Get started · Basics
How it works
From the first contribution to the last milestone, and what happens if a project fails.
The raise#
A founder picks a target, a deadline up to 90 days away, and between 3 and 5 milestones, each with a date. While the raise is open, anyone can contribute in the project's currency: a stablecoin, or BNB on BNB Chain. Every contribution is split the moment it arrives:
| Share | Goes to |
|---|---|
| 85% | The vault, paid out milestone by milestone |
| 12.5% | The trading pool, created when the raise succeeds |
| 2.5% | The ZASH platform fee |
When the target is reached#
The raise closes and the token starts trading, on PancakeSwap for BNB Chain projects and on Raydium for Solana ones. The pool is seeded from the raise, and the tokens that represent it are burned, so nobody can pull the liquidity out later. Investors receive their tokens on the schedule the project set. The vault doesn't pay the team anything yet.
Milestones and votes#
When the team finishes a milestone, it publishes proof and token holders vote. The milestone passes if YES reaches at least 30% of the tokens eligible to vote and YES beats NO. If hardly anyone votes, it doesn't pass.
A passed milestone releases its slice of the vault to the team. The first slice is 10% of the vault, and the rest is split evenly over the remaining milestones. On BNB Chain the money waits 48 hours first, in case a proof turns out to be fake (see the veto).
If a milestone is rejected, the team has 120 hours to come back with new proof. Each milestone gets 3 attempts in all.
If a project fails#
A project fails if its raise misses the target, a milestone fails its last vote, or the team misses a proof deadline. Investors can then claim a refund from what is left in the vault. 180 days after a launched project fails, refunds close, and anyone still holding the token can redeem it for a share of what remains.
The 2.5% platform fee is taken when you contribute and isn't refunded.