Issue No. 1 · Solana · Rated weekly
The top 20 Solana memecoins.
Rated, weighted, locked.
DNP20 is an on-chain index of the twenty most traded Solana memecoins, market-cap weighted with a 10% cap and rebalanced every Friday. The DNP coin pays for its liquidity: half of every creator fee becomes DNP20/SOL liquidity. 100% of the liquidity is time-locked: nothing unlocks for 3 months, then it releases in 4 monthly tranches of 25%, fully unlocked 6 months after launch. Nothing is permanent.
……Everything the protocol earns, creator fees and the keeper's mint and redeem proceeds, is split 50/50 between locked liquidity and the team. Trust page.
The swap form appears here the moment the DNP20 pool is live. Until then the index exists only as a plan.
- 1Pick DNP20 (the index) or DNP (the coin)
- 2Connect any Solana wallet
- 3Swap SOL, routed by Jupiter, no account needed
Loading Jupiter…
Swaps through the DNP20/SOL pool on Meteora. The strip below says whether the pool or minting is cheaper for your size.
Large orders: Mint at NAV coming soon. Until then, the cost-to-mint table shows where the pool stops being the cheaper route.
The index goes live in steps
…
Order matters: the vault, the pool and the lock exist before the coin, so the first creator fees have somewhere to go. Each step's transaction appears in the log.
The index
Twenty constituents, weighted by market cap with a 10% cap. The vault holds the tokens; one DNP20 is a pro-rata claim on it. Ratings are our opinion. The weights are arithmetic.
| Rating | Constituent | Weight | Price | 24h | Per DNP20 |
|---|---|---|---|---|---|
| loading the vault… | |||||
Live ranking by the basket rules
Top 30 Solana memecoins by 7-day DEX volume that pass the screens: 1,000+ holders, $250k+ liquidity, 14+ days old. ● constituent · ○ on the bubble (ranks 21–30). A constituent leaves only when it falls below rank 30; a newcomer enters from the top 20 when a slot frees.
| # | Token | 7d volume | Market cap | Liquidity | Holders | Age |
|---|---|---|---|---|---|---|
| loading the ranking… | ||||||
Cost to mint
Two ways to get DNP20: buy it in the pool, or buy the twenty tokens on Jupiter and deposit them to mint at NAV. The keeper does the second whenever the first is more than a few percent dearer, which is what keeps the pool honest.
- Constant-product quote on the pool's live depth
- Price impact …
- 20 Jupiter buys, swap cost … at this size
- Folio mint fee 0.15% (Reserve's DAO floor)
- ≈ 24 transactions, … SOL in fees
Liquidity
The DNP20/SOL pool is owned by one position that the program will not release early. 100% of the liquidity is time-locked: nothing unlocks for 3 months, then it releases in 4 monthly tranches of 25%, fully unlocked 6 months after launch. Nothing is permanent. Every fee run adds to the same position under the same calendar.
Unlock schedule
| Vesting account (on-chain lock) | Cliff | Tranches | Released |
|---|---|---|---|
| no position yet | |||
Bankroll
Everything the protocol earns is split 50/50 between locked liquidity and the team. Creator fees arrive in PUMP and are split by a sharing config that was locked after one update; the keeper's mint-to-NAV and redeem-to-NAV proceeds are split the same way, half to the locked position, half to the team multisig. Every project wallet, live:
Creator fee 2.00% of every trade, in PUMP. Sharing config: … · immutable
Transaction log
Everything the keeper does, newest first, with the transactions. Mint to NAV and Redeem to NAV rounds post their proceeds; at each fee-to-LP run the accumulated proceeds settle in a "proceeds split" entry with both legs: half to locked liquidity, half to team. Each signature is checked against the chain once by the API; a ✓ means the transaction is confirmed there.
- loading…
Holder rewards
The index charges a 1% per year management fee, paid in newly minted DNP20. 85% of it is airdropped monthly to DNP coin holders with a position of $25 or more, pro rata. 15% goes to Reserve's DAO, the Folio program's floor. No promise beyond that arithmetic.
Trust
Every wallet, what it may do, and what it holds right now. The team is pseudonymous and the keeper's code is private, so the proof is on chain: every action it takes is in the transaction log with its signature.
Wallet map
loading wallets…
The dev allocation
Dev holds 1.5% of supply, bought at creation for at most 1 SOL of PUMP, not locked. It sits in the deployer wallet, live: …. That is the team's entire position in the coin. Beyond it, the team earns half of creator fees and half of the keeper's mint and redeem proceeds; the other half of both becomes locked liquidity.
The fee split is immutable
The coin's creator fee (2.00%, in PUMP) is routed by pump.fun's fee-sharing program. We created the config and made one update: 5,000 bps to the liquidity multisig, 5,000 bps to the team multisig. The program allows no further changes, so the split cannot be moved, paused or redirected by anyone, including us. Config: ….
What we can still do
The multisig owns the Folio: it can change fee recipients and rebalance roles, and remove a constituent whose liquidity collapses. The keeper sets auction price bands at each rebalance from public Jupiter quotes (±3%, posted before auctions open). Nobody can take tokens out of the vault except by burning DNP20, and nobody can unlock the position early. 100% of the liquidity is time-locked: nothing unlocks for 3 months, then it releases in 4 monthly tranches of 25%, fully unlocked 6 months after launch. Nothing is permanent.
How the keeper works
- Claims fees. Every 15 minutes it calls the permissionless distribute instruction; the sharing config pays half the PUMP to the liquidity multisig and half to the team.
- Converts PUMP to SOL on Jupiter. Nothing is held in PUMP between runs.
- Buys the basket. Half of the SOL buys the twenty constituents in the vault's current proportions.
- Mints DNP20 by depositing the basket into the Folio, at NAV.
- Adds and locks liquidity. The DNP20 and the other half of the SOL go into the pool position and are locked to the same calendar as everything before them: nothing unlocks for 3 months, then 4 monthly tranches of 25%.
- Mints to NAV, redeems to NAV. When the pool trades a few percent above NAV it mints and sells; below, it buys and redeems. The proceeds are split like everything else: half to locked liquidity, half to the team.
The keeper is a hot wallet. It can spend from the liquidity multisig only through a Squads spending limit that the multisig can revoke at any time, and it never holds the position NFT.
What third parties control
Reserve (Folio)
- Can upgrade the Folio program (upgrade authority
BesR…8A1M); an upgrade is visible on chain - Collects 0.15% of every mint and 15% of the management fee, by program rule
- Cannot move vault tokens, change our weights or stop redemptions through the program as deployed
Meteora (DAMM v2)
- Can upgrade the pool program or pause pools
- Takes 20% of pool fees as protocol fee
- Cannot release the locked position early: the lock has no cancel instruction
pump.fun
- Can change its program and the fee schedule for new coins
- Its admin can reassign a coin's creator in some cases
- Cannot change our sharing config's shares; our exposure is one 15-minute interval of fees
Every address
| What | Address | Controlled by |
|---|
Everything the protocol earns is split 50/50 between locked liquidity and the team. Coin trades → 2% creator fee (PUMP) → 50% liquidity multisig → every 15 minutes: PUMP → SOL, half into the 20 constituents → minted into DNP20 at NAV → DNP20 + SOL added to the locked position and locked to the same cliff; 50% → team multisig. Keeper mint-to-NAV and redeem-to-NAV proceeds → 50% locked liquidity, 50% team multisig. Index pool trades → 1% fee (5% in hour one) to the locked position. Vault → 1%/yr management fee → 85% coin holders, 15% Reserve's DAO.
Data: this page polls a read-only API that reads the chain, Jupiter and DexScreener; it holds no keys and sends nothing. Announcements and every fee run: @DegenPoors on X.