Protocol
Certification
Certification is how PrimerPad decides whether a candidate mint can be the quote asset of a market. It reads the mint, asks the deployed Meteora program directly, links every lifecycle stage to an executed proof, and measures whether the market around the asset can support a launch.
The certification pipeline
Run with primer certify <MINT|symbol|all> --network mainnet. Each stage reports PASS, WARN or FAIL. Lifecycle stages (buy, sell, fee claim, migration, DAMM v2) only pass when an executed proof for that mint exists. Select an asset to see its live result.
- Candidate mintUSDX
- Mint existsPASS
detail
found on mainnet
- Token programPASS
detail
spl-token (TokenkegQfeZyiNwAJbNbGKPFXCWuBvf9Ss623VQ5DA)
- DecimalsPASS
detail
6 decimals
- Token extensionsPASS
detail
none
- TransferabilityPASS
detail
plain transfers, no fee, no hook
- Freeze / pauseWARN
detail
freeze authority 3ZUZ29kv6q9s9hS2AdFBFG1LbpYSrwb1Cko35Ada95iC can freeze pool vaults
- Meteora DBC compatibilityPASS
detail
static rule: SPL Token mints are always permissionless DBC quotes
- TokenBadgePASS
detail
not required: SPL Token mints are always permissionless DBC quotes
- Buy / sellPASS
detail
proven on fork:morttest-usdx
proven on fork:morttest-usdx
- Fee claimPASS
detail
proven on fork:morttest-usdx
- MigrationPASS
detail
proven on fork:morttest-usdx
- DAMM v2PASS
detail
permissionless DAMM v2 mint
proven on fork:morttest-usdx
- Supply feasibilityPASS
detail
production graduation needs 13435.470718 USDX (~$13441) = 0.9% of total on-chain supply (1418143.539344)
- Routing / liquidityWARN
detail
SOL->quote $100 route via HumidiFi>Raydium CLMM impact 0.02%
price $1.0004, DEX liquidity $1723, 24h vol $6282, holders 179, organicScore 0
- Primer certification resultCERTIFIED WITH WARNINGS
| Stage | What is checked |
|---|---|
| Mint, program, decimals | Account exists; owned by SPL Token or Token-2022; decimals match the registry. |
| Token extensions | Full Token-2022 extension list with settings (transfer fee, hook program, permanent delegate, default state, pausable, scaled UI). |
| Transferability | Non-zero transfer fee, active transfer hook, non-transferable, or paused mint fail. |
| Freeze / pause | Freeze authority, permanent delegate, pausable and default-frozen state are reported as issuer controls. |
| Meteora DBC compatibility | The deployed DBC program simulates a Primer Standard createConfig for this quote mint (no keys, nothing broadcast). |
| TokenBadge | Whether DBC requires a badge (rule replicated from the program) and whether Meteora issued one. |
| Buy / sell, fee claim, migration, DAMM v2 | Linked to executed proofs: public networks first, then fork. |
| Supply feasibility | Standard graduation target vs circulating Solana supply. |
| Routing / liquidity | Jupiter SOL route and DEX liquidity. Failures here limit launch quality, not engine compatibility. |
Meteora TokenBadges
DBC accepts a quote mint without further permission only if it is an SPL Token mint, or a Token-2022 mint whose only extensions are MetadataPointer and TokenMetadata and whose transfer fee is zero. Any other Token-2022 mint needs a DBC TokenBadge account: a PDA seeded by ["token_badge", mint] that only a Meteora operator can create. A non-zero transfer fee is rejected even with a badge. SOURCE CODEis_supported_quote_mint, validate_quote_mint_with_token_badge
if mint.owner == Token::id() { return Ok(true) } // SPL Token: always allowed
require!(is_transfer_fee_zero(mint), QuoteMintHasNonZeroTransferFee)
for e in mint.extensions {
if e != MetadataPointer && e != TokenMetadata { return Ok(false) } // needs a TokenBadge
}DBC TokenBadge present
badge PDA 4JyDa3…JArU8W (created by Meteora, 2026-09-09)create_config succeedsfull lifecycle proven on the mainnet forkNo TokenBadge account
same mint bytes, badge account absentAnchorError InvalidTokenBadge (6080)negative control, fork evidenceThe Ondo GM tokens carry ScaledUiAmount, Pausable, DefaultAccountState, ConfidentialTransferMint and an empty TransferHook, so each needs a badge. Meteora created badges for all four on mainnet on 2026-09-09; certification verifies the badge PDA exists, is owned by the DBC program and names the right mint before the Primitive is enabled.
DAMM v2 at migration
DAMM v2 has its own TokenBadge rules, but the DAMM v2 configs used by DBC migration carry the CreatePoolWithoutMintValidation permission, so a quote mint accepted by DBC can migrate. SOURCE CODE LIVE CHAIN READconfig A8gMrE… permission = 1
Real certification results
LIVE CHAIN READmainnet, via Helius Engine compatibility and launch availability are reported separately.
| Primitive | Issuer | Mint | Standard | TokenBadge | Engine | Routing | Supply | Availability |
|---|---|---|---|---|---|---|---|---|
| U.S. Mortgage Credit (USDX) | Stable | 9Gst2E…nkCFhA | spl-token | not required | CERTIFIED | PASS | HEALTHY 1.0% | INTEGRATION |
| Japan (EWJon) | Ondo Global Markets | C6c7Vc…wPondo | token-2022 | required, present | CERTIFIED | FAIL | LIMITED 172.2% | LIMITED |
| U.S. Housing Market (VNQon) | Ondo Global Markets | F3dMJ9…5Uondo | token-2022 | required, present | CERTIFIED | FAIL | UNSAFE 456.1% | LIMITED |
| Long Treasuries (TLTon) | Ondo Global Markets | KaSLSW…Z9ondo | token-2022 | required, present | CERTIFIED | WARN | HEALTHY 11.3% | INTEGRATION |
| High Yield Credit (HYGon) | Ondo Global Markets | c5ug15…j7ondo | token-2022 | required, present | CERTIFIED | FAIL | UNSAFE 12328.3% | LIMITED |
| S&P 500 (SPYx) | Backed Finance (xStocks) | XsoCS1…BbDF2W | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.0% | INTEGRATION |
| Nasdaq-100 (QQQx) | Backed Finance (xStocks) | Xs8S1u…WAmWHZ | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.0% | INTEGRATION |
| U.S. Total Stock Market (VTIx) | Backed Finance (xStocks) | XsssYE…45cDr9 | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| U.S. Small Caps (IWMx) | Backed Finance (xStocks) | XsbELV…vFTFu3 | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.2% | INTEGRATION |
| South Korea (EWYx) | Backed Finance (xStocks) | XswenH…DPS1Yo | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| Brazil (EWZon) | Ondo Global Markets | CBKcmE…9Pondo | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 7.3% | INTEGRATION |
| China (FXIon) | Ondo Global Markets | CeFbGY…5vondo | token-2022 | required, present | CERTIFIED | N/A | LIMITED 27.0% | LIMITED |
| India (INDAon) | Ondo Global Markets | DBNwt3…Fzondo | token-2022 | required, present | CERTIFIED | N/A | LIMITED 136.4% | LIMITED |
| Germany (EWGx) | Backed Finance (xStocks) | XsM51P…R6WXi9 | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| United Kingdom (EWUx) | Backed Finance (xStocks) | XsbWCM…GWfDQ8 | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| France (EWQx) | Backed Finance (xStocks) | Xs1neE…mVAQde | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| Europe (VGKx) | Backed Finance (xStocks) | XsosCA…HYzvbN | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| Emerging Markets (IEMGx) | Backed Finance (xStocks) | XsFnZa…afpfHs | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| Developed Markets ex-U.S. (SCHFx) | Backed Finance (xStocks) | XsWAnF…WddzhU | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.0% | INTEGRATION |
| U.S. Treasury Bills (TBLLx) | Backed Finance (xStocks) | XsqBC5…w7QEKp | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.1% | INTEGRATION |
| Intermediate Treasuries (IEIon) | Ondo Global Markets | wuzf2F…Uyondo | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 7.1% | INTEGRATION |
| U.S. Single-Family Rentals (INVHx) | Backed Finance (xStocks) | XsQFmC…MorJs7 | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.3% | INTEGRATION |
| West Coast Apartments (ESSx) | Backed Finance (xStocks) | XsZsYW…Agx47N | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.2% | INTEGRATION |
| Sun Belt Apartments (CPTx) | Backed Finance (xStocks) | XsvoRX…zYw2BT | token-2022 | required, present | CERTIFIED | N/A | HEALTHY 0.3% | INTEGRATION |
| Treasury Yield Dollar (USDY) | Ondo Finance | A1KLoB…7sEto6 | spl-token | not required | CERTIFIED | N/A | HEALTHY 0.0% | INTEGRATION |
| Private Credit (syrupUSDC) | Maple Finance | AvZZF1…eaZeUj | spl-token | not required | CERTIFIED | N/A | HEALTHY 0.0% | INTEGRATION |
EWJon is the clearest example of why the two fields exist. It passes engine certification and its full lifecycle is proven on the fork, but its current Solana inventory makes the standard graduation profile unsuitable, so it remains operationally limited until inventory grows or a scaled profile is used. That is a market constraint, not an engine one. See graduation feasibility.
Issuer control risk
Tokenized financial assets are not SOL. Several carry issuer-level controls that can affect a live market. Certification detects them; operations decide availability.
| Control | Present on | Effect on a PrimerPad market |
|---|---|---|
| Freeze authority | USDX, EWJon, VNQon, TLTon, HYGon | The issuer can freeze a pool quote vault, halting swaps and claims for that market. |
| Pausable | EWJon, VNQon, TLTon, HYGon | The issuer can pause all transfers of the mint, including every pool swap. |
| Empty TransferHook slot | EWJon, VNQon, TLTon, HYGon | If a hook program is enabled later, DBC swaps for that quote fail (DBC has no quote-side hook support). |
| Eligibility / KYC | Ondo GM tokens | Ondo tokens are not offered to U.S. persons; acquisition and redemption follow Ondo eligibility rules. |
| ScaledUiAmount | EWJon, VNQon, TLTon, HYGon | On-chain amounts are raw; the UI must apply the mint multiplier. |
If an issuer's controls change (a pause, a new hook), the Primitive moves to PAUSED and PrimerPad stops offering launches against it. See failure modes.
See also: Registry, Meteora integration, Glossary: TokenBadge