How it works
Every token ends, and pays out
Every Lastcall token stops at a hidden minute: holders get the liquidity back, and the bounty built from its trading fees pays the latest buyers and everyone still holding. You claim it all in the app.
lifespan
5 min to 24 h
drawn on-chain, hidden
bounty split
60 / 20 / 20
of the bounty, at last call
launch tax
50% → 4%
over 3 min 4 s
to launch
0.05 SOL
plus account rent
A token's life, in six steps
01 · launch
A token is launched
Anyone launches a token for 0.05 SOL. The program mints 1 billion tokens, puts all of them in a Meteora pool whose liquidity only the program holds, and gives up the mint and freeze authorities. Nobody gets free tokens, the creator included.
02 · the bounty
Every trade feeds the bounty
Each buy and each sell pays the pool's fee: 50% in the first seconds, falling to 4% at 3 min 4 s, then 4% for good. 60% of every fee lands in the token's bounty, so whoever snipes the launch fills it the most.
03 · the last round
The last round has 30 places
The last round is the 30 most recent buyers. A buy made in the app of at least 0.05 SOL (or 1% of the bounty once that is more) takes a place. One place per wallet. Every new buyer pushes the oldest one out, and selling gives the place up.
04 · the hidden timer
Nobody can see the timer
From minute 5 the chain draws about once a minute whether the token ends. Nobody can read a draw in advance, Lastcall included. Nearly half of the tokens end within their first hour; at 24 hours a token ends for sure.
05 · last call
Last call: trading stops
No more buys, no more sells. Holders get the liquidity back, by tokens held. The bounty is split: 60% to the last round by the time each held its place, 20% to the closer (the most recent buyer of all), 20% to every holder.
06 · the claim
You claim it in the app
Nothing is sent on its own. Open the ended token: one signature burns your tokens and sends your SOL, with your last-round prize in the same claim. There is no deadline.
Where every fee goes
The fee is collected in SOL on every buy and every sell, on every venue. Meteora keeps its protocol cut first; the rest is split by the program. The pool's own SOL is never cut: at last call all of it goes to the holders.
| of a trade | at 4% | at 50% |
|---|---|---|
| The token's bounty | 2.4% | 30% |
| The token's creator | 0.4% | 5% |
| Lastcall (platform) | 0.4% | 5% |
| Meteora | 0.8% | 10% |
Who wins, who loses
A simulator that replays the program's rules trade by trade. Try your own move, or open a prepared scenario and read who paid what and what came back. Yes, you can lose: the numbers below say when.
You buy at
How much
The token
It ends at
You sell before last call
A place in the last round
your result
You come out ahead+0.40 SOL (+80%)
The launch tax took 35% of your buy (0.17 SOL), most of it into the bounty; you bought under the average price paid, so your slice of the pool is worth more than you paid; newer buyers pushed you out of the last round at 7 min 2 s, so nothing from the bounty.
The token: ended at 1 h with a market cap of $40k (297 SOL) after a peak at $59k; 900 other trades, 48% of them sells, 506.4 SOL of volume; 64.35 SOL back to the holders (the net inflow), bounty 14.46 SOL split between the last round (30 buyers counted), the closer and every holder (2.89 SOL into the pool). Whatever is yours waits in the vault until you claim it in the app.
- Paidat minute 1
- 0.50 SOL
- Fee at your buythe launch tax, 60% of it into the bounty
- 35% · 0.17 SOL
- Tokens0.91% of the supply
- 9.1M
- What the chart saidyour tokens at the last price, market cap $40k at last call: not what you get
- 2.71 SOL
- Your slice of the poolwhat you claim: 64.35 SOL in the pool plus 2.89 SOL from the bounty, for 682.0M tokens
- 0.90 SOL
- Last-round prizepushed out at 7 min 2 s by newer buyers
- 0 SOL
- Closer bonus20% of the bounty, to the closer
- 0 SOL
- Got back in total
- 0.90 SOL
The assumptions behind these numbers
The pool is the launch pool: 1B tokens, a 30 SOL launch market cap ($4,080 at $136 per SOL), constant-product curve (market cap = (30 + net SOL in)² / 30). The crowds are the real-market scenarios' ones, compressed into the chosen life: 900 trades here, about half of them sells, partial or full, spread through the life, the buys sized so the chart ends near $8k for a token that stays small, $40k for a decent run and $280k for a runner (a pump and dump peaks around $100k then loses most of it). The calibration is rough orders of magnitude from how memecoins trade on Solana, not measured facts: most tokens end under $10k with a few hundred trades, about 1 in 10 reaches $50k, about 1 in 100 passes $300k, $1M+ is roughly 1 in 1,000; roughly half of all trades are sells; the volume is several times the net SOL that stays in the pool. A big run inside the launch tax pays it on every trade, so its bounty is out of proportion: that is the rules, not a bug. Fees and the last round follow the rules exactly: 50% fee at launch falling to 4% over 3 min 4 s, 60% of every fee into the bounty, 60% of the bounty to the last round by time since their buy, 20% to the closer, 20% to every holder with the pool, a 6.5 s warm-up, a buy of at least 1% of the bounty to take a place, the pool's SOL shared by holders in proportion to their tokens. No network fees, no slippage settings. The SOL figures are the computed ones; only the dollars are an assumption.
Short answers
Can I lose money?
Yes. At last call the pool is shared by tokens held, so a token is worth the average price the holders paid, not the last price on the chart. Buy late and high, and your share is usually worth less than you paid: in the simulator's ×8 pump the late buyer ends at −58% while the early one ends at +88%. A place in the last round can make up for it, but most holders do not hold one when the token ends. The rules fix where the SOL goes, not that you profit.
Who decides when a token ends?
Nobody. Each draw is settled by a Solana block hash that does not exist yet when the draw is due, so no one can read it early. The chance of a draw hitting shrinks slowly as the token gets older, and at 24 hours the token ends without a draw. The limits of this method are listed in the risks.
Do I have to hold until last call?
No. You can sell at any time before it, at the chart price minus the fee. Selling gives up your place in the last round, and tokens you sold have nothing to claim: your SOL already came out of the pool.
How do I take a place in the last round?
Buy at least 0.05 SOL of the token in the app (1% of the bounty once that is more). Buying again keeps your place and its original time. A buy younger than about 6.5 s at last call is not counted, so nobody can slip in at the last instant.
What if I buy somewhere else?
The pool is a standard Meteora pool, so tools that route Meteora pools can trade it, and the fee is the same everywhere. You are a holder like any other and claim your share of the pool here. Only buys made in the app take a place in the last round.
What does the creator get?
10% of every fee, claimed after last call. No free tokens and no allocation: the whole supply starts in the pool, and the creator's first buy pays the launch tax like anyone's.
See it on a live token
Every token page shows its bounty, its last round and every trade as it lands.