Terminal Vault

The Terminal Vault holds 50% of the supply and manages it with rules fixed at launch. It sells a little each day, sells less as the price rises, cuts its losses on a dead launch, and ends by burning whatever it still holds. None of this is discretionary, and none of it can be changed once the coin is live.

Daily selling#

The vault sells once per day. The daily amount is a fixed percentage of the total supply, set at launch, based on which marketcap band the token is in at that moment.

Each band up roughly halves the pressure. At $10M the daily sell is half of what it was at $1M. The idea is the one Bitcoin uses with its halvings: the higher the price goes, the less new supply reaches the market.

The percentage is measured against the total supply, not the vault's shrinking balance, so a 0.25% day is the same size in tokens whether the vault is full or nearly empty. Onchain the rule is written against the vaulted allocation at 50, 20, and 10 basis points, which works out to the supply percentages above because the vault started with half the supply.

The band is always the current one. There is no memory: if the price falls from $2M back to $900k, the next daily sell drops back to the 0.25% band.

A daily sell is not dumped in one trade. The program splits it into five slices spread across the day, a few hours apart, so a single sell cannot swing the price much. The keeper passes a slippage limit that starts tight and widens only if a sell keeps reverting, and the program refuses to let that limit go past 4%. A sell that would slip too far simply waits for better conditions.

Day one#

The first 24 hours are a probation period. If the marketcap is still under $100k when those 24 hours are up, the vault stops waiting, sells its entire allocation in one go, and shuts down. There is no reason to leave half the supply parked on top of a launch that never found buyers. If the coin is above $100k at that mark, normal daily selling begins.

The terminal burn#

$100M marketcap is the finish line. The moment the price crosses it, the vault stops selling for good and enters a state that cannot be reversed, even if the price later drops. From there, anyone can trigger the burn, and every token still in the vault is destroyed.

Proceeds#

Every sale sends its SOL to a fixed recipient address chosen at setup. That address cannot be pointed somewhere else afterward. Withdrawing, unwrapping, and sweeping the proceeds are all open to anyone, and they always end at the same address. There is no path from the vault to a wallet the team controls, which is what makes a rug pointless.

The instruction set#

The program exposes nine instructions. Three are limited to the authority and only for setup and safety: initialize, set_paused (an emergency stop), and decommission (allowed only when the vault is empty). The other six are open to anyone, because none of them can send funds anywhere except the fixed address or the burn: evaluate_and_execute (the daily sell), finalize_burn, withdraw_proceeds, sweep_native, forward_stablecoin, and burn_stray_token.