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Vellum
Buy $VELLUM

Put it in writing.

Vellum is a Solana launchpad where every coin ships with a charter: dated promises from the dev, each backed by a bond. Keep a promise and the bond comes back. Break it and the bond is paid to holders.

Write a charterRead the examples

Pre-launch. The program isn't on mainnet and no coin can be created or traded yet.

Charter of Ledger Cat

By this charter the maker of $LEDGR binds 3 promises to the coin. Each is backed by a bond the program holds. Kept, the bond returns to the maker. Broken, it is paid to the holders.

  1. Ship the holder tracker program to mainnet.

    Due day 7Program live50% of the bond

  2. Burn 1% of the supply from the dev wallet.

    Due day 10Burn 1%20% of the bond

  3. Still hold the whole dev buy a month in.

    Due day 30Hold 100%30% of the bond

Sealed at launch. Nobody can change a word of it afterwards, the maker included.

An example charter, twelve days in.

How it works

Three steps, one sheet

A charter is short on purpose. If it doesn't fit on one sheet, it isn't a promise.

  1. Write the charter

    Before launch the dev writes up to six promises. Each has a deadline, a share of the bond money and a way to prove it. Then the charter is sealed for good.

  2. Trading fills the bonds

    The creator's part of every trade fee doesn't go to the dev. It goes into the bonds of the promises that are still open, on top of whatever the dev bonded up front.

  3. Deadlines settle them

    Proof in time: the bond returns to the dev. No proof by the deadline: anyone can settle it, and the bond is paid to holders in proportion to what they hold.

Simulator

Break a promise

This is the example charter from the top of the page. Choose which promises the dev keeps and watch where each bond goes. The numbers come from the same rules the program will run.

60 SOL ($9,000)

2 SOL

What the dev does

  • Ship the holder tracker program to mainnet. Day 7.

  • Burn 1% of the supply from the dev wallet. Day 10.

  • Still hold the whole dev buy a month in. Day 30.

  1. Promise I, day 7

    2.26 SOL goes back to the dev

  2. Promise II, day 10

    1.34 SOL goes back to the dev

  3. Promise III, day 30

    9.2 SOL is paid to holders

Paid to holders
9.2 SOL
Back to the dev
3.6 SOL

A wallet holding 1% of the tokens in holders' hands would receive 0.092 SOL. Over the same 30 days the protocol earned 7.2 SOL.

A model, not a forecast: steady volume, 1% trade fee, 60% of it to the bonds. Real volume is never steady and can be zero.

Proofs

Four ways to prove it

A promise without a test is a tweet. Every promise in a charter names how it will be checked.

Guarantees

What the program enforces

These describe the design. The program isn't deployed or audited yet, and this page will say so until it is.

Fees

One percent, split in two

Every buy and sell pays a 1% fee. 0.6% fills the coin's open bonds, and goes to the creator directly once every promise is settled. 0.4% goes to the protocol.

Launching a coin
0.05 SOL
Settling a promise
Network fee only
Cut taken from a bond
None

Examples

Charters to read

Not real coins. Each opens a trading page with simulated trades, so you can see seals being pressed and cracked.

See all the examples

Questions

Fair questions

Is a bond a refund if the coin goes to zero?

No. A bond is the creator's fee income, plus whatever they put in up front. It can be much smaller than what holders lose. It makes breaking a promise cost something; it doesn't make a coin safe.

What stops a dev from promising something trivial?

Nothing, and you can see it. The charter is public before you buy, and each coin page lists plain facts about it: how much is bonded up front, how many promises rely on a witness, when the first deadline falls.

Who is the witness?

A wallet the creator picks at launch, shown in the charter. Vellum doesn't choose or vet witnesses. A promise judged by a witness is only as good as that witness, so the coin page flags them.

What happens to fees once every promise is settled?

With nothing left open, the creator's part of the fee goes to the creator directly. A dev who wants to stay accountable writes promises with later deadlines.

Can I launch a coin today?

Not yet. The on-chain program isn't deployed, so the launch button sends nothing. You can write a charter, run the simulator and read the example coins, which are clearly marked as simulated.

Got something to promise?

Write the charter now and keep the draft. You'll be ready the day launches open.

Write a charterBuy $VELLUM