# StonkFun: what it is, the reward tax, the treasury, and the risks Updated Oct 6, 2026. Source: https://trenchbook.app/topic/stonkfun StonkFun is a Solana launchpad where a coin can be paired with almost any token, from SOL to tokenized stocks, and most of its coins pay a 1% or 3% transfer tax out to holders. About 60% of its revenue buys back and burns its token, STONK. Part of the reward tax went to team wallets until 20 September 2026 ([our check](/dispatch/stonk-reward-tax)), and about $10.9 million in USDC now sits in two holding wallets partly fed by StonkFun's treasury ([the trail](/file/stonkfun-treasury-trail)). ## What is StonkFun? StonkFun is a Solana launchpad where a new coin can be paired with almost any token, not just SOL: tokenized stocks like SPYx and NVDAx, other memecoins, or majors. On 6 October 2026 its API listed 568 tokens you can launch against. 174,587 coins had launched on it, 132,160 of them as reward coins, and 4,731 had graduated. A coin starts on a bonding curve built on Raydium's LaunchLab and moves to a Raydium pool when it reaches the graduation market cap, which StonkFun's settings put at $40,000. Its own token is STONK. [Our full guide](/dispatch/what-is-stonkfun) explains how it works. As of Oct 6, 2026. Sources: [StonkFun API: stats](https://www.stonkfun.xyz/api/public/v1/stats), [StonkFun API: pairs](https://www.stonkfun.xyz/api/public/v1/pairs), [What is StonkFun?](https://trenchbook.app/dispatch/what-is-stonkfun) ## How do StonkFun reward coins and their 1% or 3% tax work? A reward coin charges a transfer tax, 1% or 3%, set at launch. It is taken on every transfer, your own sells included. One StonkFun wallet collects it, sells it for the coin's pair token, and pays it out to holders in batches. [StonkFun's docs](https://www.stonkfun.xyz/developers) say reward coins pay the creator nothing. Standard coins pay a pool fee instead, 1% by default or 2%, and the creator gets about half of the 1% and about three-quarters of the 2%. As of Oct 2, 2026. Sources: [StonkFun developer docs](https://www.stonkfun.xyz/developers), [What is StonkFun?](https://trenchbook.app/dispatch/what-is-stonkfun) ## Where does StonkFun's revenue go? Does it buy back STONK? StonkFun says about 60% of its platform revenue buys STONK on the market and burns it, and its own figures match: on 6 October 2026 its API showed $32.98 million in total revenue and $19.70 million spent on buybacks. Those are StonkFun's numbers; we haven't recounted every buyback on-chain. As of Oct 6, 2026. Sources: [StonkFun API: revenue](https://www.stonkfun.xyz/api/public/v1/revenue) ## Did StonkFun's reward tax go to the team? Some of it did. From August to 20 September 2026, the wallet that collects the reward tax, 5KXD…6tD, made 3,335 transfers to the wallet StonkFun's API lists as STONK's creator and to the wallet Bitquery identifies as StonkFun's treasury. Where prices exist they add up to $630,000; two-thirds of the transfers are in coins with no price data, so that is a floor. StonkFun's docs say reward launches have no creator fees. The transfers stopped on 20 September, when payouts moved to a new wallet. StonkFun hasn't said what they were for. [The full check](/dispatch/stonk-reward-tax). As of Sep 30, 2026. Sources: [Part of StonkFun's reward tax went to the team](https://trenchbook.app/dispatch/stonk-reward-tax), [The tax wallet on Solscan](https://solscan.io/account/5KXDF6QnqhBj72hDtJNkkpFaQVUfbFXNybMsp3DiK6tD) ## Where is StonkFun's treasury money now? Much of it sits in two wallets holding USDC. Between 11 September and 4 October the wallet StonkFun's API lists as STONK's creator, H6qo…acRQ, sent about $10.4 million in USDC to 3sFm…YDNt and BsWo…FLSHg, and part of that came straight from the treasury, 458a…Ukre. At 11:54 AM ET on 6 October 2026, 3sFm…YDNt held $9,354,897 in USDC and BsWo…FLSHg $1,570,352, up from $1,195,779 on 4 October. A platform moving its revenue into its own wallets is normal; what these two are for isn't public. [The treasury trail](/file/stonkfun-treasury-trail). As of Oct 6, 2026. Sources: [3sFm…YDNt on Solscan](https://solscan.io/account/3sFmaNV2HrJn3TwMioN1S5EP6o68WkyYigpBD1PaYDNt), [BsWo…FLSHg on Solscan](https://solscan.io/account/BsWodH1wcQWfNMx52U8Cv92bTkmcrvTJPpxUck3FLSHg), [The StonkFun treasury trail](https://trenchbook.app/file/stonkfun-treasury-trail) ## Did StonkFun's fee wallet dump $50 million on holders? No, not in the way the post said. On 21 September 2026 an X account said StonkFun's fee wallet had sold almost $50 million of tokens on top of a 5% tax. Bitquery checked it the next day: the wallet had sold $56.3 million but paid $56.2 million back to holders as rewards, and the tax was 1% or 3%, not 5%. Bitquery did find $1.41 million in reward payments outside the payout ledger, sent to wallets it ties to StonkFun's creator and treasury. That part is unexplained. [The launchpad war](/dispatch/launchpad-war). As of Sep 27, 2026. Sources: [The launchpad war, by the numbers](https://trenchbook.app/dispatch/launchpad-war), [Bitquery: Is StonkFun dumping on holders?](https://bitquery.io/investigations/is-stonkfun-dumping-on-holders) ## How does StonkFun compare to pump.fun? pump.fun is much bigger: about $3.6 billion in volume over the week to 2 October 2026, against StonkFun's $167 million (DefiLlama). StonkFun let coins pair with almost any token first; pump.fun added custom pairs on 9 September and holder rewards on 12 September, according to Blockworks. On pump.fun's bonding curve every trade pays 1.25%, 0.30% of it to the creator. StonkFun reward coins pay the creator nothing. For five days, 19 to 23 September, StonkFun earned more than pump.fun's launchpad. As of Oct 2, 2026. Sources: [What is StonkFun? (comparison table)](https://trenchbook.app/dispatch/what-is-stonkfun), [DefiLlama: StonkFun](https://defillama.com/protocol/stonkfun), [Blockworks: Pump Strikes Back](https://blockworks.com/newsletter/0xresearch/issue/post_7f9ac9ee-2ac4-416a-a67a-a3a7fa5267ba) ## Who launches first on new StonkFun pairs? On most new pairs, a fleet of bots. From 28 to 30 September 2026, on five of six new pairs we checked, coins launched 13 to 81 seconds after the new token's pool opened, before @LaunchOnSF announced the pair. About 20 recurring wallets netted roughly $175,000 in the first hour. Every early coin came after the pool was public on-chain; we found no sign of advance knowledge and no funding from StonkFun's known wallets. [Our report](/dispatch/stonkfun-pair-bots). As of Oct 1, 2026. Sources: [On StonkFun's new pairs, the first minutes belong to a bot fleet](https://trenchbook.app/dispatch/stonkfun-pair-bots) ## What are Sunrise pairs on StonkFun? Sunrise is how tokenized shares issued by Backpack Securities reach Solana, and StonkFun lists them as launch pairs. On 6 October 2026 its pair list had 93 in its Sunrise category. The first we covered was Nokia: NOK listed on 28 September and became a StonkFun pair the same morning. 313 coins launched against it in under four hours, and nine graduated. [For memes, press 1](/dispatch/nok-pairs). As of Oct 6, 2026. Sources: [StonkFun API: pairs](https://www.stonkfun.xyz/api/public/v1/pairs), [For memes, press 1](https://trenchbook.app/dispatch/nok-pairs) ## Why was StonkFun's X account suspended? Nobody has said. @LaunchOnSF was suspended on the afternoon of 27 September 2026 and was back online that night. Neither X nor StonkFun gave a reason. Holders blamed pump.fun, but nothing public ties pump.fun to it, and the order of events doesn't fit the story: STONK had topped on the 21st and PUMP had bottomed on the 24th, before the suspension. [The launchpad war](/dispatch/launchpad-war). As of Sep 28, 2026. Sources: [The launchpad war, by the numbers](https://trenchbook.app/dispatch/launchpad-war), [@LaunchOnSF: back online](https://x.com/LaunchOnSF/status/2104365783598149963) ## How do I check a StonkFun coin before buying? Open the coin's page on StonkFun and check four things. Its pair: a coin paired with a thin token can be hard to sell. Whether it's a reward coin, and its tax rate: 1% or 3% on every transfer, including your own sells. The pool's liquidity. And who created it. If the coin is on a new pair, remember that bots launch and sell in the first minutes. Stacked coins are tied to each other: the [RuneScape stack](/dispatch/party-hat-mania) of GP, CRACKER and the party hats was built in layers and fell together in September. As of Oct 2, 2026. Sources: [What is StonkFun?](https://trenchbook.app/dispatch/what-is-stonkfun), [Party hat mania](https://trenchbook.app/dispatch/party-hat-mania) ## Dispatches - [What is StonkFun? How it works, and how it compares to pump.fun](https://trenchbook.app/dispatch/what-is-stonkfun) - [Part of StonkFun's reward tax went to the team](https://trenchbook.app/dispatch/stonk-reward-tax) - [The launchpad war, by the numbers](https://trenchbook.app/dispatch/launchpad-war) - [On StonkFun's new pairs, the first minutes belong to a bot fleet](https://trenchbook.app/dispatch/stonkfun-pair-bots) - [For memes, press 1](https://trenchbook.app/dispatch/nok-pairs) - [Party hat mania](https://trenchbook.app/dispatch/party-hat-mania) ## Coin pages - [$STONK](https://trenchbook.app/coin/solana/STONK) - [$GP](https://trenchbook.app/coin/solana/GP) - [$CRACKER](https://trenchbook.app/coin/solana/CRACKER) - [$DUMP](https://trenchbook.app/coin/solana/DUMP) ## Files - [The StonkFun treasury trail](https://trenchbook.app/file/stonkfun-treasury-trail) There is no official trenchbook token. Nothing here is financial advice.