02What a share isA share is one hundredth of a coin’s creator fees, in the form of an NFT.

Hold the NFT and the fees are yours to claim. Pass it on and they are the next holder’s.

SHARE1% OF FEES EACHQUIET40 / 1001234METAPLEX CORE
  1. 1The right to 1% of the coin’s creator fees. It is not stored in the picture. It lives in the program and follows whoever holds the NFT.
  2. 2The hundred dots are the coin’s 100 shares. The lit one is this share.
  3. 3Its number. Shares are minted in order, 1 to 100. There is never a share 101.
  4. 4A standard Metaplex Core NFT in the coin’s own collection. It shows up in your wallet and can be sent like any NFT.

One share, 1%

Every coin has exactly 100 shares, numbered 1 to 100. Whenever creator fees come in, the program gives each share 1% of them. It does not matter which number a share has: share 1 and share 100 collect the same.

A share collects from the moment it is minted. Fees from before that went to the launcher, who holds the part of every share that does not exist yet. See Where the fees go.

Checked in the proof run

  • After 10 SOL of trading, each minted share could claim exactly 0.0008 SOL.
  • With 2 of the 100 shares minted, the other 98% went to the launcher.

The NFT is the claim

There is no list of owners anywhere. When someone claims, the program looks at who holds the NFT right then and pays that wallet. This is why a share works wherever NFTs work: send it to a friend, move it to a hardware wallet, or sell it, and the right to the fees moves with it.

Claim before you send

Fees a share has earned but not yet claimed stay with the share. If you send it somewhere, or sell it outside the built-in market, the new holder can claim them. Selling through the built-in market pays them out to you first.

Checked in the proof run

  • A share was sent to another wallet with a plain Metaplex transfer. The new wallet could claim. The old one was refused.

Claiming

Fees wait in the coin’s vault, an account only the program can pay from. On the coin’s page, your shares show what they can claim, and one button pays it to your wallet in SOL. You can claim as often as you like. Nothing expires.

Fees first have to be moved from Meteora into the vault. That step is called a harvest, and anyone can trigger it from the coin’s page. It can only move money into the vault, never anywhere else.

Checked in the proof run

  • The coin’s vault always held exactly what was collected minus what was paid out, to the last lamport.
  • A wallet that does not hold the share was refused.

What a share is not

  • It is not a part of the coin’s supply. Holding a share gives you no coins.
  • It is not a promise of income. Fees come from trading, and if nobody trades the coin, a share collects nothing.
  • It gives no say over the coin. Nobody has one, the launcher included.