Reading a Whistle coin.
A Whistle launch doesn't look like a normal launch on a trading terminal, because one wallet buys block zero for everyone. This page explains what you'll see and how to check it. The rules themselves live on the rules page.
A launch, on-chain
Every coin goes through the same four steps. All of them are public transactions from the coin's pot address.
- 01Muster10 minutes
Plain SOL payments from each wallet to the coin's pot address. No token exists yet, so there is nothing for a terminal to show.
- 02The whistle1 transaction
The pot address creates the Raydium LaunchLab pool and buys with the whole pot in the same transaction. That buy is block zero.
- 03Deliveryusually under a minute
The pot address sends every wallet its tokens, split exactly by what it put in, plus any refund over the caps. Six wallets per transaction.
- 04Feesevery 6 hours
The coin's 0.5% creator fee is claimed into the pot address and paid straight back out: two thirds to the squad, one third to the starter while they still hold their whole allotment.
When it shows up
During the muster, only on Whistle. The coin appears under Mustering now on the board the moment the start fee lands, with its countdown, wallet count and pot size. Its mint address is kept on the server until the whistle, so no terminal, bot or sniper can see it. That's the point.
From the whistle, everywhere. Whistle coins are standard Raydium LaunchLab pools, so they show up wherever LaunchLab does: Axiom (Pulse, under the LaunchLab protocol), GMGN, DexScreener and Jupiter. Name, ticker, image and links come from the coin's metadata, which Whistle hosts. Most terminals label the launchpad as LaunchLab rather than Whistle.
If it doesn't blow, nowhere. A pot that ends with fewer than 5 unlinked wallets or under 1 SOL never creates a token. Chip ins are refunded and the coin is listed on the board as refunded.
Reading it on terminals
Terminals are built to catch devs who buy their own coin in block zero and pass it to their wallets. On Whistle, that pattern is the fair part: the block zero buyer is the pot, and the wallets it passes tokens to are the squad. So the flags trip, and here's what they mean.
The coin's pot address. It isn't a person. Whistle's server holds its key, and it only ever creates the pool, buys with the pot, delivers, refunds and pays fees.
The whole pot buying at once. Every squad member's SOL is inside that one buy, at one price.
Tokens waiting to be delivered. It drops to nothing once the delivery transactions land.
The delivery transactions, one per six wallets. Each one is linked on the coin page.
The squad: the wallets that received tokens from the pot. They paid the same price as everyone else in it. Linked wallets among them were flagged by Whistle and shared one cap.
The coin's creator fee being collected. That SOL leaves the pot address again in the same run, paid to holders.
Exact labels differ by terminal and change over time. The on-chain pattern above doesn't.
Check a coin yourself
- 01Open the coin page
Find the ticker on the board, or ask the API with the mint (step 05). If the starter didn't set a website, the website link on terminals is the coin page.
- 02Match the pot address
The coin page shows the pot address. On the terminal, the dev or creator wallet should be that same address.
- 03Match the squad
The coin page lists every wallet, what it put in and the delivery transaction. Those are the wallets a terminal calls bundle or insiders.
- 04Check the price
Every squad member's tokens divided by their SOL gives the same entry price, shown on the coin page.
- 05Ask the API
Paste the mint into /api/v1/coins/mint/{mint}. If it says isWhistle true, everything above comes back as JSON.
What still matters
A fair start doesn't make a coin safe. After the whistle it trades like any other coin, so the usual checks still apply.
- Concentration after delivery. Before delivery, the pot holds the whole buy. After it, look at the real wallets. A squad of many small, unlinked wallets is healthy. A few large ones isn't.
- Fresh wallets after the whistle. Anyone can buy once the pool is live. Clusters that show up after block zero are normal trading, not part of the squad, and Whistle doesn't vet them.
- Lookalikes. Name, ticker and tweet lock on Whistle for 72 hours, and near misses get a lookalike warning on their page. Coins launched elsewhere with the same ticker aren't Whistle coins. Check the mint.
- Memecoins can go to zero. Fee payouts grow and shrink with volume and stop at graduation.
Build on Whistle
Everything on the board is public and free to read: live musters, launched coins, every squad, every delivery and every fee payout. Bots, terminals and dashboards can check whether a mint is a Whistle coin with one request to /api/v1/coins/mint/{mint}.