How every coin runs.

The starter picks one fee tier when the coin starts. It is locked for the life of the coin. Every coin gets its own Raydium LaunchLab platform config, owned by the coin's pot, so its fees are its own on chain and never mix with another coin's.

The envelope's part arrives two ways: the coin's 0.5% LaunchLab creator fee (the pot is the creator), and the platform fee above Vibe Shift's share. The pot claims both itself and forwards Vibe Shift's share to the treasury in the same transaction. The starter gets no cut of the fees.

Every 10 minutes the pot claims the fees waiting for it, once at least 0.01 SOL has built up (a claim costs a network fee). What it keeps after Vibe Shift's share goes into the envelope. When the envelope holds its full size, it bursts. Anything over the size carries into the next envelope.

Envelopes fill with trading volume. A quiet coin can take a long time to fill one, and nothing guarantees that any envelope fills.

A cat waves harder the longer its wallet holds: its wave climbs evenly from 1x to 3x over 7 days. Its weight in a draw is the smaller of what the wallet holds now and what it held at the last count, times its wave.

Selling below the counted amount knocks the cat over: its wave goes back to 1x and climbs again from there. Buying more never resets it. Tokens held in a starter lock count as held.

Nobody, Vibe Shift included, can pick who catches. Each burst runs in three public steps.

1. Sealed. When the envelope is full, every waving cat and its weight is written down as a snapshot (up to the 1,000 heaviest), and the sha256 of that snapshot is published along with a draw slot that has not been produced yet.
2. Drawn. The hash of the first finalized block at or after the draw slot is combined with the snapshot hash, and the sha256 of the two is the seed. The seed draws one catcher per share by weight (a wallet catches at most once). If there are fewer waving cats than shares, every cat catches.
3. Split. The same seed splits the envelope at random, WeChat style: each share falls between 0.01x and 2x the average of what is still left, and the last share takes the rest. The biggest share wears the best luck badge (手气最佳).

The snapshot, the block and the seed are on the coin page, and the draw code is public, so anyone can rerun a burst and get the same catchers and the same shares. If an envelope is full while no cat is waving, it waits for the first one.

The starter picks what every envelope pays in. It is locked at start.

• $MIHAO. Every envelope buys $MIHAO, the ni hao cat, and sends it to the catchers.
• H shares. Every envelope buys the H share you pick (or whichever leads the Vibe Shift Index at the burst) and sends it to the catchers.
• Both. Half of every envelope in $MIHAO, half in the H share you pick.

At a burst the pot buys the pay coin with one Jupiter swap per asset and sends each catcher their part. $MIHAO is the ni hao cat, 4CxjZyMNoF1p6eXHXHv1TWpS2X47CuUmLwtGe18spump. If a catcher has no token account for the pay coin yet, its rent comes out of their own share; a part too small to cover that is paid in SOL.

The Vibe Shift Index tracks tokenized H shares on Solana (mainland Chinese companies listed in Hong Kong): Tencent 0700.HK, Alibaba 9988.HK, Meituan 3690.HK, JD.com 9618.HK, Baidu 9888.HK, NetEase 9999.HK, Bilibili 9626.HK, Trip.com 9961.HK, Li Auto 2015.HK, NIO 9866.HK. A shares (Shanghai and Shenzhen) join the moment one is tokenized on Solana; none is yet. The starter picks one stock for the coin, or the index leader. A stock token is payable only when Jupiter quotes a clean route for it (price impact under 3% on a 0.5 SOL buy). At each burst the envelope buys the picked company's token with the cleanest route, or, for the index leader, the payable token that moved most in the last 24 hours. If none is payable, or the swap fails, that part is paid in SOL instead. Most tokens track the company's US listing; the index page shows which line each one follows.

Stock tokens are third party tokens. Their issuers (Backpack, xStocks, Ondo) can pause, freeze, move or burn them from any wallet, and they are not the shares themselves. Holding one is not the same as owning the stock, and their prices move like the stocks do.

A starter pays 0.1 SOL to the coin's own pot address, which covers the pool and mint rent. Then they pick one of two ways to start.

Boarding. 20 seats at one seat price, set by the starter from 0.01 to 0.5 SOL. A seat costs the seat price plus 0.0025 SOL for the token account and delivery. One seat per wallet. The moment all 20 seats are taken by unlinked wallets, one transaction creates the coin and buys with the whole pot, so every passenger pays the same price and gets the same bag. Two wallets are linked if one funded the other or both were funded by the same wallet (busy hubs such as exchanges excepted); a wallet linked to anyone already seated is refunded and the seat stays open.

Instant. The coin goes live as soon as the start fee lands, with the starter's opening buy (up to 0.5 SOL) in the same transaction. Everyone else buys on the curve after.

A start can also be scheduled 15 minutes to 48 hours ahead. The mint address stays on the server until the coin is created, and the pool does not exist before the transaction that buys, so there is no block for a sniper to get in front of. Every coin uses the same LaunchLab curve: 1,000,000,000 supply, 793,100,000 on the curve, no mint or freeze authority, bonding to a Raydium CPMM pool at 85 SOL raised. A pot never takes more than 10 SOL.

A starter can choose to lock their own tokens. They stay in the coin's pot until the coin bonds, then go to the starter in one transfer, and the coin page shows a starter lock badge with the release transaction.

Locked tokens still count as held, so the starter's cat keeps waving on them. The lock is optional and cannot be undone once the coin starts.

From the moment a coin's start fee lands until 72 hours after it launches, its ticker, its name (ignoring case, spaces and symbols) and its launch tweet are locked on Vibe Shift. Tickers that only look alike (P3PE and PEPE) are allowed but flagged on the coin page. This covers Vibe Shift only; nobody can stop a copy on another launchpad.

• A boarding that has not filled every seat within 24 hours is cancelled, and every wallet gets back everything it sent.
• A payment that cannot take a seat (full, under the seat price, already seated, or linked) is sent back straight away.
• Anything over the seat price, and anything sent before a scheduled boarding opens, comes back when the coin is created.
• SOL sent to a coin that has already launched is sent back.
• If the coin cannot be created after three tries, every deposit is refunded.

It does not make a coin go up. Anyone, the starter included, can sell at any time, and a price can go to zero. Envelopes grow with volume and no amount is promised; catching one is a random draw. Stock tokens carry their issuers' risks. The wallet trace catches simple sybils, not determined ones.