Terms of service

Last updated: 2026-11-04 (terms version 2026-11-04)

These terms apply when you use Pack Protocol ("Pack"): the website, the API, the keeper that routes fees and the on-chain programs that Pack Protocol publishes. By connecting a wallet or using any part of Pack, you accept these terms and the risk disclosure, which is part of them. If you do not agree, do not use Pack.

1. How Pack works

1.1 Pack works alongside launchpads (currently pump.fun and Meteora DBC): a creator launches a coin there and routes its creator fee to Pack, and Pack splits that fee into holder rewards, a creator share and a protocol share (section 3). Pack does not run a launchpad or a bonding curve, and it runs on programs, a keeper and fixed rules, with no AI agent making decisions in the money path.

1.2 You connect a wallet that you control, and every action that moves your funds is a transaction that your wallet signs. Pack never holds creator keys or your keys and never asks for your seed phrase. Launch transactions are built by the Pack API and signed by the creator's wallet, and the app shows the simulation result before you sign, so read it.

1.3 Creator fees that have reached Pack and prizes waiting to be claimed sit in vaults and wallets controlled by Pack's programs and keeper, and their addresses are public on the dashboard. Bond buyer funds are held only by the pack_bond program, never by the keeper. Blockchain transactions are final: Pack cannot reverse a transaction or recover a lost wallet, and wallet security is yours.

2. What you accept

2.1 Rewards and bond returns depend on trading volume and can be lost entirely. Fees exist only when people trade a coin, so if volume is low or stops, rewards and bond returns can be small, zero or late. You can lose the whole price of a bond, and Pack promises no reward, no return and no minimum payout.

2.2 Creators can stop activity or sell at any time. A creator can stop working on a coin, stop promoting it, sell their own coins or walk away, and neither Pack nor a bond can prevent it. Any of these can cut volume and fees.

2.3 Changes to launchpad rules during a bond are borne by users. A launchpad can change its fee rates, fee rules, token types or programs at any time, without asking Pack. Pack keeps routing whatever arrives and does not compensate, change or extend a bond because of it.

2.4 SOL/USD value fluctuates. Most amounts in Pack are in SOL or another fee asset, and their value in dollars changes all the time. The value of reward assets (tokenized stocks, cards, NFTs, tokens) changes too and can fall to zero.

2.5 Pack is an infrastructure and escrow provider, not the issuer of bonds or coins. The creator launches the coin and is the seller of any bond on its creator share, and Pack provides the routing, the escrow program and the payout rules. Pack does not issue, underwrite, back or guarantee any bond, coin or reward asset, and is not a party to the trade between a bond buyer and a creator.

2.6 You are responsible for compliance in your own jurisdiction, including eligibility for tokenized stocks. Pack has no geographic restrictions and no geo-blocking, and it does not check who you are or where you are. It is up to you to find out whether you may use Pack, buy a bond, or receive, hold or sell a reward asset, including tax and reporting duties, and some tokenized stocks and other assets may be restricted for some people. If a law that applies to you does not allow it, do not use Pack for that purpose.

2.7 Raffles use verifiable randomness and carry no guaranteed outcome. Winners are drawn with verifiable randomness (section 6). You may enter many raffles and never win, and holding more of a coin raises your chance but does not decide the result.

3. How fees are split

3.1 The protocol share is 35% (10% + 10% + 15%) whatever the creator chooses. The Treasury is team revenue and also pays keeper fees, RPC and infrastructure. Example: a creator fee of 10 SOL with a creator share of 10% pays 1.00 SOL to the creator, 5.50 SOL to the holder modules, 1.00 SOL to the Binder pot, 1.00 SOL to buyback-burn and 1.50 SOL to the Treasury.

3.2 $PACK trades on Meteora DBC with a trading fee of 1%, and 10% during the first 5 seconds after its pool opens. Meteora keeps 20% of every trading fee. Of the rest, which Pack receives, the part from the 1% base fee is split 25% to the Binder pot, 25% to buyback-burn of $PACK and 50% to the Treasury, and the part above 1% during the first 5 seconds goes to the Treasury and is shown on its own. There is no creator share and no holder modules on $PACK's own fee.

3.3 On Meteora, the launchpad keeps a fixed 20% of every trading fee before any fee reaches Pack, and Pack cannot claim that 20%. The percentages above therefore apply to the creator fee that the launchpad pays out, which on Meteora is the remaining 80% of the trading fee.

4. Creators

4.1 You set the creator share, and the modules you choose must add up to 100% of the holder slice. The holder slice must be at least 15% of the creator fee, and anything else is rejected. You are responsible for your coin, for what you say about it and for the laws that apply to you as a creator.

4.2 You may change the module configuration or the creator share after launch. A change takes effect 24 hours after you submit it and is shown publicly on the coin page during that time, and every version is kept. From the moment a Fee Bond offering is created until the bond matures or is cancelled, you cannot change the creator share or redirect the coin's fees (module changes are still allowed), and you cannot create an offering while a creator share change is pending.

4.3 Routing a coin's creator fee to Pack may be permanent or hard to undo, depending on the launchpad, and the launch screen shows the rule before you sign. On pump.fun it is permanent for the creator and for any third party (the list of recipients can be written once, and the recipient cannot be changed afterwards), but not against pump.fun itself: its own administration can take over a coin's creator authority or convert a coin to Holder Rewards, and either one ends or redirects the flow to Pack. Pack reads the coin's configuration again every cycle and pauses the coin if the setup changes.

4.4 Pack does not vet creators or coins and accepts a coin only if it meets the technical rules of its launchpad, and acceptance is not an endorsement. On pump.fun, Pack accepts only coins of the Creator Fee type that are quoted in SOL, and rejects Holder Rewards coins, coins quoted in another token, old coins whose creator key is the zero key, and mayhem-mode and cashback coins. On Meteora, Pack accepts a coin only when the creator fee is paid in the quote asset (SOL, or the pool's quote asset such as USDC), rejects a configuration that pays part of the fee in the coin itself, and reads the configuration back after a launch and refuses the coin if it does not match what Pack expects.

4.5 On either launchpad, your wallet signs the launch transaction and pays the network fees and the account rent. Pack does not refund these costs, and they differ by launchpad and settings (figures in the risk disclosure, section 3.4).

5. Holders and reward assets

5.1 A coin's holder slice is paid out through one or more modules: tokenized stocks, cards, other NFTs, any token, the coin itself, or burn. A payout runs only when a module's balance reaches its threshold (currently 0.1 SOL equivalent, or 0.5 SOL equivalent for weighted buckets), and until then the funds wait. Burn is permanent: burned coins are removed from supply with a real burn instruction and cannot be recovered.

5.2 Snapshots exclude bonding curve vaults, AMM pools, Pack's own vaults and wallets, the burn address and known launchpad program accounts, so coins held there earn nothing. Pro-rata payouts only reach holders who already have a token account for the reward asset, which you open yourself, and each payout goes to the top 2,000 holders by balance (current setting). A share that nobody can receive (no token account, outside the top 2,000 or no eligible holder) rolls into the next payout and is split among the holders who are eligible then.

5.3 Before Pack buys a reward asset, the asset must pass an asset audit: it is transferable, it has no Token-2022 transfer fee and no transfer hook, it has real liquidity (price impact of 2% or less at the payout size, current setting), and Pack's own wallet and token account are not frozen. An asset that fails is skipped for that payout: in rotation mode Pack moves to the next asset, in weighted mode it re-weights the rest, and if every asset in a module fails, Pack holds the funds and raises an alert. Passing the audit is not an endorsement of the asset.

5.4 Cards are issued by a third party (currently Collector Crypt), who can freeze, move or burn any card, including a card in Pack's prize vault, without Pack's signature. Pack buys card packs through the issuer's public web interface, there is no on-chain pack program, and a won card reaches the prize vault only if the issuer's servers deliver it. If a won card cannot be transferred to the winner, Pack redraws the raffle and the winner has no claim on that card, and Pack may disable the card module; a card can be exchanged for the physical card only by the holder burning it with the issuer, and Pack does not offer redemption.

5.5 Tokenized stocks (xStocks and similar) are issued by a third party, who can move tokens out of any holder's account (a permanent delegate), pause all transfers, freeze accounts and halt trading of a single asset, and can switch on a transfer hook later. Pack checks for an active transfer hook or a transfer fee before it buys and again at payout, and skips an asset that fails, but it cannot stop the issuer from acting between two checks. Pack buys only from a short allow-list (on the order of tens of assets) of assets that pass its checks and have enough liquidity, an asset can be removed from it, and balances can be displayed scaled by an issuer multiplier.

6. Raffles

6.1 Cards and other NFTs are given out by raffle, and your chance is weighted by your holdings. By default each raffle uses the ORAO VRF service, a verifiable random function run by a third party: the random value is the combination (XOR) of the signatures that ORAO's three authorities make over a seed that Pack derives from the holder snapshot hash that it publishes, and all three must answer for a request to complete. For every raffle, Pack publishes on the coin page the ORAO request (the transaction signature and the request account), the randomness proof (the three authority signatures and the XOR check) and the snapshot hash.

6.2 Winners claim prizes themselves: the prize stays in the prize vault until you claim it from the coin page, Pack's API builds the claim transaction and the keeper signs it as prize vault authority, and you sign it and pay the network fee and any account rent. A prize not claimed after 30 days (current setting) goes back into the next raffle of the same coin, and after that you cannot claim it. If a prize cannot be transferred to the winner at all, Pack redraws the raffle.

6.3 ORAO is a third party and Pack does not control it. The upgrade key of the ORAO program is held by one keypair that belongs to the ORAO operator, and it is not a multisig, so whoever holds that key can replace the program; on chain, that same key is also ORAO's fee treasury and one of the three authorities. A raffle is only as fair as ORAO's control of these keys (risk disclosure, section 2.2).

6.4 Pack checks the ORAO program's last deploy and its upgrade authority every day, and if either changes it pauses raffles automatically. While raffles are paused, prizes and funds stay in the prize vault, and raffles resume only after Pack has reviewed the change. A request costs Pack a small fee that ORAO does not refund and that you do not pay, and if ORAO does not answer, the raffle is delayed, Pack waits up to 120 seconds (current setting) before it sends a new request and it may pause the raffle.

6.5 Pack keeps a commit-reveal scheme as an emergency fallback and switches to it only through a deliberate, logged change, never automatically. Pack first publishes a commitment to the snapshot, and the random value is taken from the hash of a block produced after that time. A raffle drawn this way is labelled "commit-reveal" on the coin page and is weaker than ORAO (risk disclosure, section 2.4).

7. Fee Bond

7.1 Fee Bond lets a creator sell their creator share of fees for a fixed period and receive the money up front, and buyers receive the actual fees routed to the bond, pro rata to the units they hold. A bond has no fixed return: buyers gain if routed fees exceed the price, and lose part or all of it if they fall short (numbers in the risk disclosure, section 4.1). Pack does not underwrite, back or guarantee what a bond pays.

7.2 Buyer funds go to an on-chain escrow held by the pack_bond program. If the sale ends below the creator's minimum sold percentage, the offering is cancelled and every buyer can refund 100% of the price (network fees are not refunded); at or above the minimum, the proceeds minus the issuance fee go to the creator, units are issued and the bond period starts. A bond sells only the creator share, or a portion of it (1% to 100%), and holder modules and the protocol share are never sold.

7.3 A bond lasts 1 day to 30 days (default 7 days), the minimum sold is at least 25%, the sale window defaults to 24 hours (range 1 hour to 72 hours), and a coin can have one active bond at a time. The program enforces size caps of 10 SOL per offering and 100 SOL total outstanding across Pack, and Pack raises them only after an external audit. A bond is priced in the coin's fee asset, bonds in assets other than SOL are not available until Pack sets a size cap for that asset, and positions are non-transferable in the first release (Pack may add transferable units later and promises nothing about that).

7.4 The creator pays an issuance fee of 2.5% of the amount raised, at close, and buyers do not pay it. The fee is 50% lower (1.25%) when paid in $PACK and that $PACK is burned, and the fee goes to the protocol share in the proportion 10 : 10 : 15 (Binder pot : buyback-burn : Treasury). The $PACK discount can silently not apply: if $PACK is not live or its price feed is stale (older than 900 seconds, current setting) when the sale closes, the full fee is charged in SOL.

7.5 The pack_bond program has not been externally audited, and AI review is not an audit. Pack's process includes tests, fuzzing and independent reviews, which reduce risk but do not replace an audit, and Pack intends to commission an external audit once bond volume justifies it, with no date promised.

7.6 A bond relies on two inputs that come from outside the program: the keeper's record of the coin (creator, launchpad, fee asset and creator share) and the $PACK price feed. The keeper also deposits the yield, which is whatever the launchpad pays out. If an input is wrong or the keeper is down, what a bond pays can be wrong or late (risk disclosure, section 4.8).

8. $PACK and the Binder

8.1 $PACK is the Pack token, launched on Meteora DBC through Pack, and other tokens use the same $PACK ticker. The official contract address is shown on the pack.fund home page and posted on @packprotocol (opens in a new tab), so check it there before you buy. $PACK is used to mint the Binder (when it exists), to be bought back and burned with 10% of every coin's creator fee and 25% of the base-fee part Pack receives on $PACK's own trading fee, and to discount the Fee Bond issuance fee; this describes how the token is used and is not a promise of value.

8.2 $PACK has no governance: holding it gives you no vote and no claim on Pack's revenue, Treasury or assets, and Pack makes no promise of returns. The price can fall to zero. If the creator wallet makes a dev buy of $PACK, Pack discloses the amount and the wallet publicly.

8.3 Buyback-burn is automatic but a circuit breaker can stop it, and resuming it needs a manual decision. Pack does not promise any burn amount or any effect on price.

8.4 The Binder is not live and is planned for a later phase. Pack sets aside 10% of each coin's creator fee for a Binder pot, which builds up in a wallet listed on the dashboard. Pack promises nothing about the Binder (whether or when it launches, its price, supply, rules or payouts), and nothing on Pack is an offer to sell you one.

8.5 If the Binder is never launched, 100% of the Binder pot is used to buy back and burn $PACK. Nothing is promised about any other feature marked as coming later, including transferable bond units, third-party reward modules and a Pack launchpad.

9. Third parties, your own risk and contact

9.1 Pack depends on third parties: launchpads, swap routers, marketplaces, price sources, RPC providers, randomness providers, Jito bundles and wallets. They can fail, change or disappear, and Pack is not responsible for them. Pack buys reward assets at market prices and sets slippage and price-impact limits, but a swap can fill worse than quoted, a bundled transaction can fail to land and a public RPC provider can rate-limit Pack, so Pack may delay or skip a payout, a buyback or a burn.

9.2 Pack may pause or disable a feature, a coin or a launchpad, for example when a circuit breaker trips or a launchpad changes. Funds stay where they are while a unit is paused, resuming is not automatic, and when Pack pauses new bond purchases, refunds and claims are designed to keep working.

9.3 Software "as is". Pack is provided "as is" and "as available", without warranties of any kind, express or implied, including any warranty of merchantability, fitness for a particular purpose, title, non-infringement, accuracy, availability, or that Pack is free of errors, bugs or security flaws. Use it at your own risk.

9.4 What Pack is, and what it is not. Pack is an interface and open code that work with public blockchains. Pack is not an exchange, a broker, a dealer, an investment adviser, a custodian of your assets, or the issuer of any coin, bond or reward asset. It never holds your keys or the funds in your wallet, it does not trade on your behalf as your agent, and it is not a party to any trade between you and another user. Creator fees routed to Pack and prizes waiting to be claimed sit in public wallets and programs that follow the published rules (section 1.3).

9.5 You carry the risk, and no reward is guaranteed. You use Pack entirely at your own risk. Rewards, prizes, bond returns and burns depend on trading volume, markets and third parties, and can be small, late or zero. Pack promises no reward, no return and no minimum payout.

9.6 No advice and no offer. Nothing on Pack is financial, investment, legal or tax advice, or an offer or solicitation to buy or sell any asset, security or investment. $PACK gives no right to revenue, profit, dividends, ownership or votes, and no claim on Pack, its Treasury or its assets.

9.7 Limitation of liability. To the fullest extent the law allows, Pack, its contributors and its operators are not liable for any direct, indirect, incidental, special, consequential, exemplary or punitive damages, or for any loss of profits, revenue, data, tokens or funds, that arise from or relate to your use of Pack or your inability to use it, however caused and on any theory of liability, even if they were told such damage was possible. Where a law does not allow liability to be excluded, their total liability for all claims together is limited to the lowest amount that law permits.

9.8 Indemnity. You will indemnify and hold harmless Pack, its contributors and its operators against every claim, demand, loss, damage, cost and expense (including reasonable legal fees) that arises from your use of Pack, your breach of these terms, or your breach of any law or of anyone else's rights.

9.9 Your laws, taxes and eligibility. You alone are responsible for the laws, taxes, reporting duties and eligibility rules that apply to you where you live or act (section 2.6).

9.10 Creators and third parties. Pack is not responsible for what a creator does or fails to do (launching, promoting, selling, abandoning or describing a coin or a bond), nor for any third-party service Pack depends on (section 9.1).

9.11 Changes, pauses and shutdown. Pack may change, pause, limit or stop the website, the API or any feature, coin or launchpad at any time, with or without notice. Funds held by Pack's on-chain programs keep following the published rules of those programs.

9.12 Changes to these terms. Pack may update these terms and the risk disclosure. The new version is posted on this page with a new "Last updated" date and terms version, and the website asks you to agree again before you go on.

9.13 Contact. X: @packprotocol (opens in a new tab), the only official Pack account on X. Pack will never send you a private message first. Security reports go through the policy on the /security page.