How OBSCURA works

OBSCURA is two Anchor programs on Solana mainnet-beta plus an indexer. obscura_launchpad creates fixed-supply SPL tokens and sells them along a bonding curve. obscura_rewards distributes token rewards through on-chain Merkle claims. This website only reads chain state and builds transactions for your wallet to sign; it never holds keys or funds.

Each token uses a constant-product curve over virtual reserves: x · y = k, where x is virtual SOL and y is virtual tokens. Buys add SOL and remove tokens; sells do the reverse. A protocol fee in basis points is charged on the SOL leg and sent to the configured fee recipient.

Every trade carries a minimum-output bound you set via slippage. If the curve moves past it before your transaction lands, the program rejects it and you pay only the network fee. When real SOL reserves reach the graduation threshold, the curve closes and further trading on it is rejected.

Prices, volumes, holders, and rankings are computed from Anchor events emitted by the program and recorded by the indexer only at confirmed commitment. Each row stores its transaction signature and slot so it can be audited on any explorer. Balances in your portfolio are read live from mainnet.

If the indexer is behind, the leaderboard shows a staleness notice rather than estimated numbers.

For each epoch, operators compute allocations off-chain from a mainnet snapshot, build a Merkle tree, publish the root in a distributor account, and fund a program-owned vault. You claim with your proof; the program verifies it, transfers from the vault, and creates a claim-status account so the same leaf can never be claimed twice.

The site disables a claim if the distributor is missing, its root differs from the published tree, or its vault is underfunded.

Launchpad trades are public Solana transactions. OBSCURA does not claim to hide amounts or addresses. Confidential transfers are only offered for Token-2022 mints that carry the ConfidentialTransferMint extension, and only once the ZK ElGamal Proof program is confirmed live on mainnet.

Trading, token creation, and reward claims unlock only when the status page confirms all of: a mainnet RPC with the correct genesis hash, an executable program at the configured ID, on-chain bytecode matching a reproducible verified build, a published security review, an initialized and unpaused protocol config, and explicit operator sign-off.

• Tokens launched on OBSCURA are created by anyone and have no inherent value. You can lose everything you spend.
• Smart contracts can contain bugs despite review. Audits reduce risk; they do not eliminate it.
• Prices on a bonding curve move with every trade. Large orders incur significant price impact.
• Transactions are irreversible. Verify the mint address before trading; names and symbols are not unique.
• Nothing on this site is financial, legal, or tax advice. Check whether using it is lawful where you live.