Docs · Guides
The reel guide
One pool program, the Hook Blocks you build a pool from, what each one charges, and where to find each part in the app.
The picture
On reel a pool is a line, and Hook Blocks are threaded onto it. A swap runs along the line; each block has its say in a fixed order (guards first, then fees, then what happens after the fill); and at the end every charge splits into a money map anyone can read. The blocks and their settings are frozen when the pool opens.
This deployment is configured with the reel program at Ajvhesd3q6yJFgnBL6vppAJDF7gP6nmksA8WkrTM4vcJ. reel and reel-hook were reviewed and verified end to end on Solana mainnet; their upgrade authority is the reel treasury, BA9VJD2ux2XtQ1diiurBR9pmgqtb33ivs6H8fmSgNPXr. reel-vaults, the periphery program, is verified on mainnet module by module, and its upgrade authority moves to the treasury when that finishes.
Where things are
| Page | What it's for |
|---|---|
| Discover | Pools, hooks, tokens and revenue tokens, read from chain |
| Hook Blocks | Every block: what it does, its settings and bounds, its status |
| Builder | Compose a board, check it, share it or save it as a hook |
| Launch | Open a new or existing token in up to 8 pools |
| Kings | King of the Pool rounds and winners |
| Portfolio | Your positions, ledgers and what you can claim |
| Scan | Read an address: a mint's authorities and extensions |
Statuses
Every block in the catalog carries one status. Only “In the program” and “Launch option” are things a pool can use once the program is deployed.
| Status | Blocks | Meaning |
|---|---|---|
| In the program | 21 | A per-pool block (or per-swap feature) in the reel program, frozen at PoolInit. |
| Launch option | 6 | Set in the reel launch flow (LaunchCreate to LaunchFinalize). |
| In reel-vaults | 4 | Beside the pool, in a reel-vaults module that runs on Solana mainnet. Set up next to a pool, off the swap path. |
| Partial | 8 | reel runs part of it; the reason says which part. |
| Periphery, coming | 7 | Beside the pool, in a reel-vaults module that is not in the deployed build yet. The reason says which. |
| Not on reel | 2 | Not offered on reel; the reason says why. |
Every block, by category
Protection and access
Who may trade, when, and how much.
- Anti-Snipe · In the program. Caps and taxes early buys while the launch guard lasts. Sells never pay it.
- Buy/Sell Block · In the program. Pauses buys and locks sells for a set time after launch. Charges nothing.
- Wallet Cap · In the program. While the guard lasts, no wallet buys more than a set share of the supply.
- Sandwich Guard · In the program. A swap that moves price back toward where its window opened pays that move.
- Exit Clock · In the program. Sells pay a fee that falls the longer the tokens were held.
- Market Guard · In the program. Swaps that stray from a live Pyth price pay the pool's LPs a surcharge.
- Agent gate · In the program. Only registered agents can buy, sell or add liquidity. Removing is never gated.
- Canonical Venue Token · Partial. A new token that moves only between wallets and reel's own vaults.
- Recovery reserve · In reel-vaults. A public fund that repays LPs or traders after a reviewed incident.
Fees
What a swap pays, and how it moves with the market.
- Dynamic fees · In the program. The fee rises with how far a swap pushes the price. Pushing it back is free.
- Storm Fee · In the program. The fee rises when price turns choppy and eases as it calms, within fixed bounds.
- Swap Cut · In the program. A fixed cut of every buy and sell for the pool's liquidity owner.
- Minimum fee · In the program. A small fee to reel on a new token's pool that pays reel nothing else.
- Market-hours fee · In the program. A fee that follows the US stock market's sessions.
- Managed fee · In the program. A surcharge reel's keeper moves as price moves, inside a cap you fix at launch.
- Usage fee · In the program. Every swap pays a market block's builder, its backers, reel and a reserve.
- Hook Blocks Market · Partial. Builders publish bonded add-on blocks; pools that install one pay its usage fee.
Creator income
Royalties and taxes for the creator.
- Creator royalty · In the program. A share of LP Rewards on every buy, paid to a recipient fixed at launch.
- Tax + Conversion · Partial. A buy tax and a sell tax in the quote, paid to a recipient fixed at launch.
- Revenue Router · In reel-vaults. Shares the creator royalty among up to 8 payees at fixed shares.
- Revenue Tokenizer · Periphery, coming. Turns a fee right into a fixed supply of tokens whose holders share its income.
Rewards
Burns, prizes, pots and rewards for traders and holders.
- Auto Burn · In the program. Burns a set share of every buy's tokens in the same swap.
- Arb recapture · Partial. The pool keeps most of the price-gap profit instead of outside bots.
- King of the Pool · In the program. Each round's biggest single buy takes a prize from a pot recapture fills.
- Holder Pot · In the program. Sandwich Guard's charges fill a pot paid to holders by tokens × time held.
- Swap Reward Mint · In the program. Pays traders a reward token for each swap, funded by a slice of the trade.
- Referrals · In the program. Ref codes and links that pay referrers part of the protocol's cut.
- Nth-buy Pot · Not on reel. Held on hookr: King of the Pool takes its place.
Liquidity and yield
What LPs earn and how liquidity is held.
- LP Rewards · In the program. An extra fee on buys, kept by the LPs whose liquidity filled them.
- Pay Later · Periphery, coming. Buyers pay a premium now to reserve tokens at a fixed price for a term.
- Entry Ratio Guarantee · Periphery, coming. LPs can exit with the token amounts they put in, covered by forfeited fees.
- Floor bid · Partial. A treasury's standing bid below the price that buys the token as it falls.
- Fee Bridge · In reel-vaults. Pays a royalty or a tax, a capped drip at a time, to another pool's LPs.
Team tokens
The creator's own buys, locks and allocations.
- Dev buy and lock · Launch option. One first buy per pool inside the launch, then the launch liquidity stays locked.
- Liquidity lock · Launch option. Keeps the launch liquidity in its pools for a set time, or hands the launch to a lock.
- Supply you keep · Launch option. Declares on chain the most of a new token's supply the creator may hold at launch.
- Vesting Milestone · Periphery, coming. Locks a team allocation that vests after a cliff, then linearly.
- Dev Drip · Periphery, coming. Releases the creator's own allocation through the pool, a slice per window.
Pools and trading
Many pools, routes between them, and orders.
- Zap Relay source · Partial. Routes a cut of every buy to a zap vault that buys another pool.
- Zap Relay target · Partial. A pool only its feeder zap vaults may buy; anyone may sell.
- Pool Mesh · Periphery, coming. One zap vault, fed by many pools, that buys up to four target pools.
- Family Pinger · Periphery, coming. Runs every due zap and payout of a launch in one call, for a tip.
- Multi-pool launch · Launch option. Opens one token in up to 8 pools at once, each with its own quote and blocks.
- Supply split · Launch option. Seeds each pool of a new token with an exact share of the supply.
- Opening price check · Launch option. Fails the launch if a pool opens too far from pool 1's price.
- Limit orders · In reel-vaults. Escrow a trade with a price limit; anyone fills it once the pool pays the limit.
- Best route · Partial. Compares the pool with other venues before a trade and offers a clearly better route.
- Outside Fill · Not on reel. Fills part of a swap from an outside venue when it gives more than the pool.
Reading what a pool charges
A pool's page shows its base LP fee, its protocol share and each block with its settings, read from PoolParams. The money map beside it says, for a buy and for a sell, how much of each unit of quote goes to LPs, to the burn, to the pot, to the creator and to reel. Read Fees and the recapture split for how the shares are worked out.