How Bullarea works

1. Submit a name — while the arena clock is running, any wallet can submit one token name, symbol and image. Max 9 user submissions per cycle (plus 1 system pick).
2. Vote — every wallet gets one vote per cycle. Submissions are frozen in the last 10 seconds.
3. Winner queued — the highest-voted name becomes a Pending Open token: a Token-2022 mint and a bonding-curve account, both ready but not yet deployed on chain.
4. First buyer opens the market — the first wallet to click Buy pays the on-chain rent + their opening trade in a single atomic transaction. That transaction creates the mint and seeds the curve. The platform pays zero deployment cost.
5. Trade on the curve — once live, anyone buys/sells on the bonding curve (price = constant-product x·y=k against virtual reserves) until the migration threshold is hit.
6. Migrate to Raydium— when the threshold is reached, the curve's real SOL + remaining tokens seed a permissionless Raydium CPMM pool. From there it's a normal AMM.

A Pending Open token is one that won its arenabut hasn't been traded yet. The mint address is reserved and visible, but the SPL mint and curve accounts only exist on-chain after the first buyer triggers deployment in their buy transaction.

• If no one trades within 28 minutesof winning, the token is auto-hidden from listings (the on-chain accounts were never created, so nothing is "wasted").
• Being the opener is rewarded with the first slot on the curve at the lowest price.
• Only one wallet can be in the middle of opening a given pending token at a time. A 30-second lock prevents two wallets from both signing an opening tx for the same mint.

Bullarea is transparent about every cent that leaves your wallet.

Bullarea does notcharge a creator fee, an "ape tax", a migration fee or any hidden percentage. The 0.8% trade fee and 0.8% transfer fee above are the only protocol-level cuts.

Each arena has its own graduation target — once the bonding curve's real SOL reserves reach it, the token automatically migrates to Raydium:

• Stampede (2 min cycles) — 100 SOL
• Charge (15 min cycles) — 150 SOL
• Marathon (1 hr cycles) — 300 SOL

A trade that crosses the threshold still executes in full — the curve may briefly hold slightly more than the threshold before the migration tx fires. This is normal and matches standard pump-style curves.

• Pending Open — won the arena, awaiting first buyer.
• Active — live on the bonding curve.
• Migrating — threshold hit, Raydium pool being seeded.
• Migrated — trade on Raydium from here on.