The Phoenix Manual

01 What Phoenix Is

Phoenix is a Telegram trading bot for Solana. It gives every user a custodial wallet on first contact, then lets them buy, sell, and swap any Solana token, open leveraged positions, set limit orders and price alerts, launch a coin of their own, and earn a share of platform revenue by holding $PHNX, all from a chat window.

There is no separate app to install and no external wallet to connect for trading: the bot creates and holds an encrypted wallet per user, and every command operates on it directly.

Phoenix is one half of a business. The other half is Pyre, a launchpad that runs on the same treasury and the same wallet. Pyre creates the coins, Phoenix trades them, and fees from both sides pay $PHNX holders. A coin launched there can be traded with leverage by the same engine, which is something no other Solana launchpad offers. See Token Flywheel for the loop, Pyre Launchpad for the product, and Pyre and $PHNX for every place the two touch.

02 The Problem

• Setup friction: most Solana trading tools require a separate wallet, a browser extension, and manual token lookups before a single trade.
• Leverage is scattered: memecoin leverage, major-asset perpetuals, and spot swaps usually live on different platforms with different accounts.
• New tokens are dangerous: brand-new contract addresses are where the upside is, and also where honeypots, rugs, and unexitable pools live. Most bots either block them entirely or wave everything through.

03 The Solution

One Telegram bot, one custodial wallet, every trading surface:

Every trade, regardless of surface, passes through the same fail-closed safety pipeline before it can open. If a safety check cannot get its data, the trade is refused, never waved through.

04 Quick Start

1. Open the bot: @PHNXTrading_Bot and press /start. Your encrypted wallet is created automatically.
2. Deposit SOL: tap Wallet, copy your address, send SOL to it. Keep at least 0.02 SOL as a gas reserve; 0.1 SOL+ is recommended to trade comfortably.
3. Trade: paste any token ticker or contract address, or use /buy TOKEN AMOUNT. Quotes route through Jupiter.
4. Go leveraged: /long, paste a contract address, pick 2x or 3x, pick your margin, confirm. Full economics are shown before anything moves.
5. Launch a coin: /pyre_create walks you through a launch step by step, or use the form at pyre.phnx.trading/launch. Your coin is tradable the moment the curve opens.
6. Cash out: /withdraw sends SOL to any address you choose, with no platform withdrawal fee.

05 Bot Commands

Commands that move funds or expose wallet state run only in a private chat with the bot. Using them in a group redirects you to DM.

06 Spot Trading Live

Buy or sell any Solana token by pasting a ticker or a raw contract address. Quotes and routing come from Jupiter with an automatic Raydium fallback, so pricing reflects the best available route across Solana's liquidity even when one aggregator is congested.

• Honeypot protection: before a buy executes, Phoenix simulates the sell route. If a token can be bought but not sold back, the buy is refused.
• Dynamic slippage: user swaps use Jupiter's dynamic slippage so fast movers do not revert unnecessarily while quiet pairs stay tight.
• Trade settings: /settings controls priority fee level (fast / turbo / custom), MEV protection, and whether trades ask for confirmation.
• Portfolio management: /portfolio shows every holding with one-tap buy-more and partial-sell buttons (25 / 50 / 75 / 100%).

07 Limit Orders & Price Alerts Live

Limit orders buy a token automatically when it reaches your target price. Orders are checked every 30 seconds, stay active for 7 days, and can be cancelled any time with /cancel_order.

Price alerts notify the chat where they were set, in DM or in a group, when a token crosses an absolute price or moves by a chosen percentage. Alerts have a 15-minute cooldown so a choppy chart does not spam you.

08 Leverage Longs Live

Memecoin longs are treasury-fronted: the platform fronts the leveraged portion of the position and the trader posts margin in SOL. Your maximum loss is always your margin, never more. Any pasted contract address can be longed once it clears the Token Filter.

Positions are monitored continuously. Manage them any time from /positions: live PnL, partial closes at 25 / 50 / 100%, and the risk controls below.

09 Take-Profit, Stop-Loss & Trailing Stops Live

Every leverage position can carry three automated exits, set on the confirmation card before you open or added later from /positions. All three are expressed as a percentage of your margin PnL.

When any automated exit triggers, the position closes and you get a DM with the full economics of the close.

10 Majors on Drift Not yet enabled

This route is built and switched off. The bot will refuse a majors position today; what follows describes how it works when it is turned on. Everything else in this section is accurate, and the badge changes with the flag rather than with the plan.

SOL, BTC, and ETH positions route to Drift v2 perpetuals. The trader posts collateral directly into their own Drift subaccount and Drift is the counterparty, not Phoenix; the platform fronts nothing on this path. Twelve large memecoins with real Drift perp markets (WIF, BONK, POPCAT, PNUT, FARTCOIN, MOODENG, GOAT, PENGU, TRUMP, MELANIA, PUMP, MEW) ride the same rail.

11 Pyre Launchpad Live

Pyre is Phoenix's own token launchpad, live on Solana mainnet at pyre.phnx.trading. A coin opens on a Raydium bonding curve, trades against that curve until it raises its target, then graduates into a real Raydium pool and trades there like any other Solana token. Anyone can launch one, with no application and no approval. Phoenix runs the curve, the trading, the fee collection, and the leverage on top of it.

Every preset mints 1,000,000,000 tokens at 6 decimals and sells 79.31% of that supply on the curve. The 20.69% that is never sold, plus the SOL the curve raised, is what seeds the pool at graduation. Of the LP tokens that pool issues, 90% are locked and 10% are burned. The locked share is held by Raydium's lock program, which ships instructions to lock and to collect fees and none at all to unlock, so nobody can withdraw it, Phoenix included. What it earns is collected and split with the creator, which is why the larger share is locked rather than burned: a burned pool's fees are earned by nobody.

• Mint and freeze authority are revoked in the same transaction that creates the coin, before the first buy. There is no window in which anybody, creator or Phoenix, could print extra supply or freeze a holder's tokens.
• Phoenix reads the mint back off the chain after the curve opens and publishes what it actually found. A coin that has not been read yet says exactly that, rather than showing a tick it has not earned.
• No team allocation, and the creator's own first buy is capped at 5 SOL so the opening distribution stays closer to what a curve is for.
• Every mint address ends in phnx, ground at launch. That is the first of the connections in section 23.

12 Launching a Coin Live

Two routes, same launchpad. /pyre_create in a DM with the bot asks for each field in turn and signs with your custodial Phoenix wallet. The form at pyre.phnx.trading/launch asks for them on one page and is signed by your own browser wallet, which Phoenix never holds a key for.

A launch needs six things: name, ticker, a one line description, an image, a curve preset, and how much SOL your first buy should be. One transaction then creates the mint, writes the metadata into it permanently, gives up both authorities, opens the curve, and executes that first buy, so there is no moment at which the launch can be sniped.

What a launch costs

• Your first buy, whatever you chose, up to the 5 SOL cap.
• Fees on that buy at the standard 1.50%, of which 0.50% comes straight back to you.
• Solana network fees and account rent, a fraction of a SOL.

Phoenix pays for the permanent metadata storage. There is no listing fee and no launch fee beyond the above.

What a creator earns, before and after graduation

Graduation does not end a creator's income, it changes its shape. The 0.50% curve fee stops because the curve is finished; the pool it migrated into keeps earning, Phoenix collects those fees on the locked liquidity, and half of what is collected goes back to the creator. There is no vesting on either side.

A scheduled auto-claim was considered and deliberately rejected: Phoenix custodies creator wallets, so a scheduler would mean Phoenix signing transactions with your wallet, on a timer, without you asking. Running a command yourself is the price of not having that.

13 Leverage on Pyre Coins Live

This is the part no other Solana launchpad has. Phoenix already runs a leverage engine, so a Pyre coin can be longed rather than only bought, both while it is still on its curve and after it graduates. The two are separate tiers with separate rules, and both are small on purpose.

Those caps exist because a small pool is cheap to move. They are floors and ceilings on the trade, not a claim that the coin is safe. A graduated coin that clears the full token filter ($10,000 liquidity, $18,500 market cap, the holder concentration limits) is admitted on the ordinary rules instead, with the ordinary sizes.

• Age is never a gate. Leverage on freshly launched coins is a first-class use case here. What blocks a position is depth and distribution, both measured live at the moment you try to open, not anything recorded at launch.
• Every check fails closed. If the data needed to answer one of them cannot be fetched, the coin is refused rather than admitted on the benefit of the doubt.
• A curve position closes at graduation. Graduation replaces the price source and can gap, so a position on the curve is settled at the final curve mark rather than carried into the pool.

14 The Token Filter

Every token must clear these checks before a leveraged position can open on it. The numbers are live platform settings, published here exactly as enforced.

15 Risk Profile

Passing the filter gets a token in the door; these caps then bound how much risk any single position, wallet, or the platform as a whole can carry.

If a token is technically eligible but too thin to support even 1.5x on your chosen stake, the keyboard simply will not offer the trade.

16 Liquidation Model

Memecoin longs liquidate against the platform's own continuous price monitoring. The liquidation trigger is dynamic: at least an 85% loss of margin, tightened further on thin tokens so the position always closes while the treasury's fronted capital can still be recovered from the pool. Automated exits (TP / SL / trailing) are evaluated on the same sweep.

Majors positions liquidate on Drift's own engine, since Drift holds the collateral directly. In every case, a trader's maximum loss is fixed at what they posted; the position simply closes once the threshold is reached, and you are notified by DM.

17 Wallet Model

Majors trades never touch the treasury: collateral goes straight to the trader's own Drift subaccount.

18 Trade Execution Flow

1. Paste a token, ticker or contract address.
2. The Token Filter runs automatically against live market data.
3. Pick leverage from a keyboard that only offers what the token's live liquidity actually supports.
4. Pick a stake from the allowed range, and optionally arm TP / SL / trailing right on the confirm card.
5. Confirm: the full economics (stake, leverage, position size, fees, liquidation level) are shown before anything moves.
6. Manage the position from /positions: live PnL on demand, partial closes at 25 / 50 / 100%, and one-tap risk controls.

19 Security Model

• Encryption: every wallet's private key is encrypted with AES-256-GCM.
• Key derivation: each user's encryption key is derived independently via HKDF, so no two users share a key.
• DM-only guard: commands that move funds or expose wallet state only run in a private chat with the bot, never in a group.
• Key export discipline: /export requires typing CONFIRM and the message self-destructs after 90 seconds.
• Signed buttons: every leverage button press is HMAC-signed, so a forwarded or tampered keyboard cannot act on your positions.
• Fail-closed rate limiting: financial actions are rate-limited per user; if the limiter itself is unreachable, the action is refused rather than allowed through.
• Honeypot screen: spot buys are simulated as sells first; unsellable tokens are refused.

20 Fee Structure

There are no subscription tiers, no deposit fees, and no markup hidden in quotes: the fees above are the complete list.

The 1.50% curve fee is one fee split four ways, and three of the four legs are written on Pyre's platform configuration account on chain, where anyone can read them:

1.25% is the floor and there is no fee-free trade on Pyre. Phoenix can waive its own service fee for a holder; it cannot waive the creator's 0.50%, its own platform 0.50%, or Raydium's 0.25%, because those are set on chain and cannot vary from one trader to another. Only the service fee moves at the time of the trade. The other three accumulate on chain and are claimed later.

21 $PHNX Token Minted

$PHNX is Phoenix's platform token, minted on July 19, 2026 after the presale closed. Holding it is what earns the weekly revenue share.

22 $PHNX Revenue Share Live

A portion of Phoenix's leverage trading profit is set aside for PHNX holders and paid out weekly, proportional to how much of the total supply you hold.

The holder revenue share is one slice of a single revenue pot. Every profitable trade feeds that pot, and it is split by one fixed table:

23 Pyre and $PHNX

Pyre is not a side project that happens to share a logo. Every part of the launchpad has a leg back into $PHNX, and this section is that list in one place, with what is live and what is not marked honestly.

1. The address itself Live

Every coin launched on Pyre is ground to a mint address ending in phnx. It is not a label anyone can revoke or a field in a database: it is the coin's permanent address, on chain, for as long as the coin exists. A grind that times out falls back to a plain keypair rather than blocking the launch, and the launch board says which coins got it rather than claiming all of them did.

2. Holding PHNX makes trading Pyre cheaper Live

A wallet holding 1,000,000 PHNX pays 1.25% on a curve trade instead of 1.50%: Phoenix drops its own 0.25% service fee entirely. It is applied automatically from the balance in the wallet you trade with, with nothing to claim or activate, and if the balance lookup fails you are charged the base rate rather than overcharged.

This ladder is separate from the spot ladder, which starts at 0.85% and begins discounting at 5,000,000 PHNX. They are deliberately not merged: adding a 1,000,000 tier to the shared table would cut spot fees for every existing holder as a side effect.

3. Leverage is the connection that matters most Live

A launchpad coin being longable is the thing Pyre has and other launchpads do not, and the only reason Pyre has it is that Phoenix already runs a leverage engine. That engine is funded by the leverage pool, and the pool's profit is what pays the holder revenue share. So a leveraged position opened on a Pyre coin generates fees into exactly the same pot as a leveraged position on any other token, and the same 24.5% slice of it reaches PHNX holders.

The causation runs both ways, which is the point. PHNX pays for the engine; the engine is what makes launching on Pyre worth more than launching elsewhere; the coins that launch there feed the engine.

4. Launchpad revenue buys PHNX on the open market Live, first payout pending

A scheduled job sweeps a slice of Pyre's launchpad revenue, buys PHNX with it on the open market daily, and pays that PHNX out weekly to holders of $PYRE, the launchpad's own coin. It is the most direct link of the four: launchpad volume becomes real PHNX buy pressure rather than a promise to buy some later.

The sweep and the daily holder snapshot are running. No weekly payout has executed yet, so nobody has received anything from it, and this page will say Live without qualification when one has. The minimum to qualify is 100,000 $PYRE.

5. $PYRE launched on Pyre Live

$PYRE was launched through the launchpad itself on 15 August 2026, on the Quick preset, and graduated to its Raydium pool three days later. It paid the same fees, took the same first buy cap, and had its authorities revoked in the same transaction as any other coin. Mint jqMsCpw7omsRmfnhTJvtWeZQJp1LeiUQ23gzeqaphnx.

6. One treasury, not two Live

Phoenix's 0.50% platform fee on every curve trade, and the pool fees it collects on locked liquidity after a coin graduates, land in the same treasury as the swap fee and the leverage fees. There is no separate launchpad treasury and no separate launchpad token economy.

24 Token Flywheel

Pyre and Phoenix are not two businesses that happen to share a brand. They are one loop, and each stage pays for the next. This is the whole thing, in order.

The loop closes because paid holders are the people most likely to launch and trade the next coin. It is also why the treasury matters more here than on a venue that never takes the other side: the treasury is the reason a coin that is an hour old can be levered at all, and the fees from both products are what keep it funded.

A second return path is built but not switched on: fees buying $PHNX on the open market and burning it permanently, with human approval on every burn. Track burns with /burns once the first one executes.

25 What You Can Earn

A creator keeps 0.50% of every trade on their coin, for as long as it lives. That is arithmetic rather than a projection, so it is given here as a number you can move. Drag the market cap and read the fee off the other side.

Against the other launchpads

The creator share decides what launching is worth to you, and it is the number launchpads discuss least.

Rates as published on 18 August 2026, and launchpad fee schedules change often. Pump.fun's 0.30% is the bonding-curve rate; after graduation its total fee tapers with size. BonkFun's BONK Classic line pays creators nothing and routes most of its 0.30% back into liquidity, which is a real trade-off rather than a worse deal: a cheaper coin to trade, and nothing for the person who made it. Pyre pays a creator two thirds more than Pump.fun on the same volume, and it is the only one of the three where the coin can be traded with leverage before it graduates.

Against the other bots

Phoenix is a Telegram bot, so the fair comparison is the other Telegram bots. We are not the cheapest venue on Solana and do not claim to be.

Published rates on 18 August 2026, before referral discounts and cashback, which several of these offer and which can move the effective rate either way. Phoenix undercuts the Telegram bots it actually competes with, and costs more than a web terminal. What the web terminals do not do is lend you the other two thirds of a position on a coin that launched this morning, or pay you a share of the fees for holding the token. That is the trade, stated plainly, and 0.85% is the whole of it: no subscription, no deposit fee, no withdrawal fee, and no markup inside the quote.

26 Affiliate Program Live

Communities and influencers can run a partner code: users who enter it with /ref <code> are attributed to the partner, who earns a negotiated share of the leverage fees their community generates. Attribution is first-code-wins and permanent.

Want a code for your community? Reach out in the Phoenix Telegram.

27 Leaderboard & Live Feeds

• Trader leaderboard Live: realized PnL rankings with a weekly winner, published at phnx.trading/leaderboard. Handles are masked; nobody's wallet is exposed.
• Live trades feed Live: every position opened on Phoenix is posted, anonymized, to the Live Trades topic in the Phoenix Telegram.
• PnL cards Coming back: shareable trade cards for X, temporarily offline for a redesign.

28 Phoenix in Groups

Phoenix is multi-tenant: add the bot to any Telegram group and it serves that community with its own configuration, with zero state bleed between groups.

• Setup: /setup (group admins) configures engagement level, personality tone, and the community's own token contract.
• Group alerts: price alerts set in a group fire in that group, so the whole community sees the move.
• Trending & quick-buy: /trending works in groups; buy buttons deep-link each member to their own DM to execute safely.
• Announcements: group admins can broadcast with /broadcast (rate-limited, preview-then-confirm).
• Spam defense: contract-address spam from non-admins is auto-deleted.