How JCv1 Works

JustCoin v1 (JCv1) is a fixed-rule token launch protocol on Solana.

When a creator launches a token, the following happens atomically in a single transaction:

1. A new mint is created with exactly 10,000,000 tokens (100,000,000,000 raw units at 4 decimals). 2. The full supply is minted to a vault account controlled by the launch PDA. 3. Metaplex metadata is written with isMutable=false and a locked update authority. 4. The mint authority is permanently closed. No more tokens can ever be created. 5. A launch state account records the creator address, vault, and running tokens_sold count.

After launch, buyers collect tokens at exactly 1 lamport per raw unit. The lamports go into the reserve (the PDA). Anyone can release tokens back at any time, receiving the exact reserve lamports back. No fee on release.

The contract has no admin keys, no upgrade authority on the token, and no mechanism for anyone — including the creator and JustCoinLab — to extract the reserve. The only way lamports leave the reserve is through the release mechanism, triggered by a token holder returning valid tokens.