Rules

Z500 Crowdfunding runs all-or-nothing pools that collect $ANSEM to fund the burn a community token needs to meet the z500 index criteria. A pool passes through, in order: Voting → Funding → Burned or Refunding. A pool that fails the vote ends as Rejected without ever collecting anything.

Two kinds of pool exist. Existing token: success is the burn and listing eligibility, nothing is distributed. New launch: success is the burn plus a pre-launch allocation of the new token, escrowed in the program before funding opens and claimable pro-rata by contributors afterwards.

• Anyone holding at least the fee can apply. The application names the token, a ticker, a summary (280 chars), a link, a burn goal in $ANSEM and a funding window between 3 and 60 days.
• The application fee is 1K $ZFUND. It is transferred to the protocol fee vault at submission and is not refundable in any outcome - approved, rejected, funded or missed. It pays for moderation. You are told this on the form before signing.
• New-launch applications also name the allocation mint and the gross allocation amount. The creator must escrow that exact amount into a program-owned vault; contributions are refused until it is there.
• Applicants cannot vote on their own application. Any other wallet can.

• The vote is open for 3 days from submission.
• Weight = the voter's $ZFUND token-account balance at the moment the vote transaction executes. There is no lockup and no separate governance token. One vote record per wallet per pool; votes cannot be changed.
• After the window closes anyone can finalize. The application is approved when total weight cast is at least the quorum of 5M $ZFUND (0.50 % of supply) and weight for exceeds weight against. Anything else rejects it.
• Approval opens the funding window immediately; the deadline is set at finalization, not at application.
• Known limitation: because weight is read at vote time, tokens moved between wallets can vote more than once. Quorum and applicant exclusion reduce the damage a small group can do; they do not eliminate it. Low turnout is the real risk.

• Any wallet holding $ZFUND (any amount above zero) can contribute $ANSEM to an approved pool. Contributions go into a vault owned by the pool's program address; the creator never touches them.
• The goal is a hard cap. A contribution that would push the total above the goal is rejected. What the progress bar shows is exactly what will burn.
• You can contribute more than once; the pool keeps one record per wallet with the running total.
• New-launch pools accept contributions only after the allocation has been escrowed.
• The window closes at the deadline or when the goal is hit, whichever comes first.

Goal reached → Burned

• Anyone can call finalize_success once raised ≥ goal. The instruction burns the entire vault balance from the pool's token account with the pool as signer. There is no step in between where $ANSEM sits in a wallet.
• New launch: the escrowed allocation was already in the program before the burn, so claims cannot depend on anyone acting after it. Each contributor may claim (allocation − protocol fee) × own deposit ÷ total raised, once. Existing token: nothing to claim.
• The pool's state, the burned amount and the finalization time are written to the pool account.

Deadline passed below goal → Refunding

• Anyone can call finalize_refund once now > deadline and raised < goal. Each contributor then withdraws exactly their deposit with refund. No fee, no partial haircut, no time limit.
• The creator can take back the escrowed allocation with withdraw_allocation. The application fee is not returned.

Vote failed → Rejected

• Nothing was collected, so there is nothing to refund. An escrowed allocation can be withdrawn by the creator. The application fee is not returned.

• $ZFUND is an SPL token with a fixed supply of 1B; the mint authority has been revoked, so no further tokens can ever be created.
• Protocol fee: 2.5 % of the allocation of a successful new-launch pool, taken from the token allocation, never from contributed or refunded $ANSEM. Existing-token pools pay no protocol fee. This fee is earmarked for $ZFUND buyback-and-burn.
• Application fee: 1K $ZFUND, non-refundable, as above.
• There is no fee on contributions, votes, claims or refunds. You pay Solana network fees only.
• The authority can adjust the application fee, quorum, vote window and protocol fee (capped at 5 %) for future pools. Pools already submitted keep the parameters they were created with.

• Listing is not guaranteed. A completed burn makes a token eligible under z500 criteria. Whether Ansem ranks, features or ever mentions the token is entirely at his discretion and outside the protocol's control.
• Allocations can lose all value. A pre-launch allocation from a funded project is a venture position. If the project fails, the tokens may become worthless. Nothing here is a promise of return, yield or liquidity.
• Rules of the index can change. If z500 criteria change (minimum burn, application format), pools may need new parameters. Open pools keep the parameters they were created with; the protocol will adapt future pools.
• Devnet build. This deployment runs on Solana devnet with a mock $ANSEM. It is here to demonstrate the mechanics end-to-end, not to hold value.

Program

2ecJPHL9e2v8BMmpwHswoPxpFkYQgxoh9S3yE9giZdCr ↗

Config PDA

10 pools · authority 4uc6TFvJ…

$ZFUND mint

4ua6CH6p33qMQh14oYXPwpHJhPDj6BJzaP29GXk3ATNB ↗

$ANSEM (devnet mock)

DN2ps1fj3J3RsXzjR6PRQsUBKgCVB85QaJ7bchHQDBTz ↗

Fee vault

5DPb51ceDK43fmkSZ74U5euDYd1ar8RTcK6wjBoKANu9 ↗

Source

anchor/programs/zfund/src/lib.rs in this repository