Trading
Markets
A market is one pump.fun token. Only tokens that finished their bonding curve and are worth more than $100K can be traded.
Which tokens
A token can have a market on Tausen when all of these are true:
- It finished its bonding curve on pump.fun and moved to its PumpSwap pool. Tokens still on the curve can’t be listed.
- Its canonical PumpSwap pool exists and is priced in SOL or PUMP. Only that pool is used: anyone can create thinner pools for the same token, and Tausen ignores them.
- Its market cap is at least $100K (pool price × total supply).
- It isn’t listed already.
Anyone can list a token that meets these rules; see Opening a pool. Whether a token’s pool is priced in SOL or PUMP is handled for you: prices are always shown in dollars.
When a market pauses
If a listed token’s live market cap falls under $100K, the market stops taking new positions and shows Paused. Open positions are untouched: you can always close them, and liquidations keep running. The market reopens by itself when the market cap is back over $100K.
What a market shows
| Figure | What it is |
|---|---|
| Price | The price on screen: the last finished Solana slot’s price from the token’s PumpSwap pool, in USD. |
| 24h change | Tausen’s own: the price now against the stored price 24 hours ago. A market younger than a day says “6h change” and so on. |
| 24h volume | Tausen’s own: the size of every position opened or closed in the last 24 hours. |
| Market cap | Price × the token’s total supply. |
| Liquidity | The real money in the token’s PumpSwap pool: twice its quote reserves in USD, without fees waiting in the vault. |
| Payout pool | The token’s own pool on Tausen, which pays this market’s winners. |
| Open interest | The size of the open longs and shorts. |
Verified
Some markets carry a Verified badge. The Tausen team grants it by hand; it says nothing about liquidity or price, and an unverified market follows exactly the same rules.