They can
- Take their monthly allowance, to wallets they named before the sale opened
- Take less money than people offered, and send the rest back
- Buy and sell the token like anyone else
How it works
Four steps. Only one of them is a decision.
The rules are fixed before a company opens its raise.
- 01
You put money in
A company posts what it needs, how long the sale runs, and how much the team can spend each month. You put in as much as you want. You cannot pull it out while the sale is running, and you cannot add more once it ends.
- 02
The clock runs out
If the company missed its target, the sale is off and everyone claims a contract-quoted refund less the published fee. If it hit the target, the sale worked. The team can choose to take less than came in and return the rest through the same refund path — but never accept less than the minimum they published.
- 03
Everything happens at once
The instant the sale succeeds, one action does all of it: the tokens get made, a public trading pool opens at the price backers paid, the rest of the money goes into a pot only the monthly allowance can reach, and the ability to make new tokens is switched off forever. Only then can the tokens be moved. No trading pool, no moving tokens.
- 04
The team gets paid monthly
Starting 30 days later, the team can take their allowance and nothing more. Whatever is left, they cannot touch. Neither can we.
This isn't a promise from them. It's what the code allows.
The team holds no tokens on day one. There is no unlock schedule to keep an eye on, because there is nothing waiting to unlock.
They can't
- Make more tokens. Ever.
- Touch the trading pool
- Change the allowance, the wallets, or the number of tokens after the sale opens
- Take anything at all in the first 30 days
- Reach any money beyond this month's allowance
- Call a sale successful when it did not hit the target
We can stop their allowance. Then you can take what's left.
An allowance slows a bad outcome down. It does not stop one. So there are three more steps:
- 1
We cut off the allowance
The team stops getting paid. No money moves anywhere. They cannot switch it back on.
- 2
We start shutting it down
We write down who is holding tokens at that exact moment. That list is what decides who gets paid.
- 3
You take your share
A week later, anyone on that list can hand in their tokens for a share of the money still sitting there. If we have not opened this, anyone can open it themselves.
For backers
Check it yourself before you put money in.
We would rather you turned up sceptical than excited.
Nothing has raised here yet — when something does, every raise will show the same numbers in the same place: the target, the most it will take, the monthly allowance, and the wallets that get paid.
The code is public and you can read it, including the tests for the two things that matter most: that a missed target refunds everyone, and that a team cannot take more than its allowance.
- The rules, in full
- What can go wrong, and who carries it
- Our code, and the shared account that runs it
Before you put money in
- You pay in USDG
- A digital dollar. One USDG is always one dollar. You need it on Robinhood Chain before you can back anything — USDG held anywhere else will not work.
- You need a little ETH too
- Every action on the network costs a small fee, paid in ETH. That includes taking your money back. Keep a little spare so you are never stuck.
- The token does not move until the sale closes
- Nobody can trade a company's token while its sale is running. Once it closes, only the official pool counts. Check the address on the company's own page before you buy anywhere.
Nothing here is a recommendation to buy. Terms and risks
Later: you decide, not us.
The interesting part is not the funding. It is what happens after. Should the team spend more? Should the company shut down? Right now those calls are ours, and they should not be.
The plan is that people holding the token settle those questions by putting money behind an answer, instead of a small group deciding in private. It is hard to build and easy to game, so we are building it against real treasuries rather than guessing at what it should look like.
Until it ships, one shared account that we control is the gate. The rules for how we use it are published, and so is that account’s address. Getting ourselves out of the middle is the whole goal. Pretending we already have would be the opposite of it.