rules
Rules, how it works, FAQ
Rules summary
If a squad ranks 1st on pump.fun's Squads Competition leaderboard when it closes on Monday, November 9 2026, 14:00 UTC, Yes shares on that squad pay 1 SOL each and every other Yes pays 0. No shares pay 1 SOL each on every squad that does not finish 1st.
Ranking is pump.fun's: total spot PnL, realized plus unrealized; perps excluded. Squads without their own line trade as the Field, which wins if any of them finishes 1st. Trading stops at the close. Settlement follows pump.fun marking the competition final.
Treasury
Published when betting opens.
How it works
Three steps, all on Solana
- 01
Connect Phantom
Any Solana wallet works: Phantom, Solflare, Backpack. Nothing to sign up for.
- 02
Buy a squad
Pick a squad, enter SOL, approve one transfer. Your shares are priced by the market maker and credited once the deposit confirms on chain.
- 03
Sell or collect
Sell back at the live price any time before the final bell, or hold. When pump.fun posts the final board, each winning share pays 1 SOL.
FAQ
Before you bet
Where do the squads and odds come from?
Squads, rosters and PnL come from the public pump.fun leaderboard. The opening price blends each squad's 1 day, 7 day and 30 day spot PnL with roster size. After the first bet only trades move prices, the way exchange prices work.
What is the Field?
pump.fun only publishes the top 100 squads per board. Registered squads outside every top 100 trade together as one outcome called the Field. If any of them wins, Field shares pay out.
How is the winner decided?
By pump.fun's final Squads Competition leaderboard at Monday, November 9, 14:00 UTC: highest total spot PnL, realized plus unrealized. Perps do not count. We settle to whichever squad pump.fun ranks 1st.
What do Yes and No mean?
Yes on a squad pays 1 SOL per share if it finishes 1st. No pays 1 SOL per share if it does not. Yes and No prices always add up to 100¢.
Can I cash out early?
Yes. Selling returns SOL at the current price minus the fee. Prices can fall as well as rise, so you may get back less than you paid.
What does it cost?
A 2% fee on every buy and sell, shown in the bet slip before you sign. Solana network fees are a fraction of a cent.
Why do prices move when I bet?
An automated market maker (LMSR) quotes every trade. Buying a squad raises its price and lowers every other squad's, so prices always add up to 100%. Bigger bets move the price more.
Who holds the SOL?
In this version bets go to a treasury wallet and payouts are sent from it, with every transfer visible on Solscan (address in the Treasury section above). A non custodial on chain escrow program is the next milestone.
Is TrenchMarkets part of pump.fun?
No. TrenchMarkets is independent and reads pump.fun's public data. It is not affiliated with or endorsed by pump.fun.