The launch lifecycle
- Launch — prepare token details and metadata, choose the trading fee and the creator/holder split, then approve the launch in Phantom.
- Trade — buyers and sellers trade the token against HYPE through its Meteora Dynamic Bonding Curve (DBC) pool. Every trade pays the pool's trading fee in HYPE.
- Settle — HYMET's keeper regularly moves collected fees into the distributor, which applies the split fixed at launch.
- Earn — creators claim their share, and holders with a holder share receive HYPE automatically when a payout round runs and they qualify.
- Graduate — when the curve holds its migration threshold, the pool migrates to Meteora DAMM v2. Liquidity is permanently locked and fees continue under the same split.
What the keeper does
The keeper is HYMET's automated server process. It runs about every 5 minutes and handles what no user transaction covers: settling fees, running holder payout rounds, migrating completed curves, and registering the resulting DAMM v2 pool.
The keeper's permissions are narrow. It can fund payout rounds from the holder pool and close them, but it cannot reach creator or HYMET funds, change a token's split, or remove locked liquidity.
Use verified information
HYMET combines confirmed chain state with its launch registry and available market sources. Market data may be delayed or unavailable. The interface labels missing values rather than filling them with estimates.
A visible listing is not, by itself, proof that a pool is active, a migration is complete, or a transaction is enabled. Check the token page and its linked on-chain records. Identify a token by its mint address, because names and tickers do not have to be unique.