How it works
A HOP token is a normal Solana token in a normal Meteora pool. The one unusual thing is who owns the liquidity, and what that owner is allowed to do with it.
The idea
Every meme token paired with a stock so far has been married to it. Pick Tesla, and you live and die with Tesla. HOP keeps the pairing, because a stock pair is what gives a token a story, but it makes the pairing movable. The liquidity sits in a program-owned vault instead of a wallet, and the vault can move it from the Tesla pool to the SpaceX pool without changing the dollar price of the token.
Nothing else changes. Same token, same holders, same balances. Only the stock on the other side of the pool is different.
1Launch
A launch mints one billion tokens and puts all of them into a new pool paired with the stock you picked. You keep no allocation and the mint authority is burned in the same transaction, so nobody, including HOP, can ever create more.
You choose a start market cap. The pool opens single-sided at that price: it holds only your token, and the first buyers bring the stock. There is no bonding curve and no migration; the pool people trade on day one is the pool people trade on day one hundred.
- Supply
- 1,000,000,000, fixed
- In the pool at launch
- 100 %
- Creator allocation
- 0
- Capital needed
- none
- Cost
- about 0.06 SOL in rent plus network fees
Prefer a two-sided start? Choose Seeded and deposit some of the stock yourself. The pool then opens with real depth on both sides.
2Trade
The pool is a standard Meteora DAMM v2 pool, so every terminal and wallet that trades Solana can trade a HOP token: Axiom, GMGN, Phantom, Jupiter, Dexscreener. HOP itself has no trading interface and does not need one.
Every pool carries a flat 2 % trading fee, collected in the stock. Most of it flows back to the people around the token: holders, the creator, and the pot that pays for hops. The split is on the tokenomics page.
3Hop
A hop moves the whole vault from one stock pool to another. It starts with a public request: the token page shows the target stock and a countdown that is at least one hour long. When the countdown ends, the keeper runs the hop. Anyone can run it too.
- The vault records the current dollar price of the token and removes its liquidity from the old pool.
- It sells the old stock for USDC and buys the new stock, on Raydium, with a minimum output derived from Pyth prices. Large vaults do this in several steps, ten minutes apart, to keep price impact small.
- It opens the new pool, or reactivates it if the token has been paired with that stock before, at exactly the recorded dollar price, and adds the liquidity.
The token’s price in dollars is the same before and after. Whatever the swaps lose to slippage is paid from the hop pot, never from the price. If anything fails halfway, the hop aborts and the liquidity goes back into the old pool.
The token page draws one continuous price line across all of this, with a band for every stock the token has been paired with.
4Who decides
At launch the creator picks one of three policies, and can change it later from the creator panel.
- You
- The creator requests hops by hand, whenever the story moves.
- Momentum
- Hops automatically to the listed stock with the best return over the last seven days.
- Never
- The pair is fixed. Same guarantee as burned liquidity.
Two more controls exist for trust. A creator can lock the pair until a date, and a lock can only ever be extended. And a creator can burn the hop rights outright, which turns the token into a permanently paired one. Both are shown on the token page under Terms.
Between hops there is always a cooldown, at least one hour, set at launch.
5For holders
Holders do nothing. No claim, no wrap, no migration, no new contract address. Your balance before a hop is your balance after it, and the token is worth the same number of dollars.
Holders also earn. One percent of every trade is set aside for them and paid out pro rata in the stock the token was paired with when the fee was earned. Hold a token paired with Nvidia and you receive Nvidia.
6What cannot happen
- Liquidity cannot be withdrawn. It belongs to a program account with no instruction that sends it to a wallet. It can move only from a pool, through the vault, into another pool.
- Nobody can mint more tokens. The mint authority is burned at launch.
- A hop cannot target an arbitrary token. Targets come from a whitelist of tokenized stocks with a minimum-liquidity check on the destination.
- A hop cannot happen silently. Every hop is announced on-chain with a countdown of at least an hour.
- Rewards can only be paid to holders of the token, in the paired stock, by the reward instruction.
7Known limits
The stocks are issued by a third party and can be paused by that issuer. If the stock a token is paired with gets paused, trading in that pool freezes until it is unpaused. That freeze comes from the issuer, not from HOP, and a hop cannot move a paused stock either.
Old pools stay open after a hop, because Meteora pools cannot be closed. Arbitrage keeps them at the same price as the active one, and the vault’s depth dominates, but they exist.
Tokens launched on HOP are not shares and give no claim on any company.