Every token here is pegged to one graded Pokémon card. This page covers what the peg is and is not, where the card prices come from, what the vault does with fees, and how a slab ends up in a launcher's hands.
A token is two things at once. It is an ordinary pump.fun coin on Solana, paired with CARDS (Collector Crypt's token) instead of SOL: it trades on pump.fun's bonding curve from the first block and graduates to a PumpSwap pool when the curve sells out. It also carries a reference: one card at one grade from one grader, chosen at launch and fixed for the life of the token.
Every buy and sell pays 3.95%: 0.95% to pump.fun and a 3% creator fee, set when the coin is created and fixed after. The creator of every Gem Mint token is its vault: a wallet that exists only to hold this token's fees and its card. The keeper collects the vault's creator fees from pump.fun and settles them: 60% is swapped to USDC inside the vault as the slab reserve, 25% buys back and burns $GEM, 15% pays operations. About 1.80% of trading volume reaches the slab reserve. The creator fee continues on the PumpSwap pool after graduation.
The whole supply targets one card. Token value is price times the one billion supply, and drift is that value over the card's reference price, minus one. Inside ±5% it is on peg. The peg is a reference the market may or may not respect; nothing defends it. The peg is not redemption: a token cannot be exchanged for the card and holders have no claim on what the vault holds. The card is a bounty for the launcher, paid for by the token's own trading.
Card prices come from Collector Crypt's marketplace, where thousands of graded Pokémon slabs are listed for sale in a vault, priced in USDC on Solana. A class is one card at one grade; the reference is the median of current sane asks. No listing means the insured value stands in, and the last known price is held and marked stale rather than dropped to zero. The catalogue refreshes every ten minutes. Token prices are quoted in CARDS on the curve and shown in dollars at Jupiter's CARDS price.
Each launch derives a vault key from a server secret and the launch salt, and the launch transaction names that key as the coin's creator on pump.fun, so the creator fee can only ever accrue to the vault. pump.fun holds it until it is collected; collection is permissionless and always pays the creator's own account, so nobody can redirect it. The slab reserve is swapped to USDC by the vault itself, with the keeper paying the network fee. The vault buys the card with its own USDC on Collector Crypt and holds the NFT until the launcher claims the bounty; the release is an on-chain transfer you can verify.
Gem Mint's share moves to the ops wallet at settle time. Whenever the buyback earmark reaches $25, the keeper buys $GEM through Jupiter with CARDS and burns it; the burn transaction is on the receipts page.