How Anypair works

What Anypair is

Anypair is a platform on Raydium LaunchLab. A creator launches a coin on a constant-product bonding curve and picks its pair: the quote token the curve fills in and the graduated pool holds. The pair can be SOL, a stablecoin, JUP, BONK, a tokenized stock or a community's own token.

Anyone trades a launch with whatever is in their wallet. Paying in another token routes through Jupiter into the pair inside the same transaction as the curve trade. Every pair has its own page, and the board holds every launch.

Pairs

A pair is a LaunchLab GlobalConfig: one per quote mint, created by Raydium. Anypair offers every one of them, 0 right now. It reads every GlobalConfig once a day and, between reads, picks up each new pair from the transactions of Raydium's config authorities, so a new pair is open on Anypair as soon as Raydium creates it.

Each pair carries its mint's token program, decimals, name, symbol and logo, and a USD price where one is known. A pair whose metadata hasn't been read yet opens for launches once it has. Find a pair.

The curve

Supply

1,000,000,000 at 6 decimals

On the curve

793,100,000

Into the pool at graduation

206,900,000

Mint

Token-2022, metadata on the mint, no transfer fee; addresses end in pair

Curve

Constant product with virtual reserves

The curve sells 793,100,000 coins against virtual reserves. With supply N, S sold on the curve and R = N − S left for the pool, the virtual base is a = S² / (S − R) and the virtual quote is b = T · (a − S) / S for a target T. The price after s coins is b · a / (a − s)², so the last coin costs 14.7× the first in every pair, and the curve's end price equals the pool's opening price.

The target

The target is how much of the pair the curve raises before it sells out. SOL launches graduate at 85 SOL and USD1 launches at 12,500 USD1, LaunchLab's own defaults. In every other pair the default is the amount worth $12,500 at launch, from Jupiter's price, and the creator can set it anywhere from $5,000 to $50,000. A pair with no USD price takes a target the creator sets in the pair, at least its config's minimum.

Any token in and out

Buying in the pair calls LaunchLab's buy_exact_in. Buying with another token puts a Jupiter exact-in route from that token into the pair first, then buy_exact_in with the route's minimum output, in one transaction and one signature.

Selling calls sell_exact_in into the pair, then routes the pair into the token you picked, again in one transaction. After graduation, both directions are Jupiter routes through the coin's CPMM pool.

Every quote shows the route, each fee by party, the minimum you receive, the price impact and your slippage.

Graduation

A coin shows on the board's Graduating tab from 80% of the curve sold. When the last coin on the curve sells, the coin is sold out and migrating until Raydium's migration wallet runs migrate_to_cpswap. The raise and the remaining 206,900,000 coins then seed a Raydium CPMM pool against the same pair.

All of the pool's LP goes into a Burn & Earn Fee Key held by the protocol PDA: the liquidity stays locked, and its trading fees join the protocol's share. The CPMM creator fee keeps paying the coin's creator.

Fees

Every curve trade pays 1.25% of its pair amount, in the pair.

The creator's 0.5% is the most LaunchLab allows a creator. After graduation the pool charges its CPMM tier; its creator fee goes to the creator and the locked LP's fees to the protocol PDA. A route through Jupiter carries that route's own swap fees, shown in the quote.

For creators

Launching costs the network rent for the mint and the pool plus the network fee; the review sheet shows both before you sign, along with what the signature does. The first buy is optional and can be paid in any token.

Creator fees accrue in LaunchLab per creator and per pair. On your own profile, claim the curve fees one pair at a time or all at once (claim_creator_fee), and claim the pool creator fees of your graduated coins from CPMM.

ANYPAIR

ANYPAIR has a fixed supply of 1,000,000,000, launched 100% fair on Anypair itself in the SOL pair: no presale, no team, investor, airdrop or reserved allocation, no vesting.

The protocol's whole share, platform fees from every pair and LP fees from every Fee Key, accrues to the protocol PDA. Anyone can sweep it there (sweep_platform_fees, collect_lp_fees). It buys ANYPAIR through Jupiter and burns it. The token page shows the PDA's balances.

Programs and addresses

The platform's fee wallet and NFT wallet are the protocol PDA, fixed when the PlatformConfig is created. The program never lets anyone change them, and its only instructions touching them move funds into the protocol PDA.

FAQ

Which wallets work?

Any Wallet Standard wallet in your browser: Phantom, Solflare, Backpack and the rest. USB hardware wallets are not offered.

Can I launch in any pair?

Any pair LaunchLab holds whose metadata has been read. A new pair appears on the pairs page as soon as Raydium creates it.

What images can a coin have?

PNG, JPG, GIF, WebP. The image and the metadata are stored on IPFS through Pinata.

Who signs a launch?

Your wallet signs first; then the coin's mint key, reserved for your launch, adds its signature.

Why does a coin's address end in “pair”?

Every coin minted through Anypair gets an address ending in those four letters.

Where does Anypair's fee go?

To the protocol PDA, then into buying and burning ANYPAIR.