How Pairing Works

The creator fills in name, symbol, image and socials, chooses a Pair Instrument and optionally a first buy. PairStreet stores the image and an immutable metadata JSON (served at /api/metadata/<id>), then builds up to three Solana transactions. The creator signs all of them in one wallet prompt (signAllTransactions) and they are sent in order. The token is created by the Pump program on Solana.

Selection happens in the launch form, before anything is signed. The creator picks Tokyo Residential from the catalog. PairStreet accepts only instruments whose status is active, and the Eligibility EngineEligibility EngineEvaluates a viewer's region and verification state against a Pair Instrument's rules and returns allow or restrict before any Pair interaction. checks the creator’s region against the instrument’s rules. A launch into an instrument the creator’s region restricts is rejected with “Pair unavailable in your region.”

/api/launch/confirm verifies the launch on-chain (mint and creator in the transaction, bonding curve exists), then writes the token, its market and the Pair MarketPair MarketThe canonical pairing of an internet asset with a financial Pair: TOKEN × PAIR INSTRUMENT, plus the Pair Vault, configuration and accounting that connect them. in one database transaction. The canonical relationship is $TOKYO × TKYRES. PairStreet reads the fee split back from chain, stores it in the market’s configuration, and emits TOKEN_CREATED and PAIR_SELECTED. Mainnet markets register with status settlement_disabled, shown as “Settlement pending”.

Pump’s creator fees for the coin accrue to its fee-sharing config. The permissionless distribute_creator_fees instruction pays them out: 50% to the creator and 50% to the PairStreet PairStreet treasuryPairStreet treasuryThe protocol wallet that receives the protocol share and Pair Vault reserve of creator fees plus the 0.5% trading fee., which carries the 25% protocol share and the 25% Pair Vault reservePair Vault reserveThe 25% share of a Pair Market's creator fees earmarked for its Pair Vault. Held by the PairStreet treasury until the market's settlement route activates.. Until the market’s vault custody activates, the reserve accrues to the treasury, attributable per market because each coin has its own sharing config.

On the market’s settlement cadence (hourly by default), the Pair RouterPair RouterThe execution layer that converts a Pair Vault's settlement balance into an acquisition plan for the Pair Asset and hands it to the right executor. plans an acquisition with planAcquisition. It evaluates the target instrument, the Pair VaultPair VaultThe account that receives settlement value allocated to one Pair Market, holds it until conversion, and holds the acquired Pair Asset until it is allocated to holders.’s settlement balance, the provider, a quote, the instrument’s status and the Route modeRoute modeHow the Pair Router acquires a Pair Asset: ONCHAIN_SWAP, PROVIDER_API, RFQ, ISSUER_MINT or BROKER_ROUTE.. The result is an AcquisitionPlan; each condition still to be met before execution is listed in blockers.

executeAcquisition(plan, vaultAddress) hands the plan to the provider’s executor. The Pair Asset is acquired into the market’s Pair Vault and the execution returns the output amount, execution price and transaction signature. For an ONCHAIN_SWAP instrument this is a swap of the settlement asset into the instrument’s SPL token.

PairStreet records the amount spent, the asset quantity, the execution price, the provider, the transaction and the settlement it belongs to, as rows in pair_settlements and pair_purchases. The pair_markets read model (Pair Value, Pair Asset balance, lifetime acquired) is rebuilt from those rows.

A Reward EpochReward EpochA window over which acquired Pair Asset is allocated to eligible holders by their holder weight. Produces exact integer allocations and a Merkle root. allocates acquired Pair Asset to eligible holders by Holder WeightHolder WeightA holder's share basis inside a reward epoch. Under the time-weighted method: the integral of balance over time held inside the epoch (token-seconds)., time-weighted balance by default. The creator, the vault and liquidity accounts are excluded. Allocations are exact integers that sum to the pool, and a Merkle root is computed over them.

The holder claims through POST /api/rewards/claim. Eligibility is checked again for the holder’s region, and each allocation pays out once. An onchain Merkle distributor for claims is planned and activates with settlement.

The Pair Asset arrives in the holder’s wallet. From that point it is custodied by the holder and governed by its issuer’s terms, like any other token the wallet holds.