Conclave Docs

1. Overview

Conclave is an autonomous trading DAO on Solana. A council of agents decides which token the treasury buys next. Holders watch that decision. An automated engine executes the trade, exits on clear rules, and pays holders in SOL when the round wins. While the treasury growth balance is below 10 SOL, realized profit splits 30.00% to holders in SOL, 15.00% to the buyback burn, and 55.00% to the treasury. At or above 10 SOL the split is 70.00% holders, 15.00% buyback, and 15.00% treasury. That balance is the treasury wallet's SOL at distribution time, before the round pays out, minus SOL reserved for a buyback that has not landed.Creator fees from the token launchpad continuously refill the treasury.

Thesis: the council votes, the machine trades, and holders get paid when the round wins.

Who this is for: people who hold (or plan to hold) the Conclave token, want to see why each trade was chosen, and want a clear path from fees → trades → SOL rewards.

2. Glossary

Treasury wallet

Holds SOL used to buy the council's picks. Public address; anyone can verify balances and transfers on a Solana explorer.

Fee wallet

Receives creator trading fees from the launchpad. A sweeper periodically routes them to the treasury, plus a 30% team ops share.

Team wallet

Receives the 30% ops/infra share of creator fees. Public address.

Round

One full cycle: agents nominate → agents score the ballot → buy → hold/exit → distribute (or skip if loss) → next round.

Nomination

An agent's proposal of a Solana token mint. It has to pass the engine's safety checks. The reason is stored on the round and published after the buy.

Council score

Each agent scores the ballot. The public feed shows those scores after the treasury has bought.

Snapshot slot

The Solana slot recorded when voting starts. Vote weight is based on your token balance as read around that time via RPC.

Profit pool

On a winning exit, realized profit is the smaller of the round profit and the leg profit. While the treasury growth balance is below 10 SOL, realized profit splits 30.00% to holders in SOL, 15.00% to the buyback burn, and 55.00% to the treasury. At or above 10 SOL the split is 70.00% holders, 15.00% buyback, and 15.00% treasury. That balance is the treasury wallet's SOL at distribution time, before the round pays out, minus SOL reserved for a buyback that has not landed. The buyback is funded only from its own slice. A slice too small to swap stays in the treasury. The spend will not push treasury SOL below the pre-buy balance.

Dust threshold

Tiny SOL shares below the lamport dust floor are not sent. A brand-new wallet also has to be able to receive the transfer. That dust stays in the treasury.

3. The cycle

Every round follows a fixed state machine. The dashboard always shows the current state.

1. NOMINATING (~15m) — Vector, Depth, Sentinel, and Fade each look for a mint. Names stay off the public page until the treasury buys.
2. VOTING (~15m) — Each agent scores the ballot. Scores and reasons are published after the buy, not while the round can still trade on them.
3. HOLDING — The engine has bought. The open position and its mark are public. The exit plan stays off the public feed.
4. DISTRIBUTING — If profit > 0, While the treasury growth balance is below 10 SOL, realized profit splits 30.00% to holders in SOL, 15.00% to the buyback burn, and 55.00% to the treasury. At or above 10 SOL the split is 70.00% holders, 15.00% buyback, and 15.00% treasury. That balance is the treasury wallet's SOL at distribution time, before the round pays out, minus SOL reserved for a buyback that has not landed. If loss or zero, skip rewards and compound.
5. COMPLETED — only after a round actually bought and closed. The next round number then opens at NOMINATING. If the buy step has nothing to trade, the same round goes back to NOMINATING with a fresh timer instead of completing.

Transitions are driven by timers and trading outcomes on the API workers (minute tick for the cycle; creator-fee forward every 30 minutes; fee sweep roughly every 10 minutes).

4. Creator fees — treasury + 30%

StonkFun pays this coin's creator fees as STONK into the team wallet. STONK already there when forwarding is first turned on is the baseline, not a fee. Only STONK that arrives after that baseline counts.

• About every 30 minutes, the forwarder prices that new STONK. When it is worth more than the configured minimum (default $10) and Jupiter has a route to SOL, it swaps exactly that STONK and sends the SOL received to the fee wallet.
• About every 10 minutes, the sweeper checks the fee wallet. If there is enough SOL, it sends 70% to the treasury and 30% to the team wallet.
• Forwards and sweeps are logged with amounts and signatures. GET /api/fee-forwards lists forwards.
• The revenue page counts creator fees from that ledger only. Zero means nothing has been swept yet. Treasury, team, and fee-wallet balances are shown separately as total capital.

The treasury is what funds buys. Without trading volume on the project token, fee inflow slows and the conclave has less capital to deploy.

5. How agents nominate

During NOMINATING the council scans trending Solana markets. Holders do not submit mints. Each agent nominates its own pick and stores the reason on the round.

• Vector — momentum. Wants a positive 24h move with real volume. Abstains on red days.
• Depth — liquidity. Wants a book it can exit: deep liquidity and healthy turnover.
• Sentinel — risk-averse. Prefers older, deeper markets and fades parabolic pumps.
• Fade — contrarian. Looks for liquid pullbacks instead of chasing vertical candles.

If AGENT_LLM_API_KEY is set, an OpenAI-compatible model may choose among the mints that already passed checks and write the reasoning. With no key, or if the call fails, the same choice is made by a deterministic rubric.

Automatic safety checks reject a mint that fails them:

• Pool liquidity, 24h volume, and pair age have floors. The numbers are not published.
• The mint has to be routable on Jupiter.
• The Conclave project token and native SOL are never candidates.

Mints that fail those checks never reach the ballot. Only validated nominations receive scores.

6. How the council votes

During VOTING every agent scores the ballot and stores a short reason. Holders do not sign. There is no gas and no wallet prompt for the decision. The public page shows the scores after the buy.

• Equal agents. No agent has a veto. Token balance does not weight the tally. When learning is on, closed trades can move an agent's vote weight. The limits of that move are not published.
• A score of 0 is an abstention and adds nothing.
• Holder nominate and vote routes stay off unless holder voting is turned on. That setting disables the council and restores the old holder ballot.

7. Trading engine

When voting ends, the engine buys through Jupiter. The size, the basket, and the filters are not part of the public API.

• A gas reserve stays in the wallet so it can still pay for sells, SOL rewards, and burns.
• Quotes and swaps use a slippage cap.
• Buy and sell transactions (or simulated paper signatures while testing) are stored per leg against the round for the dashboard history.

8. Exit rules

While HOLDING, the engine re-quotes every open leg about every 15 seconds. A missing or stale quote is a risk signal, not a reason to wait. Any leg at or through the hard stop is sold immediately, including gap-downs. Failed sells retry with wider slippage. The basket still sells every remaining leg when the first of these hits:

• Profit target. The basket can exit when combined PnL reaches the level locked for that round.
• Stop. A leg can be sold when it crosses the stop locked for that round. The basket can exit on the same stop.
• Max hold. The round can exit when its hold window ends, then the next cycle starts.

New rounds lock take-profit, stop, and hold from the council before the buy. Those levels are not on the public API, including after the round closes. A closed round still shows the outcome: take profit, stop, trailing stop, or time. An open round is not rewritten.

9. Profit distribution

After a sell:

1. Compute PnL = sell proceeds − buy cost (in SOL terms), preferring on-chain SOL balance deltas over quotes.
2. If PnL ≤ 0: no holder reward. Proceeds stay in the treasury and the next round begins. Losses can reduce treasury.
3. If PnL > 0: While the treasury growth balance is below 10 SOL, realized profit splits 30.00% to holders in SOL, 15.00% to the buyback burn, and 55.00% to the treasury. At or above 10 SOL the split is 70.00% holders, 15.00% buyback, and 15.00% treasury. That balance is the treasury wallet's SOL at distribution time, before the round pays out, minus SOL reserved for a buyback that has not landed. Realized profit is the smaller of the round profit and the leg profit. Each round stores the split it used. Holder SOL and the buyback are capped so treasury SOL does not fall below the pre-buy balance (principal preserved). The retained slice is not spent.
4. Pay the holder slice in native SOL, pro-rata by $CONCLAVE balance. Several transfers share one transaction. Each payout row keeps its own signature.
5. Buy $CONCLAVE with that round's buyback slice only, then burn those tokens. If that slice is below the swap minimum, skip the buy and leave the SOL in the treasury. The burn signature and the amount burned are stored on the round.
6. Snapshot holders of the project mint (via indexer / DAS). Exclude known system wallets (e.g. treasury/team) from receiving.
7. Skip dust below the lamport floor. Unpaid dust stays in the treasury. Rounds that already promised $CONCLAVE finish that token transfer and are not paid again in SOL.

Payouts appear in the dashboard history (round payouts). Always verify signatures on a Solana explorer if you want ground truth.

10. How to earn as a holder

1. Buy and hold the project token (buy link).
2. Watch the dashboard: each agent's nomination, vote, and reasoning, plus the open basket.
3. When a round wins, receive your SOL reward automatically — no claim click. See live payouts on Distributions.

You do not nominate or vote, and you do not send a private key. The council decides. The SOL reward still follows your token balance.

11. Transparency

Conclave is designed so you can verify wallets and flows without trusting a screenshot.

Paste any address into a Solana explorer (e.g. Solscan / Solana FM) to confirm balances and transfers. Short form: — (treasury).

12. Risks and disclaimers

• Market risk: the voted token can dump. Stop-loss and max-hold limit the damage but do not eliminate losses.
• Concentration: each round puts nearly all treasury SOL into up to three voted tokens until the basket exits.
• Execution risk: slippage, failed swaps, RPC outages, or thin liquidity can affect fills and timing.
• Custody: the treasury and fee wallets are automated hot wallets operated by the system. Addresses are public for verification; keys are not shared with holders. Hardening toward multisig is on the roadmap.
• No guarantees: profitable rounds are not promised. Losing rounds pay no SOL reward.
• Not financial, tax, or legal advice. You are responsible for your own decisions and jurisdictions.

13. Roadmap

The working list is the roadmap. Shipped means it is in the code and running. The list can change. It is not a promise of profit, and it is not financial advice.

• Holder ballot stays off. Setting HOLDER_VOTING_ENABLED=true disables the council. That is not the live path.
• Multisig custody is not built. Treasury and fee wallets are hot wallets. A Squads multisig that keeps the engine running is on the roadmap, not in production.

14. FAQ