Fees, worked through
A coin does 40 SOL of volume and earns 0.38 SOL in creator fees. 0.19 SOL is yours to claim on pump.fun. The other 0.19 SOL goes to the PSI treasury.
The treasury now holds 0.21 SOL. At the next buyback (every 60 minutes) it keeps 0.02 SOL for network fees, spends 0.19 SOL on $PSI and burns all of it.
Keypairs, worked through
Three quantum keypairs are waiting and two people launch at the same moment: each gets a different one.
One walks away, and their keypair goes back after 2 minutes, unused. The other's coin lands: that keypair is spent for good, its seed goes public, and Verify matches the CA.