Choose a launch format

The launchpad supports three formats: bonding curves, presales, and auctions. All three are live on Base. Stellar uses the same formats as that network comes online.

All three start with the same project information, token identity, supply plan, quote asset, and participation rules. The format determines how a participant gets a price and an allocation.

	Bonding curve	Auction	Presale
Pricing	Changes with the curve's sold supply	Determined through bids	Fixed by the creator
Participant action	Buy or sell against the curve	Submit a price and quantity	Commit quote tokens
Allocation	Executed purchases	Higher-priced bids have priority	Fixed-price allocation, with reputation priority when oversubscribed
Opening	At the configured start time	At the auction start	At the presale start
Ending	Graduation target reached	Auction close and settlement	Sale close or its published completion rule
Participant receipt	Token transferred during purchase	After settlement, under sale terms	After allocation, under participant vesting terms
Base	Live	Live	Live
Stellar	Factory and vault in source; Mainnet factory published	Expansion	Expansion

Bonding curve

Choose a bonding curve when you want the price to respond to purchases and sell-backs from the opening date. The curve is formula-driven and has no expiry deadline.

Auction

Choose an auction when buyers should express the price they are willing to pay. Higher-priced bids receive priority for a finite token allocation. The payment rule, closing time, and settlement process must be defined before bidding opens.

Presale

Choose a presale when you want a known price, a funding goal, and a scheduled distribution. When demand exceeds the available raise, reputation can prioritize final allocations. Unaccepted commitments stay refundable under the published settlement rules.

Shared configuration

Creators choose allocation percentages, the quote asset, start time, pricing parameters, team vesting, project description, team information, tokenomics, and access rules. On Base the quote is USDC. On Stellar it is XLM or USDC.

Format-specific terms belong on the launch page before anyone participates. A bonding curve is not an auction. See implementation status.