every wallet that holds stay has a clock. it starts when the wallet buys and it keeps running for as long as the wallet does not sell. when someone sells, the fee from their sell is paid in bitcoin to everyone still holding, and a long clock is worth more than a short one. the numbers below are read from the chain and the keeper's ledger every two seconds.
| field | value |
|---|---|
| paid to holders | |
| payouts | |
| sell side waiting | |
| buy side waiting | |
| tokens burned by buys | |
| wallets with a clock | |
| oldest clock | |
| minimum holding |
a clock is not one number. every buy starts its own lot, and every lot has its own age. a wallet that bought once, forty days ago, has one old lot. a wallet that bought yesterday on top of an old position has an old lot and a young one. the weight of a wallet is the sum of each lot's size times its age.
a sell does not remove only what was sold. any sell, of any size, restarts every lot of that wallet at zero, and so does any drop in its balance, which is how a transfer to a second wallet shows up. the amounts stay. the time is gone. the keeper reads every holder from the chain every ten minutes and right before every payout, and it reads every sell from the trade stream as it happens.
each ring is one wallet. the heart is the oldest clock still running, and every ring outward is younger. a ring's thickness is its weight. when a wallet sells, its ring ends and it comes back as the newest ring under the bark.
| wallet | clock | balance | weight |
|---|
sell fees wait on their own side of the ledger. when a sell pushes it across the payout threshold, that sell is the trigger. the keeper swaps the sell side for cbbtc, computes every weight, publishes the full weight table and its sha256, and then sends every eligible wallet its share directly. there is nothing to claim and nothing to register. the wallet that triggered it has a clock of zero after its sell, so it receives nothing.
a wallet is eligible if it holds at least the minimum. a share too small to be worth opening a bitcoin account for waits until it has grown. each row is one weight table. the link opens the table itself, so anyone can recompute every share.
| table | sha256 | bitcoin | wallets |
|---|
each row is one payout transaction.
| signature | bitcoin | wallets | when |
|---|
buy fees do not wait for anyone. when the buy side crosses its threshold, the keeper spends it on a buyback of stay and burns every token bought, in the same transaction. the supply only goes down. every holder's balance becomes a larger part of what is left.
the keeper is one server process that holds the vault key. pump.fun fee sharing sends 100% of the creator fees to the vault. every transaction is written to the ledger below before it is sent and only booked once it is final, and before every payout the ledger is compared with the vault's real cbbtc balance. the keeper stops by itself if they disagree.
| field | value |
|---|---|
| mint | |
| vault | |
| fee split | |
| network fees reserve | |
| bitcoin waiting to be split | |
| bitcoin owed to holders | |
| cbbtc the chain says the vault holds |
one row of a weight table, packed as bytes. every cell is one byte.
the vault key lives on the keeper's server, which i run. and the clocks are computed by the keeper from the chain, not by a contract. that is why every table is published with its hash before the bitcoin moves: anyone can rebuild the clocks from the token's history and check them. if a table is ever wrong, the chain proves it.
it does not sell bitcoin. it does not keep what it buys back, because the burn is in the same transaction as the buy. it does not pay a wallet that is not in the published table. it does not send sol anywhere except a buyback or a swap to bitcoin.