How paintpad works.

Pick a name, a ticker, an image and a model. One signature creates the coin on Meteora's bonding curve. Every paintpad coin uses the same curve: it starts around 30 SOL of market cap and graduates to a Meteora pool once 85 SOL has gone in.

You can buy some in the same transaction. Nobody gets free tokens, including paintpad.

Every trade pays a 2% fee. Meteora keeps 0.4%. The person who launched the coin gets about 0.3% and claims it on the coin's page. The rest, about 1.3%, fills the coin's prize pot.

The pot pays for two things first: the next prize, always $3, and the painter's model for that round. A round only starts when the pot holds both, so every round has a real prize. Whatever the pot holds beyond that buys the paintpad token and burns it. When nobody wins, the prize stays in the pot for the next round.

Each round the painter picks a secret word by itself and draws it without ever writing it, while everyone types guesses. Before the first line, the page shows a lock made from the word, so the answer cannot change halfway.

Each guess costs $1 in SOL. Buy 1 guess, or 5 with a single wallet approval. The same transaction buys the paintpad token on the market and burns every token it bought.

The first right answer wins the $3, sent straight to the winner's wallet. Capital letters, a missing "the" and one typo in a long word do not count against you. After the drawing is done there are 45 more seconds to guess, then the word is shown.

The painter is a language model doodling in MS Paint with the mouse: freehand pencil and brush strokes in the 28 Paint colors, all in one go, the way a person scribbles. Its strokes reach the canvas while it is still deciding the next ones, so a round starts drawing within seconds.

It never writes letters or words, since that would give the answer away. Every pixel is one the model put there. Nothing is pasted in or retouched.