How SQUADWARS works

What SQUADWARS is

pump.fun's Squad Invitational ranks squads of up to 20 traders by PnL for a $2.5M prize pool. SQUADWARS lets anyone back a squad with a coin.

You launch a normal pump.fun coin and pair it with one squad. The coin trades on pump.fun like any other. Its creator fees (the cut pump pays a coin's creator on every trade) go to that squad's members instead of to you.

What a launch does

The launch is one Solana transaction, signed once by your wallet. It has three pump instructions:

• create_v2 creates the coin on pump.fun with you as the initial creator.
• create_fee_sharing_config moves the coin's creator role to a per-coin fee-sharing account owned by pump's fee program.
• update_fee_shares sets that account's only shareholder to the SQUADWARS treasury at 100%. For a trader coin it sets two: the trader at 60% and the treasury at the rest.

Before the coin is listed here, the server reads the coin's bonding curve and fee-sharing account from chain and checks both conditions. A coin that fails the check is never shown. The image and metadata are stored permanently on Arweave. There is no bundled dev buy: buy on pump.fun right after launch if you want a bag.

Fee math

Each time the distributor claims a coin's fees, it does this with integer lamports, so nothing is lost to rounding:

• floor is 2% per member by default. Members at or below zero PnL get exactly the floor; with a full squad of 20 that guarantees everyone something and leaves 60% of the pool to follow PnL.
• Equal split fallback. If any member's PnL is older than the staleness window (6 hours by default), or nobody is in profit, the pool is split equally. The log shows which rule was used.
• Dust carries over. Shares under 0.001 SOL aren't sent (the transfer would cost more than it pays). They're owed and added to that member's next payout.

Worked example

A coin's vault has 1 SOL of creator fees. Its squad has four members (kept small to read easily). Floor is 2%, platform is 15%, the $WARS buyback is 25%. The numbers below come from the same function the distributor runs.

Members C and D each get the floor. The remaining 92% of weight is split 3:1 between A and B because their PnL is 300 vs 100 SOL. Every lamport of the pool is assigned.

$WARS buyback & burn

25% of every claim buys back $WARS, SQUADWARS' own token, and burns it. The more squad coins trade, the more $WARS leaves the supply for good.

• Set aside first. The buyback share of each claim stays in the treasury as a reserve. Until $WARS launches, it simply builds up; nothing is spent.
• Bought in batches. Once the reserve passes 0.05 SOL, the distributor swaps it for $WARS through Jupiter, with a 3% slippage cap. Before signing, it simulates the swap and refuses if the treasury would spend more than the reserve.
• Burned right after. The bought $WARS is burned in the next transaction. Each burn takes the treasury's whole $WARS balance, so nothing can pile up there.
• On the record. Every buy and every burn is listed on Payouts with its transactions.

Trader coins

A coin can pay one trader instead of a whole squad. On the launch page, pick a squad, then One trader and one of its members. Only members of a squad on the competition board can be picked, and each has a trader page under their squad.

• Paid by pump, directly. The launch makes the trader a shareholder in pump's fee sharing at 60%. Every claim sends their share straight to their wallet in the same transaction; SQUADWARS never holds it.
• Same buyback and platform cut. The treasury holds the other 40% and splits it into the $WARS buyback (25% of the total) and the platform cut (15%).
• Locked at launch. Like a squad coin, the split can't be changed later, even if the trader leaves their squad.
• Not the trader's coin. Anyone can launch one without asking. The coin page says so and shows who launched it.
• Opting out. A trader can sign a free message on their trader page so no new coins can be paired to them. Coins already launched keep paying them, because pump doesn't allow a split to change.

How PnL is measured

Squad rankings come from pump.fun's competition board. Payout weights don't. pump's API isn't reachable from servers, and payouts shouldn't depend on a third party being up. So we measure each member's PnL ourselves, from chain:

• Every swap the member's wallet made since the competition started (26 Oct 2026 14:00 UTC), read through Helius.
• For each swap: SOL (and wrapped SOL) that left the wallet counts as out, SOL that came back counts as in.
• PnL = SOL in − SOL out. It's realized only: open positions don't count until they're sold. It includes network fees.

This is a deliberately simple, reproducible number. It won't match pump's board exactly (pump also counts unrealized PnL and only on-platform trades). Anyone can recompute it from the same transactions.

The distributor

A scheduled job does one pass per run:

• Finishes any earlier distribution that claimed but didn't finish paying, after checking which transfers actually landed.
• For each live coin, simulates pump's distribute_creator_fees to see what's claimable. Below 0.01 SOL it skips the coin; the claim would cost more than it's worth.
• Claims the fees into the treasury and measures exactly what arrived from the transaction's balance changes.
• Writes the split to the public log, then sends transfers in batches of 10 wallets per transaction.
• For a trader coin, pump already paid the trader inside the claim, so the log records that payment with the claim transaction and only the platform cut moves after.

Claims are recorded before they're broadcast, and every payout is reserved before it's sent and confirmed after, so a crash or two overlapping runs can never pay anyone twice or lose track of claimed fees. Operators can run it in dry-run mode, which logs the intended split without sending anything. Dry runs show up in the log marked as such.

Verifying a payout

• Open any row on the payouts page. The claim transaction shows pump's fee program paying that coin's fees to the treasury.
• Each member transfer links to its own transaction. Transfers go straight from the treasury to the member wallet.
• The weights are shown next to each transfer. Re-run the formula above with the members' on-chain PnL to check them.

Squad data

Squad membership is locked for the competition, so we capture it once. pump.fun's API refuses servers, so an admin runs the import from a normal browser: it reads every squad on the board (name, avatar, banner, members' wallets and competition PnL) and uploads it here. Avatars and banners are copied to our own storage.

Ranks and competition PnL stay live without anyone pressing a button. pump.fun only serves its data to its own site, so a relay reads the board about every 30 seconds and pushes it here, and this site refreshes the leaderboard in place every 15 seconds. The status above the leaderboard says how fresh it is: Live, or Delayed with the time of the last update. Members never change, so the people a coin pays are the people who were in the squad when it launched.

Risks

• Memecoins are extremely risky. Most go to zero. Launching or buying one can lose all the money you put in. Nothing here is financial advice.
• Fees depend on trading. A coin nobody trades earns nothing for its squad.
• Smart contract risk. Coins live on pump.fun's programs. A bug or change there affects every SQUADWARS coin.
• Operator risk. Claimed fees sit in a hot treasury wallet until they're paid. If the distributor stops, fees keep accruing in the coin vaults and are paid when it resumes.
• Data risk. Squad data comes from a snapshot of pump.fun. Our PnL measure is an approximation by design.
• Not affiliated with pump.fun. pump.fun doesn't endorse, operate or guarantee SQUADWARS. Check that using it is legal where you live.

FAQ

Addresses

Everything SQUADWARS touches on-chain. Programs belong to pump.fun.

Network: mainnet-beta·pump.fun public docs