How Mined works
Coins don't launch the moment you click. They wait in an on-chain mempool and get mined into blocks, like Bitcoin transactions. Every rule below is enforced by the program, not by us.
1. Submit a launch
You pick a name, ticker and image, and a bid. A … listing fee is burned. Your bid sits in escrow: burned if your coin is mined, refunded if it isn't. You can raise it any time (replace-by-fee, at least …% more).
2. Buyers join before launch
Anyone can put SOL into a waiting coin, at least …, up to a … total raise. They can also add a boost, which adds to the coin's bid (child-pays-for-parent). Buyers can take their SOL out while the coin waits, except in the last … seconds before a block. Boosts stay in.
3. Blocks
Every … minutes a block takes the … highest bids among coins that have raised at least …. The program picks them itself; whoever seals the block can't choose. When blocks are busy the minimum bid rises; when they're quiet it falls. A coin that isn't picked within … blocks expires and everyone is refunded. If the mempool is full, a new launch has to outbid the lowest one, which is then refunded.
4. Mining
Mining a coin creates it on Meteora and buys with the whole genesis raise in a single swap in the same transaction. There is no gap for snipers, and every buyer pays the same price. Tokens are shared pro-rata to the SOL put in.
5. Confirmations
Genesis tokens unlock … blocks after the coin is sealed. They're sent to buyers automatically, or anyone can claim them. The coin trades on Meteora's bonding curve from the moment it's mined and graduates to a Meteora pool, with its liquidity permanently locked.
Where the money goes
Listing fees and the bids of mined coins are burned (they buy back and burn $MINED). Trading fees on Mined coins go … to burn and … to the treasury, which runs the platform, before and after a coin graduates: the graduated pool's liquidity is locked to Mined forever, so its fees keep coming. Launchers receive no trading fees. So far: … sent to burn, … of it already spent buying $MINED, which was burned on the spot.
Nobody has to trust us
Sealing blocks, mining coins, claims and refunds are permissionless: if our servers stopped, you could do all of it yourself. A coin that can't be mined within … blocks of being sealed can be aborted by anyone, and everyone gets their SOL back. The admin can't touch escrowed funds.