The mechanism
A coin launched here is an ordinary pump.fun coin on the bonding curve, with one thing changed: the creator named at mint time is not the launcher's wallet. It is a fresh key derived for that coin alone, and pump routes that coin's creator fees - 30 basis points of every trade - to a vault only that key can spend.
A keeper process holds the secret those keys are derived from. Every 90 seconds per coin it claims whatever has accrued, and once the vault holds more than 0.02 SOL it swaps the lot to wrapped Monero through Jupiter. When the resulting pool passes 0.01 XMR it opens a distribution round.
Nothing is pooled across coins. Each launch has its own vault key precisely so one coin's fees cannot fund another's payouts, by accident or otherwise.
How a round is computed
Opening a round reads every account holding the coin at a single slot and freezes that set. Shares are computed in integer arithmetic against it, with the leftover units from truncation handed to whoever was rounded down hardest, so the parts sum to exactly the pool rather than to slightly less.
Two balances are excluded: the bonding curve's own unsold supply, and the fee vault's. Neither is a holder, and counting the curve would hand most of every distribution to an account that cannot spend it.
Balances are read once, when the round opens. Selling after the snapshot does not forfeit that round - you held the coin over the window the fees were earned in. Anything owed below 0.0001 XMR is left in the pool and rolls into the next round instead of being delivered as dust.
The three payout modes
Set once per wallet on the privacy page, and applied to every coin you hold. Changing it affects rounds opened afterwards, never one already computed.
Protects
Nothing. It is a plain Solana transfer.
Costs
Permanently links your wallet to the coin and to everybody paid in the same round.
Protects
The on-chain connection between the wallet that held the coin and the wallet that receives the payout. No transaction ever joins them.
Costs
Not protection from us. This server sees a commitment registered by one wallet and a secret spent by another. It does not record the pair - the registration stores only a hash and the claim only a nullifier - but that is an operating promise, not cryptography. The secret is also bearer authority: whoever holds it can claim, once.
Protects
Everything Monero protects: ring signatures, stealth addresses, confidential amounts. The only mode here with real cryptographic privacy rather than broken linkage.
Costs
The wXMR bridge is custodial, charges 0.1% to redeem, and learns your Monero address. Your address is stored encrypted under a key the web server does not have, but it is stored.
What you are trusting
The keeper. It holds the secret every fee vault is derived from, which means it could in principle move a pool somewhere other than to holders. It runs as a separate process rather than on the web deployment, so the key is not sitting on a public host, but this is custody and calling it anything else would be dishonest.
The wXMR bridge. Payouts are made in wrapped Monero, whose backing is asserted by the bridge operator publishing spend proofs rather than enforced by a contract. The mint authority is a live key. If the bridge fails, wXMR is what you are holding.
pump.fun. The curve, the fee schedule and the migration to PumpSwap are theirs, not ours.
Launching
One transaction creates the coin and, optionally, buys into it at the opening price. The launcher pays the fee and receives whatever the initial buy bought.
The launcher does not receive the creator fees - that is the trade. They are paid as a holder of their own coin, in proportion to what they hold, like anybody else. This is fixed when the coin mints and cannot be changed afterwards.