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Seller's Guide: Setting a Sale

Creating a Pilot sale is easy and designed to be done without any assistance or permissions required from the team, the community or the chain. However, anyone requiring advice, guidance or assistance is welcome to get in touch with the team, or engage our community of users via our Discord.

The process has 5 sections.

Create - Starting the sale process requires a 1000 USK deposit. This is returned to the address after a sale is concluded.

Mint Details - Pilot can create (mint) your token for you, or work with an existing token, if it has already been minted.

Tokenomics - Set up all the details of your sale and your trading liquidity, including the distribution plans for the rest of the supply. These are triggered at the conclusion of a successful Pilot sale.

Sale Details - Sets out all the details surrounding the sale, and provides further info for potential participants regarding the project.

Configure Sale - Execute distribution of tokens at the sale conclusion,manage liquidity provision to the trading pair, and add your token to the Cosmos Chain Registry and Kujira database once the sale has successfully concluded.

More details on each section is provided below.

1. Get Started - Create

Starting the process requires the sale Creator acknowledges they have read, understood and agreed to the Terms and Conditions, and pays a 1000 USK deposit.

2. Token Details - Mint

Create a denom / I have my own denom - Select whether you will be using Pilot to mint your token or if your token is already minted.

Token Symbol - The name of your token seen by everyone.

Denom Admin - The address assigned as token administrator at the end of the sale. Recommended to leave this unpopulated and the Kujira governance address will be assigned as the token administrator at the end of the sale process.

URL SVG Token Logo file - A link to the file, dimensions are a minimum of 40 x 40.

URL PNG Token Logo file - A link to the file, dimensions are a minimum of 40 x 40.

Minting a token in testnet is 100 $KUJI. Minting a token in mainnet costs 10 $KUJI.
To view the denom, check the Tx in Finder of the launch address.

3. Tokenomics

How tokens are distributed, including the distribution schedule, which controls when tokens enter the circulating supply. Tokens are claimed by the recipients in the Inflows tab of Flows.

There are 5 columns in the table:

  1. Allocation - The name of the segment the tokens are allocated to (Eg “Operations”, “Marketing, “Team” etc).
  2. Amount - The quantity of tokens allocated to the segment
  3. First Claim - The date this segment will be available to claim.
  4. Flow End Date - The date the schedule ends and all allocations to the segment are claimable.
  5. Wallet - The address the tokens are distributed to. One address can be the recipient of multiple allocations.

The tokenomics are initiated when the launcher clicks “Activate”. This time and date marks the initiation of the distribution of tokens. A failed sale will not trigger token distribution.

Total Tokens in Pilot Sale - This is the quantity of the tokens placed in the sale, reflected as the Sale Amount when a Sale is live. These are the tokens bidders are trying to buy. First Claim, Flow End Date and Wallet columns are left blank for this allocation.

BOW Liquidity Allocation - Pilot automatically uses a portion of the funds raised in the sale and pairs it with the tokens allocated by the launcher to provide liquidity in BOW once a sale is successfully completed. This liquidity allocation defaults to a minimum of 10% of the tokens in the sale. The seller may increase this amount at their discretion when setting out the tokenomics in step 3 of the sale creation process. The token value used to create the pair is the Average Fill Price at the conclusion of the sale. First Claim, Flow End Date and Wallet columns are left blank for this allocation. LP tokens are sent to the Sale Proceeds Recipient Address added in the Sale Details section. LP tokens have a mandatory schedule of a 100 day Flow and a 21 day delay before LP can be claimed. This starts from pair activation. This “cool off” period protects bidders from poor liquidity immediately after the sale. It is mandatory and set by default. LP tokens are claimed through the Inflows tab on the Flows page, using the Recipient Address. Claiming LP tokens incurs a 0.5% withdrawal fee, paid to yFUZN stakers.

Add Row - In addition to the two default allocations, the sale Creator can manually add extra allocations. Each allocation must have the info for all columns filled. These allocations begin distribution at the conclusion of the sale. Rows are removed by clicking the small x to the right of the row.

Total Supply - These are the total tokens in the tokenomics. The figure is a tally of all allocations and calculated automatically.

4. Prepare For Launch - Sale Details

This information appears on the sale card and sale detail page.

Title of Sale - The heading of your sale as it appears on the Pilot site, Eg “FUZN by Fuzion”

Project Description - A brief description of the project. This can include markdown text.

URL to Project Site - A link to a source of more information about the project, such as a site, social profile or link tree.

Sale Information

Details of the actual sale.

Sale Proceeds Recipient Address - The address to which the proceeds of the sale are to be sent once a sale is complete.

Bid Denomination - The denom used to bid for the tokens in the sale.

Base Price of Token - The starting price of the token. All discount prices are calculated in reference to this.

Start Date and Time - The date and time at which bidders may submit bids.

End Date and Time - The date and time at which no more bids are accepted and the sale is concluded.

Sale Configuration

Delay Activation Period - The length of time a Bidder waits until a bid may be activated.

Spread - The number of discount silos offered by the Seller.

Change Per Slot - The change in discount between each sequential silo

Manual Activation Threshold - The total value of active bids at which point the Activation Delay is in effect.

Minimum Sale Amount - AKA the “Sale Fail”. Calculated by Pilot, based on variables the seller sets. A sale must exceed this amount in total active bid value to be successfully concluded. Failure to surpass this value will result in a retraction. Tokens will not be withdrawable, bids will need to be cancelled and tokenomics will not proceed. The Sale Fail Amount is a calculation of Total Tokens in Pilot Sale x Base Price of Token x [1 - (Spread x Change Per Slot / 100)]. Eg. 100,000 tokens with a base price of $1 and a max discount of 30% with a change per slot of 1% = $70,000 Minimum Sale Amount. The Minimum Sale Amount must be greater than 50,000 for the sale to be approved. The launcher controls the Sale Fail amount through the number of tokens in the sale, the base price, and the maximum discount.

5. Control Center - Configure

Control all aspects of a sale, including the start of a sale and post sale actions.

After a denom is created, there are a number of actions the Launcher implements using the Control Panel section of Keiko:
Cosmos Chains Registry - Creates a PR to add your token to the Cosmos Chain Registry.

Kujira.ui - Creates a PR to add your token to the Kujira UI.

After all details of a sale are submitted:
Start - Make your sale live, once all of the details have been submitted, and the sale start time is reached.

After a successful sale:
Distribute - Once the sale end date and time is reached, the launcher manually approves the start of token distribution. This must be done promptly. Bids can be activated or cancelled until this step is taken. Successful bids are filled and bidders can withdraw their tokens.

Activate - Once distribution has taken place, this step activates the tokenomics, trading pair creation on FIN and liquidity provision on BOW. All tokens, including LP tokens, can be monitored and claimed by the receiving addresses by viewing Inflows. Minting the LP token costs 10 $KUJI.

Trade - Once the pair is created and liquidity provided, this switches the pair on FIN from bootstrapping mode to live, and trading may begin.

After an unsuccessful sale:
Retract - The tokens allocated in the sale can be retracted and claimed by the launcher.

Minting Denom and Token Supply

Keiko offers launchers a minting facility for those who have not yet created their token. This runs through the various stages of minting and supplying the token, and also describes how and when they are moved.

Mint Token

“Create” - The denom is created with a supply of zero and can be viewed in finder.

Control Centre

“Start” - When the launcher starts the sale, the quantity of tokens in supply are minted according to the “Raise Token Amount” quantity prescribed in the sale information. The tokens are moved into the Pilot contract.

“Activate” - The token supply is increased to include all the Tokenomics quantities set in the Tokenomics section. The prescribed quantities are moved to BOW to provide liquidity and distributed to various addresses specified by the launcher. Token recipients access tokens and LP by claiming them in Flows.