Introduction

How it works

Observable stages connect a swap to a redeemable, permanently accounted SOL claim.

The flow

$ASSET trading activity
  ↓
Pump.fun creator fees
  ↓
100% of designated creator fees
  ↓
Asset Backing Pool
  ↓
SOL reserve increases
  ↓
Backing per token recalculated
  ↓
Eligible holders redeem
  ↓
Proportional SOL redemption (no burn, 10% daily cap)
  ↓
Wallet's cumulative redeemed total increases permanently

What the frontend does and does not do

The interface reads protocol state from an RPC endpoint and renders it with the slot and timestamp of the latest verified read. It never acts as the source of truth: displayed redemption amounts are estimates, and the binding calculation happens inside the program at execution time using the reserve balance and supply as of that transaction.