p/
Monero has no smart contracts, no token standard and no programmable bonding curves. p/ builds around that limitation instead of abstracting it away. A p/ coin has two sides: a normal token on pump.fun, where it trades like anything else on Solana, and a dedicated Monero curve wallet whose confirmed transactions are the coin's reserve and its accounting.
XMR entering that wallet becomes an input to a fixed constant-product curve. Confirmed transactions are ordered by the Monero chain, turned into curve state with integer arithmetic, and folded into a hash-chained registry of reserves, positions, supply and the current root. The XMR is not wrapped, bridged or pegged. It remains native XMR inside a Monero wallet.
“Instead of asking a smart contract what happened, you derive what happened.”
The curve wallet publishes its private view key. Registry roots are committed back into Monero transactions. Reserve proofs show the wallet holds what the registry says. The whole thing can be rebuilt from genesis by scanning Monero and replaying the same rules.
The coins
Each one has its own curve wallet, its own registry and its own root.
How a coin works
four moves, all of them Monero transactionsBuy: send XMR
Give the coin page the Monero address your tokens should be paid to. It hands you an integrated address of the curve wallet whose payment id is a hash of that address. Send any amount of XMR from any Monero wallet. Ten confirmations later the registry credits your position at the price the curve had when your transaction landed.
The registry folds
Every confirmed transfer into the wallet is an event. Events are ordered by block and hashed into a root. Buys in the same block go in order of transaction hash, fixed by the chain and visible to every node. Nothing fires on a clock.
Sell: sign a message
Your wallet signs one line naming your address, the amount and the registry height. No key leaves your wallet. The curve pays XMR back to your address, less the 1% fee and the network fee, and the payout carries a transaction key you can check.
Anchors and proofs
After events, the curve wallet pays itself a small transaction whose payment id is the registry root, and publishes a reserve proof for the balance it holds. The chain then carries both the inputs and the operator's claim about them.
What p/ is
The goal was never to put a fake version of Monero on another chain. It was to make Monero itself part of the machinery behind a token market while keeping native XMR settlement underneath. Solana is where the coin exists as a normal programmable asset. XMR is what gives it its reserve.
The first coin is p/xmr. Anyone can launch the next one: launch.html creates the pump.fun token from your wallet and a fresh curve wallet on the server, and publishes the view key in the same minute.