outcome whether you're a memecoin, an agent, or a long-horizon protocol.

TOKENIZED_AGENT_BASELINE
Autonomous claim✓ NATIVE
Anti-frontrun timing✓ NATIVE
On-chain verifiable✓ NATIVE
Single hardcoded actionBUY → BURN
Strategy choiceNONE

■ GAP

EXECUTION IS NOT STRATEGY

Tokenized Agents handle the execution — anti-frontrun, atomic, on-chain. That's the new infrastructure floor. But execution is one half of the problem. The other half is strategy — the decision of where the SOL goes.

TOKENIZED AGENTS (BASELINE)■ EXECUTION
Autonomous claim & execute
Anti-frontrun by design
On-chain, verifiable
Hardcoded: buyback → burn only
No LP routing
No creator payout split
No conditional logic
PROG (STRATEGY LAYER)■ STRATEGY
Inherits Tokenized Agent execution + safety
4-way split: buyback / LP / burn / payout
Per-token preset or custom config
Conditional rules: MC gates, holder thresholds
PumpSwap LP deposits, not just spot buys
Per-token isolation — no cross-subsidy
Every routing event on-chain

Tokenized Agents made the question “how do we execute fees safely?” obsolete.

PROG answers the next one: where should the SOL actually go?


■ STACK

HOW PROG PLUGS INTO PUMP.FUN

Pump.fun's SharingConfig program lets a creator route fees to any wallet at 100%, then permanently revoke admin authority — making the destination immutable on-chain. That's the hook PROG attaches to.

When you launch (or enroll) a token, PROG allocates a dedicated wallet derived from a BIP-44 HD keystore (one per project, no cross-subsidy). That wallet becomes your token's fee-share recipient. Pump.fun deposits creator fees there — anti-frontrun, autonomous, native.

The PROG cranker watches every dedicated wallet. When the balance crosses a configured threshold, it derives the project's keypair just-in-time, splits the SOL per the configured strategy, and executes each stream. Pump.fun owns the deposit; PROG owns the strategy.

FEE_FLOW
01Trades happen on pump.fun
02Creator fees accumulate in vault
03SharingConfig routes 100% → PROG wallet
04Cranker detects balance ≥ threshold
05Splits per strategy preset
06Executes 4 streams autonomously
IMMUTABLE FEE ROUTEON-CHAIN

After admin revoke, no one (including PROG) can change the fee recipient. The destination is locked on-chain forever.

PER-TOKEN ISOLATIONISOLATED

Each project gets its own BIP-44 HD wallet. No shared treasury. No cross-subsidy. Compromise one wallet, the others stay clean.

VERIFIABLE EXECUTIONAUDITABLE

Every claim, swap, LP deposit, burn, and payout has a Solscan signature. The strategy is the only off-chain piece — the output is fully on-chain.


■ CORE_SYSTEM

FOUR PRIMITIVES. INFINITE STRATEGIES.

Pump.fun routes the SOL. PROG decides what happens to it. Each cycle splits accumulated fees across four primitives — buyback, LP, burn, payout — according to a configurable strategy. Five built-in presets cover the common shapes; full custom configs unlock anything.

YOUR TOKEN
Creator fees from trading volume
$PROG — PROGRAMMABILITY LAYER
CREATOR VAULT
fee accumulation
FEE CLAIMER
auto threshold
STRATEGY SPLITTER
allocation engine
SPLIT OUTPUT
35%
BUYBACK
Jupiter v6
35%
LP ROUTE
PumpSwap LP
15%
BURN
Burn Ix
15%
CREATOR
Direct Wallet
EXAMPLE: GROWTH PRESET · 4 OTHER PRESETS + FULL CUSTOM AVAILABLE
GUARDSAnti-FrontrunJito BundlesSlippage LimitsThreshold Gates
JUPITER v6
Best route across all Solana DEXs
PUMPSWAP LP
Auto 50/50 deposit on graduated pools
TOKEN BURN
createBurnChecked + null address
CREATOR WALLET
Direct SOL transfer

Each stream — buyback, LP, burn, payout — operates independently. A 40% buyback can execute on a random 4-hour window while the 25% LP deposit waits for optimal slippage conditions. The strategy engine doesn't just split capital. It schedules, guards, and optimizes each flow.

BUYBACK

Jupiter-routed swap to your token. Tokens stay in the project wallet, building treasury.

LP_ROUTE

Auto 50/50 split. Swap half via Jupiter. Deposit both sides into PumpSwap pool. Skipped pre-graduation.

BURN

Buyback-then-burn. Token-2022 createBurnChecked. Permanent supply reduction with on-chain receipt.

CREATOR

Direct SOL to your configured payout wallet. Fund development, marketing, operations.


■ ARCHITECTURE

WHY AN OFF-CHAIN CRANKER

The fee deposit is on-chain (pump.fun's SharingConfig). Every routing event is on-chain (Jupiter swap, PumpSwap LP, Token-2022 burn, SOL transfer). The only off-chain piece is the cranker that decides when and how to route. There's a reason for that.

STRATEGY AS CONTRACT
+ Fully trustless — even strategy logic on-chain
Can't query Jupiter for best route (oracle-only on-chain)
Deterministic timing — frontrunnable
Strategy changes require contract redeploy
Limited DEX integration — you ship what you wrote
STRATEGY AS CRANKER
+ Jupiter v6 routing — best price across every Solana DEX
+ Randomized timing windows — anti-frontrun
+ Strategy edits without redeploy or migration
+ Per-token isolation via BIP-44 HD keystore
+ Every output tx still on-chain & Solscan-verifiable

The fee deposit is trustless. The output is trustless. The decision in between doesn't need to be. A cranker can query Jupiter for routes, randomize timing, and adapt to market conditions — things an on-chain program structurally can't do. The strategy is the only off-chain piece, and that's the right trade.


■ ECONOMICS

THE RECURSIVE FLYWHEEL

Every routing cycle skims a 2% protocol fee in SOL. The cranker accumulates that SOL in a dedicated treasury wallet. When the balance crosses a threshold, the cranker buys $PROG via Jupiter and burns it on-chain via Token-2022 createBurnChecked. Same cranker, same keystore, separate execution path.

This creates a recursive loop: more tokens connect to $PROG → more routing volume → more SOL skimmed → more $PROG bought & burned → decreasing supply.

The protocol skim is independent from your token's strategy splits. Whether you run DEFLATION or LP_HEAVY, the 2% applies the same way — making $PROG's value tied directly to total platform routing volume.

This isn't speculative. It's revenue-backed deflation. Every protocol fee has a corresponding buyback signature. Every burn has a Solscan receipt.

FLYWHEEL
01More tokens connect to $PROG
02More routing volume generated
03More SOL fees collected
04More $PROG bought & burned
05Circulating supply decreases
06Token value appreciates
REPEAT

■ PROVEN

THIS ISN'T THEORY

The routing engine inside $PROG was validated on Solana mainnet before launch — fee-claim → Jupiter swap → PumpSwap LP cycles run autonomously, with polling-based confirmation that survives WS lag and Token-2022 burns via createBurnChecked. $PROG generalizes the proven primitives into a public protocol with configurable strategies, conditional logic, and per-token isolation.

VALIDATED
MAINNET
AVG_EXECUTION
<1s
STATUS
LIVE
PROTOCOL
v1.0
SYSTEM: ONLINE TOKENS: 0 ROUTED: 0 SOL BURNED: 0 EXEC: 0 UPTIME: JUPITER: ACTIVE PUMPSWAP: READY MEV_GUARD: ON SLOT: TPS_AVG: SYSTEM: ONLINE TOKENS: 0 ROUTED: 0 SOL BURNED: 0 EXEC: 0 UPTIME: JUPITER: ACTIVE PUMPSWAP: READY MEV_GUARD: ON SLOT: TPS_AVG: