How Tranche
works.
One Solana program for OTC deals on coins. Teams and holders turn supply or creator fees into NFTs, and sell them in one atomic swap.
Overview
When a team sells part of its supply on the market, everyone sees the candle. Tranche moves that sale off the chart: the tokens stay locked in a vault, the buyer gets an NFT that holds them, and SOL goes to the seller in the same transaction. Nothing is sold into the pool.
There are two kinds of tranche. Allocation NFTs hold an amount of a token with a cliff and a vesting schedule. Fee NFTs hold a share of a pump.fun coin's creator fees and pay SOL on every trade. Both live on one program and both settle in one swap.
Allocation NFTs
A wallet that holds a token picks an amount, a cliff and a linear vesting, and mints an allocation NFT. The tokens move into a vault owned by the program and tied to that NFT. It can list the NFT for SOL in the same step.
- Nothing unlocks before the cliff. After it, tokens unlock every second to whoever holds the NFT.
- The holder claims unlocked tokens whenever they want.
- Sell the NFT halfway and the buyer picks up the rest of the schedule. This is liquid vesting.
- Works with SPL tokens and Token-2022 tokens, which covers every new pump.fun coin.
Team check
When a deal is listed, the minting wallet is compared with the coin itself: its pump.fun creator, its mint authority and its metadata update authority. A match shows Team on the listing. Anyone else shows Holder.
Fee NFTs
Every pump.fun trade pays the coin's creator a fee. With pump.fun's fee split, the creator points 100% of that fee at the coin's Tranche vault. The vault is divided into 1,000,000 shares, and any number of shares can be wrapped into a fee NFT.
- Each trade's fee accrues to the vault; each NFT claims its share in SOL.
- 10% of the shares is 10% of every fee, for as long as the coin trades.
- The creator keeps earning on the shares it doesn't sell.
- An NFT can be listed for SOL, or held to keep claiming.
Only pump.fun's own admins can redirect a coin's fees, in a community takeover. That risk is listed below.
Fees and staking
| Who | Pays |
|---|---|
| Seller, no stake | 1% of the SOL |
| Seller with 1M $TRANCHE staked | 0.5% |
| Seller with 10M $TRANCHE staked | 0.25% |
| Buyer | Nothing beyond network fees |
The fee is taken in the same transaction as the sale. 100% of it lands in one program vault and is paid out in SOL to everyone staking $TRANCHE, pro rata. There are no token emissions. A stake counts for the lower seller fee once it is a day old.
Safety
- Program-owned vaults. Locked tokens move only by the program's rules, and only to the NFT's holder. Nobody, including the Tranche team, can withdraw them.
- Atomic settlement. SOL to the seller and the NFT to the buyer happen in one transaction, or nothing moves.
- Token filter. The program reads the mint when a deal is listed and refuses transfer fees, transfer hooks, permanent delegates, pausable and non-transferable mints, and accounts frozen by default.
API
Everything on this site comes from an open JSON API. No key, no signup, CORS open.
| Route | Returns |
|---|---|
GET /api/nfts | Every tranche. Filters: listed=1, kind=allocation|fee|buyback, token=<mint>, owner=<wallet> |
GET /api/nft/<mint> | One NFT: what it holds, vesting, price, seller, team flag |
GET /api/token/<mint> | Token check: authorities, extensions, refused reasons, pump.fun curve, team wallets. Add ?wallet= for the team check |
GET /api/totals | Counts, listed, fills and SOL volume |
GET /api/board | Latest deals, as on the departures board |
GET /api/activity | The last 100 program events |
GET /api/stake/stats | SOL paid to stakers, $TRANCHE staked, stakers |
curl "https://tranchetrade.xyz/api/nfts?listed=1&kind=allocation"
Program
Its Anchor IDL is public: tranche.json. Every instruction, account and event, so you can build deals from your own code.
Risks
- Tokens can lose all their value. A vested tranche of a coin that goes to zero is worth zero.
- Fee NFTs only pay while the coin trades, and pump.fun's admins can redirect a coin's creator fees in a community takeover.
- Smart contracts can have bugs. Only put in what you can afford to lose.
- A Team badge means the wallet matches the coin's authorities, not that the team is trustworthy.
Terms
Tranche is open-source software that runs on Solana. Using it means signing transactions with your own wallet; nobody can reverse them. Nothing on this site is financial advice. You are responsible for following the laws where you live.