BUILT ON SOLANAWhat Open Pit is
Open Pit is a fee-claiming machine, not a single product. Whatever product is capturing volume — the Launcher, or a coin launched against a custom pair — feeds the same claim, split, and payout pipeline. Pits sit alongside both as a persistent yield-capture layer: NFTs with an attached vault that earns a slice of every product's revenue, independent of any single product's volume cycle.
How a fee actually gets here
A coin launched through the Launcher picks one of two venues — pump.fun or Raydium LaunchLab — and its trading fees accrue on that venue's own program, in a wallet Open Pit doesn't control directly. Two dedicated instructions (pull_pumpfun_creator_fee and pull_launchlab_creator_fee) sign as that coin's own on-chain FeeWallet PDA to call the venue's real fee-claim instruction directly on mainnet — not a synthetic number, a real CPI into pump.fun's or LaunchLab's own program. Once those fees land in the FeeWallet's balance, claim_and_split_fees is what actually divides it across the buckets below.
A coin can also launch against a custom pair instead of one of the built-in Stocks/Crypto categories — see the Launcher's pair-asset picker.
The fee split
Every claimed fee splits into seven buckets, in fixed proportions that always sum to 100%:
The early-holder boost. During a coin's configured boost window (an example figure the team has used elsewhere is 48 hours after launch), the Pit Pot's bucket shifts most of its 11% down to a 3% floor, and the difference goes to Holders instead — but only when the Pit Pot has already caught up to what it would have earned at its full base rate across every claim so far. If it hasn't, that claim skips the boost so the Pit Pot can catch back up first, rather than compounding a shortfall. Every other bucket is untouched either way.
Pits: tiers, minting, and rounds
Minting a Pit burns $PIT and pays a SOL surcharge, at one of four tiers. A tier's weight is what it earns relative to every other minted Pit — a Diamond earns 20x a Bronze's share of every Pit Round, for exactly as long as both stay activated.
When the Pit Pot crosses its trigger threshold (0.05 SOL), a permissionless keeper runs a Pit Round: it buys a two-stock basket and updates one on-chain reward accumulator per stock leg. Claiming is lazy and pull-based — a Pit's pending reward is computed from its own weight against the live accumulator value, so a newly minted Pit never retroactively claims rounds that ran before it existed. Holder payouts work the same way on their own threshold: once a coin's accrued-but-unclaimed holder pot crosses 0.1 SOL, a keeper runs a holder round that pays every real holder pro-rata to their balance.
Both round triggers are deliberately delayed by a short, unpredictable-in-advance jitter window once their threshold is crossed — a real, on-chain mechanism against MEV-style front-running of the exact trigger moment, not just a fixed cooldown.
The Insurance Reserve
3% of every claimed fee funds a dedicated reserve. Every reward credit in this system is always backed 1:1 by a real, verified transfer, so a Pit can never be under-credited by a bad fill — what a bad fill, partial fill, or stale price can do is make the keeper's real cost of sourcing the committed stock or $PIT exceed what the round's own budget covers. The reserve tops up exactly that gap, priced against the same on-chain oracle rate the round's own slippage floor already checks against — never a keeper-reported number. If the reserve can't cover the gap either, the whole round reverts: no partial credit, no partial draw. Every draw is logged on-chain and shown on the Revenue page.
$PIT: buyback, burn, and dividends
The Buyback bucket (9% of every claimed fee) funds real SOL → $PIT market buys, and every buy is burned via a real SPL burn instruction from a vault whose only signer is its own PDA seeds — not a transfer to a null address, permanently and verifiably unrecoverable.
Separately, the $PIT-holders bucket (5%) is paid out every 12 hours to $PIT holders above an eligibility bar (roughly $20 of held $PIT, priced against the same on-chain oracle used elsewhere — a real check, not a fixed token-count cutoff). Holders below the bar still count toward that round's completeness check so a keeper can't shrink the eligible set by omitting small holders, they just aren't paid that round. Locked supply (team/treasury holdings) is excluded from every round by an explicit on-chain exclusion list, not by convention.
Trading a launched coin
Every coin page's trade widget routes through Jupiter's Ultra API for real, signable swap transactions — not a static quote. Slippage defaults to Auto, which asks Jupiter for its own real-time slippage estimate rather than applying a fixed default; a custom percentage is always available if you'd rather set your own floor. Each coin page also has a Trades tab (the most recent real swaps on that coin's pair, with buy/sell correctly attributed to that specific coin) and a Holders tab (the top holders by real on-chain balance, with their share of total supply) alongside its price chart.
Self-verifiability
Every payout, buyback, burn, and claim links out to its transaction on Solana Explorer. That's deliberate — this protocol is built to be checked, not trusted on the strength of a summary number.
For developers: the indexer API
Every number on this site is backed by a real indexer reading the program's own on-chain event log and account state — nothing here is a maintained-by-hand summary table. The same read-only REST API this site calls is public:
List endpoints accept an optional ?limit= query param. There's no authentication — it's the same public data this site itself reads.