04 · Mechanics
The SPYx pair
Why a Flisk coin trades against the S&P 500.
Pump.fun lets a coin be quoted in tokens other than SOL. A Flisk coin uses SPYx, a Solana token by Backed that tracks the S&P 500.
What this changes
- the coin's price is in SPYx, so its floor and its price are in the same unit
- the creator fee is paid in SPYx, so the reserve holds a piece of the index, not SOL
- terminals and Jupiter route a buyer's SOL into SPYx and then into the coin, so buying feels the same
What it does not change
The curve shape, the graduation threshold and the PumpSwap migration are all Pump.fun's and work exactly as for any other coin.
ℹ the first buy
A creator who buys at launch needs SPYx in the wallet, because the launch transaction trades on the curve directly. Everyone after that can come in with SOL through any router.