The November 2024 TON repository gives the clearest technical picture. PumpCore sets one billion units for each created meme token, makes 80% available to the curve, charges configurable protocol and creation fees, and prepares DEX vault, pool and deposit messages after funding. Its owner and admin can change operational parameters and withdraw protocol fees. The separate token template lets the launchpad owner mint a created jetton’s maximum once, then disables minting and replaces that jetton owner. These are published code paths; no deployment address was found.
The July 2025 white paper described buyers purchasing and selling through the curve, 1% internal trading fees, and graduation that moves raised TON plus 20% of meme-token supply to a DEX before users unwrap clone jettons. Market-making, aggregated trading, multichain support and AI creation were placed in later phases, so the document does not prove they shipped.
BNB PM is much narrower. Its verified Solidity constructor minted 100,000,000 PM to the deployer. The public interface is standard transfers and allowances; there is no external mint, owner, pause, blacklist, fee or upgrade function. That simplicity limits contract-level intervention, but it does not enforce the white-paper allocation or give holders a claim on platform fees.