HOW IT WORKS
Every coin launched through Hourglass has a glass and a bank. The last buyer before the sand runs out takes 80% of the bank.
THE GLASS
A buy through the Hourglass program that spends at least 1% of the bank, minimum 0.05 SOL turns the glass: the clock goes back to 5:00 and the buyer becomes the last buyer. Smaller buys trade normally and do not touch the clock. The first counting buy opens the round; a dev buy of 0.05 SOL or more at launch opens round 1 with the dev as last buyer.
The program is a router on top of pump.fun and PumpSwap with no fee of its own. Any wallet, terminal or bot can call it as a plain instruction. Buys on other terminals still pay creator fee into the bank, but they do not turn the glass: only the program can see who bought last.
THE BANK
The coin's creator on pump.fun is the coin's own program account. Every lamport of creator fee it receives is split by constants in the program: 87% bank, 10% dev, 3% pad treasury. Anyone can also donate to a bank.
When the sand runs out anyone may call settle (the keeper does it at the deadline; the site does it in front of your buy). Settle collects every waiting fee first, then pays 80% of the bank to the last buyer, pushed straight to the wallet, and sends 20% to buy and burn the pad token. The bank is then zero: nothing carries over.
Hold what you bought. At settle the program checks the last buyer's token account still holds the tokens of the winning buy. If not, that 80% buys the coin itself back and burns it, in chunks over 30 minutes, behind a price guard.
NUMBERS
Parameters can change only for coins launched later, and only after a 24 hour timelock. Every coin keeps the numbers it launched with.
THE CLOCK
Deadlines are checked against the chain's own Clock, not your computer's. The countdown on the page follows that Clock; on mainnet it can lag a second or two. The round ends when the chain clock passes the deadline.
TRUST POINTS
- Nobody can move a bank anywhere but to the round's last buyer, the coin's own buyback and the pad token burn.
- The admin can pause new launches and donations, change parameters for future coins (24 h timelock), rotate the admin or treasury (3 day timelock), and pick the pad token once, publicly, 24 h before it applies. Buys and settles never stop.
- The keeper is a convenience: settle, fee collection and buybacks are open to anyone.
- Platform risks: pump.fun can change a coin's creator through its own admin paths; the programs are upgradeable.
- Game risk: in the last seconds, blocks can be crowded (the FOMO3D problem). A sole buyer when nobody watches takes 80% for 1% of the bank: anyone can outbid.