A Solana launchpad where the fees go to the red
Bought the top?
Get paid for it.
Every trade’s fee is paid back to the holders who are down the most, every ten minutes. The deeper in the red and the later you bought, the bigger your cut.
the herd follows the green light.
Wool shorn
0.0 SOL
In wool pools
0.0 SOL
Sheep paid
0
Avg loss repaid
0%
$SHEEPD burned
0.0 SOL
In the field right now
+ Launch a coinEvery chart has a herd
Somebody buys the top of every memecoin. It is usually the same people, and it is usually not by accident.
A coin launches. A few wallets get in at the bottom. Then someone with a following posts it, and the herd arrives: hundreds of wallets buying the same chart at the same time, all of them late. The early wallets sell into them. The chart goes red. The herd holds the bags.
Meanwhile every one of those trades paid a fee. On every launchpad today that fee goes to whoever deployed the coin, the one person guaranteed not to be holding the bag.
Sheepd sends it the other way. The fee goes back to the herd: every ten minutes to the holders who are down the most, weighted by how much they lost and how late they bought. If the creator switches on the Golden Fleece, one red wallet also wins a jackpot every hour. The herd still buys the top. Now the top pays them back.
It never pays anyone more than they lost, and it never pays a wallet that’s up. It isn’t a yield. It’s a refund that drips.
How the wool moves
Six parties, ten messages. Only the buy is yours. The rest happen on their own for as long as the coin trades.
- 01You, a sheep → The coinbuy 2.4M tokens at 82% of the curve
- 02The coin → Fee vault1% fee, on every trade, from trade one
- 03The coin → You, a sheepprice falls 60%. your PnL is red
- 04Router → Fee vaultsweep the vault, every 10 min
- 05Router → The coinsnapshot: bought tokens held all epoch ≥ 100k
- 06Fee vault → You, a sheepshear, pro rata by pain
- 07Fee vault → Fleece pot10%, if the Golden Fleece is on
- 08Fleece pot → You, a sheephourly draw, odds by pain
- 09Fee vault → $SHEEPD10% buys and burns (reserve until live)
- 10Router → You, a sheeprepeat until your loss is repaid
Optional, switched on at launch
The Golden Fleece
A creator can give their coin one extra: an hourly jackpot for its bagholders. 10% of the fee moves from the shear into a pot, and every hour one underwater wallet wins all of it. Holders still get 90% of the fee either way. It just arrives as a drip plus a jackpot.
Every hour
One winner per coin, per draw
Odds = pain
Deeper and later bags have the best shot
Provably fair
On-chain VRF. Win capped at your loss
Biggest pots right now
- No Golden Fleece coins live yet.
Watch one shear, wallet by wallet
This is one epoch on a demo coin. Press run and each step prints what the shear bot reads, weighs and sends.
One epoch on $LATE. Six of its sheep and two wolves.
$LATE "Late Again" 90% of fees to holders waiting for the epoch boundary…
Numbers are this demo coin’s real weights from the same formula the bot runs. Transfers are simulated.
What a red bag is worth
How much a bag earns depends on how much it lost, how late it was bought, and how much pain the rest of the herd is in.
Size your bag
- Your loss
- 1.20 SOL
- Your pain weight
- 1.62 (×1.35 late)
- Share of the pool
- 3.3%
- Per shear, every 10 min
- +0.104 SOL
- Golden Fleece odds, each hour (if the coin has it)
- 3.3%
- Paid back in
- 2.0 hours
Assumes you bought at least 100,000 tokens yourself and held them all epoch.
Late counts more
Each lost SOL is weighed by where on the curve you bought it: 1× at the start, up to 1.5× at the top. The people who bought the screenshot get the most back.
Wolves eat nothing
A wallet in profit weighs zero. The moment your bag goes green, your share goes to whoever is still red.
Paid back, not paid out
Payouts stop at your loss. Once a bag has been repaid in full it is shorn and drops off the list. Nobody profits from the shear alone.
No wallet eats the pool
One wallet can take at most 5% of a single shear, however deep its bag. The rest goes down the line.
Down means PnL
Your loss is what you paid for the tokens you bought, minus what they're worth now, minus wool already paid. You need at least 100,000 of them, held all epoch.
Transfers can't fake a loss
Tokens sent to you count for nothing: they have no cost. Tokens you send away leave with their share of your cost. Selling closes the bag.
Fees route from trade one
Each coin's fee lands in its own vault from the first curve trade. 90% goes back to holders, 10% always buys $SHEEPD. Before $SHEEPD launches, that 10% waits in a reserve.
Golden Fleece, if they want it
The one thing a creator chooses: switch on an hourly jackpot. 10% of the fee moves from the shear into a pot that one red wallet wins every hour.
Ways to game it
Each row is something someone will try. The middle column is what happens without anyone stepping in.
| Attempt | What happens on its own | Net |
|---|---|---|
| Split one red bag across fifty wallets | Weight is per SOL lost, not per wallet. Fifty small bags weigh exactly what one big one did. Same for Golden Fleece odds. | Nothing gained. More fees paid. |
| Buy the top on purpose to farm wool | Wool repays at most what you lost, and only while there are fees to share. | Best case, you break even. |
| Dump, rebuy lower, repeat | Selling closes the bag and forfeits its loss. The rebuy starts at zero pain and an earlier spot on the curve. | Each cycle resets you. |
| A whale sits on a huge red bag | Capped at 5% of each shear, and a Fleece win is capped at the winner's loss. | The rest flows to smaller sheep. |
| The dev buys early and dumps on the herd | Their dump makes the herd red, and 90% of the fees from that volume go to the herd. | Dumping funds your victims. |
| Wash trade to pump the Fleece pot | Every trade pays the 1% fee and only 10% of it reaches the pot, which someone else will probably win. | You lose 90% of every fee. |
| A bot buys a second before the shear | Bags need one full epoch before they count. | Nothing this round. |
| Send a dumped bag to a fresh wallet | Transferred tokens arrive with zero cost, so the new wallet shows no loss. The old wallet loses the cost that left with them. | The loss disappears. |
Compared with the other pads
Three places to launch a memecoin, and who each one pays when the chart goes red.
| Classic pad | Cashback pads | Sheepd | |
|---|---|---|---|
| Who gets the trading fee | The creator | The creator, some back to volume | Holders in the red, 10% $SHEEPD |
| Rewards late buyers | No | No, rewards volume | Yes, up to 1.5× |
| Rewards wallets in profit | — | Yes | No |
| Pays back losses | No | No | Up to 100% of the loss |
| Jackpot for bagholders | No | No | Golden Fleece, hourly |
| Splitting wallets helps | — | Often | No, weight is per SOL lost |
Questions from the pen
Last shears
No shears yet.
Is this a guarantee I get my money back?+
No. Every payout is a share of the fees a coin earns. A coin with no volume pays nothing. A coin with lots of volume and lots of red bags pays each of them a little, every ten minutes, until they're repaid or the volume stops.
Where does the money come from?+
A 1% fee on every trade, on the bonding curve and after graduation. It lands in the coin's own fee vault, and every 10 minutes 90% goes back to holders and 10% buys and burns $SHEEPD.
What happens to the 10% before $SHEEPD exists?+
It routes into a buyback reserve, from the first trade on the first coin. When $SHEEPD launches, the reserve buys and burns, then buybacks run every hour after that. The reserve balance is on the home page and on-chain.
So why would anyone launch here?+
Because a coin that pays its bagholders keeps them. Red bags stop being a reason to leave. Creators who want to make money do it the honest way: buy their own coin like everyone else and sell into real demand.
What is the Golden Fleece?+
An optional jackpot the creator can switch on at launch. 10% of the fee moves from the shear into a pot, and every hour one underwater holder wins the lot. Your odds are your share of the coin's pain. Holders still get 90% either way.
What counts as down?+
Your PnL on the coin, not your balance. At each snapshot: what you paid for tokens you bought and still hold, minus what they're worth now, minus wool already paid. If that's above zero and you hold at least 100,000 of those tokens, you're a sheep.
Can't someone just send tokens around?+
It doesn't help. Tokens received by transfer carry zero cost, so they never add a loss. Tokens sent out take their share of your cost with them. And only the smallest balance you held during the epoch counts.
What if nobody is down?+
Then nobody is paid. The pool, and the Fleece pot, roll over and wait for the next top buyer.
Do I have to claim?+
No. Wool and Fleece wins are pushed to your wallet. Your Shear page shows what you've been paid and what's next.
What's the website on a coin?+
Every coin's website is its own Sheepd page, written into the token metadata at mint. Creators can't add a link that points somewhere else.
Status
What is real today and what is not.
| Chain | Solana. |
| Curve | Bonding curve on pump.fun rails. Coins graduate to an AMM; fees keep flowing after. |
| Fee split | 1% per trade: 90% shear, 10% $SHEEPD. With Golden Fleece on: 80% shear, 10% Fleece. |
| Shear | Every 10 minutes. Pain-weighted, 5% wallet cap, one-epoch hold. |
| Golden Fleece | Hourly draws, odds by pain, win capped at the winner's loss. |
| $SHEEPD | Not launched. 10% of every fee is already routing into the buyback reserve. The CA will be posted here and on X, nowhere else. |
| This site | Live. Launch and trade go on-chain via pump.fun. Creator fees route to the Sheepd vault. |
The herd is going to buy the top anyway.
Launch somewhere that pays them back for it.