Priced against the S&P 500. Slow is the whole point.
contract address at launchPriced in SPYx
Almost every memecoin is paired against SOL, and almost every one of them is trying to be the hare.
TORTOISE is quoted in SPYx, the tokenized S&P 500, so the asset backing the liquidity is the five hundred largest companies in America. Nobody has ever gotten rich quick on it. Almost everyone who held it got rich slowly.
When SOL drops, a SOL-paired pool loses backing at the same moment everything else is falling. An SPYx-paired pool is tied to something that has outlasted every crash anyone reading this has traded through.
At launch
Quoted in SPYx, with the creator fee set to 1.8%.
About 3.5 SOL of our own, bought straight off the curve at launch.
The 10% of TORTOISE from that buy gets paired against more of our own SPYx in a Raydium CPMM pool, constant product, on the 1% fee tier. A second book behind every trade, so the same sell moves price far less.
Then it repeats
Two sources. The creator fee on pump.fun trades, paid in SPYx. And trading fees on the Raydium pool, paid in SPYx or TORTOISE depending which side a trader sent in. Both land in the same wallet.
An AMM LP add needs equal dollar value of SPYx and TORTOISE, and fees never arrive that way. The excess gets traded into the short side until the two amounts match. Pump pays quote only, so SPYx is almost always the excess, which makes this a market buy of TORTOISE. On the rare day TORTOISE runs heavy, it sells instead.
After the rebalance both sides hold the same dollar value, which is what the AMM takes. They go in together, so the ratio is unchanged and the price doesn't move. Only the depth does.
Live
The pump.fun curve and the Raydium pool, read from chain.
Ledger
Every claim, rebalance and deposit, with its time, amount and transaction.
FAQ
We do, and it can be withdrawn. Check the ledger and the wallet, and judge the behaviour rather than the words.
A tokenized S&P 500 tracker on Solana, issued by Backed Finance as part of the xStocks line. Pairing against it is what makes TORTOISE a ratio to the index instead of to SOL.
The pump.fun curve is the main market and stays the main market. Pairing the dev buy against SPYx on Raydium straight away means there's a second book behind every trade from the first minute, and somewhere for fees to compound into.
A burn lifts the price and leaves the pool exactly as thin as it was. Adding puts the tokens back with matching SPYx, so the depth stays and the next seller gets a better price out of it.
Probably not. Most of these go to zero and this one has no product, no revenue and no plan beyond the pool getting deeper. Buy accordingly.