MetPeg

Abstract

MetPeg is a Solana memecoin paired with a deterministic on-chain collectible layer. The token, $MPEG, is a standard SPL token launched through a Meteora Dynamic Bonding Curve (DBC), with no presale, no team allocation, and no transfer restrictions. Every $MPEG holder is automatically associated with a unique constellation of pixel-art “meteors” — pseudo-random pixel characters whose appearance is fully derived from the holder’s wallet address and a balance threshold.

Holders can cast a meteor as a Metaplex Core NFT into the official MetPeg Meteors collection. Each wallet is allowed exactly one mint, lifetime, and the collection is hard-capped at 300 NFTs total — once that cap is reached the mint endpoint refuses further requests forever. Rarity is automatic and tied to bag size: ≥ 0.1% of supply mints Common, ≥ 0.5% mints Rare, ≥ 1% mints Epic, ≥ 2% mints Legendary. The holder does not choose the meteor — the visual is deterministically locked to the wallet address and the tier the bag qualifies for. The resulting NFT is standard, royalty-bearing, and immediately tradeable on Magic Eden, Tensor, and any other Solana marketplace that indexes Core assets.

This document specifies the deterministic generation algorithm, the mint authorization rules, the token economics, and the long-term roadmap of the MetPeg project.

1. Introduction

Most NFT collections separate art from token. They have a token, then later announce an NFT mint, then later still announce a follow-up project. Each step introduces friction: claim pages, allowlists, snapshots, gas wars. By the end, the people most aligned with the project — the actual holders — are often the ones who miss out.

MetPeg inverts that. Buying $MPEG is the only thing required to participate in the meteor universe. Every wallet that holds the token already has a visual identity attached to it: a personalized cosmos of meteors, with rarity tiers tied to the size of the bag. Whether a holder ever decides to mint that visual as an NFT is up to them — but the link between token holding and collectible identity is automatic and computed deterministically from on-chain data.

The result is a memecoin where the brand, the community visual layer, and the collectible economy are all anchored to the same underlying asset.

2. Design Principles

• Fair launch. 100% of supply enters circulation through a public Meteora DBC. There is no presale, no team allocation, no vesting cliff, and no private round.
• Deterministic art. Every meteor is a pure function of (wallet_address, threshold). The same inputs always produce the same meteor — across time, across clients, across renderers. There is no random reveal and no curator deciding which holder gets which trait.
• Tradeable collectibles. When a holder chooses to cast a meteor as an NFT, the result is a standard mpl-core asset with on-chain royalty configuration. It can be listed, swapped, lent, or fractionalized using existing Solana NFT tooling without any custom integration.
• Bag-aligned scarcity. Eligibility to mint is gated by an economic threshold equivalent to 1 SOL of $MPEG, dynamically priced via the Jupiter aggregator. One wallet can mint exactly one meteor, lifetime. Higher balances unlock access to higher-tier meteors but never multiply mint rights.
• Permissionless transfer. Once minted, the NFT is a normal Solana asset. The token underneath is also normal. Both can move, trade, and integrate with any program in the ecosystem without our approval.

3. The Meteor Generation Algorithm

Each meteor is identified by the wallet address. The address is hashed via FNV-1a into a 32-bit seed, which feeds a linear-congruential generator. The generator produces all randomized visual choices — body color jitter, eye style, mouth, headwear, accent palette, background stars, sparkles, and the meteor’s name — in a fixed order. The rarity tier is notdrawn from the random stream; it is forced from the holder’s share of total supply at mint time (see Section 4 below). The holder cannot choose, swap, or re-roll the meteor: the visual is a pure function of the address plus its qualifying tier.

The output is rendered as a 32×36 pixel composition, pinned to IPFS as an SVG, and referenced by the resulting NFT’s metadata.

3.1. Rarity Tiers

Four tiers govern the visual richness of a meteor:

Tier is a deterministic step function of bag size. A wallet that does not meet the 0.1% floor is not eligible to mint at all. Wallets above the floor mint their best-qualifying tier — there is no probabilistic mixing, no choice, and no re-roll.

3.2. Trait System

Each meteor is composed of five orthogonal traits drawn deterministically from the seed:

• Eyes — 12 styles ranging from bigEye with a glint pixel, through lookLeft / lookRight / lookUp, surprised, sleepy, angry, knocked-out x, visor, and Legendary-only star and heart.
• Mouth — 10 expressions including neutral, smile, bigSmile with teeth, tongue out, yell, smirk, frown, and dot.
• Headwear — 10 accessory styles from no headwear at all, through caps, tufts, punk hair, antenna, plant, flame, hood, all the way up to crown and halo for the Legendary tier.
• Cheeks — a binary blush trait, increasing in probability with rarity (8% Common → 50% Legendary).
• Background— three darkness tones drawn from the meteor’s palette, plus 8 to 32 procedurally placed stars depending on rarity, plus sparkle particles for Legendary.

On top of the traits, every meteor receives a deterministic two-word name drawn from a 70-adjective × 70-noun corpus, yielding 4,900 unique combinations (cosmic witch, obsidian miner, pyrite king, etc.).

4. Mint Mechanics

4.1. Eligibility

A wallet may cast a meteor as an NFT if and only if all of the following hold at the time of the request:

• The wallet holds at least 0.1% of total supply in $MPEG. The tier of the resulting NFT (Common / Rare / Epic / Legendary) is the highest one the bag qualifies for at request time.
• The wallet’s first historical interaction with $MPEG was a swap on a DEX, not a transfer received from another wallet. Wallets whose first $MPEG tx was a transfer-in are permanently ineligible, even if they later buy more on a DEX. This is enforced server-side via the Helius Enhanced Transactions API.
• The wallet has not previously minted a meteor (verified through both an on-chain Helius DAS check against the collection and a server-side registry).
• The total number of NFTs already minted into the collection is below the hard cap of 300. After that, the mint endpoint refuses every further request, including from previously-eligible wallets.

The wallet pays only the standard Solana transaction fee (≈ 0.005 SOL). There is no separate mint price, no claim ritual, and no whitelist.

4.2. Co-Signed Transaction

The minting transaction is co-signed: the MetPegserver signs as the collection update authority and as the asset signer for the new NFT, while the holder signs as the payer. This pattern allows the user to retain custody of the transaction while the project authorises the NFT’s entry into the official collection. No private key is ever transmitted from the holder’s wallet.

4.3. NFT Standard and Royalties

Each meteor is minted as a Metaplex Core (mpl-core) asset within the single mother collection, MetPeg Meteors. The collection embeds a Royalties plugin set to 5% (500 basis points), payable to the project treasury wallet. Royalties are honored by all major Solana marketplaces that respect on-chain royalty configuration.

5. Token Economics

The bonding curve guarantees that price discovery is continuous and public from launch. There is no founder control over the curve, the supply, or the distribution. Every $MPEG in existence has been bought from the curve at the then-current price by some Solana wallet, and the cumulative purchase activity is fully on-chain.

With a fixed 300 $MPEG ceiling and a hard cap of 300 NFTs, the collection mathematically maps one-to-one with potential top holders. To mint Common, a wallet needs ≥ 0.1% of supply (0.3 $MPEG). To mint Legendary, a wallet needs ≥ 2% of supply (6 $MPEG). Because tiers are stepwise, a wallet sitting at 1.99% of supply mints Epic; one extra purchase pushing it to 2% jumps it to Legendary. This makes the rarity distribution a direct reflection of accumulation behavior rather than a separate marketing decision.

6. Trading and Marketplace Integration

Because each minted meteor is a standard mpl-coreasset within a single named collection, integration with Solana’s NFT marketplaces requires no custom indexer or special opt-in. After the first few mints, the collection address can be submitted to the Magic Eden Creator Hub for verification, banner assignment, and secondary-market listing. Tensor, ME, and most Solana marketplace aggregators discover Core collections automatically.

Royalties are configured at the collection level and apply to every secondary sale on platforms that respect on-chain royalty enforcement. The project does not charge primary mint fees beyond the network gas; revenue accrues only through secondary trading.

7. Roadmap

MetPeg is intentionally modest in its commitments. The roadmap is short and tied to milestones the project can deliver without external dependencies.

• Phase 0 — Devnet rehearsal. Generator, mint flow, and collection deployed on Solana devnet for full end-to-end validation.
• Phase 1 — Mainnet launch. $MPEG goes live via Meteora DBC. Mint button activates the moment the token is purchasable.
• Phase 2 — Marketplace verification. Submit the collection to Magic Eden Creator Hub once at least 5 to 10 mints are observed on-chain.
• Phase 3 — Community expansion. Open the trait corpus to community proposals (new headwear, new mouths, new palettes) via on-chain governance, gated by $MPEG holdings.
• Phase 4 — Long tail. Explore time-based or event-based meteor variants, tied to external on-chain events (price, volume, age) without breaking the determinism of the existing collection.

None of these phases require a token unlock, a treasury reserve, or a follow-on sale. The project commits to no further token issuance under any circumstances.

8. Risks and Limitations

• Pinata dependency. Meteor SVG and metadata are hosted on IPFS via Pinata. Should the pin expire, the image becomes unreachable through the standard gateway. The deterministic generator guarantees that the meteor can always be re-rendered byte-for-byte from the stored seed, but consumers relying solely on the metadata URI may need to re-pin or use a different gateway.
• Royalty enforcement. Royalties are honored by reputable marketplaces but are not strictly enforceable on-chain in mpl-core without additional rule-set plugins. Marketplaces that opt out of royalty respect can theoretically transact without paying the 5% fee.
• One-time eligibility. The one-mint-per-wallet rule is enforced both in a server registry and through an on-chain DAS check against the collection. A wallet that mints, then transfers the NFT to a fresh wallet, cannot mint again from the original — the registry retains the record.
• Memecoin volatility. $MPEG is a memecoin. Its price will move violently and can go to zero. The collectible layer offers no economic guarantee and should be evaluated as art and culture, not as a financial instrument.

9. Conclusion

MetPeg is a memecoin and a collectible NFT collection bound at the seed. It does not invent new infrastructure where existing infrastructure works; it does not promise a financial return; it does not gate access through allowlists or claim rituals. Anyone who holds enough $MPEG to make the bet meaningful can choose to immortalize their stake as an on-chain pixel meteor, named, traited, and tradeable across the Solana NFT ecosystem.

Hold the bag. Cast your meteor. Trade it anywhere.