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Wavebreak is Orca’s token launchpad for human-first token launches on Solana.
TL;DR Wavebreak uses a bonding-curve sale to launch new tokens on Solana. During bonding, users can buy or sell tokens, and the token price changes according to bonding-curve mechanics. If a token reaches Graduation, liquidity is seeded into an Orca Whirlpool. Eligible trading activity during bonding can earn Points, which are used to calculate Daily Rewards.

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Why Wavebreak?

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How Wavebreak works

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Launch a token

Anyone can launch a token permissionlessly through Wavebreak.

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Bonding phase

During bonding:
  • Users can buy tokens with SOL.
  • Users can sell bonded tokens back into the curve for SOL.
  • Wavebreak mints tokens incrementally along the bonding curve.
  • The spot price changes deterministically as tokens are bought or sold.
  • Buyers can preview estimated tokens received before confirming, subject to slippage.
  • Eligible trading volume earns Points during the bonding phase.
  • Orca’s anti-bot system is designed to reduce the advantage of automated sniping, but it does not guarantee access, execution, or outcomes.
Tokens sold during bonding are burned in exchange for SOL and added back to the amount available to buy. The total supply reaches 1,000,000,000 tokens at Graduation.

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Graduation

Graduation happens when the bonding curve reaches the Graduation threshold. At Graduation:
  • 1.18% of the SOL collected during bonding is taken as a protocol fee.
  • Wavebreak uses 19.32% of the token supply together with 84 SOL to create a full-range locked liquidity position in a new Whirlpool.
  • The token creator owns this locked LP position.
  • The token creator may earn 87% of trading fees generated from this locked LP position.
  • A portion of the token supply is set aside for Daily Rewards and allocated to users based on Points.

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Post-launch trading

After Graduation, the token can be traded through its Orca Whirlpool. The token may also be available through aggregators that support Whirlpools. Trading conditions may vary based on liquidity, trading activity, price impact, route availability, and aggregator support.

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Rewards Program

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Daily Rewards

During the rewards period, a portion of token supply is allocated to Daily Rewards. At the end of each rewards period, Daily Rewards are shared among eligible users based on each user’s pro rata share of the total Points issued for that token during the period. Reward amounts may vary based on eligible trading activity, total Points, graduated tokens, user participation, and program rules.

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Earning Points

Points are earned from eligible trading volume in tokens that are still bonding. When trading, the Wavebreak trading modal displays how many Points a trade will earn. A user’s current Points balance can be found in the Rewards Panel, alongside estimated reward information.

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Daily token drops

Daily Rewards are allocated at 8:00 pm Eastern Time each day. Users who earned Points during the period receive a share of each token that graduated, based on their pro rata share of total Points for that token. After allocation, Point balances reset and the next 24-hour cycle begins.

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Claiming rewards

Users can view and claim rewards through the Rewards Panel. Rewards are currently claimable without an expiry date. Up to 6 tokens can be claimed per transaction.

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Important reminders

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Bonding-curve prices can move quickly

Bonding-curve prices change according to the curve and trading activity. Review estimated tokens received, slippage, price impact, and transaction details before confirming.

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Anti-bot systems do not remove all risk

Orca’s anti-bot system is designed to reduce the advantage of automated sniping, but it does not guarantee access, execution, or outcomes.

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Graduation is not guaranteed

A token only graduates if it reaches the Graduation threshold. Tokens that do not reach the threshold may remain in the bonding phase.

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Post-Graduation trading conditions can vary

After Graduation, liquidity is seeded into an Orca Whirlpool. Trading conditions may vary based on liquidity, trading activity, price impact, route availability, and aggregator support.

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Rewards depend on program rules

Points and Daily Rewards are calculated according to the rewards program rules. Reward amounts may vary based on eligible Points, graduated tokens, and user participation during the rewards period.

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Key Concepts