How Flock works, end to end.

Flock is a basket launchpad for bonded Pump.fun coins on Solana. Instead of buying ten coins by hand, you buy one flock and get a slice of all of them in a single transaction. Anyone can build a flock, and anyone can buy into one that is already taking off.

The price of a flock tracks the real coins inside it, live. When the coins move, the flock moves. Because the coins really sit in the flock’s Nest, your share is always redeemable for its slice of the real holdings, not an IOU.

Every flock is three things: a set of coins, a weight for each coin, and a Nest that holds them.

The flock’s price (sometimes called NAV) is just the value of everything in the Nest divided by the number of shares outstanding. Buy in and the Nest grows in step with the shares you are minted, so existing holders are never diluted.

Not every Pump.fun coin can join a flock. A coin is eligible only if all of the following hold. These rules keep flocks tradeable and keep pricing honest.

Pricing comes from the deepest SOL pool a coin trades in. If a coin fails eligibility at build time, it cannot be added to a flock. If it drifts out of eligibility later, the holdings table flags it.

A buy happens in clear stages, and you always see exactly what you get before you confirm. The quote you see is frozen for 30 seconds so the number does not move under you.

The amount that actually buys coins, shown as invested in the quote, is your SOL minus the fees and the gas reserve. You always send a little more than ends up invested, and the breakdown is never hidden.

Selling mirrors buying. You can sell any time, even if a flock has been closed by its builder, because 1:1 backing is the entire point.

Your payout is the value of your slice minus fees. You are selling the real coins behind your share, so what you get back reflects exactly what those coins are worth at that moment.

There are three things taken out of a trade. All of them are shown in the quote before you confirm.

Fees always round up and minted shares always round down by a tiny amount, so the Nest can never end up owing more than it holds. The numbers you see in a quote are the numbers you pay.

The Nest is the address that holds a flock’s real coins. One flock, one Nest. Every share you hold is a proportional claim on the coins sitting in that Nest. There are no synthetic positions and no lending against the holdings.

In v1, Flock is custodial. The Nest’s key is encrypted at rest with AES-256-GCM, and the master key lives in a hardware-backed key service (AWS KMS). Only the isolated execution service can decrypt it in memory to sign a swap, and every signature is logged. You are trusting the operator to run this honestly, which is why the holdings are kept verifiable on-chain and reconciled on a schedule.

The core invariant is simple: the total shares outstanding always correspond to the real coins in the Nest. A future v2 moves this on-chain so the backing is enforced by a program and the share becomes a real SPL token, removing the custodial trust entirely.

A builder sets each coin’s target weight when the flock is created. After launch, those weights drift as prices move. Winners grow their share of the flock and losers shrink. This drift is expected and is shown in the holdings table as the gap between the target weight and the live weight.

By default a flock is static: the Nest is left alone after launch and the basket is simply allowed to ride. Fresh buys always purchase at the target weights, which gently nudges a drifted flock back toward its targets over time. A future opt-in periodic mode lets a builder have the flock corrected back toward target weights only when drift gets large, so it does not churn on every small move.

$FLOCK is the protocol token, and it is tied directly to flocks doing well. On any profitable exit, 5% of the realized gain is used to buy $FLOCK on the open market. Losses and breakeven sells contribute nothing, so the buy pressure is funded purely from upside and never from anyone’s principal.

This ships after flocks are trading with real funds. Until then, treat it as planned, not live.

Flock is a TypeScript monorepo. The pieces are split so the part that can move funds is small, isolated, and the only thing that can touch a Nest key.

Swaps route through Jupiter. Solana reads, writes, and webhooks go through Helius. Nest keys are wrapped by AWS KMS. The economic constants (the 0.3% fee, the 2 to 15 coin range, the $10k liquidity floor, the 30 second quote window, and the rest) live in one config package and are never inlined anywhere.