Fair Blocks
Your order settles alongside everyone else's at one price, so nobody can trade ahead of you.
On an ordinary curve, trades go through one at a time in whatever order they happen to land. That lets a bot buy just before you and sell just after.
Fair Blocks take the order out of it. Orders gather for a couple of seconds, then all settle together at one price.
Step by step
- You place an order. Buy or sell. If no block is open, your order starts one. The program holds your SOL or coins.
- The block stays open for about 2 seconds from its first order. Anyone else who orders in that window joins in.
- Instant trades pause. While a block has orders in it, nobody can trade that coin instantly, from funklaunch or anywhere else. The program enforces it.
- Everyone settles at one price. Buys and sells are matched against each other, and only what's left over trades on the curve. Every buyer and seller in the block gets the same price.
- You get paid. Coins or SOL arrive in your wallet automatically, a moment after the block settles.
While your order is in a block, the trade panel says "Settling…", then shows you what you got.
- Youbuy 1 SOL
Your order opens a Fair Block. Your SOL is held by the program.
Why bother?
- Nobody can jump you. There's no gap between your order and the settle for anyone to trade in, so there's nothing to race for.
- Matched trades don't move the price. A buy and a sell in the same block simply trade with each other.
- Sell as much as you want. A Fair Block sell has no one-fifth limit and no wait, and it costs 1.5% instead of 10%.
The fair start
The first 60 seconds of every coin are one Fair Block. Every buy in it, the creator's included, gets the same price when the minute is up.
- No snipers, no bundles. Instant trading is off during the start, so there's no first block to win.
- Each wallet can put in up to 2% of the $5k opening market cap, about $100.
- No need to rush. Buying in the last second gets you the same price as buying in the first.
Fair Block or Instant?
| Fair Block | Instant | |
|---|---|---|
| When it fills | in about 2 seconds | right away |
| Price | the same for everyone in the block | just yours |
| Buys fill from | matching sells, then the curve | the Exit Queue, then the curve |
| Sells | 1.5%, no limit | 10%, a fifth of your position at a time |
Fair Block is selected by default.
Fees
1.5% whether you buy or sell: 0.6% to holders, 0.5% to the creator and 0.4% to funklaunch. More in Fees for traders.
Worth knowing
- Tiny orders can't start a block. Starting one takes about $2.80. Smaller orders can join a block that's already open, or trade instantly.
- One order per wallet per block. You can add to it on the same side. Your next order waits until the last one has paid out, a few seconds later.
- Block orders have no price limit. Nobody outside the block can move the price before it settles, but large orders inside the same block do shift the one price everyone gets.
- Close to graduation, a block that would fill the curve stops right at the end, and buyers get back whatever wasn't used.
- Sells pay out in the pair token. On SOL pairs, that means wrapped SOL.
After graduation
Fair Blocks only run on the curve. Once a coin graduates it trades in its WAMM pool, where there's no 10% instant fee to dodge.