How S&P·INDEX works.
Contracts, flows, and the honest limits behind the token, the treasury, and the claim pool.
People trade S&P·INDEX
The token trades on pump.fun. Every trade accrues creator fees to the treasury wallet.
Fees are claimed each cycle
A single worker claims accrued creator fees to the vault wallet and records the signature.
The treasury buys the basket
85% of spendable SOL is split by capped index weights and swapped into the 18 constituents. Solana-native via Jupiter, other chains via relay.
Holders are paid, every cycle
15% of spendable SOL goes straight to holders as SOL. Of every token the treasury buys with the rest, part is sent to holders in-kind and the rest stays as permanent backing.
Fees in SOL, a vault that never sells.
| Point | S&P·INDEX |
|---|---|
| Fee asset | Native SOL fees, no token sold |
| Treasury | One-way accumulation, never sold |
| Holder payout | ~40.5% of fees back to holders, as real tokens + SOL |
| Cross-chain | Only Solana ever signs; assets are received, not sent |
~40.5% of every fee comes back to you.
Every cycle, creator fees are split two ways: 15% is paid straight to holders as SOL, and the other 85% buys the index. Of every token that 85% buys, 30% is distributed to holders in-kind and 70% is kept as treasury backing. Add it up and holders receive 15% + (85% × 30%) ≈ 40.5% of every fee, cycle after cycle — the remaining ~59.5% builds a permanent, growing backing reserve that is never sold.
15% as SOL + 25.5% as real basket tokens
Bought and held permanently, never sold.
Where each token pays out
| Lane | How you're paid |
|---|---|
| Solana-held | In-kind, straight to your connected wallet — no address setup needed. |
| Native EVM / Tron | In-kind, to the EVM or Tron address you save on your Profile. |
| SOL-settled | Paid as SOL instead of the token itself (see FAQ below). |
Pull claims, not pushed payouts
Nothing is auto-sent. Your SOL and in-kind shares accrue every cycle and sit there until you claim them from your profile — whenever you want, at no rush. Each chain has its own $1 minimum: below that, the network fee to send it would cost more than the payout is worth, so it simply keeps accruing until it clears the bar.
Why some tokens pay out as SOL
ENA, SKY, ONDO, and CRV live on Ethereum mainnet, where one ERC-20 transfer costs $2–6 in gas — often more than a small holder's share. So the treasury never buys that slice for distribution in the first place: it pays the same value as SOL instead, no wasteful bridge round-trip.
You can never be paid twice
Every accrual only ever moves forward — accrued, then reserved for a specific payout, then sent — and it never moves backward once it has recorded a transaction on-chain, even if something crashes right after. Only a payout that never actually broadcast anything is ever freed back up; a payout that did send is checked against the chain itself before it is ever marked complete, and is never re-paid.
Eligibility: hold at least 1,000,000 S&P·INDEX at the cycle snapshot. The liquidity pool / bonding curve, the vault, and the claim wallet never receive a share — see the FAQ below for exactly how they're excluded.
The index we track
S&P·INDEX mirrors a broad, revenue-weighted basket of large crypto assets, an unofficial analogue to the S&P / Pantera Digital Asset Index. Constituents are weighted by adjusted market cap with a 35% cap on the largest and 20% on every other, recomputed each cycle before buying. The full published list has not been disclosed, so ours is a best-effort estimate; see the treasury for the live basket and weights.
Basket & addresses
Token rows link to the asset's contract. Native coins link to the treasury address that holds them. Wrapped rows are bought as a verified Solana-wrapped SPL (via Jupiter) instead of bridged — cheaper, held at the vault; see the FAQ for the trade-off.
The S&P·INDEX mint
This is the one and only token. Verify the mint address before buying, anything else is not S&P·INDEX.
Every wallet, on-chain
The vault buys and holds the basket; the claim wallet pays holder distributions; one receive address collects every non-Solana asset (the same address across all EVM chains, plus its Tron form). Open any of them to check the balances live.
| Wallet | Address |
|---|---|
| Vault · buys the basket, holds SOL / JUP / RAY | BbFbPa…D3YNtN ↗ |
| Claim wallet · pays holder distributions | D5dL4t…sSS9Pn ↗ |
| Receive · holds every EVM asset (ETH, BNB, AAVE…) | 0x0F80…2537D4 ↗ |
| Receive · holds TRX on Tron | TBPAzB…tUf6Ya ↗ |
Where do my distributions arrive?
Nowhere automatically. Your SOL and in-kind token shares accrue every cycle; you pull each of them to your wallet from the Profile page whenever you want. SOL is paid from the claim wallet, in-kind tokens from the treasury's holding addresses — never from anywhere else.
How much do I need to hold to earn?
At least 1,000,000 S&P·INDEX at the cycle snapshot. Below that you don't accrue for that cycle. Dust wallets are excluded because the transaction fee to pay them would exceed the payout.
Is the split weighted by how much I hold?
Yes. Each cycle's holder pool — SOL and in-kind alike — is divided pro-rata by balance among eligible wallets: the more you hold above the threshold, the larger your share.
Does the liquidity pool earn fees too?
No. The liquidity pool / bonding curve — and the protocol's own vault and claim wallets — are excluded from every distribution. The vault and claim wallets are excluded automatically; the top 1 remaining holder (normally the pool) is dropped too, so the pool's balance never dilutes or captures a share.
Why do some tokens pay out as SOL instead of the token itself?
ENA, SKY, ONDO, and CRV live on Ethereum mainnet, where a single ERC-20 transfer costs $2–6 in gas — more than a small holder's share is worth. Rather than eat that cost (or skip the payout), the treasury never buys that slice of them for distribution: it pays the equivalent value as SOL instead, sourced from the same pool as the 15% dividend. No wasteful bridge round-trip, no holder stuck with an unmovable balance.
Why is ETH held wrapped on Solana instead of bridged?
Bridging small amounts to Ethereum loses 7–47% to gas. So ETH is bought as Wormhole “Ether (Portal)” on Solana — a verified, deep-liquidity market — at ~0% cost, and held at the vault. It tracks ETH's price but carries Wormhole bridge risk. Only a hand-verified canonical mint is ever used — never a ticker match, because a verified, liquid memecoin can share a symbol.
Why are some tokens held on Arbitrum, not Ethereum?
Same reason — fees. Buying a small amount of an ERC-20 on Ethereum mainnet loses ~10–18% to gas. For deep-liquidity tokens (AAVE, UNI, LINK, PENDLE, LDO, ETHFI) the same canonical token on Arbitrum costs ~1–2% — identical asset, backed 1:1 through Arbitrum's official rollup bridge (not a third-party wrapper), held at the treasury's EVM address. Tokens without deep L2 liquidity (ENA, SKY, ONDO, CRV) stay on Ethereum. Every address is verified against CoinGecko's canonical list before use.
Is there a minimum to claim?
Yes, per chain: $1 worth of accrued value. Below that, the gas to send it would cost more than the payout is worth, so it just keeps accruing until it clears the bar — nothing is ever lost.
Can I get paid twice for the same cycle, or lose a payout mid-flight?
No. Every accrual only ever moves forward through one-way states — accrued, then reserved for a specific payout, then sent — and a payout that has recorded its on-chain transaction is never reverted, even if the app crashes right after. The one thing that can be reverted is a payout that never actually broadcast a transaction; that's freed back to accrued automatically. Everything in between is left for an operator to verify against the chain directly, so a real, sent payment can never be paid out again.
Do I need to stake or lock anything?
No. Just hold S&P·INDEX above the threshold at the cycle snapshot. No staking, no lockups, the token stays freely transferable.
What happens if I sell part of my balance?
Eligibility and your pro-rata share are measured at each cycle's snapshot. Sell below the threshold and you stop accruing for future cycles; already-accrued SOL and in-kind balances stay claimable.
Is the countdown exact?
No. It marks the cycle cadence, not a guaranteed block time. A cycle only spends once fees clear the minimum spend threshold, so some ticks pass without a purchase.
Can the constituent list or parameters change?
The list is a manually maintained estimate and can be edited as names are disclosed; changes affect future buys only, never existing holdings. Tunables (interval, thresholds, split) can change and are documented here.
Not affiliated with S&P Dow Jones Indices or Pantera Capital. The constituent list is an estimate, not the published index. Holding this token confers no claim on the vault, only on the claim pool, on the terms above. Not financial advice.