This site is a preview. It does not submit deposits or pool sales. The pool descriptions below explain the program, not an available trading service.

What is built

• Fixed-price buyback pools. A backer puts in USDC for one token and chooses the pool size: how many tokens the pool buys, any whole number from 1,000 up to the most the token’s decimals allow: 18,446,744,073 for a token with 9 decimals, more for a token with fewer. They also choose how long the pool buys: a week, a month, 3 months or a year. The pool’s price is its payout divided by the pool size, and it does not change while the pool is open. Pools open on Monday, Wednesday and Friday at 12:00 UTC, at the one of these times their backer picks, from 72 hours to a year after making them. Until then a pool waits, listed as opening soon, and it cannot be cancelled.
• Selling into a pool. Once a pool is open, anyone can sell the token into it at its price, any amount up to what the pool still buys. Every token sold is burned (destroyed for good) in the same transaction. When someone sells a pool’s last tokens, they get all the payout it has left.
• Hourly chains. Every hour, the contract picks up to 3 chains of up to 5 tokens, from the tokens whose pools are open. Fresh tokens go first: tokens never in a chain, and tokens back after all their pools ran out. The random number comes from a future Solana block, so neither DragHold nor the person who starts the draw can choose which tokens end up together. The draw reads the list of tokens in parts, so it keeps working as the list grows. Each chain is announced one hour before it opens and stays open for one hour.
• The chain bonus. Selling the same amount of each of a chain’s tokens together pays every pool its price plus its bonus. A token whose pools are sold out is skipped, and even if only one token is left, it still pays its bonus.
• Money back. When a pool closes, or has bought all its tokens, one transaction that anyone can send returns everything left in it to its backer.
• Checks. Automatic tests cover program instructions and selected edge cases. A “fuzzer” runs random series of deposits, sales, chains and closings, and checks the books after each step: every vault holds exactly what it should, and what was paid out plus what went back equals each deposit minus its fee.
• The crank bot. A script that anyone can run every hour. It picks the next hour’s chains, closes finished pools and removes finished chains. Rewards can offset costs, but may not cover them: whoever closes a finished pool gets the small deposit Solana keeps for its accounts (about 0.005 SOL a pool), and a crank fund can pay a small reward for each step of the draw and each chain removed.
• This site. It has a pool calculator, example floors and chains, a simulation and this Glob. It does not yet submit pool transactions.

How it all works, in full: How it works.

What is planned next

An external audit of the contract. It has no date yet. The contract is not audited yet, so put in only money you can afford to lose.