The final price is set on-chain. Every trade goes in and out as SOL or ZEC through the $SAPLING/ZEC pool in one route; you never hold $SAPLING. Each transaction is simulated first and refused if it would cost more SOL than shown. Coins can go to zero.
Holder rewards: 0.80% of every trade paid in ZEC to holders, min $20 holding.
Permanent: nobody can change it.
Paid automatically when the pot is worth about $25, at most once an hour, to every wallet holding $20 or more at a snapshot taken at a random minute. Holders do nothing. A wallet with no ZEC account gets one with its first payout: about 0.002 SOL of rent, taken once from that payout. The account is yours. Each run's snapshot and every transfer are on Rings.
The liquidity share of every trade goes into $SAPLING/ZEC liquidity whose LP tokens are burned, so nobody can pull it. pump.fun takes its own protocol fee on top: 0.95% on the curve, 0.25% after graduation. None of it reaches Sapling. The split can change within the program's bounds: liquidity never below 0.50%, Sapling never above 0.40%.
Paired with SAPLING. Pay with SOL or ZEC, sell for SOL or ZEC: every trade goes through the $SAPLING/ZEC pool in one route, so you never hold $SAPLING. Its price and market cap are shown in ZEC.
2.00% creator fee, paid in $SAPLING and split: 0.50% burned in $SAPLING, 0.50% $SAPLING/ZEC liquidity, and 0.80% to holders and 0.20% Sapling, both turned into ZEC on chain.
On pump.fun the deployer's wallet shows as creator; the creator fee itself goes to Sapling's program (48L2…BD6E), which splits it on chain.
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