Creator fee — Pump

Pump program will have a breaking upgrade to add support for coin creator fees. Each swap on a not-yet-completed bonding curve will send a fee to a coin creator vault account, apart from the already existing protocol fee.

BondingCurve accounts will be extended to 150 bytes to support future protocol updates, including this one. So you need to prepend an extendAccount(bondingCurve) instruction to your buy / sell txs if the bondingCurveAccountInfo.dataLen < 150.

buy and sell instructions will be modified in the following way:

• the currently unused Buy::rent account (instruction account index 10) will become Buy::creator_vault account.
• the currently unused Sell::associated_token_program account (instruction account index 8) will become Sell::creator_vault account.

Both Buy::creator_vault and Sell::creator_vault accounts are PDA accounts with the following definition:

    #[account(
        mut,
        seeds = [
            b"creator-vault",
            bonding_curve.creator.as_ref()
        ],
        bump
    )]
    pub creator_vault: AccountInfo<'info >,

So the creator_vault PDA is dependent on a new BondingCurve::creator field. The updated BondingCurve struct will look like this:

#[account]
pub struct BondingCurve {
    pub virtual_token_reserves: u64,
    pub virtual_sol_reserves: u64,
    pub real_token_reserves: u64,
    pub real_sol_reserves: u64,
    pub token_total_supply: u64,
    pub complete: bool,
    pub creator: Pubkey, // new creator field
}

There is also another change in fee calculation. There will be a new Global::creator_fee_basis_points field, which will be used in computing the creator fee. The new Global struct will look like this:

#[account]
pub struct Global {
    pub initialized: bool,
    pub authority: Pubkey,
    pub fee_recipient: Pubkey,
    pub initial_virtual_token_reserves: u64,
    pub initial_virtual_sol_reserves: u64,
    pub initial_real_token_reserves: u64,
    pub token_total_supply: u64,
    pub fee_basis_points: u64,
    pub withdraw_authority: Pubkey,
    pub enable_migrate: bool,
    pub pool_migration_fee: u64,
    pub creator_fee_basis_points: u64, // new creator fee bps field
    pub fee_recipients: [Pubkey; 7],
    pub set_creator_authority: Pubkey,
}

Currently, the Global::creator_fee_basis_points field is set to 0. But you can start using the new fee calculation logic from now to be ready for the creator fee update. The latest version of our Typescript SDK includes the updated fee logic: Pump SDK (including the source code of the SDK).

These functions do not include slippage in their calculations, but the slippage needs to be applied to sol amount for both buy and sell instructions. Instructions which allow slippage for coin amount will be added to the Pump program in the future.

All non-completed bonding curves will start receiving creator fees on swaps after the coin creator fee update is deployed and Global::creator_fee_basis_points is set something else apart from 0.

The BondingCurve::creator parameter will be populated from:

• the creator argument passed to create instruction for newly created coins. So be careful what creator pubkey you pass to the create instruction, as that pubkey will receive all the creator fees for that coin.
• the Metaplex creator metadata for coins which have it, by using the set_metaplex_creator instruction. You can include this instruction in your transactions, but it's not needed, as our backend service will listen for TradeEvents and will set the BondingCurve::creator dynamically for coins missing it.
• our coins storage for coins created in the past and don't have Metaplex creator metadata. The backend service will listen for TradeEvents and will set the BondingCurve::creator dynamically for coins missing it using the admin set_creator instruction.

The fees accumulated in a creator vault account can be transferred to the creator's wallet using the collectCreatorFee(creator) instruction. The creator needs to sign the transaction including this instruction.

The currently deployed Pump program on Mainnet is backwards-compatible with the new update, so you can start using the new IDL from now, to be ready and not experience any downtime when the creator fee update gets released.

We already updated the Devnet program, so you have time until Monday to implement the changes above. Ideally, the same code should work on both the creator fee update on Devnet and the current Mainnet program, before we update Pump program on Mainnet to the creator fee update.

We are also trying to release the Pump program Typescript SDK by Monday, so you can use it. The bondingCurve.ts file is part of the upcoming Pump program Typescript SDK.

Coin creator fees update

We will deploy a breaking update to both Pump and PumpSwap (Pump AMM) programs to add support for coin creator fees on Mainnet on Monday, May 12, 11:00 AM UTC.

On Devnet, both programs have already been updated to support coin creator fees.

Who will receive coin creator fees?

• all non-completed Pump bonding curves;
• all canonical PumpSwap pools will. Canonical PumpSwap pools are pools created by Pump program migrate instruction for completed bonding curves.

Who will not receive coin creator fees?

• coins already migrated to Raydium, as that program is not under our control.
• normal PumpSwap pools which are not created by Pump program migrate instruction.

You should start by using the latest IDL files for both programs from the idl directory. They are backwards-compatible with current programs deployed on Mainnet, so you can start using them now.

You can also use our Typescript SDKs for easier integration:

• Pump SDK
• PumpSwap SDK

If you implement and test the changes described in these two documents on Devnet before the creator fee upgrade, you should not experience any downtime. Ideally, you should use exactly the same code for both Devnet and Mainnet, before we update the programs on Mainnet.