Launch a coin. Open a position.

An Equity coin is an ordinary Float coin. It is launched through Float's program on Raydium LaunchLab, trades on a bonding curve, graduates to a Raydium pool, and shows up in every wallet, explorer and terminal like any other. It is listed on Float too. Float splits every coin's trading fee on chain, and 5% of that split is a dev share paid to a wallet set at launch. On an Equity coin, that wallet is the coin's own fee wallet, so the dev share funds a single position chosen at launch, for example long HYPE 3x or short ETH 5x, held in that coin's own Hyperliquid account.

That gives each coin three properties:

Everything happens in public: each claim, swap, bridge, order, profit-take, buyback and burn is logged on the coin's page with a link to the transaction.

These steps run automatically for every coin, around the clock. The keeper checks every coin about every 30 seconds.

1. 01

   Trade

   Someone buys or sells the coin, anywhere. Float charges the fee tier the launcher picked (1%, 2% or 2.5%) and splits it on chain; 5% of what Raydium leaves is the dev share, paid in the pair token.

2. 02

   Claim

   The keeper calls Float's permissionless claim instructions, and the dev share lands in the coin's fee wallet in the pair token.

3. 03

   Convert

   The pair token is turned into SOL: wSOL is unwrapped, anything else is swapped on Jupiter once it is worth at least 0.005 SOL.

4. 04

   Bridge

   Once 0.13 SOL has built up it is sent through Unit, the bridge that carries SOL onto Hyperliquid, to the coin's Hyperliquid account.

5. 05

   Margin

   On Hyperliquid the SOL (USOL) is sold for USDC and moved into the perp account. The position grows to match.

6. 06

   Profit → burn

   At +20% the profit is taken, bridged back as SOL, used to buy the coin and burned.

A launch goes through the Float program from the Equity launch form, in one wallet approval. It does three things:

1. 01

   Creates the coin

   A Float coin on Raydium LaunchLab: 1,000,000,000 fixed supply, no mint or freeze authority, paired with the token you pick and charging the fee tier you pick. It is listed on Float as well as on Equity.

2. 02

   Sets the fee receiver

   Float pays each coin's dev share to the wallet set at launch. Equity sets it to a fee wallet derived for this coin alone, not your wallet. That is what lets the dev share run the position.

3. 03

   Buys, if you asked

   An optional dev buy, paid in SOL, in the same approval. For a SOL pair the SOL is wrapped and spent on the curve; for any other pair Jupiter swaps SOL into the pair token first. The coins go to your wallet.

Float's coin mechanics

• Fixed supply of 1,000,000,000, with no mint or freeze authority.
• Starting market cap around $20,000.
• A bonding curve that graduates at about 7.5x, roughly $150,000.
• On graduation, liquidity moves to a Raydium pool and is locked forever with Raydium Burn & Earn.

Pair

A coin can be paired with any of the 400 tokens Float supports: SOL, USDC, tokenized stocks from xStocks and Sunrise, pre-IPO tokens, ZEC and XMR, memecoins and more. The pair is what the curve and pool trade against, and it is the token every fee is paid in, including the dev share. The keeper converts the dev share to SOL before bridging, whatever the pair.

Fee tier

Float charges one of three fees on every buy and sell: 1%, 2% or 2.5%. The dev share is 5% of what is left after Raydium's 0.25%, so as a share of volume it is:

Market

Any Hyperliquid perpetual that supports cross margin: majors like BTC, ETH and SOL, Hyperliquid's own HYPE, and over a hundred more. The launch page lists them all live, with price, 24h change, volume and each market's maximum leverage.

Direction

Long profits when the market goes up. Short profits when it goes down. Funding is paid or received like any Hyperliquid position.

Leverage

From 1x up to 20x, or the market's own maximum if lower. Leverage sets how far the market can move against the position before it is liquidated. Roughly:

Maintenance margin makes the real distance a little shorter. New fees add margin over time, which pushes the liquidation price further away.

Equity takes no launch fee and no cut of the dev share. All of it goes to the coin's position.

Float enforces the split on chain, and it is the same for every coin. While a coin is on its curve, Raydium keeps 0.25% of each trade. Float splits the rest of the fee:

Only the 5% dev share passes through Equity. In practice that is (tier − 0.25%) × 5% of volume: 0.0375% at 1%, 0.0875% at 2% and 0.1125% at 2.5%. The rest is Float's, and its own docs describe it.

Every Equity coin has its own fee wallet as its Float fee receiver, so each wallet holds exactly one coin's dev share. Nothing is pooled between coins.

1. 01

   Claim

   At most about every 10 minutes, when there is something to claim, the keeper calls Float's permissionless claim_coin_fees and then claim_dev_fees. The dev share lands in the fee wallet in the pair token. Float's own bot also cycles fees; either way the share arrives.

2. 02

   Convert

   wSOL is unwrapped. Any other pair token is swapped to SOL on Jupiter once it is worth at least 0.005 SOL.

3. 03

   Bridge

   At 0.13 SOL the fees are sent to the coin's Unit deposit address. Unit's minimum is 0.12 SOL; the extra covers its fee. Unit credits it to the coin's Hyperliquid account as USOL.

4. 04

   Swap

   The USOL is sold for USDC on Hyperliquid spot.

5. 05

   Deposit

   The USDC moves from spot into the perp account. It now counts as margin and raises the basis.

Every coin tracks a basis: the USDC that has gone into its account and is still working. The position is sized to:

• New fees raise the basis, so the position grows with trading volume.
• Unrealized gains never add size. A winning position is not pyramided.
• After a loss the target shrinks with equity, so a drawdown is never re-levered.
• Orders under $11 are skipped; Hyperliquid's minimum is $10.
• Orders are market orders, filled within 2% of the mid price.

Profit is measured as equity above basis. It is taken when both are true:

Then, in one pass:

1. 01

   Trim

   The position is reduced back to basis × leverage, which realizes the gain.

2. 02

   Withdraw

   The profit moves from the perp account to spot. The basis stays where it was.

3. 03

   Bridge back

   The USDC is swapped to SOL and sent through Unit to the coin's buyback wallet on Solana.

Because the basis doesn't move, the next profit-take is measured from the same line: the position always keeps working on the fees that funded it.

When SOL lands in the buyback wallet, the keeper buys the coin with it:

• Through Jupiter, which routes to the coin's LaunchLab curve while it is bonding and to its Raydium pool after it graduates.
• A small reserve (0.01 SOL) stays behind to pay the wallet's own transaction fees.

The bought coins are then burned: destroyed on chain, reducing total supply. Both transactions appear in the activity feed, and the running total is shown under “Where the fees go”.

Leverage loses money as readily as it makes it. If the market moves against the position, equity falls. If it falls far enough, Hyperliquid liquidates the position and most of the margin is lost.

When a coin's account ends up flat with less than its basis, the basis is reset to what is left. The loop then simply continues: new fees become new margin and reopen the same trade.

Every coin page has a buy and sell panel that routes through Jupiter: to the LaunchLab curve while the coin is bonding, and to its Raydium pool once it graduates. You can also trade Equity coins on Float or any terminal, such as Axiom, GMGN or Jupiter. Every trade pays the fee wherever it happens, so every trade feeds the position.

• Slippage defaults to 5%; choose 2%, 5% or 10% on the panel.
• Your wallet signs; Equity broadcasts through its own RPC and confirms the transaction.
• The bonding badge on each card shows how full the curve is.

Lifetime PnL

It is the honest score for a coin: what the fees have earned, including profit that has already been burned.

Activity events

Each coin gets its own fee wallet, buyback wallet and Hyperliquid account, derived by Equity's keeper for that coin alone. Nothing is pooled across coins.

The Equity keeper signs for these wallets and pays the Solana network fees for claims, swaps, bridges and burns. That makes Equity custodial over them: you are trusting the operator's keys and code rather than a smart contract. Every address is public, so every movement can be checked.

Float's own documentation is at floatlaunch.xyz/docs. Each coin's own addresses are on its page.

• Leverage. A position can lose part or all of its margin. Most leveraged positions eventually lose money.
• Liquidation. A fast move against the position can wipe it out before new fees arrive.
• Slow build. The dev share is a small part of each trade. Unless a coin trades a lot, its position stays small.
• Delays. Profit is only bought back after it is realized and bridged. That takes minutes, not seconds.
• Float. Float's program is unaudited and upgradeable by its team. A change on their side could break Equity's integration.
• Tokenized stocks. They are issued by third parties that can pause or claw back their tokens, which stops trading and fees for coins paired with them.
• Pre-IPO tokens. Some charge a fee on every transfer.
• ZEC and XMR. On Solana they are bridged tokens, with the bridge's risks.
• Third parties. Float, Raydium, Hyperliquid, Unit and Jupiter can pause, change or fail.
• Custody. The keeper holds the keys. A bug or a compromise of the operator can lose funds.
• Experimental. Equity is new and unaudited.
• No affiliation. Equity is not affiliated with Float or Hyperliquid, or with the companies behind tokenized stocks. A coin is not a share.
• Not an investment. None of this is a promise of returns or a security offering.

Basis

USDC that has gone into a coin's account and is still working. The position is sized on it.

Equity

The account's value on Hyperliquid: margin plus unrealized PnL.

Notional

The position's size in dollars: size × mark price.

Mark price

Hyperliquid's fair price for the market, used for PnL and liquidation.

ROE

Return on equity: unrealized PnL as a share of margin.

Float

The launchpad Equity coins are created through. Its program splits every coin's fee on chain.

Pair

The token a coin trades against and is paid fees in.

Fee tier

The fee Float charges on every buy and sell: 1%, 2% or 2.5%.

Dev share

5% of Float's split, paid to the wallet set at launch. On Equity, it funds the position.

Bonding curve

Raydium LaunchLab's launch pricing. When it fills, the coin graduates to a Raydium pool.

Unit

A bridge that brings SOL, BTC and others onto Hyperliquid as spot tokens (USOL, UBTC).

Keeper

The Equity process that runs the fee loop for every coin.