How a token launch works

The basics

The developer picks how much to raise and how it divides between three phases. Everything else follows from those. The figures below are the standard split.

Supply

1,000,000,000 tokens, minted once.

Developer

What the pool and the backers do not take: 60% of the supply on the standard split. Locked until the refund window ends.

Pool

15% of the supply, paired with 60% of the raise when trading opens, on the standard split.

Backers

25% of the supply, sold at one price.

Price

The raise divided by 250,000,000. The pool opens at the same price. A $20,000 raise prices a token at $0.00008.

Currency

USDC or SOL, picked by the developer. You back, get refunds and trade in that currency.

Three phases

Every phase has the same price. The only difference is the refund.

Phase 1 money, 40% of the raise, is held so it can be refunded. The other 60% goes into the pool.

These are the standard shares, and the developer can move them. Each phase takes at least 5% of the raise. A bigger phase 1 holds more of the raise for refunds and puts less into the pool. The pool then gets fewer tokens and the developer gets more, so it still opens at the backers' price. Backers always get 25% of the supply, so the price and the starting market cap stay the same. A smaller pool means each trade moves the price more. Every launch page shows the shares that launch uses.

Who can back when

1. Whitelist period. It comes first and lasts 48 hours. Only people with a place can back, and each place has a limit.
   • Phase 1's 24 hours. People with a refundable place back phase 1.
   • Phase 2's 24 hours. People with a phase 2 place join them. If phase 1 did not fill, what is left of it is offered first, with its refund. Then phase 2 opens.
   The developer can make the period shorter, from 1 to 48 hours, split the same way.
2. Public period. After that, anybody can back until the raise closes. They fill whatever is left, starting with the earliest phase.

The developer gives whitelist places. The game's leaderboard places its top players, the top 25% unless the developer sets another share. A quarter of those get refundable places and the rest get phase 2 places. Leaderboard places are fixed 2 hours before backing opens. With no whitelist and no leaderboard, backing opens to everybody at once.

A phase keeps its terms whoever backs it. So a phase 2 place, or somebody in the public period, can end up in phase 1 with its refund, if phase 1 had room left. The raise fails only if the whole goal is not reached by the end. Then everybody can claim their money back.

After the raise

If the raise fills, the pool opens and trading starts. A 28-day refund window starts, and the developer's tokens stay locked until it ends. It is never extended. Phase 2 and 3 backers have no refund, so they can claim their tokens right away. Phase 1 backers choose:

Refund

You get your phase 1 money back, and the tokens it bought go to the developer. If you also backed phase 2 or 3, those tokens stay yours.

Keep your tokens

Claim them, or do nothing. If you do not claim, after the 28 days the tokens are sent to you. The phase 1 refund money goes to the developer.

You can claim your tokens at any time, from the launch's page or from indie.fun/claim.

Costs

To back

1% on top of what you back. It is not refunded. Plus a tiny Solana account fee.

To trade

2% per trade. Meteora keeps 0.4%. The developer and indie.fun get 0.8% each.

Check it yourself

The launch runs on a Solana program. A launch's page shows the pool address, and the token address once the raise succeeds, so you can check them in any explorer.