Version 2 — High-performance implementation of pump.fun-style bonding-curve and AMM mechanics for EVM chains. Deployable on Base, Ethereum, and other EVM-compatible networks.
- Bonding-curve engine (PumpFun) with create pool, buy, sell, owner withdraw.
- TokenFactory: deploy ERC20 + create pool in one tx; owner-only pool address.
- AMM: PancakeFactory, PancakePair, Pair, Router (add/remove liquidity, swap, referral fee).
- Security: ReentrancyGuard, CEI in sell, owner set in constructor, excess ETH refund on createPool.
- Base + Base Sepolia in Hardhat config; optimizer + viaIR.
| Area | Improvement |
|---|---|
| PumpFun | View helpers: getBuyQuote(token, tokenAmount), getSellQuote(token, tokenAmount), getTokenAmountForEth(token, ethAmount) for frontends. Getters: getOwner(), getFeeRecipient(), getFeeBasisPoint(), getMcapLimit(), isPoolComplete(token). Optional: pause / unpause for emergency halt. |
| Router | Allow referree == address(0) so swaps work without a referrer. Add deadline to swap functions to limit front-run risk. Admin: setReferralFee (and optionally owner). |
| Pair | Restrict mint, burn, swap to Router (or single core) so only the protocol can update reserves. |
| TokenFactory | getTokenCount(); transferOwnership(address) or setOwner for ownership transfer. |
| Router | getAmountsIn(token, weth, amountOut) for “how much in to get X out” quotes. |
The system has two phases per token:
- Bonding curve (PumpFun) — New tokens trade on a constant-product style curve until a threshold (mcap or sell-down) is hit.
- Graduation — Completed curves can be withdrawn by the protocol owner; liquidity can be moved to a Uniswap-style AMM (Router + Factory/Pair) for continued trading.
┌─────────────────┐ ┌───────────────────┐ ┌─────────────────┐
│ TokenFactory │────> │ PumpFun │────>│ PancakeFactory │
│ (deploy ERC20 + │ │ (bonding curve │ │ + Router + Pair │
│ create pool) │ │ buy/sell/withdraw)│ │ (AMM post-grad) │
└─────────────────┘ └───────────────────┘ └─────────────────┘
| Contract | Role |
|---|---|
| PumpFun | Bonding-curve: createPool, buy, sell, withdraw (owner). Quotes: getBuyQuote, getSellQuote, getTokenAmountForEth. Getters: getOwner, getFeeRecipient, getFeeBasisPoint, getMcapLimit, getTokenTotalSupply, getInitialVirtualReserves, isPoolComplete. Emergency: pause / unpause. |
| TokenFactory | Deploys ERC20 + createPool in one tx. Owner-only setPoolAddress. v2: getTokenCount(), transferOwnership(address). |
| Token | Standard ERC20 (OpenZeppelin); minted to creator with fixed total supply. |
| PancakeFactory | UniswapV2-style factory: createPair(tokenA, tokenB) via CREATE2, feeTo, txFee, getPair. Implements IFactory. |
| PancakePair | Minimal pair: initialize(token0, token1); holds pair state for Router. |
| Pair | Full AMM pair: mint/burn/swap restricted to core (set by factory via setCore). approval, transferETH, getReserves, kLast, core(). |
| Router | Liquidity: addLiquidityETH, removeLiquidityETH. Swaps: swapTokensForETH(..., referree, deadline), swapETHForTokens(..., referree, deadline); referree may be address(0). Quotes: getAmountsOut, getAmountsIn. Owner-only setReferralFee. |
| Factory.sol | Interface IFactory: getPair, feeTo, txFee. |
- Pricing: Constant-product over virtual reserves.
ethCost = (virtualEthReserves * virtualTokenReserves) / (virtualTokenReserves - tokenAmount) - virtualEthReserves - Reserves: Per-token curve state:
virtualTokenReserves,virtualEthReserves,realTokenReserves,realEthReserves,tokenTotalSupply,mcapLimit,complete. - Completion: Curve marks
completewhen mcap exceedsmcapLimitor real token reserve percentage falls below 20%. Only then can owner callwithdraw(token)to pull real ETH and tokens. - Fees: Create fee (flat ETH) and trading fee (basis points) sent to
feeRecipient. Excess ETH increatePoolis refunded to caller. - Security:
ReentrancyGuardon pool creation and trading; CEI insell; owner set in constructor; no external calls before state updates in critical paths. v2:pause/unpausefor emergency halt.
| Component | Version / choice |
|---|---|
| Solidity | 0.8.24 |
| Compiler | Optimizer enabled, runs: 200, viaIR: true (resolves stack-too-deep in Router) |
| Framework | Hardhat 2.x + Ignition |
| Dependencies | OpenZeppelin Contracts v5, ethers v6, TypeScript |
| Networks | Base (8453), Base Sepolia (84532); configurable via hardhat.config.ts |
- Node.js ≥ 18
- npm or yarn
npm install --legacy-peer-depsnpx hardhat compilenpx hardhat testTests cover TokenFactory deployment, PumpFun pool creation, and buy/sell on the bonding curve (see test/test.ts).
Set deployer key (never commit):
# Windows (PowerShell)
$env:PRIVATE_KEY = "0x..."
# Linux/macOS
export PRIVATE_KEY=0x...Deploy with Hardhat Ignition (example for Lock module):
# Base Mainnet
npx hardhat ignition deploy ignition/modules/Lock.ts --network base
# Base Sepolia
npx hardhat ignition deploy ignition/modules/Lock.ts --network baseSepoliaAdd and run Ignition modules for PumpFun, TokenFactory, and (optionally) PancakeFactory/Router as needed.
Configure Etherscan/BaseScan API key in hardhat.config.ts and use:
npx hardhat verify --network base <DEPLOYED_ADDRESS> <CONSTRUCTOR_ARGS>- PumpFun constructor:
feeRecipient,createFee(wei),feeBasisPoint(e.g. 100 = 1%). - TokenFactory: Owner must call
setPoolAddress(pumpFunAddress)after deployment. UsetransferOwnershipto change owner. - PancakeFactory:
feeToSetterin constructor; thensetFeeTo,setTxFee,setFeeToSetteras needed for Router compatibility. - Pair (v2): After the factory creates a pair, it must call
pair.setCore(routerAddress)once so the Router can callmint/burn/swap. Only the factory can callsetCore, and only before a core is set. - Router: Swaps require a
deadline(e.g.block.timestamp + 300). Useaddress(0)asreferreewhen no referrer.
MIT — see LICENSE.
