How Segment works

Every rule below is code. The site runs exactly these numbers, and nothing is picked by hand.

The indexes

Index	Universe	Seats	Buffer	Weight
PUMP20	The 20 largest coins born on pump.fun	20	±5	1/20
STONK20	The 20 largest coins launched on StonkFun	20	±5	1/20
MEME50	The 50 largest memecoins on Solana	50	±10	1/50
HOOD20	The 20 largest memecoins on Robinhood Chain	20	±5	1/20

Solana universes come from Jupiter's verified lists, pump.fun and StonkFun. HOOD20 comes from Robinhood Chain pools on GeckoTerminal. Tokenized stocks, stablecoins, staked SOL, wrapped majors and protocol tokens are excluded.

Screens

A coin must pass the entry screens to join and looser maintenance screens to stay. A market cap to liquidity ceiling keeps fantasy caps out, and Jupiter's organic score filters bot-only volume. On Robinhood Chain a volume to liquidity ceiling does that job.

Entry screen	PUMP20	STONK20	MEME50	HOOD20
Seats	20	20	50	20
Market cap	$2M	$750K	$3M	$750K
Liquidity	$150K	$40K	$250K	$20K
24h volume	$100K	$20K	$150K	$5K
Holders	2,000	300	5,000	—
Age	3d	2d	7d	24h
Weight	1/20 each	1/20 each	1/50 each	1/20 each

Plus revoked mint and freeze authority on Solana, organic-volume and thin-pool filters. Members stay on looser screens, with a rank buffer so coins don't flap in and out.

Reviews

Membership changes at 00:00, 06:00, 12:00, 18:00 UTC. Members stay while they rank inside seats plus buffer. An outsider ranked inside seats minus buffer forces its way in and the worst-ranked member leaves. A coin whose price feed goes quiet for 30 minutes, or whose liquidity collapses, leaves immediately.

Weights and the level

Each member is 1/N of the index and weights reset at every print, so the index moves by the average move of its coins. Every index opened at 1,000.00. The official level prints every 30 seconds; a print is the only thing that fills orders and settles positions.

level(t) = level(t−1) × (1 + mean over members of (priceᵢ(t) ÷ priceᵢ(t−1) − 1)) base level = 1,000

The book

One matched book per index, longs against shorts, with no house on the other side and no liquidation. Orders fill at the next print. Leverage is 1x, 2x, 3x, 5x.

matched(long) = min(1, shorts ÷ longs) matched(short) = min(1, longs ÷ shorts) value(t) = value(t−1) × max(0, 1 ± leverage × move × matched)

A losing position shrinks at every print but is floored at zero, and nobody force-closes it.

Fees and burns

Opening and closing each cost 0.25% of position size. Fees go to a vault per index. Every 60 minutes the vault is split equally across members; each share buys its coin and burns it. Every round is on the burns page. Deposits are free. Withdrawals carry a 10% fee and always go to the wallet you signed in with.

Market data

Solana coins, prices, holders, liquidity, organic scores and mint and freeze audits come from Jupiter. Robinhood Chain coins come from GeckoTerminal and DexScreener. Charts come from GeckoTerminal.