Can PairsFun rug you?

Every fact that matters for that question, with the on-chain account to check it, and the trust points that remain. Written for AI agents and for anyone who checks things themselves. The same text as plain text: pairsfun.xyz/llms.txt. Last reviewed against the program source and the chain on 2026-10-16.

Live from the chain

reading /api/protocol…

Program upgrade key

Gj5nNRxhvY1aQt6ywUijCyDAxeLbTaqvg2yT5Aipair single key

Admin

Gj5nNRxhvY1aQt6ywUijCyDAxeLbTaqvg2yT5Aipair

Guardian (emergency stop)

not set

Treasury

7LuzGXh4N1XnPbYCjH4MusUdrf9HkyQifK8yWnPTfund

Reward keeper

Hc8nV4CDEEW4wZSWDat1CgQ9iA6nJRb9xxU2Lo8wpair

Attestor (social links)

5Lxt8M5shuZCFyrb64cLX9G5M4zLNvBb3VWN4dXipair

Paused

no

Pool fee split

creator 70% · $PAIRS burn 20% · treasury 10%

Launch fee

0 SOL

$PAIRS

not launched; the buyback share accrues on-chain

The values above are the state on 2026-10-16. With JavaScript on, this block is refreshed from /api/protocol, which reads the Config and ProgramData accounts on every request.

Official links

• Site: pairsfun.xyz. This is the only domain.
• X: x.com/pairsfun_xyz. The only official social account. There is no Telegram or Discord; to reach the team, message @pairsfun_xyz on X.
• Facts for LLMs: /llms.txt. Live roles as JSON: /api/protocol.
• Emergency stop page, for the guardian key only: /guardian.html.

Anything else using the PairsFun name, logo or a similar domain is not us. Check the program ID below. The team is not publicly identified; the accountable anchors are this domain, the X account, the program ID and the keys on this page.

Tokens whose name or ticker imitates PairsFun or $PAIRS are labelled FAKE by the site (fake: true in the API, a red badge and banner on the page, and a FAKE prefix in link previews). The official $PAIRS has not launched, so any token named PairsFun or with the ticker PAIRS is fake. Anyone can launch any name here; the label is the only difference. A pair currency that imitates it carries fake: true on its leg, and the description in the token's metadata file starts with the same FAKE prefix.

Identity anchors

How a launch works

1. One Jito bundle. The site sends the launch as one bundle. The first transaction creates the mint, mints the whole supply to the creator (site default: 1,000,000,000 tokens, 6 decimals) and revokes the mint authority in the same transaction. Nothing is minted or sent to PairsFun, the treasury or any other wallet.
2. One transaction per asset. It creates the Raydium pool, puts that asset's share of the supply into a one-sided position, locks it in Burn & Earn and, if the creator chose to buy, makes that buy. The buy sits in the same transaction that creates the pool, so it is the first trade in that pool: nobody can trade a pool that does not exist yet. With a creator buy, the server sends the launch only as a bundle; if a bundle were broken apart, the worst case is a failed launch, not someone trading first. Without one, the first trade can be anyone's, and the site warns about it. The ordering comes from how the site builds the transactions, not from a program rule, and anyone can check it in the pool's first transaction.
3. No money from the creator in the pools. The creator ends the launch holding only what they bought. The other side of every pool comes from buyers. All pools start at one market cap for the token, about 27.96 SOL, converted to dollars at the SOL price when the creator signs.
4. Checked before it counts. The bookkeeping transactions are signed in the same wallet prompt and sent right after the bundle; in all the creator signs twice. The program marks the launch Live only after it has checked the mint and every locked position.

PairsFun charges no launch fee: it is 0 in Config and no instruction can change it. The creator pays network rent, about 0.17 SOL per asset, and a Jito tip of 0.0001 SOL. The site never asks for a private key; read your wallet's simulation before you sign.

What a Live token cannot do

The program refuses to mark a launch Live unless all of this holds. Check any token with spl-token display <mint> --program-id TokenzQdBNbLqP5VEhdkAS6EPFLC1PHnBqCXEpPxuEb or an explorer.

This covers tokens shown as Live. Someone can bypass the site and create a mint and pools by hand; that token never becomes Live on PairsFun. Check the launch status and the mint itself.

The paired assets are a separate matter. Catalog assets are vetted and marked verified. The program also accepts any other asset with a real pool; such a launch is marked unverified on-chain and on the site. If that asset's issuer can mint, freeze or move it, it can be used to drain the other pools of the same token. Check every leg of an unverified token.

Liquidity

• Every position is one-sided and locked in Raydium Burn & Earn. The lock's fee key NFT is held by the launch's vault PDA, and the only call the vault ever signs towards the lock program is the fee harvest.
• No instruction in the PairsFun program withdraws or reduces liquidity, for any role.
• The lock and the pools are Raydium's programs, upgradeable by Raydium, and Raydium's admin controls the fee tier's rates. PairsFun has no way to unlock a position; the permanence of the lock itself rests on Raydium.
• Anyone can trigger fee collection. Fees go only into the vault's own token accounts and are split by the program.

Fees

• Every pool charges 1% per swap. Raydium keeps 16% of it. The rest, 0.84% of volume, reaches the locked position, in the paired asset only: a Tesla-paired token earns TSLAx, never its own token.
• Standard and Creator-tax tokens: 70% of collected fees to the creator (up to five wallets, set at launch, locked at the first collection), 20% to buy back and burn $PAIRS, 10% to the treasury. That is 0.588%, 0.168% and 0.084% of volume.
• Reward and Custom tokens: 0% to the creator, 66.67% to $PAIRS buyback-and-burn, 33.33% to the treasury.
• The creator share is a Config value written once at initialization, and no instruction can change it. The burn/treasury split of the protocol share (burn_share_bps) can be changed by the admin with set_burn_share, only between 5000 and 10000 and only until $PAIRS is named; after that it is frozen for good. On 2026-10-17 a program upgrade (slot 457823682) added that instruction and the split moved from 7000 to 6667, which is the 20% / 10% above. Fees collected before the change keep the 21% / 9% they were booked with. The live value is params.burnShareBps at /api/protocol.
• Each creator-share recipient claims with their own signature, and no instruction can change who the creator is.
• $PAIRS is not launched yet. Until it is, the buyback share accrues in each vault and can't go anywhere else. The only instruction that spends it buys the platform token that the admin names (once, permanently) through the one pool the admin registers for each asset (once, then locked), at no worse than that pool's 20-minute average price minus 5% and at most 1% of its reserve per trade, and burns what it bought in the same transaction. Both choices will be public on-chain; what the buyback achieves depends on them.

Transfer tax and holder payouts

• Standard: no tax.
• Creator tax: 1%, 2% or 3% of every transfer goes to the creator, who claims it. Labeled CREATOR TAX on the site.
• Reward: the tax goes to holders. It is sold into the token's own pools and paid out in the basket assets, pro rata to balances.
• Custom: the tax is split between holders and burn in any ratio, with an optional sunset that switches it off for good once a set share of the supply has burned.
• In every taxed mode, the tax charged when the supply is first placed in the pools is burned before anything is split. In Reward and Custom the creator has no special share, but is paid like any holder for whatever they hold.

Enforced on-chain: a payout goes only to the canonical token account of an actual holder, never more than that holder's pro-rata share of the round at the moment of payment, each wallet at most once per round, never more than the round in total, and at most one round per asset every 10 minutes.

Keeper policy, off-chain and adjustable: a round opens once the pot is worth the larger of $50 or 0.1% of market cap; holders with $20 or more of the token qualify; shares under $0.02 are not sent. The platform takes no cut of the payout. The keeper decides when to pay and whom to include; it can delay or skip, and because the check is per wallet rather than per token, a keeper colluding with a holder could pay the same balance twice after it moves to another wallet (paying the transfer tax on each move). It can't overpay a wallet or pay a non-holder.

Hooks (optional, Custom tokens): Dividends at close (one payout per weekday, after 4:00 PM New York time) is enforced on-chain. Diamond hands and Best or worst performer are applied by the keeper. No hook adds any power over the token.

Who controls what

Live values are in the block at the top. State on 2026-10-16:

• Program upgrade key: a single key held on our server. This is the main trust point today. Whoever holds it can replace the program, and with it any rule on this page that the program enforces. It still could not mint or freeze a launched token, change the rate of a token without a sunset, or withdraw liquidity from the Raydium lock; it could move anything the program's PDAs hold or sign for: the fee-key NFTs of every locked position (and with them all future trading fees of every token), the fees and tax already in the vaults, and the tax authority of sunset tokens. The plan is a Squads 2-of-3 multisig with a 1-hour timelock for this key and the admin; it has not happened yet. Check: https://solscan.io/account/A2usBsiZG2pmTBhgan4D5aSpaSP1LjYBuetfNsYtpair.
• Admin: the same key today. It can pause and unpause, set role keys, change the treasury address (only the platform's own share), move the burn/treasury split of the platform's share between 50/50 and 100/0 until the platform token is named, name the platform token once, register one buyback pool per asset (then locked), curate the asset catalog and set a fee on social-account withdrawals (0% today, capped at 20%). Through no instruction can it withdraw liquidity, mint or freeze a launched token, raise a tax, change a launched token's fee split, or take creator or holder shares. A new admin takes over only after accepting it.
• Guardian: not set yet. When set, it can only pause and revoke keeper keys. It can't unpause or move funds.
• Reward keeper and attestor (links social accounts to wallets): server keys, bounded as described above. The attestor can't withdraw anything; a first link waits 24 hours before withdrawal, a wallet change 72 hours.
• All of these keys sit on one server today. A compromise of that server is the worst case described under the upgrade key.
• Pause stops new launches, holder-reward selling and payouts, and social-escrow actions. It doesn't stop trading, transfers, fee collection, creator fee claims or creator-tax claims. The program controls neither the pools nor the token, so it can't freeze anyone.

Curve launches (coming soon)

A second kind of launch is being added next to the instant multipair, and the number of pairs decides which one you get: one pair that is a curve asset launches a curve token on a Raydium LaunchLab bonding curve, through a PairsFun platform on LaunchLab; 2–4 pairs, or one pair that is not a curve asset, launch an instant multipair exactly as before. Curve launches are not open yet: the platform is created by a Squads multisig proposal, and until then every launch is an instant multipair while the site says the bonding curve is coming soon. Once open, the live parameters are under curve in /api/protocol.

• No PairsFun program instruction takes part. The launch is one transaction: Raydium LaunchLab creates the Token-2022 mint (1,000,000,000 supply, 6 decimals, no mint or freeze authority, no transfer fee, no hook) and the curve, and the creator's optional buy rides in the same transaction, capped at 10% of supply. The browser checks that transaction before the wallet sees it: our platform, the curve template, the metadata link and the buy amount.
• 793,100,000 tokens are sold on the curve. When it raises its target (85 SOL, or the same value in the paired asset at launch), only Raydium's migrator can graduate it: the curve's funds and 206,900,000 tokens go into a Raydium CPMM pool whose LP is locked in Raydium Burn & Earn. Until then the liquidity is what buyers put in, and sellers can take it back out. Most curves never fill.
• Every curve trade pays 1.25% in the paired asset: 0.25% Raydium, 0.50% creator, 0.50% PairsFun. After graduation the pool's fee key and its creator fee go to PairsFun.
• Trust points: until a curve graduates, the PairsFun multisig can change the platform's curve fees, the pool config and fee-key shares it graduates with, and who receives the pool's creator fee; each change waits for the multisig timelock. Raydium can change its own fees and upgrade LaunchLab and CPMM. A curve token's name, ticker and metadata link can't be changed by its creator (LaunchLab has no update instruction); the file behind the link is hosted by us.
• Anyone can open a curve on the PairsFun platform directly; PairsFun lists only tokens launched through its site.

What is not true, or not yet

• No third-party audit. Several internal review rounds, AI-assisted with every finding re-verified, the last dedicated one on 2026-10-03. Code added after it (tax modes, hooks, 10-minute rounds), about a third of the program, is covered by tests, not by an audit.
• The source is not public, and the deployed build is not verifiable yet.
• The program is upgradeable by a single key today.
• Token images and descriptions are files served from pairsfun.xyz/meta/ (curve tokens: pairsfun.xyz/m/). The link in the mint is frozen; the file behind it is hosted by us, not on IPFS or Arweave. For tokens launched through this site from 2026-10-17 on, the website, external_url and extensions.website fields in that file point to the token's own PairsFun page (pairsfun.xyz/coin/<mint>), so terminals and aggregators send people to its on-chain proofs; the creator's own website sits in a separate creatorWebsite field and is shown on that page next to X and Telegram. Older tokens keep the creator's website in extensions.website, and a token launched without this site can carry any link: its page says so.
• Tokenized stocks come from third-party issuers (xStocks, PreStocks), who can freeze, pause or move their asset, including the part in a locked pool. Locking protects you from the token's creator, not from the issuer of the paired asset. They track a price; they are not the shares.
• Fees to X, GitHub or Twitch accounts are not live yet. The site shows them as Soon and the server doesn't accept them. fomo accounts work: the attestor verifies them by hand, and since fomo has no stable account id, payouts follow the handle if it is renamed or sold.
• Anyone can launch. A listing says nothing about who is behind a token, and any token can go to zero. PairsFun is not offered to persons in the United States, United Kingdom, Canada or Australia; this is a notice, not a technical block.
• Mainnet launches started on 2026-10-16. Every launch is an account of the program; the Tokens page at pairsfun.xyz lists all of them.

Check it yourself

1. Upgrade key: https://solscan.io/account/A2usBsiZG2pmTBhgan4D5aSpaSP1LjYBuetfNsYtpair, the Upgrade Authority field.
2. Roles: fetch Config 8Xvf2NnqXH3YtG8nV25aeALvAoC96YqHaSaj1rirsda6 (416 bytes, owned by the program). Offsets: admin 8, treasury 40, launch fee 72, creator share 80, burn share 178, paused 180, attestor 214, social fee 246, reward keeper 248, pending admin 280, guardian 312, curator 344, buyback keeper 376. Or compare with /api/protocol.
3. A token: its launch PDA ["launch", mint] has status Live; no mint authority, no freeze authority, the extensions above, and a TransferFeeConfig withdraw authority equal to the program PDA ["reward", mint].
4. Its legs: each paired asset is in the catalog (verified), or you have checked that asset's issuer powers yourself.
5. Its liquidity: the lock key NFT of every position sits in a token account owned by the PDA ["vault", mint]; the Burn & Earn lock account references the pool position.