copycat

Whitepaper

copycat turns any Solana wallet into a token backed by that wallet's real coins. Buy $FRANKDEGODS to own a slice of frank's bag, which follows his trades. Burn it anytime for your share of the actual coins, and frank earns a fee on every trade.

Version 0.1 · October 2026 · Contract addresses are published here at launch.

The idea

Following a great trader today means watching their wallet and copying it by hand, late and at a worse price. copycat packages a wallet as one token. Holding the token is the copy: it is backed by a vault of the same coins, the vault follows the wallet, and you can always swap the token back for the coins inside.

Three promises, each kept by code rather than by a person:

  • Backed. Every token is a slice of a real bag of coins, held by a program, not by us.
  • Follows. The bag can only buy coins the copied wallet actually holds.
  • Exit anytime. Anyone can burn tokens for their exact share of every coin, whenever they want.

A card's life

Every card goes through the same four stages. The bag starts empty and grows at each one.

  1. Bag: emptyCloneOne transaction launches the token on a Meteora bonding curve.
  2. Bag: fills with feesCurvePeople buy and sell. Every trade pays a fee into the bag.
  3. Bag: + migration feeGraduationThe curve hits its target. A migration fee lands in the bag.
  4. Bag: keeps growingPoolTrading moves to a locked Meteora pool. Its fees keep coming.
  • Clone. Anyone can clone any wallet. One transaction launches the token on Meteora's Dynamic Bonding Curve and registers the card with the copycat program. The card belongs to the wallet it copies, not to whoever clicked.
  • Curve. People buy and sell on the curve, and the price rises as supply is bought. Most of every trading fee flows into the bag.
  • Graduation. When the curve has raised its target, Meteora moves the token to a DAMM v2 pool. A migration fee goes into the bag in one lump, and the pool's liquidity is locked forever.
  • Pool. The token keeps trading there and on any route Jupiter finds. The locked liquidity keeps earning fees for the bag and for the copied wallet to claim.

What backs a card

Each card has a bag: a vault owned by the copycat program. No person holds its keys. It is filled by trading fees on the curve, the migration fee at graduation, and the fees the locked pool earns afterwards.

Fees arrive as SOL. The keeper turns that SOL into the coins the wallet holds: up to 12 of its largest holdings, each with at least $5,000 of real liquidity, weighted like the wallet. Burn 1% of all tokens and you get 1% of every one of those coins.

The bag backs part of the price, not all of it. A bonding curve creates more market value than the SOL it collects, and the SOL buyers pay stays in the pool as trading liquidity. On our test curve, a card that graduates at a 150 SOL market cap has about 10 SOL in its bag, roughly 7%. That share grows with every trade after graduation.

Following the wallet

A keeper reads the copied wallet every few minutes, works out the bag's target weights, and trades toward them through Jupiter, one swap at a time. The program checks every swap before it goes through:

  • The swap goes through Jupiter and nothing else.
  • The coin bought is held by the copied wallet right now, or is SOL.
  • The bag spends no more than allowed and gets at least the quoted amount back.
  • No other coin in the bag moves.
  • Each swap is capped in size, and each card has a cooldown between swaps.

The keeper cannot withdraw anything, cannot buy coins the wallet doesn't hold, and cannot touch cashing out. If it stops, the bag stops following, and cashing out still works.

Cashing out

Burn any amount of a card and receive your share of every coin in its bag, in one transaction:

you receive = coin in the bag × tokens you burn ÷ tokens in circulation

“Tokens in circulation” leaves out any tokens the bag itself holds. Payouts round down, so the bag can never be overdrawn. Cashing out needs no one's permission and keeps working even if copycat pauses new cards.

This makes a floor. If a card trades below the value of its slice, anyone can buy it, burn it and keep the difference. That buying pushes the price back up.

Fees

On the curve, each trade pays a 1% fee. Here is where it goes:

The bagCopied walletMeteoracopycat
  • Launch protection. The fee starts at 10% and falls to 1% over the first 10 minutes, so snipers pay for it.
  • Graduation. 20% of what the curve raised goes into the bag as the migration fee.
  • After graduation. The locked pool charges 1%. Half its liquidity earns fees for the bag (minus copycat's cut), the other half for the copied wallet.

How copycat earns: 0.10% of every curve trade, a cut of the bag's pool fees after graduation, and most of the small launch fee (0.02 SOL) Meteora charges for each new card. copycat never takes from the bag or from the copied wallet's share.

These are the default launch parameters. The final numbers are published with the contracts.

The copied wallet

  • Claims its earnings. Its share of every fee waits inside Meteora's pools, where nobody else can move it. The owner claims it on copycat.my by signing with that wallet, whenever they like.
  • Controls its card. The same signature lets the owner send future earnings to another address and manage the card's page.
  • Isn't endorsing anything. A card's name always says it is a card of the wallet (for example “frankdegods card”), and its page says the person behind the wallet doesn't run or endorse it.

Pairs, next

The next step is “paired with every coin they hold”. After graduation, each coin in a bag gets its own Meteora DLMM pool against the card, for example $FRANKDEGODS/STONK. Bids sit just under the bag's value per token, so:

  • the floor is on the order book, not only in the burn button,
  • holders of any of the wallet's coins can buy the card directly with them,
  • coins that would sit idle earn swap fees for the bag.

When the wallet drops a coin, its pair closes and a new one opens for the coin it bought.

Built on Meteora

Dynamic Bonding CurveLaunches every card. Its partner fees fund the bag, its creator role is handed to the card so the copied wallet earns, its fee schedule stops snipers, and its migration fee tops up the bag at graduation.
DAMM v2The pool a card graduates to. Liquidity is locked forever, and the program claims the pool's fees for the bag and the copied wallet.
DLMM (next)Pairs each card with every coin in its bag.

Safety

  • One program, pinned to Meteora's and Jupiter's program addresses. Every Meteora account it reads is checked for owner and type.
  • Pausing can stop new cards and swaps. It can never stop cashing out.
  • Admin and upgrade keys will be held in a multisig, separate from the keeper's key.
  • Every rule has a unit test, and the full life of a card (clone, trade, cash out, graduate, pool fees) has been run against Meteora's real mainnet programs.
  • An external review comes before real volume.

Where the numbers come from

  • Holdings are read from Solana and priced by Jupiter.
  • Rankings use 30 day PnL from FOMO and KOLscan.
  • Names and pictures come from KOLscan, pump.fun profiles and the SNS Twitter registry.

Risks

  • Prices. Cards and the coins inside them can go to zero. The bag backs part of a card's price, not all of it.
  • Code. Smart contracts can have bugs, even reviewed ones.
  • The copied wallet. Its owner may trade badly, move funds elsewhere, or trade against copiers. The bag follows with a delay and with size caps.
  • Not affiliated. The people behind copied wallets don't run or endorse copycat. Nothing here is financial advice.
See the cardsClone a wallet