How a COT seat works

Minting burns 100,000 $COT and issues a Metaplex Core NFT with a vault address derived from it. The burn happens inside the mint instruction, before the NFT exists — Solana transactions are all-or-nothing, so there is no version of this where somebody gets a seat without the supply going down.

The vault is what makes it a seat rather than a picture. It holds real commodities from the book, it is owned by the NFT rather than by you, and it travels with the NFT when you sell.

A freshly minted seat earns nothing until you activate it. Press Activate on the mint page or holdings, approve the transactions, and it is done once — permanently.

Solana will not let one account hold a balance of more than one token. Each commodity needs its own account on your seat, created and rent-funded ahead of time, and the book does not fit in the same transaction as the mint. That is the only reason this is a second step.

Nothing is lost by waiting. What a seat is owed is recorded from the moment it is minted and keeps accruing whether its accounts exist or not. Rounds skip it until they do, then pay it in full.

The moment the pot clears 0.1 SOL it is spent — all of it — on whichever asset is next in the book. What it bought is split equally across every live seat. Not proportionally, not weighted by how long you have held: one seat, one share.

The book holds 9 now. Gold, silver, copper, WTI, brent, nat gas, cotton, bitcoin, and $COT itself. Nothing about $COT is privileged: it takes its turn, and a seat owns its share of it exactly as it owns a share of the gold.

The lineup follows the Commitment of Traders. When the print says commercials are most net-long gold, gold is next. The table on /report is the same table the pot reads.

Everything the protocol spends passes through one account — the pot.

The 100,000 COT deposit funds none of this. It is destroyed, it goes nowhere, and nobody receives it.

Anyone can launch a coin from the launcher. It is an ordinary pump.fun coin. The one difference is what happens to its creator fees — they are assigned to the protocol in the same transaction that creates it, and you pick one commodity at launch. Both of those are permanent.