Security & program

Launches, vaults and the OTC escrow all run in one Solana program. These addresses are the only official ones; check them on Solscan before you sign anything.

Network

Solana mainnet

Program ID

79nCYbsLEMaeGFv3DHBSGE26ZbFrVV8879T9AudcYnvASolscan ↗

Admin

Hnbr96BjRpafwcFz5RrWxGuFCARcasCW7z4qBvo2fyDFSolscan ↗

Upgrade authority

4QMX3Q92L3aW53R4ikogSbzE2WdiWQREYAqFx6gfkLhjSolscan ↗

Treasury

5ihFB55mTA775Q3ZYaqraabR6iYJ1HYY4KzyQvcKrbDESolscan ↗

The program is upgradeable, and its upgrade authority is the one place where trust remains. It is a single wallet held by BackBid's owner (the address above), not a multisig: whoever controls that one key can deploy new program code, which could change every rule on this page, including the vault rules. Every upgrade is a public on-chain transaction; Solscan shows the current upgrade authority on the program's page.

Each launched token's OTC Liquidity Vault is a set of accounts owned by program addresses, not by a person or a company wallet. 50% of the token's SOL fees go in automatically.

• One Raydium platform config per token. Each launch creates its own platform config on Raydium's bonding-curve program, administered by a program address for that token (its launch_auth). Every fee the token earns arrives there, so the split is exact and on-chain.
• Locked against foreign launches. In the same transaction, the program restricts that platform config to Raydium's SOL config and adds a curve rule nothing can satisfy. Nobody can launch another token under it to mix their fees in.
• LP locked forever. At graduation, all of the pool's liquidity is locked in Raydium's LP lock. The fee key sits at the token's launch_auth, so only the fees can ever be claimed, and they go through the same split.
• Permissionless harvests. Anyone can trigger a fee harvest. It can only move fees into the token's vault and the treasury, in the split recorded at launch.
• No pass-through calls. Every call into Raydium is built inside the program with pinned program IDs and accounts. Callers can't swap in their own.

Vault trades use the time-weighted average price (TWAP) of the token's Raydium pool over 20 minutes, read on-chain from the pool's own price history on every trade. There's no stored price and no price feed that anyone updates.

• Pumps in one transaction don't count. The pool records the price that held before each swap, weighted by how long it held. A pump and dump inside one transaction or bundle adds zero weight to the average.
• Moving spot only hurts the mover. The bid uses the lower of TWAP and spot, and the ask uses the higher. Pushing the price right before a vault trade can only make that trade's price worse for whoever pushed it.
• Price guard. Vault trades are refused while the spot price is more than 15% away from the TWAP (default).
• Moving the TWAP is public and costly. It means holding a distorted pool price for a large part of the window, where anyone can trade against it.
• No trading on the curve. The bonding curve has no price that resists manipulation, so vault trades only open after graduation.

Fixed-price OTC offers and funded buy requests, for any token that passes the program's token checks.

Offer lifecycle

1. 1

   Listed

   The seller locks tokens in escrow and sets one price per token, a minimum buy and an end date.

2. 2

   Partially filled

   Buyers take any amount from the minimum up to what is left, at the same price.

3. 3

   Sold out

   Everything is bought. The offer closes and the deposit goes back to the seller.

4. 4

   Cancelled

   The seller cancels. Unsold tokens and the deposit return in the same transaction.

5. 5

   Ended

   The end date passes with tokens left. Nobody can buy any more.

6. 6

   Reclaimed

   The unsold tokens and the deposit go back to the seller. Anyone can trigger this after the end date; the tokens can only go to the seller.

• A vault may not be able to buy. Its per-sale limit, daily budget, SOL reserve, inventory cap, the price guard, a pause, or a token that hasn't graduated can each stop it. Vault prices are formula-based, not a promise.
• Raydium is a dependency. Launches, the curve, graduation and the pool are Raydium programs. A bug, change or outage there affects BackBid tokens.
• Tokens with an active freeze authority can't be listed OTC. The creator of such a token could freeze your tokens after you buy, so you couldn't sell them.
• Some Token-2022 tokens can't be listed OTC. Tokens with a permanent delegate, a transfer hook, a transfer fee, confidential transfers, a pause switch, or any extension the program doesn't know are rejected, and so are non-transferable tokens.
• Tokens whose accounts start frozen can't be listed (Token-2022 default account state "frozen").
• OTC payment is SOL or USDC only. SOL and USDC are the only payment tokens the escrow accepts.
• OTC prices aren't checked. Sellers set any price. Each offer shows how it compares with the market price; above market means you'd pay less on a DEX.
• Hiding is website-only. BackBid can hide reported offers or tokens on this site, but it can't touch escrowed tokens or vault funds.
• Transactions are final. Nobody can reverse a completed trade, including BackBid.

• No keys held. BackBid never holds your private key or seed phrase. Your wallet signs every transaction.
• Transactions are built and simulated by our API. You get an unsigned transaction and a review with the simulated result before your wallet asks you to sign.
• The Raydium SDK runs only on our server. It is never loaded in your browser; the site only handles the unsigned transaction the API returns.
• Sign-in with Solana. Signing in asks your wallet to sign a free message that names backbid.fun. It isn't a transaction and can't move funds.
• Strict content security policy. The site only runs its own scripts and styles, so injected code is blocked by the browser.