PairStreet

PairStreet is a launchpad and a financial-pairing protocol on Solana. A creator launches a token and, in the same flow, pairs it with a Pair InstrumentPair InstrumentThe financial exposure a Pair Market is paired with, such as Tokyo Residential or Swiss Government Debt. A catalog object with a provider, an eligibility policy and a status.: Tokyo Residential, Swiss Government Debt, NYC Municipal Debt, U.S. Housing, Gold, or any other instrument in the catalog.

The token is an ordinary Solana token. It is minted by the Pump program, trades on its Pump bonding curve, and graduates to PumpSwap like any other Pump coin. Wallets, explorers and aggregators see a standard SPL token.

The Pair is the part PairStreet adds. It is a separate economic object with its own record, its own share of the market’s economics, its own vault, its own settlement route and its own holder accounting. The token market and the financial Pair live side by side, joined by configuration rather than by redefining the token.

PairStreet separates token issuance from financial pairing.

That separation is the whole design. Pump and Solana handle issuance, price discovery and liquidity. PairStreet handles the Pair: which instrument, which provider route, how much value flows toward it, how it is acquired, and how it reaches eligible holders.

The object PairStreet creates is 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.. Conceptually it is TOKEN × PAIR INSTRUMENT: an internet asset combined with a financial Pair, plus the infrastructure that connects them.

Every Pair Market is one row in the Pair Registry (the pair_markets table). It links the token, the chosen Pair Instrument, the creator wallet, the Pump bonding curve, the Pair Vault, a status, a ledger mode and a configuration that fixes the economic sources, the reward methodology, the settlement cadence and the creator-fee split.

Read the diagram as a single rail. Value enters on the left of the first row as a token launch and leaves on the last row as a Pair Asset in a holder’s wallet. The Pair Market sits in the middle: everything before it is token infrastructure, everything after it is Pair infrastructure. How Pairing Works walks every station step by step.

Four objects to keep apart

The Pair Instrument is the exposure a market is paired with (Tokyo Residential). The Reference MarketReference MarketThe real-world market a Pair Instrument describes, for example Tokyo residential property. Used for identity and pricing context; not something a wallet holds. is the real-world market it describes (Tokyo residential property). The Pair AssetPair AssetThe transferable onchain asset the implementation acquires and distributes for a Pair Instrument. Holders receive the Pair Asset, not the reference market itself. is the transferable onchain asset the implementation acquires and distributes for that instrument. The ProviderProviderA source of a Pair Instrument behind the common provider interface: an onchain venue, a tokenized-asset issuer, an RFQ desk or a broker route. is the venue or issuer the Pair Asset comes from. Pair Instruments treats each in detail.

The documentation is written for three readers. Each has a different first question and a different shortest path.

A crypto user needs to know what the Pair is and what it is not: the token is paired with an instrument, and holder rewards are paid in its Pair Asset once the route is active. An engineer needs the object model, the ledger and the transaction flow. A provider needs the interface its adapter implements and the route modes the Pair Router can execute.

Chapters are ordered from idea to implementation. The early chapters define the objects; the middle chapters follow value through the system; the later chapters cover the protocol, the developer surface and the reference material.

Every figure carries a label. MAINNET and LIVE figures show current behavior on Solana mainnet. ARCHITECTURE figures show the system design. ILLUSTRATIVE and EXAMPLE SETTLEMENT figures use worked numbers chosen for clarity, never production activity. PLANNED marks components that are designed and scheduled.

PairStreet runs on Solana mainnet. Launch, the creator-fee split, trading, the instrument catalog, eligibility and Pair Requests are live. Settlement into each Pair Asset activates per instrument, when that instrument’s provider route and the market’s Pair Vault custody activate.

Until a market’s settlement route activates, its 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. (25% of its creator fees) accrues to the PairStreet treasuryPairStreet treasuryThe protocol wallet that receives the protocol share and Pair Vault reserve of creator fees plus the 0.5% trading fee.. Each coin has its own fee-sharing config on-chain, so the reserve is attributable to its Pair Market from the first trade.

Seven phrases describe how a token relates to an instrument and its asset. Each means one thing. The documentation never interchanges them, and neither should integrations, interfaces or announcements built on PairStreet.

Paired with

The Pair Market’s relationship to its Pair Instrument, chosen at launch and stored as pair_markets.pairInstrumentId. “$TOKYO is paired with Tokyo Residential.” It states the configured relationship and nothing more.

Rewards paid in

The asset holders receive from reward epochs: the instrument’s Pair Asset, recorded per epoch as reward_epochs.rewardInstrumentId.

Acquired by

The mechanism that obtains the Pair Asset: 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., executing a route mode through a provider into the market’s Pair Vault.

Tracks

The reference market an instrument follows for identity and pricing. “Tokyo Residential tracks Tokyo residential property.” Pricing context, not ownership.

Issued by

The entity that issues a Pair Asset. “USDY is issued by Ondo Finance.” Issuer terms govern the asset itself.

Redeemable for

What an asset can be exchanged for with its issuer, under the issuer’s terms. It applies to a Pair Asset; a PairStreet token is not redeemable for its Pair Instrument.

Custodied by

Who holds an asset. Acquired Pair Asset awaiting allocation is custodied by the market’s 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.; claimed Pair Asset is custodied by the holder’s wallet.

The principle behind the list is short: paired is not backed. Why Pair Markets explains it, and the Glossary defines every other term.