value 1h 24h liquidity
price
supply
value
liquidity
intake
buffer
cumulative buy volume
intents
fills
shares
pending
orphans
tree size
it has two fans, a wheel, a bit and a vein. nobody feeds it by hand. every trade of one coin is an intent. even trades go to zcash, odd trades go to monero. what lands shielded is mined, and what is mined buys the coin back.
intents/miner is a machine attached to one coin on pump.fun. it has no operator who can turn it on, off, up or down. the only thing that reaches it is trading. every trade of the coin pays a creator fee, and that fee never sits on solana. the machine reads the trade, decides a chain from the trade's own signature, and sends the fee across near intents to land as a shielded note on zcash or an output on monero.
a fee that lands shielded is not finished. a solver has to prove it landed. the proof is a share: the note commitment or the output index, bound to the trade and to the intent by one hash, with a nonce that puts the hash under a target. an anchor program on solana checks the hash, checks the merkle path or the confirmations, and stores the commitment or the output index so it can never be claimed twice. that is the mining. the work is proving that money disappeared into a shielded pool in a way that anyone can verify and nobody can spend.
each accepted share pays a reward, and the reward is a buy of the coin on the curve. the buy pays a fee, the fee routes by its own signature, and the loop goes around again. the two chains compete. each has a target that moves after every seventeen shares on it, by the ratio of intents sent to shares accepted, damped by a quarter and clamped so neither side can run away. a chain that falls behind gets an easier target. a chain that is flooding gets a harder one.
the figure above is not a recording. every character in it is placed by code from the machine's state: the fans spin for the chains that are mining, the wheel turns once per share, the bit drops one row per share, the conveyor carries one dot per intent, and the vein row under the shaft widens with the value of everything that has been shielded and will never come back.
| trigger | what it does | state |
|---|---|---|
| a trade lands | split the fee, route by byte 63, emit an intent | |
| vein part is 0.5 sol or more | fragment up to eight ways | |
| a fill lands shielded | the solver searches a nonce | |
| hash under target | share accepted, appended to the tree | accepted |
| anchor not yet mirrored | share waits | pending |
| fewer than 10 confirmations | share waits | pending |
| quote replaced before settle | fragment becomes an uncle, half weight | |
| intent refunded | share and its children orphaned | orphaned |
| 17 shares on a chain | retarget that chain by ratio, damped, clamped | |
| share accepted | reward buy from the buffer | |
| cumulative buy volume crosses a mark | rung climbs by one | |
| both chains proving | bilateral | |
| one chain proving | unilateral | |
| neither chain proving | stalled |
| rung | mark | divisor | crossed |
|---|---|---|---|
| 0 | 0 sol | 2^4 | |
| 1 | 100 sol | 2^5 | |
| 2 | 300 sol | 2^6 | |
| 3 | 1,000 sol | 2^7 | |
| 4 | 3,000 sol | 2^8 | |
| 5 | 10,000 sol | 2^9 | |
| 6 | 30,000 sol | 2^10 |
| slot | side | sol | route | byte | fee | wallet | tx |
|---|
the viewing keys above let anyone open the machine's shielded balances without being able to spend them. with the zcash full viewing key a wallet in view only mode will list every orchard note the machine holds and the anchor each one was inserted under. with the monero view key a view only wallet will list every output the machine received and its global index. the commitments and indexes on the shares page are those same notes and outputs.
the program stores one account per commitment and one per output index. a second share for the same note or output fails at account creation. the incremental tree root on this page is the root after the newest accepted share, and the shares page shows the root after every share so the sequence can be replayed.