Skip to content

General Overview

How It Works

PILOT uses a pricing system which combines elements of an auction, with a fair distribution model.

A sale involves the following details (amongst others), set by the launcher:

  1. A predetermined, fixed number of tokens available for a limited amount of time. Buyers bid on these tokens.

  2. A starting price point (the “sale price”). Any successive discounts on price are anchored on this value.

  3. A price range, composed of discounted amounts at which a participant can place a bid.

When the sale starts, buyers place bids, at multiple price points, for as many or as few tokens as they like. All active bids remain in place until the sale ends.

When the sale ends, tokens are first sold to buyers who bid the highest price. When those bids are satisfied, the sale processes bids at lower prices, progressing in this way until all of the tokens are sold. At that point, any further bids remain unfilled. The tokens in the sale are distributed to successful bidders, who withdraw their tokens. Any unsuccessful bids are cancelled by the bidder to retrieve the amounts bid.

Distribution is done equally at each price point. The order bids were placed in and the amount in the bid do not affect whether the bid is filled, nor how much it is filled. If there are not enough tokens to fill all bids at a certain price, those bids are filled at an equal proportion.

This balance allows demand and supply dynamics to dictate the outcome, without forcing buyers to accept a price point, while the seller must offer a price range both they and the market think is fair, allowing both the seller and buyer to enter the market at what they deem to be a “fair” price for the token.


Sellers create a sale by selecting values for a number of parameters, with the aim of selling all of the tokens on offer at the highest average price the market is willing to pay. The details of creating a sale are covered in the GUIDES FOR SELLERS section.

Once created, the sale is displayed on the PILOT site, where potential buyers can review the terms and learn more about the project.

Each sale has a unique URL, making it convenient to share and bookmark.

Any token bridged to the Kujira chain can be sold on Pilot. It is not restricted to native tokens.

Sale Information

An active sale page displays a number of data points a bidder can consider when deciding where to place bids, and which bids to activate or cancel. These are briefly described below.

Pool Value - The total value for a particular pool, measured in the purchase denom, which is usually, but not limited to, a stablecoin like USK or USDC.

Discount - The discounted price the bidder is willing to pay for the tokens.

Active Bids - A red dot indicates the bidder has an active bid in that discount silo.

Inactive Bids - A black dot indicates a bid in that discount silo is not active.

Qualifying Bids - Pool values displayed in blue will be filled completely when the sale ends.

Excluding Bids - Pool values showing partially grey and blue are going to be partially filled. Pool values showing as completely grey are unsuccessful.

Sale Filled - This percentage shows the percentage of tokens in the sale which have been successfully bid on. When the number shown exceeds 100%, it signals there are insufficient tokens to fill all active bids, the sale is oversubscribed, and some bids will be partially or completely unfilled.

Sale Amount - The quantity of tokens available in the sale.

Sale Price - The base price (0% discount) of the tokens for sale. All discounts are calculated using this price.

Total Bids - The total value of all active bids in the sale.

My Total Active Bids - The total value of the bidder’s active bids.

Average Fill Price - The average price for all tokens in the sale, calculated using the total value of all active bids.


Seller’s Commission : a 5% commission is paid out of the DENOM raised in the sale. This is transferred at the conclusion of a successful sale and split evenly between KUJI and yFUZN stakers.

Buyer’s Commission : a 0.5% fee is charged to participants when they withdraw the tokens they successfully bid on and split evenly between KUJI and yFUZN stakers.

Tokenomics Commission : tokenomics distribution uses Fuzion’s Flows product. Claiming tokens, including liquidity deposited in BOW directly from the sale (LP tokens), incurs a 0.5% commission paid to yFUZN stakers.