How the desk works

What the desk is

A launchpad coin here is an ordinary coin with one thing written into it at birth: its fees go into a stock, and its holders get paid in that stock. The desk is the list of every coin carrying that mark, on both launchpads, dead ones included.

Nothing on the desk is curated. If a coin carries the mark it is here, and if it does not, it is not, whatever anyone says about it.

Where the coins come from

Two launchpads, read two different ways, by one worker.

OTC's mark is revoked in the same transaction that sets it, so neither the launcher nor the desk can rewrite the split. It is not proof of origin: fee sharing is permissionless, so anyone may name the same addresses. Pump.fun's own admin key also keeps a reset instruction over every fee-sharing config, ours included.

stonk states the pairing outright, so there is nothing to detect. A stonk coin in reward mode pays holders on every transfer; one in standard mode pays its creator instead, so it sits on the desk but never pays.

One persistent worker does all the reading. It scans both launchpads, walks the collector's payouts and listens to the chain, and keeps the feed, the pairs and the pulse as snapshots the site serves from the edge, so the first paint never waits on a cold read. What happens live is pushed to the page as events: a payout run or a launch is on screen about a second after it confirms. The page asks for nothing on a timer.

Name, ticker and artwork come from Helius's asset index for OTC coins and from stonk's own records for its coins. Most stonk coins trade on Raydium's launch curve, which the index does not quote, so their prices are stonk's numbers.

What the field shows

Every coin with a market cap is a circle whose area tracks that cap, the largest in the middle, packed until the box is comfortably full. The artwork fills the circle and nothing is drawn over it.

Hold the pointer on one and a receipt names it: ticker, market cap, when it launched, its mint, which launchpad, and the stock it pays. Every coin paying the same stock lights up with it. A short press opens the coin where it trades, a drag moves it, and a press on empty water scatters the field. A launch that lands while you watch pops in with a pink ring.

The stock on the receipt is read from the payments, not from a label. OTC's collector pays a coin's holders in one run of transfers; the worker groups the runs and matches each to the coin whose holders it reached. Where no run has been seen yet the pairing is weaker, and the desk says how much weaker.

The wall at /desk carries the filters: by stock, by class, by cap, by age, and to coins that have actually paid. The filter lives in the URL, so a filtered wall is a link. The landing has no filter; it always seats the coins that pay, and the readout beside the logo is the pulse: wallets paid stock since the page opened, counted from runs out of the collector as they confirm.

Configuring your holdings

Configure your holdings spreads one amount of SOL evenly over the coins on screen, largest first: the whole desk until you filter it. Pick the amount and the basket, 5, 10, 20 coins. Every leg is quoted by Jupiter, signed in your own wallet 5 at a time, and landed by Jupiter. The site never holds funds and never signs.

A leg is skipped when there is no route or the price impact is over 20%. Sign within a minute or the batch expires and is skipped. Each leg ends in a signature you can open, or in the reason it did not happen.

The same key carries your payout preference, once a treasury address exists: a memo to the treasury, signed by the wallet that holds $OTCX, in the form the numbers print below. The choice is offered now.

The stock these coins pay needs no account from you. OTC's distributor opens it and pays the rent; stonk's does the same. What you bought sits in your wallet like any other token, and selling is yours to do; the desk does not sell.

What $OTCX is

$OTCX is the desk's own coin, launched on pump.fun. Its creator fees, every one of them, go to a treasury wallet, and the right to change that is given up when the coin is made: the same mark OTC coins carry, and you can read it on the coin's fee config.

The treasury pays those fees on to whoever holds $OTCX, in the stock the desk pays. Hold the coin, get paid by the desk.

Holding $OTCX is the whole relationship. There is nothing to deposit, nothing to claim, and nothing to press.

Where the money comes from

Everything the treasury spends passes through one wallet. One thing fills it.

On every claim the treasury pays a round, so what holders receive grows with $OTCX's own volume. Every claim and every buy is a signature on the treasury wallet, and each claim is visible on the $OTCX chart.

On mainnet the crank claims and spends only mints on an operator allowlist, under a spend cap it checks from a persisted ledger before it moves a lamport.

The stock the desk pays arrives from OTC's distributor and from stonk's, straight into the treasury, exactly as it would into any holder's wallet. That is the income. There is no other.

How a round pays

A round runs when the treasury's distributable balance clears the round floor, or after the longest wait, whichever comes first. Not on a calendar: a busy day pays many times, a quiet day still pays.

Holders who choose nothing are paid in SPYX: everything the treasury received in the round is swapped into it and pushed, one line in your wallet. Shares are by balance, time-weighted over the round's snapshots, so buying just before a round and selling just after earns a fraction of it.

To be paid differently, send the treasury a memo transaction in the form the numbers print: one or more of the stocks the desk pays, split equally across them; everything as received; or $OTCX bought back into your wallet. Configure your holdings will write it for you; your signature is the proof, and the crank reads memos before every round.

A pinned stock (SPYX, USDY) pays at its own pinned address even when the pair index has come to know that symbol as a different mint; the disagreement is only logged.

USDY is a yield note from Ondo, not a stock.

A share below the per-holder floor is not sent that round. Nothing is lost: it accrues and pays when it crosses. A stock with no route to SPYX yet is held and shown, and forwarded as it is only to holders who chose as received. A stock that charges a transfer fee or carries an armed transfer hook is refused the same way.

Held at 7 days on stats reads the wallets first paid one asset on one UTC day, at most 500 of them, once, seven full days after that day ends: how many still hold that asset in their associated account, and how many hold $OTCX. A wallet holding it somewhere else counts as not holding it, and a day with no read yet is absent rather than zero.

The numbers

Rent is measured off the smallest account that already holds the mint, not a library estimate, when the two disagree.

Excluded also drops the sharing config account itself, not only the venues it names.

The accounts

Launching on the desk

Launch a coin and it is an ordinary pump.fun coin with one thing written into it at birth: its trading fees are split by pump itself, and one share of that split buys stock for the people holding it. Seven steps, in the order they happen.

1. 1Pick the stock your coin pays its holders. You can pick up to 3.
2. 2Name your coin, give it a ticker and add a picture.
3. 3Sign one transaction in your wallet. It costs the rent pump.fun charges to open a coin.
4. 4Your coin trades on pump.fun like any other coin.
5. 5Every trade pays a fee, and pump.fun splits that fee the way your launch wrote it. Once it is written, neither you nor we can change it.
6. 6The desk turns its share of the fee into the stock you picked and sends it to everyone holding your coin.
7. 7A slice of the fee buys $OTCX, for its holders or to burn as you chose, and a slice comes back to you.

The split below is the same file the launch page prints and the same one the transaction is built from. Every figure comes from that file; none is typed here.

At launch the creator picks whether the treasury's slice pays $OTCX holders or buys and burns $OTCX; it is written into the coin's metadata and cannot change.

A coin pays up to 3 stocks, split evenly unless the launcher sets the weights. Which stocks, and in what weights, lives in the coin's own frozen metadata, so the binding is public and cannot be edited afterwards.

The distributor pays, and the desk counts a launch as its own, only when the coin's fee config names the distributor first and its metadata carries that binding; a copycat config with no binding is left an ordinary coin, so pointing a fee config at our wallet buys nothing. A coin whose own document cannot be read is held rather than paid the house stock, since that is not what it promised.

The launcher pays the rent pump.fun charges to open a coin, the network fee, a launch fee of 0.02 SOL to otcextra, plus a first buy if they make one. A coin's holder share is claimed once $5 has accrued and paid once the round clears the same floor; when a round finds nobody holding the coin, that share buys $OTCX for otcextra's fee wallet. Those figures are read from the launcher's own transaction by simulating it before they sign, never typed here.

The launch page builds the transaction; your wallet signs it.

What is not true

• This site is not OTC Desks, stonk.fun or pump.fun. It reads public chain state and public APIs and quotes public routers; it has no arrangement with any of them.
• The page does not poll for the pulse; the worker pushes it. A figure that moved on the landing moved because a transaction confirmed, not because a timer fired.
• A pairing marked distribution has been watched being paid. Declared is what stonk.fun states, and ticker is a guess from the coin's own symbol; neither is presented as proven.
• Payouts to $OTCX holders are run by a wallet under the policy printed here, not by a program. The policy is published; nothing enforces it on chain.
• The count includes every launch ever, dead ones too. A coin with no market cap has no quote anywhere, which usually means nobody trades it.
• Buying is a thin client over Jupiter and your wallet. It is new. Start small, and check the signatures it prints.
• Nothing here is advice, and no figure on this site is a promise about the next one.