How Peep numbers work

What counts as a trade

A trade is a buy or a sell recorded for your Peep account: swaps you make in Peep and swaps Peep indexes from your wallet. Each one has a token amount and a SOL amount. Trades are counted in time order; a trade without a time yet goes last.

For swaps made in Peep, the SOL amount is the change in your wallet's SOL: it includes Peep's fee and, for swaps Peep landed itself, the landing tip, and leaves out the network fee. Swaps made in Peep between SOL, USDC and USDT record no trade.

Peep takes a 0.75% fee inside each swap. Only swaps between SOL and a token carry it: swaps between SOL and USDC or USDT, and swaps that don't involve SOL, have no fee. Since 21 October 2026 the fee is collected inside the swap by the swap route's referral program, which keeps 20% of it.

Fee wallet

Peep's fees go to two places, both Peep's own:

• The 0.75% fee on each swap between SOL and a token made through Peep: since 21 October 2026 the swap route's referral program collects it inside the swap into Peep's referral account there and keeps 20% of it. Swaps before that paid it to the wallet below.
• Peep's 5% of each paid group join goes to the wallet below. The other 95% goes to the group's creator.

Realized P&L (average cost)

Each wallet keeps a separate position for each token: the tokens bought and the SOL they cost. A sell realizes profit or loss only for the tokens that position covers, at the position's average cost.

realized = SOL received for the covered tokens − average cost × covered tokens

Tokens sold without a recorded buy (bought before you joined, or received by transfer) are left out of P&L: neither their proceeds nor a cost count. Their share of sell proceeds is reported instead, so a large sell of old tokens never shows up as profit. A sell counts as fully covered when the position holds at least the amount sold, give or take one part in a billion.

Result: realized P&L +1.5 SOL, win rate 50% (1 of 2 closed sells), volume 10.5 SOL, max drawdown 0 SOL, and about 15% of sell proceeds (1 of 6.5 SOL) left out.

Win rate, volume and drawdown

• Win rate: winning sells ÷ closed sells. A sell is closed when it realizes P&L against a recorded buy, and wins when that P&L is above zero.
• Volume: the SOL amounts of every buy and sell, added up.
• Max drawdown: the largest drop of cumulative realized P&L from its highest point so far.
• Missing prices: a trade whose SOL amount is unknown still counts as a trade. An unknown buy cost makes that position’s P&L unknown until it fully closes; those sells do not count toward win rate. A sell with unknown proceeds still removes its tokens. Affected figures are marked ~.

Hidden trades

A hidden trade is one you chose not to Peep. It is never listed anywhere. It still counts toward totals: the weekly board, the figures on your public profile and Peep Score include it.

XP counts hidden trades too: hiding a trade changes who sees it, not your XP. A trade Peep couldn't find on chain is hidden by Peep itself, and that one adds no XP.

Rounding

Amounts anyone other than you can see are rounded to 2 significant digits, halves away from zero. Ranks use the exact values; only what is shown is rounded. Win rates and trade counts on the weekly board are exact.

Why: an exact figure that moves by one trade would give away that trade's exact size, and an exact size with a token and a minute points to one transaction on chain, which is a wallet.

The weekly board

A week starts on Monday at 00:00 UTC. The P&L, drawdown and volume boards apply the average-cost rules to each trader's trades from this week only, so tokens bought before Monday have no cost in the week and selling them adds nothing to this week's P&L.

• P&L, drawdown and volume are shown at 2 significant digits; ranks use the exact values.
• A trader whose trades this week all lack a SOL price is left out.
• Up to 50,000 trades a week are read.
• Hidden trades count toward the totals and are never listed.
• The Score board ranks everyone by their current Peep Score and has no week.

Public profiles

A public profile shows lifetime figures over every trade recorded for the account and this week's figures from the board, rounded to 2 significant digits and worked out with the rules above. They include hidden trades. A profile never lists individual trades and never shows a wallet to anyone else; only you see your own wallet, holdings and recent trades on your profile.

Peep Score

Peep Score runs from 0 to 1,000. Six parts, each between 0 and 1, are weighted and added, a moderation penalty is taken off, and the result is multiplied by 1,000 and rounded.

score = round(clamp(0.25 × trading + 0.25 × quality volume + 0.15 × Peeps + 0.15 × groups + 0.10 × invites + 0.10 × consistency − 0.5 × penalty, 0, 1) × 1,000)

Penalty: each hide or ban moderation action on your profile adds a third, up to 1 at 3 actions.

Quality volume and consistency read every recorded trade of your wallet, hidden trades included (up to 50,000). Scores are recalculated once a day for everyone who traded in the last 30 days, and yours whenever you open your own score.

XP and levels

XP comes from the volume you trade on Peep and the friends you bring. Each week settles once, on Monday.

• Counted volume is the SOL side of your confirmed buys and sells on Peep that carry Peep's fee. A trade counts in the week it was confirmed.
• Each week, your volume earns 100 XP per SOL up to 50 SOL, 20 XP per SOL from 50 to 500 SOL and 5 XP per SOL above that, rounded down.

Your realized P&L on Peep for the week (the average-cost rules above, over your counted trades) moves that week's volume XP by up to 10% either way.

P&L adjustment = round(volume XP × clamp(realized P&L ÷ volume, −10%, +10%)), then held between −floor(volume XP ÷ 10) and +floor(volume XP ÷ 10)

Example (made-up): 60 SOL of volume in a week is 5,200 XP (50 × 100 + 10 × 20). A realized P&L of +3 SOL is +5% of the volume: +260 XP, 5,460 XP in all. A loss of 12 SOL is −20%, held to −10%: −520 XP, 4,680 XP in all.

Halves round away from zero, and the adjustment never moves the week by more than a tenth of its volume XP, rounded down: a week of 0.95 SOL is 95 XP, and a +10% week adds +9 XP, not +10.

Friends you invite add XP as well, by the rules under Invites below.

Every Monday at 03:00 UTC, the week before (Monday 00:00 to Monday 00:00 UTC) settles: its volume XP with the P&L adjustment and its invite XP are added at once. Until then the week is pending; your XP page shows its volume XP as it builds up.

Your level follows from your XP: level L starts at 100 × (L − 1)² XP, up to level 50.

Ranks come every 5 levels: Rookie 1–4, Scout 5–9, Spotter 10–14, Tracker 15–19, Sharp 20–24, Strategist 25–29, Veteran 30–34, Master 35–39, Legend 40–44, Mythic 45–50.

Other people see your level as of the last settlement, so it changes at most once a week. Nobody else sees your XP.

Invites

Friends who join with your invite link add to your XP.

• When a friend you invited reaches 2.5 SOL of counted volume within 30 days of joining, on at least 2 different UTC days and in at least 2 different coins, you get 250 XP once. Up to 10 are added in a week; the rest are added in the weeks after.
• In weeks when at least 3 friends you invited have counted volume, you also get 25% of their volume XP (worked out at the rates above from each friend's volume, rounded to 2 significant digits), for 12 months after each friend joined.
• XP from invites is capped at 5,000 a week.

• An invite applies only to an account younger than 7 days that hasn't made a swap with a Peep fee. The first invite link a browser opened counts (it is kept for 30 days), and an account's invite never changes afterwards.
• You can't invite yourself, and two people can't invite each other.
• Trades your friends hide still add to their volume.
• You see how many people joined with your link, how many of them reached 2.5 SOL, and the XP your invites added. Never who they are, what or when they traded, or their wallets.

What Callout and Thesis show

Callout and Thesis are Discover feeds of tokens: one row per token, the latest activity first, up to 100 tokens from the last 24 hours. A row shows counts and times only. It never shows what anyone wrote, who they are, a handle or a wallet.

• A quote of a callout doesn't count, and each callout counts once. Coins launched on another launchpad count when they are called out there.
• Callouts by the token's own creator, and callouts in its first minute, are not counted.
• Callout leaves out obvious traps: tokens with less than $100 of liquidity, tokens less than 1 minute old and tokens Peep's market data provider flags as risky. These are Peep's defaults; the Callout info sheet states the numbers in use. A token whose market data hasn't arrived yet stays listed, and Thesis leaves nothing out.
• Thesis never adds its counts together: a shared buy is usually also a buy on chain, and the app's feed doesn't say which one.
• A Thesis row shows its biggest count: buyers, theses or shared buys. The token's page shows all of them.
• Buyers are distinct wallets. To count each one once per token, Peep keeps a salted fingerprint of it, never its address, and shows no wallet.

The counts are what Peep saw, and coverage is partial:

• Callout sees the tokens that reach the launchpad's home feed and the tokens already in Peep's other feeds. A token that never shows up there can be missing.
• Peep reads a limited number of pages per token, so a busy token can have more callouts than shown: such a count has a + after it, and "first seen" marks a first callout that may not be the first.
• The app's feed shares big buys only.
• Buyers and buys on chain are counted from when Peep's reader started, at most 24 hours back.
• A count whose source didn't answer shows as —, never as 0.
• If Peep's on-chain reader reaches its daily limit, the buyer count says paused until the reader resumes, never an old number.

Both feeds update as things happen. A buy on chain shows up within seconds. A callout shows up as soon as Peep reads it from the launchpad's public data, which it checks every few seconds within the launchpad's request limit. A thesis or a shared buy shows up as soon as the app's feed has been read, which can take a minute or more. Price and market cap update from Peep's market data stream as it arrives, and about every 15 seconds for tokens the stream doesn't carry.

Each feed shows in Discover only while Peep serves it; a feed that isn't served has no chip.

Peep also flags tokens from their market data: no or pulled liquidity, broken market data, a graduate under $10K market cap, or a token that stopped trading after a crash. New, Graduating, Graduated and Callout leave a flagged token out. Peep Radar and Thesis keep it listed and mark it Rug risk. How much of the supply bundlers and insiders hold was measured too: a large share did not predict a rug (it grows with market cap), so it marks nothing. A token page shows its flag wherever it was opened from: a link, search or the Feed.

What public pages never show about Peep accounts

• Wallet addresses, whole, shortened or as .sol names
• Transaction signatures
• Individual trades, hidden or not, and their times
• Exact amounts
• Holdings and open positions
• Anyone's XP or XP history
• The parts of anyone's Peep Score
• Private or paid group memberships
• Who joined with someone's invite, or what they traded

Discover's Callout and Thesis feeds show counts per token, never a wallet or a single trade, whoever made it.

How fresh the numbers are

• The weekly board is worked out each time it loads.
• Public profiles update every few minutes.
• Peep Score updates once a day, and yours when you open it.
• XP settles on Mondays at 03:00 UTC, and the level others see moves with it.