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Concepts

Sales

Fixed prices and rising curves, the sale window, and the floor check on every purchase.

A launch opens with one sale. It sells a set number of tokens, its allocation, during a window that opens and closes at set times.

Fixed price or rising curve

  • Fixed price: every token costs the same.
  • Rising curve: the price climbs evenly from a start price to an end price across the allocation. A purchase pays the average price of the stretch of the curve it buys.
On a rising curve the price climbs evenly from start to end across the sale. Each purchase pays the average price of the stretch it buys. Example figures.

The program rounds the average price up to the next atom and the total cost up to the next atom, so rounding never takes from the treasury.

Where a purchase goes

For a purchase that costs C with a team share s:

  • C × 1% goes to the protocol first, where it buys $PLINTH to burn. See $PLINTH.
  • s of what is left goes to the team wallet.
  • The rest, C × 0.99 × (1 − s), goes into the treasury.
  • The buyer receives the tokens in the same transaction.

Both shares round down, so the treasury keeps every leftover atom. Follow-on sales split their purchases the same way.

The floor check

The program checks every purchase against the current floor. A purchase goes through only if the USDC it adds to the treasury is at least the floor for each token it mints. So a purchase can never lower the floor.

When a sale ends

A sale ends when its allocation sells out or its window closes. After that, the token page offers redemption, and the creator can open a follow-on sale.