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How the square works.
What it is
FAIR/SQUARE is a launchpad for tokens where the right to launch is granted per wallet. Anyone can trade. Only a sealed wallet can open a curve or a presale, and seals are granted by a vote of $FRSQR stakers.
The name is the promise. A fair launch has no hidden presale, no hidden allocation and no early exit. A square is a place where the whole town can see what is going on.
Thesis
Rugs have polluted the space. Most coins launched on‑chain exist to take money, not to build anything. Anyone can deploy for free, with no name attached, pull the liquidity and walk. Good projects get buried under thousands of bad ones, and people lose money to the wrong ones every day.
Scanners, locks and renounced contracts have not fixed it. They check the code. The problem is the person.
Every market people trust is gated. A stock needs a listing before it trades on an exchange. A drug needs approval before it reaches a pharmacy. The App Store only carries apps Apple has reviewed, and it is the biggest software store in the world because of that, not in spite of it. Gates are not the enemy of open markets. They are why anyone shows up.
Now picture a launchpad built the same way. Every coin on it came from someone who was checked and voted in. Every raise on it was escrowed, capped and declared. Buyers do not have to be detectives. Builders do not have to fight for attention against a thousand scams.
That is FAIR/SQUARE. Nobody launches or raises here without a seal, and every seal is voted on by $FRSQR stakers. The rules are fixed. Liquidity sits on a curve and migrates with the LP locked forever, so there is nothing to pull. A bad launch costs the launcher their seal, in public, for good.
Gate the launcher, not the trader. This is the future of gated token raises and coin launches.
| Out there | On the square |
|---|---|
| Anyone deploys, anonymously, for free | Only a sealed wallet launches, and stakers voted on that seal |
| Liquidity pulled after the buy‑in | Curve to Meteora DAMM v2, LP locked forever. No one can withdraw it |
| Presales in a Telegram group, insider bags | Presales only from sealed wallets, escrowed on‑chain, capped, and they become the first buy on the curve |
| Cookie‑cutter tokens with nothing behind them | Full control of mechanics. Connect any app, set your own fees and rewards, ship a real product |
| No consequences | Seal revoked by vote, on the record, and that wallet never launches again |
The seal
A seal is an on‑chain record tied to one address. It carries a serial number, the date of issue, the vote that issued it and a tier.
| Field | Example | Meaning |
|---|---|---|
| Serial | FS‑0042 | Sequential. Lower numbers were issued earlier. |
| Issued | 2026‑09‑14 | Date the seal was pressed after the vote closed. |
| Chain | solana | Where the wallet may launch. Solana for now. |
| Tier | founder | founder, studio or guest. Guests may launch once. |
Seals do not transfer. If you rotate keys, request a new seal for the new address. Seals can be revoked by vote for a launch that breaks the rules below, and the revocation is public. The first seals were issued by the square itself at genesis; after genesis closes, only a vote can press one.
$FRSQR and voting
$FRSQR is the token that powers the square. It has three jobs: staked, it decides who gets a seal; it collects the square's revenue through buybacks; and the bought‑back tokens are paid to stakers.
| Parameter | Value |
|---|---|
| Voting power | 1 staked $FRSQR = 1 vote, counted when you vote |
| Window | 72 hours from posting |
| Quorum | 10,000,000 $FRSQR staked |
| Passes with | More than half of votes cast |
| To post a request | 1,000 $FRSQR staked, or a sealed wallet posting for you |
| Revocation | Same vote, opened by anyone with 10,000 $FRSQR staked |
| Unstake cooldown | 7 days |
Votes are transactions on Solana, so they cost a fraction of a cent. Staked tokens are never lent or moved; unstaking starts a cooldown longer than a vote window, so the same tokens cannot vote twice on one request. Every number in this table is a parameter on the registry, not a constant in the code, so the square can tune itself.
Launch rules
Every coin launched here runs on the same parameters. They are not options.
- Fixed supply of one billion units, minted once, mint authority gone.
- No hidden presale. Either the first buy on the curve is the first buy there is, or the presale ran here, sealed, escrowed and public.
- Bonding curve. 800 million units sell along the curve; 200 million are reserved for the pool.
- Migration. When the curve fills, the raised quote and the reserve move to a Meteora DAMM v2 pool and the liquidity is locked permanently.
- Everything else is yours. Fees, allocation, vesting, the app behind the coin. See Creator terms.
The curve
Every coin on the square launches on Meteora's Dynamic Bonding Curve, shaped like the one that made pump.fun work: a single constant‑product segment. There is no liquidity to lock during the curve because there is no liquidity provider; the curve is the market until it fills, and then the DAMM v2 pool is.
| Parameter | Value |
|---|---|
| Total supply | 1,000,000,000, six decimals, minted once |
| Sold on the curve | 800,000,000 |
| Reserved for the pool | 200,000,000 |
| Pricing | Constant‑product on virtual reserves; price rises with every buy, falls with every sell |
| Graduation | A quote amount the creator sets, within 1 to 1,000 SOL |
| After graduation | Meteora DAMM v2 pool, liquidity permanently locked, trading continues there |
Creator terms
The square fixes how a coin is born. It does not fix what a coin earns. These terms are set per launch by the creator, inside bounds that stakers control, and they are written on‑chain before the first trade.
| Term | Bound | Enforced by |
|---|---|---|
| Creator fee on curve trades | 0% to 5% | the curve, paid on every trade |
| Pool fee after graduation | 0.25% to 10% | the DAMM v2 pool |
| Creator allocation | up to 10% of supply, with a cliff and linear vest after graduation | Meteora's locker, unlocks on schedule |
| Locked‑LP fee share | creator/square split, 0% to 100% | the locked positions |
| Graduation amount | within the bounds above | the curve |
Sealed presales
A presale on the square is a raise that cannot rug. Only a sealed wallet can open one. The terms are on‑chain before the first contribution: caps, window, who may contribute, what share the builder keeps, and how contributor tokens vest. Funds sit in escrow in a program vault.
- Eligibility. The launcher chooses: sealed wallets only, or anyone. Sealed‑only presales turn the seal into an allowlist of vetted participants.
- Escrow. Contributions can be withdrawn while the window is open. If the soft cap is missed, everyone withdraws. If the launcher cancels, everyone withdraws.
- Settlement. When the window closes with the soft cap met, the square takes 1% of the raise. The builder's declared share (at most 50%) stays in escrow. Nothing reaches the builder until the coin exists.
- The first buy. The curve opens from the exact terms and curve the presale committed to, and the escrowed raise buys tokens in the same transaction, before anyone else can trade, at the floor price. Only then is the builder's share released. Every contributor claims their pro‑rata share on the vesting schedule the presale declared.
- Capacity. The hard cap must fit under the curve's graduation amount, so the pooled buy can always execute.
- Grace. If a successful raise is never settled, or a settled raise never opens its curve, within one presale window (14 days), contributors take back everything but the square's fee, builder share included.
- Window. At most 14 days.
Nothing about a sealed presale is private. The raise, the contributors, the builder's share and the tokens bought are all readable on‑chain and shown on the coin's page.
Mechanics
Beyond the terms above, every mechanic is the launcher's to design. It is declared when the curve opens and written on the coin's page, so buyers see it before the first trade and stakers see it before the seal.
| You control | Examples |
|---|---|
| Connected app | Point the coin at any app, game, service or contract. Token‑gate it, meter it, or pay out from it |
| Holder rewards | Route your creator fees or revenue to holders, stakers or an app treasury |
| Buybacks and burns | Automatic buyback from fees, burn schedules, supply sinks inside your app |
| Staking | Your own staking program, fed by your fee share |
Only the fee split and the vesting are enforced by the curve itself. The rest is a public commitment made under a seal that can be revoked.
Fees and buybacks
| Action | Fee |
|---|---|
| Open a curve | 0.1 SOL |
| Curve trade, to the square | 0.5% of notional |
| Curve trade, to the creator | creator's choice, up to 5% |
| Curve trade, to Meteora | 20% of the gross curve fee, plus 0.2% of liquidity at graduation |
| Presale settlement | 1% of the raise |
| Pool fee after graduation | creator's choice, earned by the locked liquidity and split creator/square |
Everything the square earns lands in one on‑chain treasury. The treasury buys $FRSQR back and deposits it into the stake pool, where it is streamed to stakers in proportion to their stake. Every buyback and every deposit is a public transaction.
Chains
Solana, for now. Seals are issued to Solana wallets, curves open on Meteora, and graduation goes to a Meteora DAMM v2 pool with the liquidity locked. More chains come later, and a seal will name the chain it was issued for.
Questions
- How long does approval take?
- One vote window. Anyone can finalize the vote once it closes and press the seal.
- Can a company hold a seal?
- Yes. A studio seal is tied to a multisig address and lets any signer open a curve.
- Who can vote?
- Anyone with $FRSQR staked at the time they vote.
- What happens to a revoked seal's coins?
- Nothing. The coin keeps trading. The wallet cannot launch again.
- Who graduates a filled curve?
- Anyone. Meteora's keepers do it on mainnet; the square's crank does it too, and the coin page has a button.
- Is the allowlist public?
- Yes. Use the wallet checker, or read the registry program directly.
Terms
FAIR/SQUARE is software. It does not advise, custody or guarantee. Tokens launched or raised here can lose all of their value. A seal is a vote by token holders, not an endorsement by anyone. Nothing on this site is an offer to sell securities.
Privacy
The site stores which wallet you last connected. If you sign up, your email. Wallet checks are not logged; they are read straight from the chain.