mhash
Launch any coin paired with XMR. Hold it, and get paid in Monero.
Mhash is a launchpad built around Monero. Every coin launched here is created on pump.fun and paired with XMR automatically, from its first trade. You buy in with SOL, and a share of every coin's creator fees is paid to its holders in XMR, straight to the wallet that holds the coin.
Abstract
Monero has kept every transaction private since 2014. There is no public mode to opt out of: the sender is hidden among decoys, the recipient receives at a one-time address, and the amount is sealed in a commitment. Mhash ties a coin launchpad to it. Each coin is created on pump.fun with its liquidity paired against XMR, set automatically with no option to change it, so every coin's price is an XMR price. Buyers pay with SOL, which is routed into the XMR pair. A share of every coin's creator fees is set aside for holders, distributed by how much they hold and how long they have held it, and paid in XMR straight to the wallet that holds the coin. Holders are rewarded in the currency built for privacy, with nothing to claim and nothing to sign up for.
Most chains are public, and privacy is something a user has to switch on, if it exists at all. Monero works the other way round. Every transaction on Monero is private, with no transparent mode and no setting to forget. Users who never think about privacy get the same protection as those who do.
That matters for more than secrecy. When every coin's history is hidden, no coin can be refused for where it has been, so one XMR is always worth exactly one XMR. Economists call that fungibility, and it is the property cash has and most blockchains lack. It also means the crowd every payment hides in is the whole network, not only the share of users who chose to opt in.
Monero launched on 18 April 2014, built on the CryptoNote protocol. A payment on a public chain reveals three things: who sent it, who received it and how much moved. Monero hides each with a different tool.
| what is hidden | how |
|---|---|
| Sender | Ring signatures. Each spend is signed on behalf of a group of 16 outputs, 15 of them decoys pulled from the chain. Anyone can verify one member signed; no one can tell which.1 |
| Recipient | Stealth addresses. The sender derives a fresh one-time address for every payment. Two payments to the same person never share an address on chain. |
| Amount | RingCT (2017). Amounts are hidden in commitments, and range proofs show none of them is negative. Bulletproofs (2018) and Bulletproofs+ (2022) made those proofs much smaller. |
A hidden sender raises an obvious question: what stops someone spending the same coin twice? Every spend publishes a key image, derived from the real output's secret key. It reveals nothing about which ring member was spent, but the same output always produces the same key image, so the network rejects any repeat:
The network itself is private too. Dandelion++ (2020) relays new transactions through a short random path before broadcasting them, so the node that first shouts a transaction is usually not the one that created it. Mining uses RandomX (2019), designed to run well on ordinary computer processors so that mining stays spread out. Blocks arrive about every two minutes, and after the main emission ended in 2022 every block pays a fixed tail emission of 0.6 XMR, forever.2
Here is one payment as two chains would record it. The left column is what a public chain would publish. The right column is what Monero publishes for the same payment once it moves on Monero itself: a ring of 16 possible senders, a one-time address and a sealed amount. Values are random stand-ins generated in this tab.
Readable by anyone, forever.
Verifiable by anyone, readable by no one.
Mhash does not run its own exchange. Every coin is created on pump.fun, where people already trade, and Mhash sets XMR as the coin's liquidity pair at creation. There is no SOL or USDC option on Mhash: the pairing is automatic and cannot be changed. Buyers can still pay with SOL, which is routed into the XMR pair.
| stage | what happens |
|---|---|
| Create | Mhash creates the coin on pump.fun with XMR as its pair and a Mhash fee vault as the fee recipient. |
| Curve | The coin trades on pump.fun's bonding curve, priced in XMR. |
| Graduation | When the curve completes, pump.fun moves the coin into a COIN/XMR liquidity pool. |
| Fees | pump.fun's creator fee from every trade, on the curve and after graduation, collects in the coin's Mhash vault. |
| Payout | At each settlement the holders' share, already in XMR, is sent straight to every holder's wallet. |
Each creator fee collected in the vault is split three ways:
| recipient | paid in | share of creator fee |
|---|---|---|
| Holders of the coin | XMR | 60% |
| Coin creator | SOL | 30% |
| Mhash operations | SOL | 10% |
Holding is what earns. Between two settlements, each wallet builds up weight equal to the smallest balance it held during the interval, times the hours elapsed, times a loyalty multiplier that grows by one-seventh for every full day without selling and stops at three:
Using the smallest balance means buying just before a settlement earns nothing for that interval. Selling any amount resets d to zero. At settlement the holders' share of the vault, already in XMR because every coin is paired with XMR, is set aside. That amount, F, is divided by weight and every weight returns to zero:
Rewards under 0.001 XMR carry over to the next settlement, since every Monero transaction pays a network fee. There is nothing to claim, nothing to stake and nothing to sign up for: if the coin is in your wallet, you are earning, and your XMR arrives in that same wallet.
multiplier
per day
per 30 days
Privacy that cannot be lifted is a problem for anyone who has to file taxes or prove income. Every Monero wallet has two secret keys. The spend key moves funds. The view key lets its holder see every payment that arrives, but cannot spend and cannot see what leaves.
| key | can spend | sees incoming | sees outgoing |
|---|---|---|---|
| Spend key | yes | yes | yes |
| View key | no | yes | no |
| Payment proof | no | one payment | no |
A holder who moves rewards into a native Monero wallet can give an accountant that wallet's view key, showing every XMR received without exposing anything else. To prove a single payment, either side can produce a transaction proof for just that one transfer.
Launching depends on pump.fun. Mhash can only pair coins with XMR if pump.fun offers an XMR pair, which requires a wrapped XMR token on Solana with enough liquidity. Monero has been delisted by several large exchanges, so wrapped XMR is scarcer than wrapped versions of other coins, and its value depends on whoever issues it. pump.fun's own fees and rules apply to every coin.
Holder rewards are paid as XMR on Solana, the same XMR token pump.fun uses for the pair, so no conversion or second wallet is needed. A keeper service holds each coin's fee vault and sends the payouts. That is trust in an operator, not in code, so every settlement is published with its fee total, the weights used and the payout transactions, and anyone can check the rules were followed. If the keeper stops, fees wait in the vault and the next settlement is larger.
The XMR on Solana is a wrapped token: it is public like everything on Solana, and its value depends on whoever issues it. Holders who want Monero's privacy can unwrap it to native XMR in their own wallet. Buying, selling and holding the coins happens on Solana, where every trade and balance is public.
The create form above is a preview. It checks your inputs and shows how a coin would appear, but it creates no coin and moves no funds.
Notes