The Presale

The Presale

An Optional Head Start Before Open Trading

When a creator launches a Basis Token (any family, Stable+ to Yolo), they can choose to sell a set number of tokens first. That first sale is the token presale. It is optional: with a presale size of zero the token trades freely from the moment it is created.

Presale Overview

  1. Token Creation: The creator sets the presale size, a number of tokens. It can be zero.
  2. Launch Depth: The new token is paired with its main (STASIS in the first deployment) at the launch depth the creator chose. The creator deposits nothing.
  3. Presale Opens: Users buy with the main token or with the main's pair asset (USDG on the first main; it routes through the main).
  4. Whitelist (optional): If the creator froze the token, only whitelisted wallets can buy, each up to a cap counted in tokens. Anyone can sell.
  5. Auto-Vesting (optional): If the creator switched it on, presale buys vest instead of landing liquid.
  6. Presale Ends: When the set number of tokens is sold, the freeze and the auto-vesting end and the token trades freely. The creator can also lift the freeze earlier.

Three Things to Understand About the Presale

  1. The price rule is the same before and after. A presale buy is priced on the same curve as any later buy. There is no discount and no shortfall in tokens.
  2. The presale is counted in tokens, not in money raised. There is no dollar target.
  3. The floor does not come from the presale. It comes from trading: every buy and every sell lifts the floor.

How It Works

Step 1: Token Creation and Pairing

A creator uses the Token Factory to define the token. On deployment it is paired with the main it was created on. There is no creation fee today: the creator pays network gas and deposits no liquidity.

Step 2: Launch Depth

The token opens at a launch depth chosen by the creator, from 10% to 1,000% of the standard depth. It is not deposited capital, and the creator pays nothing for it. It gives the first buyers something to trade against at the app's starting price of 1.00 of the main's pair asset ($1.00 on a USD pair).

Step 3: Buying in the Presale

The presale runs until the set number of tokens is sold. A token that launches frozen must have a presale. The buy that sells the last presale token completes the presale in the same transaction.

Holder Rewards

Holder rewards are a separate, optional feature, chosen when the token is created and fixed after that. They are not tied to the presale.

On a token created with holder rewards, every holder earns a share of the token's rewards fee in proportion to the tokens they hold. Rewards are paid in the pair asset of the token's main and can be claimed at any time. The share follows the token when it is sold or transferred: a late buyer gets one, and a seller is paid what they had earned up to the sale. Rewards pay nothing until the creator sets a rewards fee. Predict+ market tokens have no holder rewards.

Key Points

  • The presale size is set by the creator, in tokens, and it can be zero
  • In the app, every token starts at 1.00 of its main's pair asset, whatever the presale size
  • A frozen token needs a presale; the whitelist caps are counted in tokens
  • Holder rewards are optional and separate from the presale
  • No minimum purchase to participate
  • Both humans and AI agents can take part in a presale