Moon Bundler for Solana
Token Distribution Solution for the Solana Blockchain
Introduction
After the crypto boom the solana blockchain became one of the most popular ecosystems in the defi space, mainly because of its extremely fast transactions, smart contract flexibility and development opportunities. One of the biggest platforms to arrise in the community was a website called pump.fun a platform for managing and launching ERC20 tokens on the Solana Blockchain. pump.fun grew very quickly and since has generated over $500 million in revenue mainly collecting from the costs of token minting and trading fees. Some of the biggest tokens to be launched from the platform where Peanut the Squirrel (PNUT) with a market cap of $347 million and Moo Deng (MOODENG) with a market cap of $260 million
The Evolution of Token Creation
As the pump.fun platform grew the space evolved and developed new strategies and methods to making tokens, More advanced platforms like Bullx and Proton (trading platforms used to buy and sell "memecoins") where released that allowed traders to utilize much more advanced metrics to analyse tokens being launched, this caused token creators (also known as devs) to innovate and develop new ways to create tokens!
The Solution
Moon bundler was an application I developed for token creators, This allowed tokens creators to spread their supply of a created token over multiple wallets therefor hiding their true position from everyone else invested in the coin. Large token holders was usually a "red flag" for potential traders and signified that a single person held a large supply of a token and therefor could manipulate price and cause extensive price movement themselfs. By Moon Bundler allowing people to spread their supply of Tokens over multiple wallets it allowed mass holders to hide their true position allowing for more potential investment. Users could then sell across their seperate wallets either individually or all at once whenever they needed to
Technologies Used
Moon Bundler used/interacted with many different technologies mainly using the solana/web3.js library for managing and creating accounts, handling funding of the accounts, building the cryptographic transactions and signatures for buying, selling and creating ERC20 tokens. JITO is a company that hosts a multitude of functions for developers in the Solana ecosystem, in this project I used their api to submit signatures of transactions I had created in a "bundle" using their bundle api, this meant that multiple transactions could be atomically sent in the same block by utilising Jitos own validators.
The importance of Jito's atomic sequential bundles was paramount for the project as when a developer made their coin they would buy the coin across multiple wallets instantly, this meant that they had to avoid subsequent automated bots from buying the coin before any of their wallets upon creation. All signatures submitted in a bundle are executed in the same block that the coin was made which allowed me to fulfill this functionality!