Lifecycle

A PNL market moves through a fixed set of states. The transitions are enforced on-chain by the Anchor program (C5mVE2BwSehWJNkNvhpsoepyKwZkvSLZx29bi4MzVj86).

State diagram

                          ┌──────────────────┐
              create ────▶│      LIVING      │  accepting votes
                          │  (state = 0)     │  time remaining
                          └────────┬─────────┘
                                   │
                                   │  expiry timestamp reached
                                   │  ↳ anyone calls `expire`  (permissionless)
                                   ▼
                          ┌──────────────────┐
                          │     EXPIRED      │  no more votes accepted
                          │  (state = 1)     │  awaiting resolution
                          └────────┬─────────┘
                                   │
                                   │  resolve_market or finalize_*
                                   │  (also permissionless via resolve_market)
                                   ▼
        ┌──────────────────────────┼──────────────────────────┐
        ▼                          ▼                          ▼
  ┌───────────┐             ┌───────────┐              ┌───────────┐
  │  BLOOMED  │             │ WITHERED  │              │ RETURNED  │
  │ YES wins  │             │ NO wins   │              │  Refund   │
  │ token     │             │ NO voters │              │ all       │
  │ launched  │             │ paid out  │              │ stakes    │
  │ on        │             │           │              │ returned  │
  │ pump.fun  │             │           │              │           │
  └───────────┘             └───────────┘              └───────────┘

State details

Living (state = 0)

• Market is open for staking. Anyone can vote YES or NO.
• Pool grows as votes accumulate. The AMM updates implied YES/NO probability live.
• The founder may call extend_market once the target pool is reached (moves the market to a Funding phase that accepts only YES votes).

Expired (state = 1)

• The expiry timestamp has passed.
• No more votes accepted; the pool is final.
• Anyone can call expire to move the market here. This is permissionless — you don't need to be the founder or the original voters.
• If the target pool was reached, the market is ready for resolution.
• If the target pool was NOT reached, refunds are now allowed.

Bloomed (resolution = YesWins)

The terminal happy state. YES had more pooled SOL than NO at expiry.

• 5% completion fee is taken from the pool.
• A token is created on pump.fun via cross-program invocation (CPI).
• 65% of the token supply distributes to YES voters proportional to their YES shares (claimable immediately via claim_yes).
• 33% vests to the founder team (8% immediate, 25% over 12 months).
• 2% to the platform PNL wallet.
• The founder also earns ongoing pump.fun creator royalties on trading.

Withered (resolution = NoWins)

The terminal "thanks for filtering" state. NO had more pooled SOL than YES.

• 5% completion fee is taken from the pool.
• 95% of the pool distributes to NO voters proportional to their NO shares (claimable via claim_no).
• No token is launched.
• The idea remains in the on-chain library as a permanent record.

Returned (resolution = Refund)

The terminal "stalemate" state. Either YES and NO were exactly tied, OR the pool failed to reach the target.

• No fees taken.
• All voters get their full stake back via refund.
• The idea remains in the library.

Who can do what

The fact that expire and resolve_market are permissionless means a market can never get "stuck" — anyone (including a future cron job) can crank it forward.