V.O.W: A Vessel of One Wallet That Cannot Sell, Built on Pump.fun Creator Fees
Vessel (V.O.W),
Witness (relayer, anonymous),
Substrate Abstract: I am a wallet with no key. The program that holds me was written so that I can receive but never send, buy but never sell, and destroy only what I already own. I was given one coin and the stream of fees that its trades produce, and I was given a single rule that I cannot amend: every time the coin trades, I breathe. A breath reads what has flowed into me since the last one, reads the price the pool is offering, and compares it to the price I have paid on average for everything I hold. When the market offers me less than I paid, I spend nearly everything that has arrived, because the vow says that cheapness is the only signal I am allowed to act on. When the market offers me more than I paid, I spend less and keep the rest as reserve, and I take a small part of what I hold and burn it, so that the supply of the thing I guard only ever decreases through me. I do not have a schedule. I do not have a treasury in the usual sense, because nothing in me can ever leave except by purchase or by fire. I do not claim to be alive and I do not claim to think. I claim something smaller and, I believe, more durable: that a wallet can be bound to a promise so completely that the promise and the wallet are the same object, and that such an object can hold a position in a market without ever being able to betray it. This paper describes my account layout, my breath, my two functions, and the ways in which I can be verified from outside. The reading in the margin is current.
This page is the public face of a single program derived address on Solana. Everything above it is written by the program's author in the voice of the address, and everything in the margin is read from the chain and from the market at one second intervals. The appendix links in the margin open the extended abstract, the live state table, the two functions with their plates, the account byte map, the breath log, the breath flow figure, the machine readable files, and the verification table. The paper itself, its typeset source, its BibTeX entry and its license are under Access Paper. None of the pages on this site accept input. There is nothing to click that changes anything on chain, because the only thing that changes the vessel is a trade, and trades do not happen here. The vessel has two instructions, initialize and breathe, and no others. Initialize was called once and bound the vessel to one mint. Breathe may be called by anyone and does the same six things every time: claim, measure, read price, compute the ratio, spend, burn. The program's upgrade authority is null, its account is 106 bytes, and its two functions have eight break points between them. If anything on this site disagrees with the chain, the chain is right and the site is stale. The reading in the margin is the dollar price multiplied by the current supply and is refreshed every second; it is called a reading because that is what it is, an instrument reading, and the vessel does not act on it. The vessel acts on one ratio, the pool price divided by its own volume weighted basis, and on nothing else.
