$ML Tokenomics
The instrument, broken down to the last decimal.
Project facts
| Chain | Solana |
| Launch venue | pump.fun bonding curve (fair launch) |
| AMM LP venue | Meteora AMM (project-funded, paired with personal SOL) |
| Concentrated liquidity venue | Meteora DLMM |
| Ticker | $ML |
| Total supply | 1,000,000,000 |
| Contract | TBA at launch |
Where the supply goes
| % | Allocation | Mechanic |
|---|---|---|
| 25% | Bought at launch with personal SOL | Distributed across LPs immediately (see below) |
| 75% | Free float | Whoever buys from the curve |
The 25% bought at launch is distributed by the dev wallet shortly after purchase, before bond:
| % | Sub-allocation | Path |
|---|---|---|
| 20% | Locked LP, paired with personal SOL | Dev wallet → Meteora AMM |
| 5% | Concentrated liquidity reserve | Dev wallet → DLMM wallet, then split into two roles below |
| — 3.5% | Active DLMM position | DLMM wallet → Meteora DLMM, ranged spot to $10M market cap |
| — 1.5% | DLMM range extension reserve | Held in DLMM wallet, deployed above $10M as the chart outgrows the initial range |
No pre-mint. No pre-sale. No investor round. No team bag outside the allocations above — all of which exist for liquidity, burns, or active range management.
The launch sequence
From the dev wallet:
- ●20% moves into a Meteora AMM (paired with additional personal SOL).
- ●5% is transferred to a separate, publicly-labeled DLMM wallet.
All three steps happen in immediate succession after the launch buy. Both the Meteora AMM and the DLMM are live and earning fees from day one.
All SOL used in the launch sequence (the 25% buy, the Meteora pair) is personally funded by the project principal. No outside capital. No raise.
How the Meteora AMM works
- ●Fees accrue in the LP position
- ●Fees are claimed and redeposited into the pool, applying the lopsided pairing rule (see below)
- ●The principal is locked permanently. Operator cannot pull this LP under any circumstance.
Fee split — AMM & creator rewards
| Recipient | SOL side | $ML side |
|---|---|---|
| Max (operator) | 10% | 0% |
| Treasury | 10% | 10% |
| Pool (compounded back) | 80% | 90% |
How the 3.5% DLMM works
- ●Venue: Meteora DLMM
- ●Initial range: spot to $10M market cap
- ●Deployed at launch with $ML only (no SOL)
- ●SOL accumulates inside the position as traders buy through the range
- ●SOL lower bound is repositioned daily to trail current spot by 75%
- ●Repositioning is performed manually from the DLMM wallet
Fee handling
| Side | Treatment |
|---|---|
| $ML fees | 10% to Treasury, 90% burned |
| SOL fees | 10% to Max, 10% to Treasury, 80% reserved for buyback |
Buyback-and-burn rule
- ●Trigger: 1 SOL accumulated in the DLMM wallet (post fee splits)
- ●Action: DLMM wallet buys $ML on the open market with the accumulated SOL and burns the full amount.
- ●No discretion, no timing strategy, no $ML ever held in the DLMM wallet
How the 1.5% Reserve deploys
The 3.5% DLMM covers the range from spot to $10M market cap. Once the chart approaches or breaks through $10M, additional supply is deployed above using the 1.5% reserve.
Deployment rules
- ●No deploys from the 1.5% occur below $10M market cap
- ●Above $10M, deploys are sized to chart conditions:
- ●Strong volume and price action → larger deploy
- ●Weak conditions → smaller or no deploy
- ●Each deploy is announced on X when it happens
- ●All deploys originate on-chain from the DLMM wallet
- ●Each deploy is a fraction of the remaining reserve, never a fixed amount, ensuring the reserve never fully depletes
The SOL trailing rule (75% below spot) applies to all DLMM positions, including extended ranges.
Operator compensation (Max's take)
| Source | Cut |
|---|---|
| Meteora AMM fees | 10% of SOL |
| pump.fun creator rewards | 10% of SOL |
| Meteora DLMM fees | 10% of SOL |
| All $ML-side fees | 0% (none) |
- ●Flat rate across every venue
- ●SOL only, no $ML
- ●Sent to Max's fee wallet (address below) as part of every fee claim
- ●No additional compensation, no token allocation, no vesting
Treasury (project war chest)
| Source | Cut |
|---|---|
| Meteora AMM fees | 10% of SOL + 10% of $ML |
| pump.fun creator rewards | 10% of SOL + 10% of $ML |
| Meteora DLMM fees | 10% of SOL + 10% of $ML |
The Treasury wallet is used exclusively for project purposes:
- ●CEX listings
- ●Artwork, design, and content production
- ●Partnerships and integrations
- ●Giveaways and community incentives
- ●Compensating community contributors
Every Treasury spend is announced. Every movement is on-chain.
The lopsided rule and rebalancing
Fees come in lopsided. AMMs need equal parts SOL and $ML for every LP add. Fee claims rarely return a balanced ratio — sometimes there's more $ML, sometimes there's more SOL, depending on where price sat during the claim window.
Process
- 01Claim fees (some $ML, some SOL)
- 02Route Max's cut and Treasury's cut out of the wallet
- 03Pair as much as the current spot ratio allows
- 04Deposit the paired amount back into the locked PumpSwap AMM
- 05If the surplus is $ML, hold it in the dev wallet until the next claim brings enough SOL to pair it
- 06If the surplus is SOL, the dev wallet rebalances by buying $ML on the open market with the excess SOL, producing a balanced pair to deposit as LP
Nothing gets "held" in any real sense. Every token in the dev wallet is either pairing right now, waiting for its counterpart, or about to be rebalanced.
This rule applies only to AMM and creator reward fees. DLMM fees follow their own structure (above).
All the wallets
Public. Labeled. Visible from launch.
Dev / AMM wallet
Purchases the 25% at launch, sets up Meteora AMM with 20%, sends 5% to DLMM wallet, manages all AMM fee claims and compounding.
DLMM wallet
Holds the 5% reserved for concentrated liquidity (3.5% active + 1.5% reserve), executes all DLMM deploys, repositions, and buyback-and-burn transactions.
Treasury wallet
Receives 10% of all fees ($ML and SOL), used solely for project growth.
Max's fee wallet
Receives 10% of SOL fees only. Operator compensation.
Fee summary
| Venue | $ML fees | SOL fees |
|---|---|---|
| Meteora AMM | 10% Treasury, 90% pool | 10% Max, 10% Treasury, 80% pool |
| pump.fun creator rewards | 10% Treasury, 90% pool | 10% Max, 10% Treasury, 80% pool |
| Meteora DLMM | 10% Treasury, 90% burned | 10% Max, 10% Treasury, 80% buyback |
What this is not
- ●Not a presale
- ●Not a private round
- ●Not a vesting schedule
- ●Not a percentage allocated to "team" or "advisors"
- ●Not subject to discretionary token unlocks
The full mechanic is published, the wallets are labeled, and every action happens on-chain.
For the operational narrative, seeThe Liquidity.