Docs · Pools

Core blocks

The Hook Blocks in the reel program, what a creator sets on each, and the ranges the program accepts.

How a block sits on a pool

Each per-pool block is a bit in PoolParams.blocks with its settings beside it. PoolInit validates the whole set against the bounds below and the caps further down, then freezes it. Bits 14 to 21 are advisory blocks: a pool carries at most one. Bit 22, the minimum fee, is set by the program, not by the creator.

Block fees take the protocol share first: the share s is chosen at launch between 20% and 50%, and the rest goes to the block's destination. The base LP fee and the advisory surcharges are LP-only and pay no share.

Pool terms

Key	Setting	Min	Default	Max	Rule
`base_fee_pips`	Base LP fee	0.01%	0.3%	10%	Counted once in the 600,000-pip LP-fee room (PROGRAM.md §5a).
`protocol_share_bps`	Protocol share	20%	20%	50%	—

Every per-pool block

Bit	Block	What it does	Status
0	Anti-Snipe	Caps and taxes early buys while the launch guard lasts. Sells never pay it.	In the program
1	Dynamic fees	The fee rises with how far a swap pushes the price. Pushing it back is free.	In the program
2	Auto Burn	Burns a set share of every buy's tokens in the same swap.	In the program
3	LP Rewards	An extra fee on buys, kept by the LPs whose liquidity filled them.	In the program
4	Creator royalty	A share of LP Rewards on every buy, paid to a recipient fixed at launch.	In the program
5	Swap Cut	A fixed cut of every buy and sell for the pool's liquidity owner.	In the program
6	Exit Clock	Sells pay a fee that falls the longer the tokens were held.	In the program
7	Holder Pot	Sandwich Guard's charges fill a pot paid to holders by tokens × time held.	In the program
8	Storm Fee	The fee rises when price turns choppy and eases as it calms, within fixed bounds.	In the program
9	Wallet Cap	While the guard lasts, no wallet buys more than a set share of the supply.	In the program
10	Buy/Sell Block	Pauses buys and locks sells for a set time after launch. Charges nothing.	In the program
11	Sandwich Guard	A swap that moves price back toward where its window opened pays that move.	In the program
12	King of the Pool	Each round's biggest single buy takes a prize from a pot recapture fills.	In the program
13	Arb recapture	The pool keeps most of the price-gap profit instead of outside bots.	Partial
14	Market Guard	Swaps that stray from a live Pyth price pay the pool's LPs a surcharge.	In the program
15	Market-hours fee	A fee that follows the US stock market's sessions.	In the program
16	Managed fee	A surcharge reel's keeper moves as price moves, inside a cap you fix at launch.	In the program
17	Agent gate	Only registered agents can buy, sell or add liquidity. Removing is never gated.	In the program
18	Zap Relay source	Routes a cut of every buy to a zap vault that buys another pool.	Partial
19	Zap Relay target	A pool only its feeder zap vaults may buy; anyone may sell.	Partial
20	Swap Reward Mint	Pays traders a reward token for each swap, funded by a slice of the trade.	In the program
21	Usage fee	Every swap pays a market block's builder, its backers, reel and a reserve.	In the program
22	Minimum fee	A small fee to reel on a new token's pool that pays reel nothing else.	In the program

Settings of the most used blocks

Generated from the catalog. Every other block's settings are on its catalog page.

Anti-Snipe

Key	Setting	Min	Default	Max	Rule
`guard_secs`	Guard length	12 s	10 min	1,200,000 s (13d 21h)	A pool-level setting (§5a) that Wallet Cap and Buy/Sell Block share.
`snipe_cap`	Buy cap per slot	0 (off)	Named at launch	—	—
`snipe_tax_pips`	Snipe tax	0%	10%	60%	At most 600,000 − the base fee.
`snipe_floor_pips`	Tax floor	0%	0%	See rule	Below the Snipe tax.
`snipe_decay_secs`	Tax decay	0 s	5 min	See rule	At most 3,600 s, or the guard length if longer.
`snipe_curve`	Decay curve	Linear	Linear	Step	—

Dynamic fees

Key	Setting	Min	Default	Max	Rule
`dyn_max_pips`	Fee ceiling	See rule	2.3%	60%	From the base fee + 1 up to 600,000; it includes the base fee.
`dyn_sens`	Sensitivity	1	5	10	—
`dyn_window_secs`	Step every	12 s	30 s	5 min	—
`dyn_reset_secs`	Reset after	30 s	2 min	30 min	At least twice the step.
`dyn_carry_bps`	Gap kept per step	0%	75%	95%	—
`dyn_move_bps`	Counted move	0.5%	2%	20%	—
`dyn_divisor`	Liquidity divisor	2	100	10,000	—

Auto Burn

Key	Setting	Min	Default	Max	Rule
`burn_bps`	Burn share	0.01%	1%	10%	LP Rewards + Auto Burn ≤ 1,000 bps.

LP Rewards

Key	Setting	Min	Default	Max	Rule
`lp_bps`	LP fee on buys	0.01%	2%	10%	LP Rewards + Auto Burn ≤ 1,000 bps.

Creator royalty

Key	Setting	Min	Default	Max	Rule
`royalty_bps`	Royalty	0.01%	10%	10%	—

Caps PoolInit checks

Each cap is checked with every block at its maximum, and the swap clamps again at run time.

LP fees: base fee, Snipe tax, dynamic ceiling, Storm Fee to LPs, LP Rewards and the advisory LP surcharge together ≤ 600,000 pips (60%).
Quote takes: Auto Burn, the larger Swap Cut side, usage fee, reward slice, zap cut and minimum fee together ≤ 350,000 pips (35%).
LP Rewards plus Auto Burn ≤ 1,000 bps (10%).
Sell-side charges: Swap Cut sell, Exit Clock top, Storm ceiling and Sandwich maximum together ≤ 200,000 pips (20%).
Royalty ≤ 10% of LP Rewards after the protocol share.
At most one advisory block.

A set that breaks a cap fails with FeeRoomExceeded; a bad combination fails with BlockConflict; a setting out of bounds fails with InvalidParams.

Rules between blocks

Dynamic fees can’t share a pool with Storm Fee.
Creator royalty needs LP Rewards.
Holder Pot needs Sandwich Guard.
Storm Fee can’t share a pool with Dynamic fees.
King of the Pool needs Arb recapture.
Arb recapture can’t share a pool with Zap Relay target.
Zap Relay target can’t share a pool with Arb recapture, Dev buy and lock.