Real LP entitlement
Use the pool's withdrawal accounting and the LP actually held in custody.
NOT A CLAIM ON BURNED LPLIQUIDITY CREDIT INFRASTRUCTUREBAST / PUMP · 3% FEE
GRADUATION IS NOT THE FINISH LINE.
LIQUIDITY.
UNLOCKED.
Turn eligible PumpSwap LP positions into liquidity-backed credit.
Isolated markets. Reserve-aware valuation. Risk that stays in view.
BAST / PUMP FEE3.00%
PROTOCOL CREDIT CAPITAL2.00%
LIQUIDATION BUFFER0.75%
INFRASTRUCTURE0.25%
Allocation of eligible BAST/PUMP trading fees. Lending interest, platform fees and network costs are separate.
01 / CAPITAL BEYOND GRADUATION
YOUR LIQUIDITY
HAS ANOTHER
JOB TO DO.
An LP position is an asset.
It can also be collateral.
After graduation, a liquidity provider can own transferable PumpSwap LP tokens. Bastion places eligible LP positions into program-controlled escrow and enables borrowing against a conservative collateral value.
Each market has its own capital, debt cap and liquidation rules. A problem in one pool does not automatically become another pool's liability.
Understand LP-backed creditLP tokensEscrowed collateralMarket assetDebt & settlement unit
COLLATERAL ADAPTER
Recognize the position.
Not the hype.
Verify the pool, LP mint, custody and actual withdrawal entitlement before assigning credit.
Explore the collateral modelRISK ENGINE
Credit follows
the reserves.
Conservative borrowing power, observation checks and permissionless liquidation rules.
Inspect the risk parametersISOLATED MARKETS
One pool.
One risk boundary.
Separate lending books, explicit permissions and no hidden cross-market guarantee.
Understand market isolation02 / THE CREDIT LIFECYCLE
FROM AN LP
TO WORKING CAPITAL.
A position stays in escrow while its owner borrows. The risk engine determines the room to act.
01
Escrow the LP you own.
Transfer an approved LP token into a market-specific collateral vault. The adapter verifies the actual position and pool state.
- Transferable user-owned LP only
- Burned or inaccessible LP is ineligible
- BAST/PUMP self-collateral is excluded in v1
03 / A DIFFERENT COLLATERAL LENS
LOOK THROUGH THE LP.
SEE WHAT CAN EXIT.
Physical quote reserves
The valuation model marks the volatile token leg at zero and haircuts the quote-side claim.
VIRTUAL RESERVES ARE EXCLUDEDDebt under stress
Compare accrued debt against conservative collateral as reserves and utilization change.
NO PERMANENT FLOOR VALUE05 / THE 3% CAPITAL LOOP
THE TOKEN FUNDS
THE CREDIT LAYER.
The BAST/PUMP creator fee contributes to protocol-owned lending capital, a separately accounted liquidation buffer, and infrastructure.
Follow the capital structure
PUMP RECEIPTSSEPARATE BUDGETS. EXPLICIT LIMITS.
06 / THE BORROWER'S ADVANTAGE
KEEP EXPOSURE.
CREATE OPTIONALITY.
Your position stays an LP.
Eligible LP tokens sit in a dedicated vault while the underlying position continues to follow its pool.
OWNERSHIP, VERIFIEDBorrow on your terms.
Draw credit within the market's collateral and liquidity limits. Repay principal and accrued interest to reduce exposure.
NO FIXED MATURITYSee the margin to act.
Track position health, reserve sensitivity and debt accrual from a single credit workspace.
RISK, MADE VISIBLEWhat exactly is the product?
An isolated lending protocol: eligible LP tokens are held as collateral and borrowers draw the market asset from a dedicated market. Interest, custody, valuation and liquidation are core protocol functions.
Can a creator borrow against the initial migration LP?
Only an LP token actually owned, transferable and redeemable by the borrower could qualify. Burned, locked without withdrawal rights, or inaccessible initial LP is not collateral. Later user-added liquidity must be verified independently.
Where does the 3% tax apply?
To eligible BAST/PUMP buys and sells through the configured pump.fun/PumpSwap route, under the configured 300 bps setting. It is not a fee on all loans or a universal transfer tax.
What happens if collateral falls?
Borrowing power falls, interest can increase debt, and an unhealthy position can become liquidatable. LP reserves can change quickly. Lenders and borrowers can lose funds; the reserve buffer is finite and does not guarantee recovery.
THE NEXT LAYER FOR GRADUATED MARKETS.