The rules, as deployed
How it works
Everything below is enforced by the Smeltery program on Solana. Program SMELeNhk5c5Vtkog37ZpnkfKdnBhbJyQukCEN6oNgxb. Internally reviewed, not audited.
The token
A launch is one instruction in one transaction, signed by you and by a fresh mint key made in your browser. It creates a Token-2022 mint with metadata only, a Meteora Dynamic Bonding Curve pool, the furnace account and your optional first buy.
The mint has no mint, freeze or metadata-update authority and no transfer hook. Supply is 1,000,000,000 with 6 decimals, fixed forever. It trades like any Meteora token, in any terminal.
The curve
The curve starts at about 28 SOL market cap. At about 420 SOL it completes and Meteora migrates it to a DAMM v2 pool with a 2% fee. All of that pool's liquidity is locked permanently: 44% in a position owned by the furnace's crucible, 56% by the platform.
The pool fee on the curve is a flat 4%. The creator's side of it (1.408%) goes to the crucible, which owes 71% of what it receives to the creator and keeps the rest for pours. This site adds no fee of its own.
Heats
Every furnace runs heats. A heat is done when time and trading together reach 100%: time alone fills it in the class's base time, the pool fees paid since the heat began fill it in proportion, and no heat ends sooner than the class minimum. Each level runs the time clock 25% faster.
- no trading
- 2h
- fees alone
- 0.40 SOL
- minimum
- 30m
- no trading
- 8h
- fees alone
- 1.50 SOL
- minimum
- 2h
- no trading
- 24h
- fees alone
- 5.00 SOL
- minimum
- 8h
Pours
When a heat is done, the keeper calls the pour. If the crucible holds at least 0.01 SOL, the program spends all of it buying the token on its own live pool — the curve, or DAMM v2 after graduation — and burns every token bought, in the same instruction. Below 0.01 SOL the program would skip the buyback, so the keeper waits instead: the heat stays done and pours as soon as the crucible reaches it. The buyback's own pool fee does not count as heat.
The crucible is a program-derived account: nobody holds its private key. Its SOL can only go to a pour, or to the creator's owed share. SOL spent on pours stays in the Meteora pool as that token's liquidity.
The creator
The creator's share is booked whenever fees are claimed into the crucible, and paid to the creator's wallet in SOL once it reaches 0.01 SOL. Anyone can trigger a payout; it can only go to the creator.
Quenching
A furnace whose pool sees no trade for 336h can be quenched by the admin. A quenched furnace makes one final pour with everything left in its crucible, pays the creator what is owed, and is then closed; its account rent returns to the platform. If the platform ever winds down, launches are paused and furnaces can be quenched at once, the same way.